HRTM 110: Midterm Question and
answers correctly solved
City Hotel - correct answer -First hotel
-Opened in 1794
-First to allow you to have your own private room
-NYC
-Became original Waldorf Astoria, then empire state building
-Also the first office building
Tremont House - correct answer -opened in 1829
-oldest standing hotel
Franchisor - correct answer originator of the concept/business idea
Franchisee - correct answer franchised the concept/business idea
Management Company - correct answer Operational responsibility
-ex. Marriott
Owner - correct answer -Has financial responsibility
-whoever gets profits and is not a hotel company, can be anyone
--ex. Donald Trump
Real Estate Investment Trust (REIT) - correct answer -existed since early
1960s
, -publicly traded
-investors like them
Ways to classify hotels - correct answer by location, types of services offered,
and market price levels
City Center Hotels - correct answer -More likely for business travelers
because they do business downtown
-Range of accommodations and services
-Typically have a signature restaurant
Resort Hotels - correct answer -originated due to rail travel
-"captured clientele"
-food service is unique
-diversified marketing mix
-busier on weekends than on weekdays
-vacation ownership
Vacation Ownership - correct answer -fastest growing segment of travel
industry
-estimated 2 million households own at 3500 resorts in almost 90 countries
-helps ensure today's price from tomorrow's vacation
-may have yearly maintenance fees
Timeshare - correct answer -A condo that is owned
-Purchaser uses for specific period of time each year
answers correctly solved
City Hotel - correct answer -First hotel
-Opened in 1794
-First to allow you to have your own private room
-NYC
-Became original Waldorf Astoria, then empire state building
-Also the first office building
Tremont House - correct answer -opened in 1829
-oldest standing hotel
Franchisor - correct answer originator of the concept/business idea
Franchisee - correct answer franchised the concept/business idea
Management Company - correct answer Operational responsibility
-ex. Marriott
Owner - correct answer -Has financial responsibility
-whoever gets profits and is not a hotel company, can be anyone
--ex. Donald Trump
Real Estate Investment Trust (REIT) - correct answer -existed since early
1960s
, -publicly traded
-investors like them
Ways to classify hotels - correct answer by location, types of services offered,
and market price levels
City Center Hotels - correct answer -More likely for business travelers
because they do business downtown
-Range of accommodations and services
-Typically have a signature restaurant
Resort Hotels - correct answer -originated due to rail travel
-"captured clientele"
-food service is unique
-diversified marketing mix
-busier on weekends than on weekdays
-vacation ownership
Vacation Ownership - correct answer -fastest growing segment of travel
industry
-estimated 2 million households own at 3500 resorts in almost 90 countries
-helps ensure today's price from tomorrow's vacation
-may have yearly maintenance fees
Timeshare - correct answer -A condo that is owned
-Purchaser uses for specific period of time each year
