Revenue Management Final Exam Practice 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers by Expert)
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Course
REVENUE MANAGEMENT
Institution
REVENUE MANAGEMENT
Revenue Management Final Exam Practice 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers by Expert) What is bigger in the tourism industry, fixed costs or variable costs?
ANS fixed costs are bigger
-Think of an airplane staffing, airport fees (fixed) - huge amount of the costs for...
Revenue Management Final exam practice questions.pdf file:///C:/Users/HP/Desktop/New%20Conver/Revenue%20Managem
Revenue Management Final Exam Practice
Questions & Answers
1. What is bigger in the tourism industry, fixed costs or variable costs?
ANS fixed costs are bigger
-Think of an airplane staffing, airport fees (fixed) - huge amount of the costs for airplanes come
from fixed costs; food, fuel (variable) - not as easy to determine the variable costs
2. We can reduce prices (even below total cost per room), as long as the reduced price
covers, fixed cost per room or variable cost per room?
ANS We can reduce prices as long as the reduced price covers the variable cost per room
-because we are going to have the fixed costs not matter if we have the person in the room or
not
3. High Value Customers tend to book early or last?
ANS last
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,Revenue Management Final exam practice questions.pdf file:///C:/Users/HP/Desktop/New%20Conver/Revenue%20Managem
4. Do we sell "time blocks" or "physical products"?
ANS time blocks
5. What implication do time blocks have?
ANS we cannot store it for tomorrow, it is gone once it is not sold for that day
6. "I want my hotel to be the first to sell out in the market"
Correct or incorrect?
ANS incorrect
7. RM can be organized with different levels regarding the people involved. How many?
Which ones?
ANS Property Level - Corporate Level - 3rd Party Services
8. What does a booking curve represent?
ANS the expected number of bookings for each day until the arrival date
-forecasted bookings
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9. What does a pace report track?
ANS The OTB reservations against the forescasted reservations
10. Who attends the weekly RM meetings?
ANS -Revenue manager
-General manager Sales
manager
-Rooms manager
***and sometimes
-Food and Beverage management
-Marketing
-HR management
11. How many internal performance indicators do we have?
ANS 6
OR, ADR, RevPar, and the percent changes of each of them
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