HTMP 1 - Chapter 12 Operational Finance

What is the term which represents the highest possible rate a guest may be charged for a room?

• Room rate

• Highest room rate

• Rack rate

• Highest rack rate

The financial goal of any hotel is to:

a. Make a profit

b. Create guest loyalty

c. Have great customer service

d. Have great customer ratings

• A

• B

• C

• D

___________ is the nightly process that checks, corrects, and balances all accounts for registered hotel guests.

a. Nightly audit

b. Folio checks

c. Folio audits

d. Nightly folio audits

• A

• B

• C

• D

___________ generates income for the hotel through the sale of services or products to guests.

a. Cost center

b. Marketing

c. Accounting

d. Revenue center

• A

• B

• C

• D

The food and beverage department of a hotel is a:

a. Cost center

b. Marketing center

c. Sales center

d. Revenue center

• A

• B

• C

• D

6. The main purpose of the night audit is to:

a. Close folio accounts

b. Finalize guest payment

c. Process guest payment

d. Verify the accuracy of folios

• A

• B

• C

• D

The night audit focuses on all of the following, EXCEPT:

a. Verifying all posted entries to guest and non-guest accounts

b. Balancing all front office accounts

c. Resolving room status discrepancies

d. Processing guest payment

• A

• B

• C

• D

Night auditors are expected to:

a. Calculate room revenue

b. Calculate menu pricing

c. Calculate maintenance costs

d. All of the above

• A

• B

• C

• D

What is the first step in conducting a night audit?

a. Balance each guest folio

b. Update guest folios

c. Update guest ledger

d. Total the guest ledger

• A

• B

• C

• D

Posting the total in the Accounts Receivable Total column is part of which step of a nightly audit.

a. Balance each guest folio

b. Update guest folios

c. Update guest ledger

d. Calculate the account receivable total

• A

• B

• C

• D