Management > EXAM > REVENUE MANAGEMENT FINAL EXAM 2024 STUDY QUESTIONS WITH ANSWERS GUARANTEED PASS | RATED A+ (All)

REVENUE MANAGEMENT FINAL EXAM 2024 STUDY QUESTIONS WITH ANSWERS GUARANTEED PASS | RATED A+

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REVENUE MANAGEMENT FINAL EXAM 2024 STUDY QUESTIONS WITH ANSWERS GUARANTEED PASS | RATED A+ What is the main reason that travelers today have more clout than ever before? - Answer>>> They have infor... mation on virtually everything at their fingertips. Revenue Management is NOT necessarily about... - Answer>>> Achieving 100 % occupancy and a perfect science The Hurdle Rate is...? - Answer>>> The Lowest Rate for a Given Day A benefit of variable pricing within revenue management is the smoothing of demand. T/F - Answer>>> True Revenue management is a set of revenue maximization strategies and tactics that... - Answer>>> can be used to improve the profitability of certain businesses. In January, the 200-room SnowBound Inn ran a skiers special that resulted in them selling 5,735 rooms during the month. What was the occupancy percentage for the month? - Answer>>> Occupancy % = Room nights sold in a period / Room nights available in that period Answer: 5,735 / (200x31) = 5,735 / 6,200 = 92.5% When the American Airlines CEO developed yield management, what type of information was crucial to its success? - Answer>>> forecasting The goal of revenue management is to MAXIMIZE REVENUE per Available Time-Based Inventory Unit (or RevPATI). RevPATI formula applied to all industries translates into...? - Answer>>> Capacity Utilization x Average Revenue per Service Transaction Which of the following is NOT a criterion needed for an industry to unlock the full potential of revenue management? - Answer>>> low fixed costs and high variable costs To interpret measures of a hotel's performance, managers often compare those measures with: - Answer>>> industry or sector averages, the budget for the period, and historical figures from comparable earlier periods at the hotel. Which of the following statements about hotel revenue management is FALSE? - Answer>>> Revenue management is new, as are all of the strategies that are employed to maximize profit. [Show More]

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