Hospitality revenue mana - Study guides, Class notes & Summaries

2025 LATEST REVENUE MANAGEMENT FINAL EXAM PRACTICE WITH 250 EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS/ HOSPITALITY REVENUE MANAGEMENT FINAL EXAM PREP (NEW!)

What is the industry term used to describe the sum of prices paid by a business's customers? Ans- total revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? Ans- costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? Ans- profit=sales-costs What is the name for the net value achieved by both parties in a business transaction? Ans- profit What element is not present in a barter economy? Ans- money Wha...

HOSPITALITY REVENUE MANAGEMENT FINAL/ HOSPITALITY REVENUE MANAGEMENT ACTUAL EXAM ELABORATED QUESTIONS AND CORRECTLY ANSWERS 100% ALREADY RANKED. Which two geographic categories are the most important for a hotel GM? You Answered - ANSWER- Market and Tract/Sub-Market The four key considerations when creating a Competitive Set are? - ANSWERParticipation, Proximity, Pricing and Product What is the average number of hotels in a competitive set? - ANSWER- between 5 and 6 When can a compe...