Test questions Revenue Management
13 important questions on Test questions Revenue Management
Q1)Explain the differences between budgeting and forecasting, and provide an example
Buget: long term- does not change-target
Forecast: short term- constantly changes- expected
Q2)Your hotel has a total of 280 rooms, but this Saturday the demand is surpassing by 12 rooms, as the revenue manager you will have to reject these extra 12 rooms. Explain if this is an example of constrain or unconstrained demand
Q3)Name and explain three performance indicators used for forecasting
OCC: It is an indicator that shows the percentage of rooms being sold for.a certain period of time
CXL: It is an indicator that shows the percentage if rooms cancelled for a certain period of time
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Q4)In the case of low demand, which measures can be taken to maximize your hotel revenue (name three examples)
Q5) In the case of high demand, which measures can be taken to maximize your hotel revenue ( name three examples)
Q7)What do IDS and GDS stand for? Provide examples and briefly explain their business model
GDS (Global Distribution System) Amadeus, B2B business model: directly to customers
Q8) Name four factors that can affect the elasticity of the demand
2) Availability of substitutes
3) Time factor
4) Consumers' budget
Q9) Explain the importance to know the characteristics of your market segment in revenue management
Q10) Define the term overbooking, and provide an example
Q11) Explain what STAR report is, and name the KPIs given in the report
Q12) According to ARI index in Appendix 1, can it be said that we are doing better than our competitors
Name 1 other distribution channel Anne could use und explain why
Name one advantage and one disadvantage of IDS
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