CHIA Exam Study Guide latest update

CHIA Exam Study Guide latest update Major Geographic Categories - Answer ️️ --World -Continent -Sub-Continent -Country -Market -Tract or Submarket Continents - Answer ️️ --4 -Americas, Europe, Mideast/Africa and Asia Pacific Sub-Continents - Answer ️️ --4 for each continent When it comes to recognizing countries... - Answer ️️ -STR uses the UNWTO definition ______ countries with one or more hotels - Answer ️️ -211 ______ countries with 50,000 rooms or more - Answer ️️ -42 Territories such as the U.S. Virgin Islands and Puerto Rico would appear as... - Answer ️️ - separate countries ______ countries with no properties in the STR census database. - Answer ️️ --9 -may be due to the lake of reliable public information -Central African Republic, Falkland Islands, Kiribati, Kosovo, Liberia, Nauru, North Korea, South Sudan, and Tuvalu There are about ______ hotels in the U.S. - Answer ️️ --51,568 ______ regions in the U.S. - Answer ️️ --9 Market - Answer ️️ --one of the most important geographic categories below Country, especially for a hotel GM -created based upon the number of hotels in an area and the participation -commonly thought of as cities, although they are also used to represent more rural areas outside of the major cities -In some countries, there may be a large number of markets. In other countries, especially developing areas, there may be just a small number of markets -sometimes markets cross state borders ____ markets in the U.S. - Answer ️️ --163 -93 metro markets (cities) -70 non-metro markets (rural areas) Top 25 US Markets - Answer ️️ --based on Revenue and Number of Rooms -exclude Las Vegas due to participation issues - In World Wide markets... - Answer ️️ --no market will ever cross country boundaries Tract - Answer ️️ --geographic subset of a Market -the term "Tract" is used in North America, but the term "Submarket" is used outside of North America -affected by hotel participation -anywhere from 2 to 10 or more tracts in a market ______ tracts in the U.S. - Answer ️️ --630 World Wide Sub-Market - Answer ️️ --outside of North America, the term "Submarket" is used instead of Tract -# of Submarkets depend upon the size of the Market Changes to markets and tracts are based upon... - Answer ️️ --Supply (new hotels opening) -Participation (new hotels submitting performance data) -Client feedback -made at the end of the year Additional Geographic Categories - Answer ️️ --U.S. Counties (or WW comparables i.e.: Districts) -Zip Codes (or WW Postal Codes) -MSAs (U.S. Metropolitan Statistical Areas) -Latitudes and Longitudes Scale - Answer ️️ --one of the most popular ways the industry looks at different hotels -7 scale categories (includes independent) How do Chains get grouped into Scales? - Answer ️️ --Chains are positioned in Scale groups based upon A