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HTM 181 exam 1

by: Alicia Yan

HTM 181 exam 1 HTM181

Alicia Yan
GPA 3.6
Hospitality Management
Dr. Li Miao

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Exam 1 review
Hospitality Management
Dr. Li Miao
Study Guide
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This 4 page Study Guide was uploaded by Alicia Yan on Friday February 27, 2015. The Study Guide belongs to HTM181 at Purdue University taught by Dr. Li Miao in Spring2014. Since its upload, it has received 210 views. For similar materials see Hospitality Management in Hospitality at Purdue University.

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Date Created: 02/27/15
HTM 181 Exam 1 Study Guide The format of the exam is multiplechoices Chapter 1 The traditional hotel industry 0 What are the three important hotel performance indicators OccupancyADR average daily rateRevPar average rate per available room 0 What is occupancy What does it measure quantity or quality How to calculate it A measure of supply and demand gauges the economy health Quantity 0 What is the meaning of double occupancy Calculation is not required Refer to any room in which there is more than one person 0 What is ADR What does it measure quantity or quality How to calculate it Do you use the total number of room available or the total number of room sold to calculate ADR A measure of the average rate paid for rooms sold Quality Total number of room sold 0 What is RevPar How to calculate it What is the difference between ADR and RevPar RevPar is average rate of per available room RevPar is affected by the amount of unoccupied available while ADR shows only the average rate of the rooms actually sold 0 If you know ADR and Dec how do you calculate RevPar RevPar ADR X Dec 0 How do you calculate and interpret STR s ADR Dec and RevPar indices 0 What s the meaning of perishability of hotel rooms Unsold hotel rooms can t be stored can t be saved and can t be used anew 0 Is the supply of the rooms fixed or variable Supply is xed 0 Is the demand of the rooms fixed or variable Demand is variable 0 Is hotel business capital intensive Hotel is capital intensive Is hotel business labor intensive Hotel is labor intensive Are the fixed costs of hotel business high or low High xed costs Are the variable costs of hotel business high or low Low variable costs What is seasonality Does hotel business uctuate within year Within month Within week Cyclical dips hit commercial hotels every seven days as they struggle to offset poor weekend occupancy Within Year Business uctuates from winter to spring to summer to fall in most hotels Within Month Business uctuates from early to mid to late part of the month Within Week CorporateDowntown hotels busy on weekdays empty on weekends Leisure hotels busy on weekends empty on weekdays If a definition of a particular STR hotel type is given are you able to name that hotel type Details on PPT chapter one 15 16 17 What are some existing hotel rating systems in the US American Automobile Association AAA Rating Mobil Rating Membership in Preferred Hotels or Leading Hotels Consumergenerated ratings What are the different types of meal plans Continental breakfast coffee chocolate roll cheese American plan room and all 3 meals Modified American Plan room and some meals Chapter 2 The modern hotel industry What s the meaning of market segmentation Process of dividing a large heterogeneous market into two or more smaller groups What are the five STR market price segments Luxury top 15 ADR Upper upscale next 15 ADR Upscale middle 30 ADR Upper Midscale middle 30 ADR Midscale next 20 ADR Economy lowest 20 ADR What are the three STR customer segments Can you give some examples of each customer segment Transients individual travelers business family travelers lt10 rooms Group wedding conferences sport event trade show gt10 rooms Contract longterm contract airline crews permanent guest Between business travelers and leisure travelers Who are more pricesensitive Leisure travelers are more pricesensitive What is a REIT company A public company that raises capital through the sale of stock What is a joint venture Legal entities hotel corporations or government invest hotel together Financial marriages What is management contract An agreement between a hotel owner and a management company by which the management company operates the hotel within the conditions set down by the contract for a fee What is franchising The buyer Franchisee acquires rights from the seller Franchisor to the exclusive use of a name products and system of a franchisor within a de ned geographic area for a fee Which hotel brand is a perfect example of a membership company Best Western International 4000 properties in 100 countries Who are the typical parties to a deal Given a scenario are you able to identify each party Developer Sees the opportunity and puts together the deal Financier From whom the money comes a bank Ownership Individual group REIT etc Management company Runs the day to day operations for a fee Franchising company Provides systems and brand recognition HiltonMarriott 0 What are some major players in the hotel industry Are you able to name some common brands under each major hotel company IHG a Holiday Inn Candlewood Suites InterContinental Staybridge Suites Hualuxe Hotel Marriott International 0 Gaylord Hotels Renaissance Hotels RitzCarlton Courtyard Fairfield Residence Inn MOXY Hotels Hilton Hotels Corp 0 Conrad Hotel Waldorf Astoria Hotels Double Tree Embassy Suite Hampton Inn Starwood o Westin Sheraton Four Point W Hotel Aloft The luxury collection Global Hyatt Corp a Park Hyatt Hyatt Regency Grand Hyatt Hyatt Place Hyatt House Accor a Hotel F1 Motel 6 Red Roof Inn IBIS budget Novotel Adaglo Choice Hotels International 0 Ascend Collection Cambria Suites Comfort Inn Clarion Hotels Quality Inn Rodeway Inn Wyndham Hotel Group 0 Super 8 Days Inn Travelodge Baymont Inn Wyndham Garden Hotel Wyndham Grand Collection Another set of questions will be based on issues discussed in lectures guest lectures and homework Make sure that you review your notes and homework


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