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Hotel Revenue Management Chapters 1-6 Exam Questions With Accurate Solutions

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Revenue management, sometimes called yield management, is a set of revenue maximization strategies and tactics that: - ANSWER-can be used to increase profitability When the American Airlines CEO developed yield management, what type of information was crucial to its success? - ANSWER-Forecasting Which of the following statements about hotel revenue management is FALSE? - ANSWER-Revenue mgt. is new, as are all the strategies that are employed to maximize profit Which of the following is NOT a criterion needed for an industry to unlock the full potential of revenue management? - ANSWER-Low fixed cost and high variable cost Total revenue management refers to: - ANSWER-Managing several revenue streams at the same time

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