CHIA Certification Exam Questions And Answers Verified 100% Correct!!

What was the first chain - Holiday Inn What type of company has a contract where it receives payment and/or some portion of profits? - Management Company What are the 2 top markets in the U.S.? - Orlando, FL Chicago, IL What are the top 2 U.S. Metro Markets by number of properties? - Chicago, IL Orlando, FL What is the top U.S. Metro Market by occupancy? - Fort Lauderdale, FL What is the top U.S. Metro Market by average daily rate? - Chicago, IL What market is reviewed annually? - Worldwide Markets Why are worldwide markets reviewed annually? - to determine if new markets may be created based on growth in available supply and sample How many scale categories are there? - 7 scale categories How are the scale categories broken up? - 6 for chain hotels ranging from Luxury to Economy, and 1 scale category for all Independent Hotels When a chain is categorized in a specific scale group, what does it mean? - means every hotel in that chain is in that Scale group everywhere in the world, in every country and marketHow are chains positioned in Scale groups? - based on average daily rate (ADR) How many Class categories are there and what category do they not have? - 6 Class categories; No Independent Class group Other than the Scale and Class categories, what non-geographic categories does STR track? - Location; Extended Stay What are 2 foundations of the STAR Program? - aggregating; confidentiality Aggregating - means finding the averages based on the data from a group of hotels so that each individual hotel is protected Confidentiality - rules to ensure no individual property data is ever disclosed to another property What are some stakeholders when it comes to choosing a comp set? - Management Company Chain (corporate staff such as a regional manager) GM sales and marketing team revenue manager What are some brand standards that chains can set when choosing comp sets? - including/excluding specific chains including/excluding different properties of the same chain choosing properties within specific radial distance choosing properties within specific chain scalesParticipation - you want hotels to submit data to STR