CHIA Exam UPGRADED 2023 A+

CHIA Exam UPGRADED 2023 A+ Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? - CORRECT ANSWER-Accor Most of the entities below are classified as "Parent Companies". Which one is a "Chain" that is a member of a larger Parent Company? - CORRECT ANSWER-Holiday Inn Which is a true statement about Parent Companies? - CORRECT ANSWER-Parent Companies and the related chains have changed over time What are the three different operation types? - CORRECT ANSWER-Chain Management, Franchise, Independent Which is a true statement about independent hotels? - CORRECT ANSWERIndependent hotels are not affiliated with a specific chain Which is a true statement about Management Companies? - CORRECT ANSWERManagement companies have contracts where they receive payment for their services and/or some portion of profits Which is a true statement regarding geographic categorization? - CORRECT ANSWERSTR uses the UNWTO definitions when it comes to recognizing countries Which is a true statement regarding markets? - CORRECT ANSWER-No market will ever cross country boundaries In descending order of geographic size, which option below is correct? - CORRECT ANSWER-Continent, Sub-Continent, Country, Market, Submarket Which two geographic categories are the most important for a hotel GM? - CORRECT ANSWER-Market and Submarket Markets and submarkets are created based on what two determining factors? - CORRECT ANSWER-Number of hotels and participation Which is a true statement regarding submarkets? - CORRECT ANSWER-A submarket may represent a small city in a rural market Changes to how Markets and Submarkets are geographically defined are made how often? - CORRECT ANSWER-Annually Which two non-geographic categories are the most important for a hotel GM? - CORRECT ANSWER-Scale and class How many Scale categories are there compared to Class categories? - CORRECT ANSWER-7 Scale categories and 6 Class categories Which one of the following is an accurate statement regarding Scale and Class groups and a single chain? - CORRECT ANSWER-A Ritz Carlton hotel will always be in the same Scale and Class groups in every country throughout the world Which one of the following is an accurate statement regarding Class groups? - CORRECT ANSWER-Independent hotels are slotted into Class groups based upon the ADR of the independent hotel compared to the chain hotels in the same market Which one of the following is NOT a Location Category used by the hotel industry? - CORRECT ANSWER-Oceanfront Which is NOT a valid non-geographic category? - CORRECT ANSWER-Guest Satisfaction Rating Benchmarking in the hotel industry takes place at what level? - CORRECT ANSWERAll of the above levels Comp sets are used for many purposes in hotel operations, which of the following is one of these purposes? - CORRECT ANSWER-All of the above are examples of how comp sets are used The four key considerations when creating a Competitive Set are? - CORRECT ANSWER-Participation, Proximity, Pricing and Product All of the following are good reason for a hotel to have an additional competitive set, except which one? - CORRECT ANSWER-Have one set that you can easily beat and another which is a realistic target When can a competitive set be created? - CORRECT ANSWER-A competitive set may be created while the hotel is under construction Who creates a competitive set for a chain hotel? - CORRECT ANSWER-It is a joint effort involving many stakeholders What is the average number of hotels in a competitive set? - CORRECT ANSWERBetween 6 and 7 Which is a valid rule related to creating a competitive set? - CORRECT ANSWER-When percentages are calculated, the rooms of the subject hotel, as well as the same chain and parent company, are excluded When can a competitive set be changed? - CORRECT ANSWER-At any time, although many wait until the beginning of the year Which is NOT a valid rule related to changing a competitive set? - CORRECT ANSWER-A single hotel may be added to a competitive set at any time The definitions for Supply, Demand and Revenue used by STR and others in the lodging industry are taken from what source? - CORRECT ANSWER-Uniform System of Accounts for the Lodging Industry Which statement is true regarding raw data that is submitted to STR? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER-Sunday thru Thursday In which of the following situations will occupancy increase? - CORRECT ANSWERSupply decreases 10% and demand decreases 5% Which statement is true regarding RevPAR? - CORRECT ANSWER-It can be thought of as a combination of Occupancy and ADR Which one of the following statements is accurate regarding "Sufficiency" as it related to competitive set data? - CORRECT ANSWER-The sufficiency rules are in place to protect the confidentiality of the data Key Performance Indicators (KPI) for the Competitive Set (for example the average Occupancy) are: - CORRECT 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? - CORRECT 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? - CORRECT ANSWER-The comp set average is calculated based upon the reporting hotels When you receive your STAR report your ADR index was 110 and your Occupancy index was 90. What do you know? - CORRECT 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? - CORRECT 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? - CORRECT ANSWER-Your hotel has the 3rd highest ADR among the members of your competitive set When talking about U.S. Industry Data, which is an accurate explanation of "modeled data"? - CORRECT 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? - CORRECT ANSWER-New hotel openings, Hotel closings, Hotel room additions, and Hotel room drops What is the minimum number of reporting hotels for an industry segment to be considered "sufficient"? - CORRECT ANSWER-Four Hotels and hotel companies outside the U.S. may receive STAR reports in what currency? - CORRECT ANSWER-Local Currency, US dollars or a third currency (the company gets to decide) Modeled data is used in which country? - CORRECT ANSWER-United States How are exchange rates handled when it comes to multiple time periods, e.g. YTD, Running 3 month or Running 12 month? - CORRECT ANSWER-Raw data is aggregated using the exchange rate for each individual month, then the KPIs are calculated for the time period. Which one of the following is a non-geographic category shown on the STAR report? - CORRECT ANSWER-Class What information is never included on a STAR report? - CORRECT ANSWERPerformance data for individual competitors What are the four steps in the iterative process to effectively use the STAR data? - CORRECT ANSWER-Analyze, Identify, Develop and Monitor Which statement is true regarding the industry data that a hotel may see on a STAR report? - CORRECT ANSWER-North America hotels will see industry data for Market, Market Class, Submarket and Submarket Scale Which one of the following is an accurate statement regarding Segmentation and Additional Revenue data on the STAR Reports? - CORRECT ANSWER-A good example of Contract Rooms and Revenue is airline crew business Which one of the following is an accurate statement regarding the performance at your hotel? - CORRECT ANSWER-Your Occupancy Index (MPI) has surpassed 100 in each of the four time periods shown The line graph at the top of the Competitive Set Report in a monthly STAR report shows what? - CORRECT ANSWER-Index values for Occupancy, ADR and RevPAR The Competitive Set Report in a Monthly STAR Report shows what information? - CORRECT ANSWER-18 months of monthly data and 3 years of YTD, Running 3- month, and Running 12-month data Which of the following statements best describes performance of your hotel over the last six months? - CORRECT ANSWER-Your hotel's Occupancy Rank has consistently been 2 of 5 Which is an accurate statement regarding the Day of Week and Weekday/Weekend tab in the Monthly STAR report? - CORRECT ANSWER-All of the above Based on the information provided above, which one of the following is an accurate statement? - CORRECT ANSWER-The Weekend Occupancy for your hotel is consistently higher than your Competitive Set for all time periods The "Weekly Performance At A Glance" tab on the Weekly STAR report displays what information? - CORRECT ANSWER-All of the above The "Perspectives" tabs of the Weekly STAR report show all but the following information? - CORRECT ANSWER-Monthly performance numbers for the last 3 months The "Daily Data for the Month" tab on the Weekly STAR report displays what information? - CORRECT ANSWER-All of the above are displayed on this report Based upon the first nine days of the month, what can you determine about your hotel's Occupancy performance? - CORRECT ANSWER-The Competitive Set's Occupancy improved year-over-year every day Which is NOT an accurate statement regarding the differences between STAR Reports, Ad-hoc Industry Reports, and Destination Reports? - CORRECT ANSWER-Hotels and hotel companies cannot obtain Ad-Hoc Industry reports or Destination Reports Which of the following is a rule related to requesting Trend report(s)? - CORRECT ANSWER-All of the above are rules related to requesting a Trend Report Which of following is NOT a valid way to select hotels for a Trend Report? - CORRECT ANSWER-Ask STR to select the best performing hotels in an area