Travel and Tourism

University of Iowa Introduction to Travel and Tourism Exam 2 Latest Update + Questions and Verified Correct Answers Guaranteed A+

Revenue Management Final Exam and Answers. What is the industry term used to describe the sum of prices paid by a business's customers? - Answer Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Answer Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Answer Profit What e...

HOSP 1010- Gaillard, Exam 1 Questions and Answers 100% Pass What is the symbol for hospitality? - Answer- a pineapple; symbol of welcome and friendship, What is the service distinction made up of? - Answer- intangibility, inseparability, perishability, and variability Intangilbility - Answer- can't be seen, tasted, felt, heard, or smelled before purchase Inseparability of Production and Consumption - Answer- Production of a service cannot be separated from its consumption by customers- ...

Hosp 1010 Ch 1-6 Exam Questions and Answers 100% Pass ________ are lodging facilities where the owner lives on premises or nearby and provides memorable, attractive accommodations and breakfast. - Answer- Bed and breakfast 75% of car rental sales take place at: - Answer- airports A commitment to excellence should begin: - Answer- At the beginning of ones hospitality career A demand forecasting technique used to maximize room revenue is known as: - Answer- Revenue Management A guest is ...

BTEC Travel and Tourism

This formula represents a buyers view of a sales transaction? - Perceived Value-Selling Price=Personal Profit Effective revenue managers use this to best develop and evaluate their organizations pricing and revenue management strategies and tactics. - Regular Strategy meetings A pricing system based upon a buyers view of product or service value - Value-based pricing Included in the Place portion of a hotel's marketing mix - Distribution channels Tasha's hotel sold 175 rooms last night a...

TOUR 1P92 Midterm Flashcards Questions and Answers Graded A+ - Tourism is integrally connected to distinctive place specific characteristics and is driven by people's desire to have an experience in, and form a relationship w/ unfamiliar places. - Tourism is all about the production and consumption of in-place experiences - The fundamental condition for the development of tourism in the first place is that travelers must have both the ability and the willingness to travel (there must be a de...

Exam 1 Questions and Answers Fully solved 2024 Terms in this set (81) Original Tru is a new brand launched by Hilton to enter the upscale market. False The average number of rooms in a luxury hotel in the U.S. is about: A) 500-550 B) 300-350 C) 100-150 D) 0-50 B) 300-350 To find a safe and high quality hostel, you want to check if the hostel is a member of the Youth Hostel Association (Hostelling International). True Which of the following is NOT a benefit of bei...

1.06 Industry of Fun Exam Questions and Answers 2024 Which characteristic would be considered an advantage of working in the hospitality and tourism industry for someone who enjoys change? Variety in daily tasks A group of restaurant owners have decided they want to merge their businesses into one business. They need to choose a business model that gives them legal protection that separates their personal assets from their business assets. They also need to have a board of directors to ...

Business management 101 chapter 1-7 Questions and Answers 100% Pass Business - Answer- any activity that seeks to provide goods and services to others while operating at a profit. Entrepreneur - Answer- a person who risks time and money to start and manage a business Goods - Answer- tangible products such as computers, food, clothing, cars services - Answer- intangible products, such as education, health care, insurance, recreation, and travel and tourism. revenue - Answer- the total am...