Revenue Management Glossary

During a revenue management class, Kelly and Logan are discussing hotel performance reports. Kelly asks Logan what 'Actual(s)' means in the context of these reports. What is the correct explanation?

• The projected rooms or ADR for the future.

• The rooms or ADR that materialized in the past.

• The estimated revenue from ancillary services.

• The average length of stay for guests.

Marie-Cheryl and Léa are helping to manage a hotel. They want to understand how long guests usually stay at their hotel. What does "Average Length of Stay (ALOS)" measure in a hotel?

• The average number of guests per room.

• The average number of days that guests stay.

• The average number of rooms booked per guest.

• The average number of cancellations per booking.

Kelly calls the hotel and says she will not use her reservation. In revenue management, what does this mean?

• A guest who informs the hotel in advance that they will not be using their reservation.

• A guest who extends their stay.

• A guest who changes their reservation date.

• A guest who upgrades their room.

Michel is managing a hotel and wants to prevent new reservations on certain dates due to a special event. Which inventory control tool should Michel use?

• Closed to Arrival (CTA)

• Competitive Set

• Contracted Block

• Cut-Off Date

Kelly is working at a hotel and needs to process payments made to a travel agency for each reservation. What are these payments called?

• Commissions

• Comp

• Competitive Set

• Contract

Amélia and Thomas are organizing a school trip and have arranged a group block and special rate at a hotel. What special perks might the hotel offer to their group besides the group block and special rate?

• Concessions

• Comp

• Contracted Block

• Cut-Off Date

Michel and Amélia run a bakery. When demand for their pastries suddenly increases, they find they cannot quickly bake more to meet the higher demand. What is this condition called?

• Constrained Supply

• Competitive Set

• Compression

• Definite

Marie-Cheryl and Thomas are organizing a school trip and need to reserve hotel rooms for their group. What is the date called by which the hotel rooms must be reserved?

• Cut-Off Date

• Days Out/Days Left

• Day(s) Before Arrival (DBA)

• Definite

At a concert, Alexanne and Thomas notice that ticket prices are different depending on when and where you buy them. What does this pricing strategy, known as "Dynamic Pricing," mean?

• Selling the same products at different prices to different customers

• Offering discounts to loyal customers

• Setting a fixed price for all customers

• Providing free upgrades to customers

Kelly notices some guests would have paid more than what she charged. What does "Leaving Money on the Table" mean?

• Charging less than a guest would have been willing to pay

• The rooms that are available for sale at a hotel

• Metrics used to assess a hotel's performance

• A stipulation often included in negotiated rate contracts