Hotel Room Pricing Quiz

Hotel Room Pricing Quiz

University

13 Qs

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Hotel Room Pricing Quiz

Hotel Room Pricing Quiz

Assessment

Quiz

Specialty

University

Hard

Created by

Jen Richrdson

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13 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three popular approaches to pricing rooms?

The Market Condition Approach, The Rule-of-thumb approach, The Hubbard Formula

The Market Condition Approach, The Rule-of-thumb approach, The Eugene Formula

The Market Condition Approach, The Rule-of-thumb approach, The Eugene Formula

The Market Condition Approach, The Rule-of-thumb approach, The Win Formula

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Rule-of-Thumb approach set the rate of a room at?

$120 for each $1,000 of construction and furnishings cost per room

$80 for each $1,000 of construction and furnishings cost per room

$100 for each $1,000 of construction and furnishings cost per room

$50 for each $1,000 of construction and furnishings cost per room

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Hubbard Formula approach consider?

Imagine Lily and Rohan are planning to open a hotel. What factors does the Hubbard Formula take into account?

Desired profits only

Operating costs, desired profits, and expected number of rooms sold

Expected number of rooms sold only

Only operating costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Abigail, Olivia, and Aria are planning a fun hotel staycation! How can they calculate the Occupancy Percentage?

Number of Single Rooms Occupied / Total Number of Single Rooms Available For Sale * 100

Number of Rooms Occupied / Total Number of Rooms Available For Sale * 100

Number of Double Rooms Occupied / Total Number of Double Rooms Available for Sale * 100

Number of Rooms Occupied by More Than One Guest / Total Number of Rooms Occupied * 100

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does RevPAR stand for?

Revenue Per Occupied Room

Revenue Per Room

Revenue Per Average Room

Revenue Per Available Room

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Average Rate per Guest (ARG) formula?

Total Room Revenue / Number of Guests

Total Room Revenue / Total Number of Rooms Sold

Actual Room Revenue / Number of Guests

Actual Room Revenue / Total Number of Rooms Sold

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Average Daily Rate formula?

Total Room Revenue / Number of Guests

Actual Room Revenue / Number of Guests

Total Room Revenue / Total Number of Rooms Sold

Actual Room Revenue / Total Number of Rooms Sold

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