HTM 4453 - Revenue Management AHLA Certification Practice Exam 2023

HTM 4453 - Revenue Management AHLA Certification Practice Exam 2023 Revenue management is a set of revenue maximization strategies and tactics that - ANSWER-can be used to improve the profitability of certain businesses. When the American Airlines CEO developed yield management, what type of information was crucial to its success? - ANSWER-forecasting Which of the following statements about hotel revenue management is FALSE? - ANSWER-Revenue management is new, as are all of the strategies that are employed to maximize profit. Which of the following is NOT a criterion needed for an industry to unlock the full potential of revenue management? - ANSWER-low fixed costs and high variable costs Total revenue management refers to: - ANSWER-managing several revenue streams at the same time. To interpret measures of a hotel's performance, managers often compare those measures with - ANSWER-- the budget for the period - industry or sector averages - historical figures from comparable earlier periods at the hotel If a 300-room hotel achieves 70 percent occupancy for April at an ADR of $153 per room, what will room revenue equal? - ANSWER-$963,900 In January, the 200-room SnowBound Inn ran a skiers special that resulted in them selling 5,735 rooms during the month. What was the occupancy percentage for the month? - ANSWER-92.5 % How do an internal ADR and an external ADR differ? - ANSWER-the external ADR uses gross room revenue, while internal ADR generally does not. What is the measure of cost efficiency? - ANSWER-GOPPAR Which of the following statements is false? - Most internet searches are organic with results based solely on relevant search criteria - It is usually easier and cheaper to down-market a property than to conduct a major overhaul - brand affiliation can help a hotel property connect with its customers - competitive sets can change with new ownership or changes in the environment - ANSWER-most internet searches are orange with results based solely on relevant search criteria A given hotel's comp set should contain all other hotels - ANSWER-that compete for the same guests In a 1050-room competitive set, Hotel A has 300 rooms. Hotel B has 350 rooms, and Hotel C has 400 rooms. During a recent 30-day period in which the entire competitive set sold 25,400 rooms, Hotel sold 8,000 rooms. Which of the following statements is indisputably TRUE? - ANSWER-Hotel A exceeded its fair share Which of the following statements about market intelligence is FALSE?...