Chia 2 Exam with complete solutions

30) The definitions for Supply, Demand and Revenue used by STR and others in the lodging industry are taken from what source? - ANSWER-Uniform System of Accounts for the Lodging Industry Which statement is true regarding raw data that is submitted to STR? - ANSWER-The majority of data is exported from the hotel company systems Which is true regarding the type of performance data (Supply, Demand, Revenue) that STR receives? - ANSWER-Daily and monthly only You receive your monthly STAR and find that it includes weekday and weekend performance, what days are included in "weekday" in most parts of the world? - ANSWER-Sunday thru Thursday In which of the following situations will occupancy increase? - ANSWER-Supply decreases 10% and demand decreases 5% Which statement is true regarding RevPAR? - ANSWER-It can be thought of as a combination of Occupancy and ADR The March YTD Occupancy (E5) is _______ . - ANSWER-63.2% The Average Daily Rate percent change for April (G5) is ______ - ANSWER-1.5% Which one of the following statements is accurate regarding "Sufficiency" as it related to competitive set data? - ANSWER-The sufficiency rules are in place to protect the confidentiality of the data The sufficiency rules are in place to protect the confidentiality of the data - ANSWER-Always based upon the aggregated raw data of each member of the competitive set When you receive your STAR report, your ADR for the month was $100 and the competitive set ADR was $90. What can you tell? - ANSWER-Your ADR was $10 higher than the average of all of the members of the competitive set What happens when there is a non-reporting hotel in a competitive set? - ANSWER-The comp set average is calculated based upon the reporting hotels The competitive set Occupancy (E6) for July is _____. - ANSWER-72.6% ) The competitive set RevPAR (G6) for July is _____. - ANSWER-$119.89 When you receive your STAR report your ADR index was 110 and your Occupancy index was 90. What do you know? - ANSWER-The RevPAR index will be in the neighborhood of 100 When you receive your STAR report, you see that your RevPAR index was 90 this year compared to 80 last year. What do you know for sure? - ANSWER-Your hotel will have a positive RevPAR Index Percent Change When you receive your STAR report you see that your ADR Rank for the current month is "3 of 7". What do you know? - ANSWER-Your hotel has the 3rd highest ADR among the members of your competitive set The occupancy Index for November (H3) is - ANSWER-119.2 The RevPAR Index for November (J3) is - ANSWER-117.4 The ADR Index percent change for November (I4) is - ANSWER-1.7% The RevPAR Index percent change for November (J4) is ______. - ANSWER-16% When talking about U.S. Industry Data, which is an accurate explanation of "modeled data"? - ANSWER-Modeled Data is derived by using actual data from reporting hotels to estimate performance for non-reporting hotels The number of Rooms Available in a total market can change over time due to what four factors? - ANSWER-New hotel openings, Hotel closings, Hotel room additions, and Hotel room drops What is the period of time a hotel must close completely due to renovation in order to be considered a Close and Reopen? - ANSWER-One months or longer What is the minimum number of reporting hotels for an industry segment to be considered "sufficient"? - ANSWER-four Hotels and hotel companies outside the U.S. may receive STAR reports in what currency? - ANSWER-Local Currency, US dollars or a third currency (the company gets to decide Modeled data is used in which country? - ANSWER-U.S. How are exchange rates handled when it comes to multiple time periods, e.g. YTD, Running 3 month or Running 12 month? - ANSWER-The exchange rate for each individual month, specifically the last day of that mont