FINAL CHIA PRACTICE
Exam with correct Answers
What happens when a chain is categorized in a specific scale group - Answer Every hotel
in that chain is in that same scale group every where in the world, country, and market.
STR location categories - Answer 1) Urban - in large metro cities
2) Suburban - in the suburbs of the cities above
3) Airport - close to a major airport
4) Interstate - close to a major highway
5) Resort - primarily leisure destination hotels
6) Small Metro/Town - in smaller metro areas
Non-geographic categories - Answer Non-geographic Categories→
1) Scale
2) Class
3) Location
4) Extended Stay
5) Boutique
6) Destination Resort
7) Additional Hotel Types
, 8) Hotel Ratings
COMP SETS ARE USED FOR MANY PURPOSES IN HOTEL OPERATIONS - Answer
What are the 4P'S considerations when creating a comp set? - Answer Proximity,
Pricing, Product, and Participation
Who can create a competitive set - Answer Joint effort by many stakeholders
Average number of hotels in a comp set - Answer 5 and 6
Reverse Comp Set - Answer Properties that name you in their competitive set
A single hotel may be added to a competitive set if it has been open less than six month. -
Answer True
How Does STR Obtain Raw Data? - Answer Most raw property sales data is
directly exported from the systems of hotel companies.
Companies send STR a raw data file each month, week, and/or day.
Some hotels and smaller companies enter the data on the STR web site.
How is occupancy related to supply and demand? - Answer If supply remains the same,
and demand goes up. Occupancy increases.
Exam with correct Answers
What happens when a chain is categorized in a specific scale group - Answer Every hotel
in that chain is in that same scale group every where in the world, country, and market.
STR location categories - Answer 1) Urban - in large metro cities
2) Suburban - in the suburbs of the cities above
3) Airport - close to a major airport
4) Interstate - close to a major highway
5) Resort - primarily leisure destination hotels
6) Small Metro/Town - in smaller metro areas
Non-geographic categories - Answer Non-geographic Categories→
1) Scale
2) Class
3) Location
4) Extended Stay
5) Boutique
6) Destination Resort
7) Additional Hotel Types
, 8) Hotel Ratings
COMP SETS ARE USED FOR MANY PURPOSES IN HOTEL OPERATIONS - Answer
What are the 4P'S considerations when creating a comp set? - Answer Proximity,
Pricing, Product, and Participation
Who can create a competitive set - Answer Joint effort by many stakeholders
Average number of hotels in a comp set - Answer 5 and 6
Reverse Comp Set - Answer Properties that name you in their competitive set
A single hotel may be added to a competitive set if it has been open less than six month. -
Answer True
How Does STR Obtain Raw Data? - Answer Most raw property sales data is
directly exported from the systems of hotel companies.
Companies send STR a raw data file each month, week, and/or day.
Some hotels and smaller companies enter the data on the STR web site.
How is occupancy related to supply and demand? - Answer If supply remains the same,
and demand goes up. Occupancy increases.
