HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
What is the name of the US legislation that prohibits illegal discrimination in
pricing? - ANSWER-clayton act
Which US law would be violated if a hotel charged different room rates based
upon a room buyer's race, religion or ethnic background? - ANSWER-civil rights
act
What is the name for the price perceived by consumers to be the normal or
standard price for a product or a service? - ANSWER-reference price
What is true about the way buyers generally view variance in a seller's prices? -
ANSWER-Discounts are viewed more
END OF
PAGE 1
, HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
favorably then surcharges
In the revenue management field, what do the letters "STR" refer to? - ANSWER-
A company that specializes in helping hospitality managers evaluate their
effectiveness
What is the name of the hospitality management position responsible for the
housekeeping and front office areas of a hotel? - ANSWER-rooms manager
What is the name of the hospitality management position responsible for the
accounting functions in a hotel? - ANSWER-a controller
To whom would a Revenue Manager likely report if consistency across multiple
properties was of most importance? - ANSWER-a corporate level executive
END OF
PAGE 2
, HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
According to the most recent Hospitality Sales & Marketing Association
International (HSMAI) survey, to whom do the largest percentage of hotel revenue
managers report? - ANSWER-their hotel's general manager
Which group of employees is most responsible for
implementing the revenue optimization strategies and tactics developed by a
revenue management team? - ANSWER-line- level employees
What vehicle do effective revenue managers use to best
develop and evaluate their organizations' pricing and revenue management
strategies and tactics? - ANSWER-regular
strategy meetings
Who should lead the revenue management efforts of a
lodging or foodservice organization? - ANSWER-a qualified revenue manager
END OF
PAGE 3
, HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
Donna is a hotel revenue manager preparing next year's rooms forecast. Donna
knows that in November of next year a new hotel is opening near her own. As a
result, she is considering reducing her rooms forecast for that month. If she does
so, what data type will she be primarily using to
make her decision? - ANSWER-future data
Donna is a hotel revenue manager. Donna knows that for tonight she has sold 175
of her 200 available rooms. As a result, is eliminating room discounts on her
remaining 25 rooms. In doing so, what data type is she primarily using to make her
decision? - ANSWER-current data
In a limited service hotel, what is the incremental expense incurred in selling one
guest room? - ANSWER-CPOR
What is the lodging industry term for the situation that occurs when a hotel is
unable to accommodate a guest's
END OF
PAGE 4
MANAGEMENT FINAL
EXAM REVIEW
ANSWER ALL QUESTIONS IN THIS SECTION
QUESTION 1
What is the name of the US legislation that prohibits illegal discrimination in
pricing? - ANSWER-clayton act
Which US law would be violated if a hotel charged different room rates based
upon a room buyer's race, religion or ethnic background? - ANSWER-civil rights
act
What is the name for the price perceived by consumers to be the normal or
standard price for a product or a service? - ANSWER-reference price
What is true about the way buyers generally view variance in a seller's prices? -
ANSWER-Discounts are viewed more
END OF
PAGE 1
, HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
favorably then surcharges
In the revenue management field, what do the letters "STR" refer to? - ANSWER-
A company that specializes in helping hospitality managers evaluate their
effectiveness
What is the name of the hospitality management position responsible for the
housekeeping and front office areas of a hotel? - ANSWER-rooms manager
What is the name of the hospitality management position responsible for the
accounting functions in a hotel? - ANSWER-a controller
To whom would a Revenue Manager likely report if consistency across multiple
properties was of most importance? - ANSWER-a corporate level executive
END OF
PAGE 2
, HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
According to the most recent Hospitality Sales & Marketing Association
International (HSMAI) survey, to whom do the largest percentage of hotel revenue
managers report? - ANSWER-their hotel's general manager
Which group of employees is most responsible for
implementing the revenue optimization strategies and tactics developed by a
revenue management team? - ANSWER-line- level employees
What vehicle do effective revenue managers use to best
develop and evaluate their organizations' pricing and revenue management
strategies and tactics? - ANSWER-regular
strategy meetings
Who should lead the revenue management efforts of a
lodging or foodservice organization? - ANSWER-a qualified revenue manager
END OF
PAGE 3
, HOSPITALITY REVENUE LATEST
MANAGEMENT FINAL
EXAM REVIEW
Donna is a hotel revenue manager preparing next year's rooms forecast. Donna
knows that in November of next year a new hotel is opening near her own. As a
result, she is considering reducing her rooms forecast for that month. If she does
so, what data type will she be primarily using to
make her decision? - ANSWER-future data
Donna is a hotel revenue manager. Donna knows that for tonight she has sold 175
of her 200 available rooms. As a result, is eliminating room discounts on her
remaining 25 rooms. In doing so, what data type is she primarily using to make her
decision? - ANSWER-current data
In a limited service hotel, what is the incremental expense incurred in selling one
guest room? - ANSWER-CPOR
What is the lodging industry term for the situation that occurs when a hotel is
unable to accommodate a guest's
END OF
PAGE 4
