Lodging Management Midterm Exam
questions n answers graded A+
cyclical industry, perishability, seasonality - ANS ✔3 factors of the lodging industry
cyclical industry - ANS ✔many external factors have an influence on the lodging industry (ex.
economic or political issues)
perishability - ANS ✔at midnight, value of unsold inventory is $0. tomorrow we are selling
tomorrow's inventory. this puts pressure on staff to "sell now."
seasonality - ANS ✔within a year (business fluctuates from winter to spring to summer to fall in
most hotels)
within month(business fluctuates from early to mid to late parts of the month)
within week (corporate/downtown hotels busy on weekday, empty on weekends, leisure hotels
are busy on the weekends and empty on week nights)
how many hotels are in the US? - ANS ✔54,200
how many hotels rooms are in the US? - ANS ✔5 million
how many american jobs do hotels supply? - ANS ✔8 million
how much $ do hotels bring in in sales in a given year? - ANS ✔1 trillion
,what percentage of hotels are small businesses? - ANS ✔61%
lodging industry - ANS ✔all businesses that provide overnight accommodations for guests
hotel - ANS ✔an establishment that provides sleeping rooms as well as various services to the
traveling public.
hotelier - ANS ✔the owner/manager of one or more hotels
tourist - ANS ✔a person who travels for the purpose of pleasure
amenities - ANS ✔hotel products and services designed to attract guests
1900-2010 - ANS ✔american lodging facilities have evolved to include a tradition and
orientation to guest service worth nothing
what are the two different types of lodging available? - ANS ✔value and full service
value lodging - ANS ✔the price paid to rent a room relative to the quality of the room and
services that are received
full service hotel - ANS ✔a lodging that offers complete food and beverage services
room service - ANS ✔the delivery of food and beverages to a hotel guests sleeping room
, limited service hotel - ANS ✔a lodging facility that offers no, or very restricted, food and
beverage services
bed and breakfast inns - ANS ✔very small properties owned or managed by persons living on
site-these businesses typically offer one meal a day, also called B&B
camps/park lodges - ANS ✔sleeping facilities in national, state, or other parks and recreational
areas that accommodate visitors to these areas.
extended-stay hotels - ANS ✔a moderately priced, limited-service hotel marketing to guests
desiring accommodation for extended time periods (generally one week or longer).
convention hotel - ANS ✔a lodging property with extensive and flexible meeting and exhibition
spaces that markets to associations, corporations, and other groups bringing people together
for meetings.
conference cener - ANS ✔a specialized hospitality operation specifically designed for and
dedicated to the needs of small and medium sized meetings of 20 to 100 people
resort - ANS ✔a full service hotel with additional attractions that make it a primary destination
for travelers
timeshare - ANS ✔a lodging property that sells its rooms to guests for use during a specific time
period each year; also called vacation ownership property
private clubs - ANS ✔Membership organizations not open to the public that exist for people
enjoying common interests. Examples include country (golf) clubs, city clubs, university clubs,
yacht clubs, and military clubs. Some private clubs offer sleeping rooms for members and
guests.
questions n answers graded A+
cyclical industry, perishability, seasonality - ANS ✔3 factors of the lodging industry
cyclical industry - ANS ✔many external factors have an influence on the lodging industry (ex.
economic or political issues)
perishability - ANS ✔at midnight, value of unsold inventory is $0. tomorrow we are selling
tomorrow's inventory. this puts pressure on staff to "sell now."
seasonality - ANS ✔within a year (business fluctuates from winter to spring to summer to fall in
most hotels)
within month(business fluctuates from early to mid to late parts of the month)
within week (corporate/downtown hotels busy on weekday, empty on weekends, leisure hotels
are busy on the weekends and empty on week nights)
how many hotels are in the US? - ANS ✔54,200
how many hotels rooms are in the US? - ANS ✔5 million
how many american jobs do hotels supply? - ANS ✔8 million
how much $ do hotels bring in in sales in a given year? - ANS ✔1 trillion
,what percentage of hotels are small businesses? - ANS ✔61%
lodging industry - ANS ✔all businesses that provide overnight accommodations for guests
hotel - ANS ✔an establishment that provides sleeping rooms as well as various services to the
traveling public.
hotelier - ANS ✔the owner/manager of one or more hotels
tourist - ANS ✔a person who travels for the purpose of pleasure
amenities - ANS ✔hotel products and services designed to attract guests
1900-2010 - ANS ✔american lodging facilities have evolved to include a tradition and
orientation to guest service worth nothing
what are the two different types of lodging available? - ANS ✔value and full service
value lodging - ANS ✔the price paid to rent a room relative to the quality of the room and
services that are received
full service hotel - ANS ✔a lodging that offers complete food and beverage services
room service - ANS ✔the delivery of food and beverages to a hotel guests sleeping room
, limited service hotel - ANS ✔a lodging facility that offers no, or very restricted, food and
beverage services
bed and breakfast inns - ANS ✔very small properties owned or managed by persons living on
site-these businesses typically offer one meal a day, also called B&B
camps/park lodges - ANS ✔sleeping facilities in national, state, or other parks and recreational
areas that accommodate visitors to these areas.
extended-stay hotels - ANS ✔a moderately priced, limited-service hotel marketing to guests
desiring accommodation for extended time periods (generally one week or longer).
convention hotel - ANS ✔a lodging property with extensive and flexible meeting and exhibition
spaces that markets to associations, corporations, and other groups bringing people together
for meetings.
conference cener - ANS ✔a specialized hospitality operation specifically designed for and
dedicated to the needs of small and medium sized meetings of 20 to 100 people
resort - ANS ✔a full service hotel with additional attractions that make it a primary destination
for travelers
timeshare - ANS ✔a lodging property that sells its rooms to guests for use during a specific time
period each year; also called vacation ownership property
private clubs - ANS ✔Membership organizations not open to the public that exist for people
enjoying common interests. Examples include country (golf) clubs, city clubs, university clubs,
yacht clubs, and military clubs. Some private clubs offer sleeping rooms for members and
guests.
