Calculate revpar Study guides, Class notes & Summaries

Revenue Management Final Exam with 100% Correct Answers | Verified | Latest Update 2024 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? - Pr...

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 element is not present in a barter economy? - money What is the formula used to...

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 both parties in a business transaction? - Correct Answer profit What element is not...

REVENUE MANAGEMENT FINAL EXAM, PRACTICE EXAM 2024 LATEST VERSIONS QUARANTEED PASS QUESTIONS CORRECTLY ANSWERED.. What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER- Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER- Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWERProfit = Sales - Costs What is the name for the net valu...

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 both parties in a business transaction? - Correct Answer Profit What element is...

Revenue Management Final Exam Question & Answer 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 eleme...

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

Revenue Management Questions and Answers 100% Pass Revenue Management selling to the right guests at the right time at the right price to make the most profit Two characteristics of hospitality product perishability & intangibility How are revenue managers incentivized financially? How might this influence their decisions? on diff. basis such as RevPAR, Index, % Change - depending on what their incentives are based on, the hotel's performance or profit can differ Describe to someone who has ...

Revenue Management questions and answers latest top score. Revenue Management - correct answer. selling to the right guests at the right time at the right price to make the most profit Two characteristics of hospitality product - correct answer. perishability & intangibility How are revenue managers incentivized financially? How might this influence their decisions? - correct answer. on diff. basis such as RevPAR, Index, % Change - depending on what their incen...

Revenue Management Final exam practice questions and answers 100% correct (2024/2025) 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 ...