Revenue Management Key Terms Exam Questions with 100% Correct Answers

Affiliates - ANSWER-revenues generated by sources other than group rooms and banquets such as exhibitors and associated vendors Bench Rate - ANSWER-the base room rate that a hotel wants to achieve or sell Best Available Rate - ANSWER-a floating transient room rate based on demand and current market conditions, generally used by group hotels Booking Channels - ANSWER-the alternatives available to book room nights in addition to the traditional methods such as 800 numbers, travel agents, and hotel reservation departments Booking Window - ANSWER-the time period that provides the best opportunity to book a particular type of group business. For example, large convention hotels have a typical booking window as far out as 8-12 years, resorts 3-6 years and corporate hotels 3 months- 2 years Budget - ANSWER-the formal business and financial plan for a business for one year