REVENUE MANAGEMENT FINAL EXAM CH.
1 QUESTIONS AND VERIFIED ANSWERS
Historically, what concept have hospitality managers
chiefly used to calculate their selling prices? - correct
answer- Costs
Sandy has 100 hotel rooms to sell. This Saturday night has
enough customers to sell 125 rooms so she will be
refusing 25 requests for rooms. What is this an example
of? - correct answer- Constrained Supply
Tashia's hotel sold 175 rooms last night at an ADR of
$200.00. Her hotel has 250 rooms. What was Tashia's
occupancy % last night? - correct answer- 70%
Tashia's hotel sold 175 rooms last night at an ADR of
$200.00. Her hotel has 250 rooms. What was Tashia's
RevPAR last night? - correct answer- $140.00
What element is not present in a barter economy? -
correct answer- Money
, What is an algebraic equivalent of the formula: sales=
Costs+Profit - correct answer- Profit=Sales-
costs
What is Rack Rate? - correct answer- The price
of rooms when no discounts of any type are offered
What is the formula used to calculate an owner's ROI? -
correct answer- Owners Investment Return/
Owners Original Investment= Owner's Return on
Investment
What is the formula used to calculate Average Daily Rate?
- correct answer- Total Revenue/ Total Rooms
Sold= Average Daily Rate
What is the formula used to calculate GOPPAR? -
correct answer- (total Revenue-Management
Controllable Expenses)/ Rooms Available to Sell = GOPPAR
1 QUESTIONS AND VERIFIED ANSWERS
Historically, what concept have hospitality managers
chiefly used to calculate their selling prices? - correct
answer- Costs
Sandy has 100 hotel rooms to sell. This Saturday night has
enough customers to sell 125 rooms so she will be
refusing 25 requests for rooms. What is this an example
of? - correct answer- Constrained Supply
Tashia's hotel sold 175 rooms last night at an ADR of
$200.00. Her hotel has 250 rooms. What was Tashia's
occupancy % last night? - correct answer- 70%
Tashia's hotel sold 175 rooms last night at an ADR of
$200.00. Her hotel has 250 rooms. What was Tashia's
RevPAR last night? - correct answer- $140.00
What element is not present in a barter economy? -
correct answer- Money
, What is an algebraic equivalent of the formula: sales=
Costs+Profit - correct answer- Profit=Sales-
costs
What is Rack Rate? - correct answer- The price
of rooms when no discounts of any type are offered
What is the formula used to calculate an owner's ROI? -
correct answer- Owners Investment Return/
Owners Original Investment= Owner's Return on
Investment
What is the formula used to calculate Average Daily Rate?
- correct answer- Total Revenue/ Total Rooms
Sold= Average Daily Rate
What is the formula used to calculate GOPPAR? -
correct answer- (total Revenue-Management
Controllable Expenses)/ Rooms Available to Sell = GOPPAR
