Revenue Management Exam Questions & Answers 100% Verified By Experts

Revenue Management - ANSWER-selling to the right guests at the right time at the right price to make the most profit Two characteristics of hospitality product - ANSWER-perishability & intangibility How are revenue managers incentivized financially? How might this influence their decisions? - ANSWER-on diff. basis such as RevPAR, Index, % Change - depending on what their incentives are based on, the hotel's performance or profit can differ Describe to someone who has never used the STR report what the STR report is and what information it provides (aside from occupancy, ADR, RevPAR, Index, and Percentage Change). - ANSWER-- report that benchmarks against the comp. set you chose - fair share & market share??? What is an equation of Occupancy - ANSWER-Rooms sold / rooms available What is the equation of ADR? - ANSWER-room revenue / rooms sold