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revenue per available room - CORRECT ANSWERS the measure of how hospitality is peforming
in the industry
restaurant share of the food dollar - CORRECT ANSWERS 48%
Characteriza%on of hotels - CORRECT ANSWERS full service, limited service, suite hotels, resort,
conven%onal
Service - CORRECT ANSWERS a deriva%ve product and occurs simultaneously with produc%on.
it is intangible
Service considera%ons - CORRECT ANSWERS word of mouth, technology
The communica%on Loop - CORRECT ANSWERS measures service expecta%ons, emphasize info
quality, capture customer's percep%ons, communicate to reach every employee, links service
performance to business results
Types of service - CORRECT ANSWERS electronical/mechanical (internet/email), indirect
personal transac%on (phone), face to face transac%ons
Product View - CORRECT ANSWERS emphasize service as a task, controls employee bahavior
Process View - CORRECT ANSWERS emphasize interac%on with guest
Companies organizing service - CORRECT ANSWERS implemen%ng service strategy, segmen%ng
the market, establishing a service culture
, importance of our employees - CORRECT ANSWERS recruit, select, train, evaluate, employee
rewards
Demographics - CORRECT ANSWERS age, income, educa%on, race, gender
Psychographics - CORRECT ANSWERS personality, values, a3tudes, interests, lifestyle
Hospitality industry adjus%ng - CORRECT ANSWERS crea%ng niche markets for younger
customers (fast casual dining, up-tempo lodging)
baby boomers - CORRECT ANSWERS the oldest segment of the U.S., account for 28% of the
popula%on
Supply - CORRECT ANSWERS supply is important because without supply, the hospitality
industry would cease to exist
Supply-land - CORRECT ANSWERS the availability of prime land spots are decreasing,
considered t be near traffic areas, near des%na%ons
Supply-food - CORRECT ANSWERS operators must consider seasonality, effect of the weather,
overfishing, epidemics
Supply-labor - CORRECT ANSWERS managers must consider overall employment rate,
immigra%on rate, compe%%on for workers, employee turnover, part %me vs. full %me
Private club - CORRECT ANSWERS break-even opera%ons. a place where people with a
common bond can congregate for a social and/or recrea%onal purpose