Revenue Management chap 4 Exam Questions With 100% Correct Answers

Revenue management at the strategic level - ANSWER-focuses on long-term goals such as identifying desired target markets and identifying or creating factors that differentiate one hotel from its competitors Tactical revenue management - ANSWER-focuses on operations -have relatively short time horizons ranging from same day to quarter -actions are easily quantifiable and measurable -includes forecasting, rate management, stay control, capacity management, and displacement analysis Short term forecasting - ANSWER--deals with relatively short time frames -provides information that is vital to tactical management as such daily operations and staff and staff scheduling and room allocation by business segment Long term forecasting - ANSWER--deals with longer time frames (12 months or more) -is related to strategic revenue management