Open House Session 10/17/2024

If a hotel charges $200 per room and the cost of running that room per night is $50, how much profit is made per room per night?

• $50

• $100

• $150

• $200

A hotel with a higher occupancy rate always generates more profit than a hotel with a lower occupancy rate.

• True

• False

Which of these is a common financial challenge for hotels?

• Predicting occupancy rates

• Keeping the lobby clean

• Offering 24/7 customer service

• Providing Wi-Fi to guests

What is the primary financial goal of a hotel manager?

• To make the guests happy

• To reduce the cost of food

• To have the most luxurious rooms

• To maximize profit

If a hotel offers a 20% discount to guests who book early, but this attracts more guests, what financial concept does this illustrate?

• Supply and demand

• Revenue management

• Variable costing

• Budgeting

Which famous hotel or resort is known for being one of the most expensive in the world, often charging more than $20,000 a night for a suite?

• The Ritz-Carlton, Paris

• Burj Al Arab, Dubai

• Four Seasons Resort at Walt Disney World Resort, Orlando

• The Mark Hotel, New York City