Adr average daily rate - Study guides, Class notes & Summaries
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Revenue Management Final Exam | Updated Question & Answers Graded A + 2023/2024
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Revenue Management Final Exam | Updated Question & Answers Graded A + 2023/2024 
 
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 p...
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Revenue Management Final Exam | Latest 2023 with complete solution
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Revenue Management Final Exam | Latest 2023 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? - Profit 
What elem...
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CHIA Exam Questions with 100% correct Answers
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who are players in the hotel industry - ANSWER-affiliations 
operations and independents 
 
categorizations used by hotel industry - ANSWER-geographic categories 
non-geographic categories 
 
what affiliations could a single hotel have - ANSWER-chain 
parent company 
management company 
owner 
asset management company 
 
chain - ANSWER-represents hotel brand which is clearly displayed to public and in all interactions 
 
STR uses ____ and _____ synonymously - ANSWER-chain and brand 
 
parent co...
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CHIA Certification Exam 2023 with 1000% correct answers
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What was the first chain 
Holiday Inn 
 
 
 
What type of company has a contract where it receives payment and/or some portion of profits? 
Management Company 
 
 
 
What are the 2 top markets in the U.S.? 
Orlando, FL 
Chicago, IL 
 
 
 
What are the top 2 U.S. Metro Markets by number of properties? 
Chicago, IL 
Orlando, FL 
 
 
 
What is the top U.S. Metro Market by occupancy? 
Fort Lauderdale, FL 
 
 
 
What is the top U.S. Metro Market by average daily rate? 
Chicago, IL 
 
 
 
What market ...
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Revenue Management Final Exam Question & Answers 2022
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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 
 
-prof...
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Hospitality Revenue Management final exam review Questions And Answers With Complete Solutions
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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? - Answerprofit 
What element is not present in a barter economy? - Answer-...
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Hospitality Revenue Management final exam review | Questions with 100% Correct Answers | Verified | Updated 2024
- Exam (elaborations) • 44 pages • 2024
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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 calcu- late their selling prices?: costs 
What is an algebraic equivalent of the formula: Sales = Costs + Profit?: prof- it=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 ca...
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Revenue Management Final Exam Questions with 100% Correct Answers
- Exam (elaborations) • 18 pages • 2024
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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? - AnswerProfit 
What element is not present in a barter economy? - Ans...
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Revenue Management Final Exam
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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 eco...
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Revenue Management Questions with Correct Answers
- Exam (elaborations) • 8 pages • 2024
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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 incentives are based on, the hotel's performance or profit can differ 
 
Describe to someone who ha...
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