Venue management exam 1 - Study guides, Class notes & Summaries

Revenue Management Exam 1 Questions With 100% Correct!!

What are the two components of revenue management? - Answer-Supply: the amount of a good or service that a seller is willing and able to sell for an given price at any time. Demand: the amount of a good or service that a purchase is willing and able to buy for any given price at any given time What was the first reference to RM and what was its importance to the travel industry? - Answer-Taylor, CJ American Airlines, New York This work recognizes the value of selling more airlines seats ...

Revenue Management Exam 1

Revenue Management Exam 1 Study Guide

HFT4471 Revenue Management Exam 1 BONN Questions and Answers

Venue Management Exam 1 Latest 2023 with complete solution Term used for the average amount of concession or merchandise sales per person Ancillary Event Revenues A road term used to describe merchandise sold on tour Swag or Merch 2 Types of traditional rent structures for a venue Flat rate Percentage Flat rate rent One-time rent fee Percentage rent Pay the venue a percentage of the ticket sales NAGBOR Net Adjusted Gross Box Office Receipts What a promoter might say when calling ...

HFT4471 Revenue Management Exam 1 BONN Questions and Answers

Revenue Management Exam 1 Questions and Answers

Top 10 Revenue Management Mistakes - ANSWER-#1)Believing that discounting is an effective way to increase revenue. #2)Believing the right price to charge for a room night is established solely on the hotel's costs and ROI expectation. #3)Thinking that artificial intelligence - revenue management software - is superior to human intelligence. #4)Thinking that short-term goals must have priority over long-term goals. #5)Counting revenue dollars as equal - regardless of the distribution channel...

Revenue Management Exam 1 Questions and Answers