CHIA Practice Problems-Exam 2024 Q & A

CHIA Practice Problems-Exam 2024 Q & A Most of the entities below are classified as "Parent Companies". Which one is a "Chain" that is a member of a larger Parent Company? - Accor - Holiday Inn - Choice - Starwood - Answer️️ - Holiday Inn Which one of the following statements about management companies is accurate? - Parent companies will always use a management company to manage their corporate owned hotels - A management company can only manage hotels for a single chain - A management company and an asset management company provide the same services - A management company has a contract where it receives payment and/or some portion of profits - Answer️️ - A management company has a contract where it receives payment and/or some portion of profits Which one of the following statements regarding the Scale and Class categories is accurate? - STAR Reports compare the subject hotel to the competitive set, not to Scale or Class groups - The Class category is used to combine independent hotels with chain hotels at similar ADR levels - There are 6 Scale groups and 7 Class groups - The Class category is most popular in the US and the Scale category is most popular outside the US - Answer️️ - The Class category is used to combine independent hotels with chain hotels at similar ADR levels Which one of the following statements regarding Scale and Class groups and a single chain is accurate? - It is possible for the Holiday Inn chain to switch from one Scale group to another in the middle of the year if their average ADR changes dramatically - A Holiday Inn hotel in the US can be in one Scale group and a Holiday Inn hotel in Germany can be in a different Scale group - A Holiday Inn hotel in the US can be in on Class group and a Holiday Inn in Germany in a different Class group - A Holiday In hotel will always be in the same Scale and Class groups in every country throughout the world - Answer️️ - A Holiday Inn hotel will always be in the same Scale and Class groups in every country throughout the world Which one of the following is a non-geographic category used by the hotel industry? - Extended Stay - Location - Scale - All of the above categories are used - Answer️️ - All of the above categories are used Which one of the following is NOT a good reason for a hotel to have an additional competitive set? - The hotel has one set that it can easily beat and another that is a realistic target - A hotel is located between two cities so they have one competitive set related to one city and another related to the second city - The hotel has a local competitive set based upon geography and another based upon a special feature or niche, i.e. waterpark, boutique, or conference - The hotel has different sets for weekday/weekend or a group/transient mix - Answer️️ - The hotel has one set that it can easily beat and another that is a realistic target Which one of the following represents an accurate statement regarding competitive sets? - A subject hotel can select a competitor outside of its' geographic area and Scale group - A subject hotel can see the individual property data of any of its competitors - There are no rules when it comes to creating and changing competitive sets that are in place to protect the confidentiality of the competitors - Subject hotels can only change their competitive set at the beginning of the year - Answer️️ - A subject hotel can select a competitor outside of its' geographic area and Scale group Compare Raw Data versus Key Performance Indicators (KPI). Which one of the following is NOT an accurate statemen