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...

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...

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...

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. ...

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...

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 ...

100% SOLUTIONS FOR DTM3704... QUESTIONS ASKED The city of Barcelona welcomes an exceptionally large number of tourists every year. According to the good principles of tourism practice, this is unacceptable because every destination must set a limit to the amount of tourists it receives. What kind of negative impact does this refer to? During the development of the city of Barcelona, a large number of tourism components were used and a considerable amount of money was spent by the Spanish ...

1. 1. The insured carries a BOP policy with protective systems such as a sprinkler system. If the system becomes inoperative, the insured must advise the insurance company of the problem within if the system cannot be restored to working order: 48 hours Your Answer 2. 2. Tina has two policies (Policy X and Policy Y) that cover the same risk on a pro rata basis. Policy X has a limit of $100,000 and Policy Y has a limit of $25,000. When Tina suffers a loss totaling $75,000, how will the two pol...

FOR3701 Assignment 1 (COMPLETE ANSWERS) Semester 1 2024 - DUE 20 March 2024 ; 100% TRUSTED workings, explanations and solutions. for assistance Whats-App 0.6.7..1.7.1..1.7.3.9 ......................................... Question 1 According to the information on the module site, who is the primary lecturer of this module and what are their contact details? (1) CASE STUDY Tributes pour in for second victim in AKA fatal shooting, book author & celeb chef Tebello 'Tibz' Motsoane Rapper Kiernan ...

NR 511 WEEK 3 QUIZ Differential Diagnosis and Primary Care Practicum NR 511 WEEK 3 QUIZ Differential Diagnosis and Primary Care Practicum Already Graded 15 out of 15 Points Question 1 1 / 1 pts A 4-year-old male presents to your pediatric clinic with his mother complaining of an itchy rash, mostly between his fingers. This has been going on for multiple days and has been getting worse. The patient recently started at a new day care. On physical exam, the patient is afebrile and has m...