LodgingManagementExam1Questions(Correct
Answers).
what were inns used for in early days - Correct Answer people traveled for religious
reasons and would stop at inns on the way to religious shrines or temples and trade routes
Hotels - Correct Answer full service, limited service, extended stay,...
Lodging Management Exam 1 Questions (Correct
Answers).
what were inns used for in early days - Correct Answer people traveled for religious
reasons and would stop at inns on the way to religious shrines or temples and trade routes
Hotels - Correct Answer full service, limited service, extended stay,
convention/conference, resorts, and time shares
lodging industry segments - Correct Answer hotels, bed and breakfast inns, and
camps/park lodges
ADR abréviation - Correct Answer Average Daily Rate
ADR - Correct Answer average mean selling price of all guest commons for a specific time
period
ADR equation - Correct Answer ADR = total revenue from room sales/total number of
rooms sold
Occupancy Rate - Correct Answer The ratio of guest rooms sold (or given away) to the
number of guest rooms available for sale in a given time period and expressed as a
percentage.
occupancy rate formula - Correct Answer total rooms sold/total rooms available
RevPAR - Correct Answer The average revenue generated by each guest room available
during a specific time period. RevPAR combines the information from ADR and occupancy
rate into a single measure.
RevPAR equation - Correct Answer ADR x Occupancy Rate
GOPPAR acronym - Correct Answer gross operating profit per available room
GOPPAR - Correct Answer The amount of profit made from room sales divided by the
number of rooms available to sell
tourism industry - Correct Answer hospitality, retail stores, destination sites, and
transportation services
, hospitality industry - Correct Answer lodging segment, food/beverage segment, private
clubs, cruise ships, and casinos
Industry Trade Associations - Correct Answer - American hotel and lodging association
- asian American hotel owners association
- international hotel and restaurant association
- educational institute of the American hotel & lodging association
hotel owners - Correct Answer - investors
- owner/operators
Management Companies - Correct Answer role and structure of management companies,
management contracts, management company pros and cons
Management Company - Correct Answer An organization that operates a hotel for a fee.
Sometimes called a "contract company"
the role of the management companies - Correct Answer help lenders maintain
repossessed properties until they can be resold, operate hotels for investors who want to
keep their ownership in their hotels
the structure of management companies - Correct Answer by using name, by size, and by
participation manner
First tier (management company) - Correct Answer management companies that operate
hotels for owners using the management company's trade name as the hotel brand
example of First tier (management company) - Correct Answer Hyatt, hilton, and Sheraton
Second tier (management company) - Correct Answer management companies that
operate hotels for owners and do not use the management company name as part of the
hotel name
example of second tier ( management company) - Correct Answer american general
hospitality, summit hotel management, winegardner and hammons
management contracts - Correct Answer A written agreement between an owner and an
operator of a hotel or motor inn by which the owner employs the operator as an agent
(employee) to assume full responsibility for operating and managing the property.
management company pros - Correct Answer -improved management quality
-documented managerial effectiveness is available
-payment for services can be tied to performance
-partnership opportunities are enhanced
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