CHIA Exam Questions With 100% Correct Answers 2024

CHIA Exam Questions With 100% Correct Answers 2024 What is a chain? How many in the US? How many in the world? What was the first? - answer(1) displays hotel brand, which is clearly displayed to the public on the building and in all interactions with the customer (2) 24 chains in the US with 50,000 rooms or more (3) 28 chains in the world with 75,000 rooms or more (4) Holiday Inn was the first chain What is a parent company? How many in the US? How many in the world? What do they have a mixture of? - answer(1) consist of multiple chains (2) often parent companies will have a variety of different types of chains (3) 22 parent companies in the US with 10,000 rooms (4) 34 parent companies worldwide with 25,000 rooms or more (5) most parent companies will have a mixture of corporate and franchise hotels What is a management company? How many in the US? How many in the world? - answer(1) operates a hotel for another party (2) has a management contract where it receives payment and/or some portion of profits (3) 32 management companies in the US with 8,000 rooms (4) 58 management companies worldwide with 10,000 rooms (5) some chains or parent companies manage their own hotels What is an owner company? How many in the US? How many in the world? - answer(1) many companies own multiple hotels (2) 24 owner companies in the US (3) 46 owner companies worldwide with 10,000 rooms (4) some chain or parent companies own their own hotels What is an asset management company? How many in the US? How many in the world? - answer(1) represents the owner in the operation of a hotel (2) hotel may have both a management company and an asset management company (3) 30 asset management companies in the US (4) 39 asset management companies worldwide with 1,000 rooms (5) relatively new type of affiliation Census - answerSTR's database of 160,000 hotels Corporate Hotel - answera chain hotel owned and/or managed by the chain or the parent company Franchise Hotel - answera chain hotel run by a third party where the chain receives some sort of franchise fee Independent Hotel How many in the US? How many in the world? - answer(1) not affiliated with a chain or parent company (2) 21,300 independent hotels in the US with 1.5 million rooms (3) 100,000 independent hotels in the world in the STR database with 7.2 million rooms Chain to Independent hotel distribution - answer(1) in the US: 70% chain, 30% independent (2) worldwide: 47% chain, 53% independent How many hotels provide performance data to STR? - answer(1) in the US: 31,000 hotels, 94% of chain hotels and 2,200 independent hotels (2) outside US: 20,000 hotels, including 2,900 independent hotels Quasi Chains or Soft Brands - answer(1) cross between a chain and a marketing group from independent hotels (2) created to bring hotels under a parent company flag (3) hotels receive benefits of a parent company while being fairly independent (4) smaller franchise fees and more independence than a true chain or brand What are the 6 major geographic categories used by the hotel industry? - answer(1) world (2) continent (3) sub-continent (4) country (5) market (6) tract or submarket Continents and Subcontinents - answer(1) 4 continents: Americas, Europe, Mideast/Africa, and Asia Pacific (2) each continent has 3-4 subcontinents (3) STR definitions roughly correspond to the UNWTO definitions Americas subcontinents - answer(1) caribbean (2) central america (3) north america (4) south america Asia Pacific subcontinents - answer(1) central & south asia (2) northeastern asia (3) southeastern asia (4) australia & oceania Europe subcontinents - answer(1) eastern europe (2) northern europe (3) southern europe (4) western europe Mideast Africa - answer(1) middle east (2) northern africa (3) southern africa What definitions does STR use when recognizing countries? Countries* (2-4) How many countries have no properties? - answer(1) STR uses UNWTO definitions when recognizing countries (2) Territories such as US virgin islands and puerto rico would appear as separate countries (3) there are 211 countries with one or more hotel (4) there 39 countries with 50,000 rooms or more (5) there are 9 countries with no properties (Central African Republic, Falkland Islands, Kiribati, Kosovo, Liberia, Nauru, North Korea, South Sudan, and Tuvalu) How many hotels are there in the US? - answer53,000 Regions How many in US? What do they correspond to? - answer(1) Larger countries are split into regions (2) there are 9 regions in the US that correspond to the government census regions Markets - answer(1) market is one of the most important geographic categories below country, especially for a hotel GM (2) Markets are created based upon the number of hotels in an area and the participation (3) Markets are commonly thought of as cities, although they are also used to represent more more rural areas outside of the major cities (4) in some countries, there may be large number of markets, whereas in others, especially developing areas, there may be just a small number of markets Markets in the US How many? What do they roughly correspond to? Can they cross state borders? - answer(1) the US is broken up into 163 geographic areas called markets (2) Markets roughly correspond