CHIA Practice Exam with Complete & Verified Solutions | 100% Correct

CHIA Practice Exam with Complete & Verified Solutions | 100% Correct Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? - Answer ️️ -Starwood Hotels and Resorts, Accor Which is a true statement about Parent Companies? - Answer ️️ -parent companies and the related chains have changed over time What are the three different operation types? - Answer ️️ -corporate (chain management), franchise, independent Which is a true statement about independent hotels? - Answer ️️ -independent hotels are not affiliated with a specific chain Which is a true statement about management companies? - Answer ️️ -management companies have contracts where they receive payment for their services and/or some portion of profits Which is a true statement regarding geographic categorization? - Answer ️️ -STR uses UNWTO definitions when it comes to recognizing countries Which is a true statement regarding markets? - Answer ️️ -no market will ever cross country boundaries In a descending order of geographic size, which option below is correct? - Answer ️️ - continent, sub-continent, country, market, tract/sub-market Which two geographic categories are the most important for a hotel GM? - Answer ️️ -market and tract/sub market Markets and tracts are created based on what two determining factors? - Answer ️️ -number of hotel and participation Which is a true statement regarding Tracts? - Answer ️️ -tracts are referred to as sub markets outside of North America Changes to how Markets and Tracts are geographically defined are made how often? - Answer ️️ -annually Which two non-geographic categories are the most important for a hotel GM? - Answer ️️ - scale and class How many Scale categories are there compared to Class categories? - 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? - 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? - 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 of the following is NOT a location category used by the hotel industry? - Answer ️️ - oceanfront Which is NOT a valid non geographic category? - Answer ️️ -guest satisfaction rating Benchmarking in the hotel industry takes place at what level? - Answer ️️ -property level for an individual hotel versus their competitive set corporate level for a hotel company, for example one brand versus the others geographic level for tourism organizations, for example city versus comparable cities Comp sets are used for many purposes in hotel operations, which of the following is one of these purposes? - Answer ️️ -comp sets can be used to aid the sales and marketing departments in determining the effectiveness of various pricing decisions comp sets can be used in management contracts for performa