Hotel lodging final exam - Study guides, Class notes & Summaries

Revenue Management Final Exam Question & Answers 2024. what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -...

DTS – TRAX FINAL EXAM PREDICTION QUESTIONS. You need to find a regulation about Privately Owned Vehicles (POVs). You know the full reference is JTR, par. 020210-D1. Which of the following is not a possible way to find the reference you need? - CORRECT ANSWER Use a bookmark to go directly to par. 020210-D1. Which of the following types of travelers are not subject to the JTR while on official travel? - CORRECT ANSWER Contractor employees Which is not a correct statement about how the...

HOSP 1010 Final Exam Verified Solutions Old wine Traditional winegrowing regions of Europe -Very traditional -Regional orientation -Terroir expression -Subtlety of fruit flavor -Very fixed location for growth -Little use of technology -Little intervention New wine Essentially everywhere but Europe -Innovative/Scientific -Varietal orientation -Fruit forward -Large / open vineyards -Technological Brainpower Read More Does old or new wine dominate production? Old wine How is old a...

Hotel Lodging FINAL EXAM

Revenue Management Final Exam ch 5 Questions & Answers For revenue managers working in the lodging system the term "place" in the 4ps of the Marketing Mix refers to two items. One is the physical location of the hotel. What is the second? - ANS-the property distribution channels What is the industry term used to describe all of a hotels unique or distinct forms of guestroom products available for sale? - ANS-Rooms inventory What is a rate code? - ANS-A property specific description u...

Revenue Management Final Exam Questions and Answers - Latest Updated | 100% Verified. How many internal performance indicators do we have? 6: OR, ADR, RevPar, and the percent changes of each of them 12. How many external performance indicators do we have? 6: OR index, ADR index, RevPar index, and the percent changes of each of them 13. What is the minimum number of hotels in a comp set? 4 14. What is the threshold in the OR, ADR and RevPar indexes that determines the point we are...

Revenue Management Final Exam Practice Questions and Answers Latest Updated . What is bigger in the tourism industry, fixed costs or variable costs? 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 ...

Hospitality Revenue Management final exam review | LATEST 2023/2024 with complete solution What is the industry term used to describe the sum of prices paid by a business's customers? - total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - profit=sales-costs What is the name for the net value achieved by both parties in a business transaction?...

Revenue Management Final Exam | latest with complete solution GRADED A+ What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Profit What...

Hospitality Revenue Management final exam review Question & Answers What is the industry term used to describe the sum of prices paid by a business's customers? - Correct answer total revenues" "Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Correct answer costs" "What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Correct answer profit=sales-costs" "What is the name for the net value achieved by b...