Hm 441 - Study guides, Class notes & Summaries

CHAPTER 1: What is Rev Management? - Answer- Identify which of these is not a positive of using revenue management strategies and tactics: - Answer-Motivate employees The Hurdle Rate is...? - Answer-The Lowest Rate for a Given Day A benefit of variable pricing within revenue management is the smoothing of demand. - Answer-True Revenue management can be defined as - Answer-A set of strategies and techniques used to sell the right product, to the right customer, at the right time and a...

HM 441 Final Exam 55 Questions with Answers 2023 Positives of Revenue Management Strategies & Tactics - CORRECT ANSWER - Serve more guests - Increase market share - increase revenues & profitability - NOT to motivate employees What is the hurdle rate? - CORRECT ANSWER The lowest rate for a given day (T/F) A benefit of variable pricing within RM is the smoothing of demand - CORRECT ANSWER True Revenue Management can be defined as... - CORRECT ANSWER A set of strategies and techni...

HM 441 Quiz 3 (Ch.4&5) 30 Questions with Answers 2023 Pace of build refers to: a) How quickly new hotel rooms and new hotels are being added to a comp set's total supply b)The rate at which reservations are being made for a future date c)How quickly the demand for substitute products is reducing demand for hotel rooms d)The speed with which currency exchange rates are rising in a given market - CORRECT ANSWER b Denial reports from reservations show us how much more business we coul...

HM 441 Final Exam 50 Questions with Answers 2023 false - CORRECT ANSWER revenue management is a computer system and is a price discounting logistics management - CORRECT ANSWER revenue management includes a multidisciplinary management techniques applied to several sub-sectors of the hospitality. Which of the following is NOT one discipline within revenue management? forecasting - CORRECT ANSWER when the american airlines CEO developed yield management, what type of information was cr...

HM 441 TEST 2| 27 Questions with Answers 2023 You're overbooked by 1 room, its late and you need to walk 1 guest. which one should you walk? Male or female? - CORRECT ANSWER Male You need to walk one of these guests Mr. Baum: generate $230 in room revenue and there is no way to know if he would spend more Ms. Kerry: generate $330 (2x165) in room revenue plus look looking...... - CORRECT ANSWER Mr. Baum What is a guest called who decided to stay past his or her scheduled check-ou...

NHM 441 test 1: Exam Review questions and answers, rated A+ What upward growth trend over many years has had a major influence on the growth in commercial foodservice? - -Food eating away from home. What is the "main" difference in focus between commercial & noncommercial foodservice operations? - -Commercial foodservice primary focus is maximizing profits through sale of food and beverages. Noncommercial foodservice providing food and beverage service is not the company's primary ...

HM 441 Practice 44 Questions with Answers 2023 Rate Fence - CORRECT ANSWER Logical, rational rules or restrictions that allow customers to segment themselves into appropriate rate categories based on their needs, behaviors, or willingness to pay Logistical Management - CORRECT ANSWER Revenue management includes multidisciplinary management techniques applied to several subsectors of hospitality. What is NOT a discipline within revenue management? False - CORRECT ANSWER (T/F) It is n...

HM 441- RM- Final JMU 45 Questions with Answers 2023 Revenue management is a set of revenue maximization strategies and tactics that: - CORRECT ANSWER Can be used to improve the profitability of certain businesses Revenue management includes a multidisciplinary management techniques applied to several sub-sectors of the hospitality. Which of the following is NOT one discipline within revenue management? - CORRECT ANSWER Logistics Management What is the main reason travelers today ha...