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Hotel Business

Instructions:
  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Big name hotels often bought for prestige rather than for profit. Example: Waldorf-Astoria in NYC






2. Change prices- demand changes - as price drop - demand rises - as prices rise - demand falls. True for MOST products and services. Few people think it's worth it even if they can afford it; Leisure traveler.






3. Special - highly prized single entities.






4. Individual - group - REIT etc..






5. The major reason by far that franchisees sign up.






6. Supervises reservations - telephone - concierge and uniformed services. Reports to Hotel Manager.






7. Size - Class - Type - Plan






8. Freebies given to guests to 'reward' stays






9. Age of Service; Medicine - Banking - education and hotel-keeping






10. The point at which there are neither profits nor losses.






11. Sub-department of Food and Beverage. It supervises restaurant - banquet and bar managers






12. The buyer (franchisee) acquires rights from the seller (franchisor) to the exclusive use of a name product - and system of a franchisor within a defined geographic area - for a fee.






13. Provides systems and brand recognition






14. Handles requests for rooms from prospective guest arriving in the future.






15. An agreement between a hotel building owner and a leasing company by which the leaseholder operates the hotel






16. Extend Season - Seek New Markets - Location and Mixed Use Development






17. Change prices- demand is static - True only for a LIMITED range of products - business traveler.






18. 1. Developer 2. Financier 3. Equity/Ownership 4. Management Company 5. Franchising Company






19. An agreement between a hotel owner and a management company by which management company operates the hotel within the conditions set down by the contract - for a fee






20. A group assembled to promote a common purpose






21. Small independent roadside motels family owned and operated. These are declining in numbers.






22. Refers to any room in which there is more than one person; increases RevPar because of additional charge






23. Perishability - Location - Fixed Supply - High Operating Cost - Seasonality






24. Depends on hotel design. Often arbitrary.






25. ADR= room sale÷ number of rooms sold






26. 7:30 AM-3:30 PM






27. 300 rooms or more






28. Room Only






29. The proliferation of many hotel types as the lodging industry attempts to target its facilities to smaller and smaller market niches (segments).






30. Room+ all three meals






31. Investment vehicle for real estate deals including hotels - many tax advantages. Restrictions prevent them from operating hotels - so they set up related companies to run the hotels.






32. Closely follows the nation's economic phases: Hotels follow a roller coaster economy - Build during good times - overbuild into the downturn and world oil supply impacts travel and occupancy






33. A cooperative structure - where members pay fees and get services that a chain would provide. ex. Best Western. A way for independent operator to get the advantages of a chain without sacrificing their independence or individuality.






34. 11:30 PM- 7:30 AM






35. A name and logo recognized by customers. A unique package of products - services - amenities and ambience at a price point that is associated with that brand.






36. Deals with the production and service of food and beverages. Service and production are two sub-departments






37. Sub-department of Food and Beverage. It is headed by a 'chef'.






38. Deals with safety - fire control and prevention - loss-control - accidents - death - suicides - crimes - scams - drunk - prostitutes and drugs.






39. The relationship between demand (the number of rooms actually sold) and supply (the number of rooms available for sale). Measures quantity.






40. Was: extensively staffed- many operators and supervisors Now: Minimally staffed or handled by F.O. itself; was also very costly






41. Goal is to maximize coverage with minimal costs.






42. Items paid for but not utilized - like meals






43. Process of dividing a large heterogeneous market into two or more smaller homogenous market segments. Homogenous= Consumers with similar needs






44. Increasing in popularity because: Large capital needs - Economies of scale - Ability to attract management talent - Ability to invest in and leverage technology






45. 3:30 PM- 11:30 PM






46. Runs the day to day operations for a fee






47. Larger - more luxurious - more amenities - outside view - have themed suites and all-suites - less variation






48. 150 to 300 rooms






49. Hotel Manger/ Resident Manager/ House Manager/ Rooms Division Manger/ Guest Services Manager






50. Percentage of double occupancy=(number of guests - number of rooms occupied) ÷ number of rooms occupied







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