BSHM 1C- Fundamentals in Lodging (Semi-final Quiz)

is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource (hotel room reservations)

• no shows

• overbooking

• yield management

• walking

registers located in gift shops, cafes, restaurants, bars, etc. Prints out a receipt.

• Property management system (PMS)

• Point-of-sale (POS)

when a guest does not show up that booked a guaranteed reservation

• walking

• overbooking

• spoilage

• no-shows

the hotel has sold more rooms than it physically has available

• walking

• no-shows

• overbooking

• spoilage

issue with room (maintenance needed) can not be occupied

• available

• dirty

• occupied

• out of order

guest has NOT paid in full for room, room may be given to another paying guest

• guaranteed reservation

• non-guaranteed reservation

consists of name, contact info, room type, dates of occupation

• guest folio

• guaranteed reservation

• PMS

• POS

the purpose of bookkeeping is primarily not to record and summarize financial data.

• TRUE

• FALSE

Also called the hotel's "financials".

• accounts receivable

• accounts payable

• financial statements

• statement of cash flows

money owed to the hotel because of sales made on credit.

• accounts receivable (AR)

• accounts payable (AP)