HM 480 CHIA FINAL UPDATED
ACTUAL Exam Questions and
CORRECT Answers
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Terms in this set (123)
-Property
What is
-Corporate
Benchmarking?
-Tourism Organizations
Competitive What?, Why?, Who?, When?, Rules
Sets
My hotel vs. the each hotel has to compare
competition themselves to the competition
, -compare performance to comp
set
-compare performance to hotels
in pre-defined industry segments
near their hotel (market/tract)
Benchmarking
-can compare their own properties
in the Hotel
to variety of comparative groups
Industry
of hotels to gauge performance of
their portfolio
-tourism orgs can also compare
their local area to "comparable"
markets
a group of hotels used primarily
for comparison against subject
property for performance
benchmarking purposes
-properties in a comp set are
What is a Comp competitive in nature--> could be
Set? competing for the same guests
-Nittany Lion Inn will not compare
to Roadway Inn because they are
not going to have the same type of
guests
, -compare to subject property for
performance benchmarking
purposed
How are Comp
-aid sales and marketing team
Sets Used?
-use in management contracts for
performance requirements
-internal and external analysis
Why are Comp -the information is valuable
Sets Needed? -started in 1980s
finding the averages based on the
data from a group of hotels so that
each individual hotel is protected
Aggregating from exploitation of their specific
data
-from a STAR report, can only see
how everyone as a whole is doing
-by the time the hotel opens
When are -sometimes long before the hotel
Comp Sets opens/while the hotel is under
Created? construction--> "under
construction" STAR report
, Why would a want to make sure their price point
hotel want to is good or maybe see if the hotel is
put together a even worth building
comp set
before they
open?
-management company
-GM
-Chain Company
Who chooses
-Sales and Marketing Team
the Comp Set?
all might have different goals or
agendas
-including/excluding specific
chains
Choosing the -including/excluding different
comp set/ properties of the same chain
setting chain -choosing properties within
standards specific radial distance
-choosing properties within
specific chain scales
ACTUAL Exam Questions and
CORRECT Answers
Save
Terms in this set (123)
-Property
What is
-Corporate
Benchmarking?
-Tourism Organizations
Competitive What?, Why?, Who?, When?, Rules
Sets
My hotel vs. the each hotel has to compare
competition themselves to the competition
, -compare performance to comp
set
-compare performance to hotels
in pre-defined industry segments
near their hotel (market/tract)
Benchmarking
-can compare their own properties
in the Hotel
to variety of comparative groups
Industry
of hotels to gauge performance of
their portfolio
-tourism orgs can also compare
their local area to "comparable"
markets
a group of hotels used primarily
for comparison against subject
property for performance
benchmarking purposes
-properties in a comp set are
What is a Comp competitive in nature--> could be
Set? competing for the same guests
-Nittany Lion Inn will not compare
to Roadway Inn because they are
not going to have the same type of
guests
, -compare to subject property for
performance benchmarking
purposed
How are Comp
-aid sales and marketing team
Sets Used?
-use in management contracts for
performance requirements
-internal and external analysis
Why are Comp -the information is valuable
Sets Needed? -started in 1980s
finding the averages based on the
data from a group of hotels so that
each individual hotel is protected
Aggregating from exploitation of their specific
data
-from a STAR report, can only see
how everyone as a whole is doing
-by the time the hotel opens
When are -sometimes long before the hotel
Comp Sets opens/while the hotel is under
Created? construction--> "under
construction" STAR report
, Why would a want to make sure their price point
hotel want to is good or maybe see if the hotel is
put together a even worth building
comp set
before they
open?
-management company
-GM
-Chain Company
Who chooses
-Sales and Marketing Team
the Comp Set?
all might have different goals or
agendas
-including/excluding specific
chains
Choosing the -including/excluding different
comp set/ properties of the same chain
setting chain -choosing properties within
standards specific radial distance
-choosing properties within
specific chain scales
