CHIA Exam Questions With 100% Correct Answers 2024

CHIA Exam Questions With 100% Correct Answers 2024 Calculate % Change - answerThis year - last year / last year *100 Which one of the following is a chain? a.Hampton Inn b.Radisson Blu c.Accor Hotels d.Holiday Inn Express - answerc. Accor Hotels What statement is true about parent companies? a. Parent companies and the related chains have changed over time b.Parent companies must consist of no more than five chains c.Parent companies can only consist of chains in a single scale d.Parent companies can only have hotels in a single country - answera.Parent companies and the related chains have changed over time. What are the three different operation types? - answerChain Management, Franchise, Independent Which is true about independent hotels? a. Independent hotels are not affiliated with specific chain b.Chain hotels outnumber independent hotels in every country of the world c.Independent hotels are most luxury class hotels in urban locations with more than 150 rooms d.Independent hotels may never be managed by an outside entity - answera. Independent hotels are not affiliated with specific chain Which is true about management companies? a.Management companies have contracts where they receive payment for their services and or some portion of profits. b.Management companies may manage only one chain c.Management companies will always own the same hotels they manage d.Management companies serve the exact same role as asset management companies - answera.Management companies have contracts where they receive payment for their services and or some portion of profits. Occupancy Formula - answerDemand/Supply *100 Rooms Sold/Rooms available *100 ADR Formula - answerRevenue/Demand RevPAR Formula - answerRevenue/Supply combination of occupancy and ADR Benchmarking in the hotel industry takes place at what level? - answerAll levels - property level, corporate level & geographic level Comp sets are used for many purposes in hotel operations, what are the purposes? - answerAid sales and marketing departments, management contracts for performance requirements and they have an effect on the general manager's compensation The four key considerations when creating a Competitive Set? - answerParticipation, Proximity, Pricing and Product What is an example of a bad competitive set that a hotel shouldn't have? - answerYou shouldn't have a competitive set that you can easily beat and one that's realistic. When can a comp set be created? - answerwhen the hotel is under construction Who creates a competitive set? - answerMany different stakeholders What is the average number of hotels in a competitive set? - answerBetween 5 and 6 Which is a valid rule related to creating a competitive set? - answerWhen percentages are calculated, the rooms of the subject hotel, as well as the same chain and parent company, are excluded Which is a true statement regarding geographic categorization? a.STR geographic categories are limited to North America b. STR uses the UNWTO definitions when it comes to recognizing categories c.General Managers of hotels do not need to know geographic categories d.The hotel industry uses seven continents to categorize hotels - answerb. STR uses the UNWTO definitions when it comes to recognizing categories Which is a true statement regarding markets? a.Markets include hotels that are in big cities, not rural areas b.A country would never have more than 1000 markets and never have less than 2 markets c.No market will ever cross country boundaries d.There is another name for markets outside the US - answerc.No market will ever cross country boundaries In descending order of geographic size, which is correct a. Continnent, sub continent, country, submarket, market b, continent, country, sub continent, sub market, market nent, sub continent, market, country, submarket nent, subcontinent, country, market, submarket - answernent, subcontinent, country, market, submarket Which two geographic categories are the most important for a hotel GM? - answerMarket and Submarket Markets and submarkets are created based on what two determining factors? - answernumber of hotels and participation What is true about submarkets? - answerA submarket may represent a small city in a rural market Changes to how markets and submarkets are geographically defined are generally made how often? - answerAnnually Which 2 non geographic categories are most important for a hotel GM - answerScale and class Scales and classes - answer7 scales 6 classes What is true about Scale and Class groups in a single chain - answerA ritz Carlton will be in the same scale and class groups in every country What is accurate regarding class groups? - answerIndependent hotels are slotted into class groups based on the ADR of the hotel compared to the chain hotels in the same country or market The definitions for supply, demand and revenue used by STR and others in the lodging industry are taken from what source? - answerUniform System of Accounts for the Lodging Industry Which statement is true regarding raw data that is submitted to STR - answerThe majority of data is exported from the hotel company