RevMan - Review Questions

mean modeling the consumer response to a given price at a given time for a

given hotel

(a)  

inventory controls are sometimes called

(a)  

consider a group

booking for 50 rooms. On the day of the event, only 45 rooms are actually

needed. The 5 lost rooms represent (a)  

means putting “price tags” on the inventory, for each arrival date,

length of stay, room type, and segment

(a)  

The discipline

used to be called Yield Management

(a)  

Even in the middle of the pandemic, any credible

forecast of the future is based on historical data

• True

• False

A strong demand forecast will (should) result in upward pressure on

pricing, because with excess demand, I can tolerate a lower price

conversion (meaning, a higher percentage of customers can say no to that

price, and I can still have a high occupancy).

• True

• False

If a hotel uses (a)   , where the price on a given day is independent of your stay

pattern

The evolution from revenue management to revenue strategy means that

we will have price modeling on all revenue streams

• True

• False

the hotel clearly benefits

from an upsell, while it may or may not benefit from an upgrade.

Economists call this situation the (a)   .