Hospitality Revenue Management Top Predicted Questions and Answers 2024

Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? - Accor Hotels Which is a true statement about Parent Companies? - Parent Companies and the related chains have changed over time What are the three different operation types? - Chain Management, Franchise, Independent Which is a true statement about Management Companies? - Management companies have contracts where they receive payment for their services and/or some portion of profits Which is a true statement regarding geographic categorization? - STR uses the UNWTO definitions when it comes to recognizing countries Which two geographic categories are the most important for a hotel GM? - Market and Submarket Markets and Submarkets are created based on what two determining factors? - Number of hotels and participation Which is a true statement regarding Submarkets - A submarket may represent a small city in a rural market How many Scale categories are there compared to Class categories? - 7 Scale categories and 6 Class categories Which one of the following is an accurate statement regarding Scale and Class groups and a single chain? - A Ritz Carlton hotel will always be in the same Scale and Class groups in every country throughout the world The four key considerations when creating a Competitive Set are? - Participation, Proximity, Pricing and Product The definitions for Supply, Demand and Revenue used by STR and others in the lodging industry are taken from what source? - Uniform System of Accounts for the Lodging Industry Which is true regarding the type of performance data (Supply, Demand, Revenue) that STR receives? - Daily and monthly only You receive your monthly STAR and find that it includes weekday and weekend performance, what days are included in "weekday" in most parts of the world? - Sunday thru Thursday In which of the following situations will occupancy increase? - Supply decreases 10% and demand decreases 5% Which statement is true regarding RevPAR? - It can be thought of as a combination of Occupancy and ADR Use the spreadsheet below to answer Question 17. The March YTD Occupancy (E5) is _______. - 63.2% Use the spreadsheet below to answer Question 18. The Average Daily Rate percent change for April (G5) is ______. - 1.5% Which one of the following statements is accurate regarding "Sufficiency" as it related to competitive set data? - The sufficiency rules are in place to protect the confidentiality of the data