Hotel Study guides, Class notes & Summaries

FINAL EXAM HOSP 3100 QUESTIONS AND ANSWERS What is hotel Revenue Management? Explain your answer - ANS->>Selling the right product (suite, club etc.) to the right customer (what segment?) at the right time(lead time) for the right price(strategies) through the right channel (GDS, OTA, B etc.) with the best cost efficiency (margin, commission, labour); Optimizing revenue by using tools (reports, systems, recommendations, and competitive intelligence), experience and insight towar...

Which is a parent company consisting of multiple chains? - Choice Hotels Which is a true statement about parent companies? - Parent companies and related chains have changed over time What are the 3 different operation types - Corporate, Franchise, Independent Which is a true statement about independent hotels? - Independent hotels are not affiliated with a specific chain Which is a true statement about management companies? - Management companies have contracts where they receive payment...

Which of the following statements about hotel food and beverage operations is TRUE? a. Hotel marketing efforts focus exclusively on attracting hotel guests to dine at the property's food and beverage outlets. b. Room service is typically the most profitable food service operation in a hotel. c. The restaurant manager in a hotel has greater decision-making powers than a manager of a freestanding restaurant. d. Catering responsibilities in a hotel are generally a function of the marketing and...

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 -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -prof...

WPC 480 Midterm Exam Questions with Correct Answers All of the following were traditional sources of competitive advantage EXCEPT: a. labor costs. b. access to financial resources. c. protected markets. d. a highly educated labor market. - Answer-d Customer loyalty programs such as airline frequent flyer miles are an attempt to: a. decrease competitors' access to distribution channels. b. develop a cost advantage independent of scale. c. increase customers' switching costs. ...

How long are certification cards valid? - Answer- 4 years opening and closing hours of a cabaret premise - Answer- 8am and 4am how long is a noise complaint valid? - Answer- 30 days How many members of the liquor commission are there? - Answer- 9 special licenses granted by the Dept Director are valid for... - Answer- 3 days (typically given to nonprofits, political candidates, and political parties) Appeals of LC decisions must be within __ days of decision - Answer- 30 Distan...

What is bigger in the tourism industry, fixed costs or variable costs? 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 room or variable cost per room? We can reduce prices as long as the reduced price covers the variable ...

If an automobile policy has split limits of 30/60/25. What is the maximum amount of liability coverage that would be paid in a covered loss where three people are involved. $30,000 Which of the following statements best describes an inland marine policy? Pertains to Cargo with no fixed location Alex is traveling through College Station and hits a deer, and the damages are $1500. He has comprehensive coverage with a $500 deductible. What will you pay? $1000 This department...

MLBPA Agent Exam Study Guide with Complete Solutions Agent Regulations - Equipment - $3,000 worth of equipment per year for each player. - Applies to all players regardless of roster status. - Within 48 hours of an agent change, must report to MLBPA total amount of equipment purchased. - Annual disclosure must be submitted to MLBPA no later than 3/1. Agent Regulations - Fee Statements Must be submitted no later than 3/1. Agent Regulations - Loans - Loans prohibited w/o prior writ...

Fire Inspector 1 Study Questions with Complete Solutions What is the minimum acceptable residual pressure in a water supply system that must be available for firefighting? 20 psi What type of sprinkler system is a type of dry system that, when activated, flows water from all heads at the same time because all of the heads are open? deluge What is the starting point used to measure travel distance to an exit? the most remote point subject to occupancy How many sleeping accommodations are requ...