CHIA Exam Study Guide with Latest Solutions

CHIA Exam Study Guide with Latest Solutions demand/supply (rooms sold/rooms available) * 100 (displayed as a percentage) Occupancy formula revenue/demand (displayed as a percentage) Average Daily Rate (ADR) formula revenue/supply (displayed as a currency value). Revenue Per Available Room (RevPAR) formula ((This Year - Last Year) / (Last Year)) * 100 Percentage Change formula (Subject Value (Occupancy)/Comp Set Value) * 100 Index formula (Index current year- Index last year)/Index last year * 100 Index percentage change between 5 and 6 Including your hotel, what is the average number of hotels in a competitive set? -1.59% Between the two years, what is the occupancy percent change for the month of January? 9.98% Between the two years, what is the ADR percent change for the month of March? January 2021's occupancy percentage decreases from January 2020, which could have been caused by the increase in ADR. Given the information in the table, which of the following statements is true? Luxury → Upper Upscale → Upscale → Upper Midscale → Midscale → Economy → Independent The scale hotel categories in order from highest ADR to lowest ADR. Luxury → Upper Upscale → Upscale → Upper Midscale → Midscale → Economy The class hotel categories in order from highest ADR to lowest ADR. competitive set percentage checks Is based on the 50, 50, 70 rule: No single property can account for more than 50% of the total rooms in a competitive set. No single chain can account for more than 50% of the total rooms in a competitive set. No single company can account for more than 70% of the total rooms in a competitive set. rooms revenue ÷ room nights sold According to the STR and the USALI, Average Daily Rate (ADR) is calculated as: rooms revenue ÷ room nights available According to the STR and the USALI, Revenue Per Available Room (RevPAR) is calculated as: room nights sold ÷ room nights available According to the STR and the USALI, Occupancy is calculated as: leisure travelers Which of the following is NOT a segmentation term used by STR? It's a joint effort involving many stakeholders Who creates a competitive set for a hotel? Chain Management, Franchise, Independent What are the three different operation types? Have one set that you can easily beat and another which is a realistic target All of the following are good reasons for a hotel to have an additional competitive set, except which one? Accor Most of the entities below are classified as "Chains". Which one is a "Parent Company" consisting of multiple chains? Participation, Proximity, Pricing and Product The four key considerations when creating a Competitive Set are? Number of hotels and participation Markets and submarkets are created based on what two determining factors? At any time, although many wait until the beginning of the year When can a competitive set be changed? Comp sets can be used to aid the sales and marketing departments in determining the effectiveness of various pricing decisions. Comp sets can be used in management contracts for performance requirements. Comp sets can have an effect o