CHIA Exam Study Guide with Complete Solutions

CHIA Exam Study Guide with Complete Solutions KPIs - Answer ️️ -Key Performance Indicators 1) Occupancy Percentage 2) ADR (Average Daily Rate) 3) RevPAR (Revenue Per Available Room) Census vs Hotel Database - Answer ️️ -Census Database contains all of the hotels in the world, but the Hotel Database contains all of the reporting hotels in the world Geographic Categories - Answer ️️ -Continent Sub-Continent Country Region State Market (Metromarkets and non-metromarkets for everywhere else) Tract/Sub-Market (Outside the US) Non-Geographic Categories - Answer ️️ -Extended Stay Location (Airport, Beach/Resort, Downtown) Destination Resort Boutique Additional Hotel types (All Inclusive,Convention) Industry Performance Metrics - Answer ️️ -Supply-total rooms available Demand-Total Rooms Occupied Room Revenue- Money generated from rooms sold ADR - Answer ️️ -Total Room Revenue/Rooms Occupied Occupancy Percentage - Answer ️️ -Demand/Supply or Rooms Sold/Rooms Available RevPar - Answer ️️ -Total Room Revenue/Total Rooms Available Percent Change - Answer ️️ -( (This year-Last Year)/(Last Year) ) x 100 Key Considerations of Competitive Set - Answer ️️ -1) Pricing 2) Proximity 3) Product 4) Participation Competitive Set - Answer ️️ -1) 3 or more Hotels in addition to the subject hotel (4 Minimum in US) 2) No Single Property can account for more than 50% of Room Supply 3) No Single Parent Company can account for more than 70% of Room Supply **When Changing a Competitive Set, must have a net of 2 or more properties Week - Answer ️️ -Sunday-Saturday Weekday - Answer ️️ -Sunday-Thursday Weekend - Answer ️️ -Friday and Saturday Daily Data - Answer ️️ -Daily Dates are