Chapter 7 Revenue Management Exam Questions With 100% Accurate Answers

Revenue Manager - ANSWER-the title used identify the individual at a hotel property who is responsible for optimizing Inventory (Rooms) - ANSWER-all of the guest rooms available to be sold by a hotel revenue management - ANSWER-establish room rates, but they also dictate when room rate will change during certain times of the year Negotiated Rate - ANSWER-A special room rate offered for a fixed period of time to a specific hotel client. Used as in "What do you think we should propose to the XYZ Corporation as their negotiated rate for next year?" Blackout Date - ANSWER-Any day on which the hotel will not honor a negotiated rate. Negotiated Rate Agreement - ANSWER-A document that details the specific contractual obligation of a hotel and client when the hotel has offered, and the client has agreed to, a negotiated rate. Types of agreement content includes start date, room rate to be charged, agreement duration, and blackout dates (if any). The agreement should be signed by a representative of the hotel and the client.