FINAL BATTLE!

We must use a mix of _________ and ________ pricing methods.

(a)  

How does the sales revenue mix impact menu pricing and profitability?

• It determines the variety of items offered on the menu.

• It influences the average check and net income.

• It affects the market value of menu items.

• It determines the pricing strategy for competitors.

Plowhorses have ___ contribution margin and ___ popularity.

• low contribution margin, low popularity

• high contribution margin, low popularity

• low contribution margin, high popularity

• high contribution margin, high popularity

Which market segment is more price sensitive?

• Business transient market segment

• Leisure transient market segment

• Group market segment

• Contract market segment

What does Yield Management reports help to determine?

• Whether the best selling strategy was used to maximise the total room revenue

• Whether the right distribution channel and market segment was chosen.

• Whether booking pace of this year’s reservations is ahead/behind the historical average pace for a particular DOA.

• Whether the pace of current year's reservation is behind the historical pace

Which of the following is a business condition for revenue management?

• Unpredictability in business

• Imperishable products/services

• Low demand from customers

• Fixed amount of resources

Another method of menu analysis is known as?

• Menu reviewing

• Menu computering

• Menu objective

• Menu engineering

In the hotel industry, which rate is typically charged when a hotel room is occupied by a single guest?

• Solo Rate

• Single Rate

• Standard Rate

• Double Rate

Large Change in demand resulting from a (a)   in prices is referred to as elastic demand.

In a restaurant with 80 seats open for dinner and late-night service 7 days a week (365 days per year), the records indicate that 40% of the total revenue comes from dinner. For late-night service, seat turnover is 1.2 times. To calculate the average check per meal period, we will utilize the estimated total sales revenue of $650,720. We will then adjust the equation to determine the average check per meal period instead of the overall average check. What is the verified average check per meal period for late night service?

• 390345.6

• 399453.7

• 350322

• 388944