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Revenue Management Test 2 Exam Questions with Latest Update
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Chapter 6 - ANSWER- 
 
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 disc...
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Revenue Terms Exam Questions with Verified Answers
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ADR - ANSWER-Actual room revenue / total rooms sold 
 
ADR index - ANSWER-A measure of one hotel's performance based on a comp set. 
 
Amortization - ANSWER-An accounting term that refers to the process of allocating the cost of an asset 
 
Ancillary revenue - ANSWER-A client's commitment to pay for a certain number of rooms for a group booking. Ex: Wedding is booked for 100 rms and the family agrees to 80% attrition effectively paying for 80 rms if the wedding falls through. 
 
Cancellation C...
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THEM 3270 EXAM 1 QUESTIONS WITH CORRECT ANSWERS
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What is the term to describe the average revenue generated by each available guest room during a specific period of time? - ANSWER-RevPAR 
 
What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER-Total revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER-Costs 
 
What is the name for the net value achieved by both parties in a business transaction? - ANSWER-Profit 
 
What is the f...
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Revenue Management Final Exam and Answers.
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Revenue Management Final Exam and Answers. 
What is the industry term used to describe the sum of prices paid by a business's customers? - 
Answer Total Revenues 
Historically, what concept have hospitality managers chiefly used to calculate their selling 
prices? - Answer Costs 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Answer Profit = 
Sales - Costs 
What is the name for the net value achieved by both parties in a business transaction? - Answer 
 Profit 
What e...
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Revenue Management Final Exam | Latest 2023 with complete solution
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What is the industry term used to describe the sum of prices paid by a business's customers? - ANSWER - Total Revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - ANSWER - Costs 
 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? - ANSWER - Profit = Sales - Costs 
 
What is the name for the net value achieved by both parties in a business transaction? - ANSWER - Profit 
 
What element is not present in a ba...
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Revenue Management Final Exam Practice Questions With Correct Solution Expert Verified 2024
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Revenue Management Final Exam Practice Questions With Correct Solution Expert Verified 2024 
What is bigger in the tourism industry, fixed costs or variable costs? Correct Answer fixed costs are bigger 
-Think of an airplane: staffing, airport fees (fixed) - huge amount of the costs for airplanes come from fixed costs; food, fuel (variable) - not as easy to determine the variable costs 
 
We can reduce prices (even below total cost per room), as long as the 
reduced price covers, fixed cost per ...
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Revenue Management Final exam |Questions with Complete Verified Solutions |A Graded Latest Updated 2024
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Revenue Management Final exam |Questions with Complete Verified Solutions |A Graded Latest Updated 2024 
 
What is the term used to identify a management philosophy that places customer gain ahead of short-term revenue maximization in revenue management decision making? Correct Answer customer-centric revenue management 
 
What is the term used to describe the potential customers to whom a business's marketing activities and messages are directed? Correct Answer the target market 
 
Understand...
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Revenue Management Final Exam| Practice Questions With Verified Solutions 2024
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Revenue Management Final Exam| Practice Questions With Verified Solutions 2024 
 
Revenue Correct Answer The total number of sales achieved in a specific time period. Calculated as: # of units x unit price= Revenue 
 
Accountants Profit Formula Correct Answer Sales= Cost + Profit (Profit= Revenue- Expenses) 
 
Profit Correct Answer The net value achieved by a seller and a buyer in a business transaction 
 
ROI (Return on Investment) Correct Answer ROI= Owners Investment Return / Owners Original ...
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Revenue Management Final Exam| Questions With Verified Answers A Graded Latest Updated 2024
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Revenue Management Final Exam| Questions With Verified Answers A Graded Latest Updated 2024 
 
What is the industry term used to describe the sum of prices paid by a business's customers? 
 
-daily receipts 
 
-profit 
 
-profits less expenses 
 
-total revenues 
 
correct answer -total revenues 
 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? 
 
-income 
 
-revenue 
 
-costs 
 
-profits 
 
correct answer -costs 
 
 
What is an algebrai...
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Revenue Management Final Exam | Updated Question & Answers Graded 100%
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Revenue Management Final Exam | Updated Question & Answers Graded 100% 
 
What is the industry term used to describe the sum of prices paid by a business's customers? Answer Total Revenues 
 
Historically, what concept have hospitality managers chiefly used to calculate their selling prices? Answer Costs 
 
What is an algebraic equivalent of the formula: Sales = Costs + Profit? Answer Profit = Sales - Costs 
 
What is the name for the net value achieved by both parties in a business transactio...
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