Chapter 7 - Revenue Management Exam Questions With 100% Complete Answers

Revenue Manager - ANSWER-the title used to identify the individual at a hotel property who is responsible for optimizing rooms, revenue through effective guest room pricing and inventory management Inventory - ANSWER-all of the guest rooms available to be sold by a hotel Revenue Management - ANSWER-strategic distribution and pricing tactics you use to sell your property's perishable inventory to the right guests at the right time, to boost revenue growth Negotiated Rate Agreement - ANSWER-a document that details the specific contractual obligations of a hotel and client when the hotel has offered, and the client has agreed to, a negotiated rate. typical 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.