Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

4th Year (1st Sem) > ROOMSDIV- MIDTERMS > Flashcards

ROOMSDIV- MIDTERMS Flashcards

1
Q

eight (8) revenue streams:

A
  1. packages
  2. corporate
  3. OTA (online travel agencies)
  4. FIT (Foreign independent Travelers) Wholesale
  5. Long staying Guests
  6. Individual Others
  7. Group
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

bundled deals offered by hotels that include accommodation along with additional services or amenities

A

packages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

these are designed to enhance the guest experience
- provides a combination of services at a discounted or promotional rate compared to booking each service separately.

A

packages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

ex.
4 night stay with breakfast and dinner for PHP 20,000

A

packages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

bookings made by business clients, companies, or organizations for their employees or
guests.

A

corporate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

this is usually negotiated and discounted based on the volume of bookings the company is expected to make over time.

A

corporate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

three (3) characteristics of corporate bookings

A
  • negotiated rates
  • value-added services
  • flexible policies
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

a characteristics wherein hotels often provide special rates to companies based on their expected number of room nights or the frequency of bookings. These rates are typically lower than standard rates.

A

negotiated rates

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

characteristic wherein corporate bookings might
include additional amenities like free Wi-Fi, complimentary breakfast, access to business centers, or meeting room facilities.

A

value-added services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

a characteristics wherein companies require more flexible booking and cancellation policies to accommodate changes in travel plans.

A

flexible policies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

bookings made through third-party online platforms like Booking.com, Expedia, Agoda, or similar websites.

A

OTA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

these platforms allow guests to search for and book hotel rooms, often at competitive rates, from a wide selection of hotels.

A

OTA

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

three (3) characteristics of OTA bookings:

A
  • wide reach
  • commission-based model
  • flexible pricing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

these provide a vast marketplace for
hotels,

A

wide reach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Hotels typically pay a commission to the OTA for each booking made through their platform. This commission can range from 10% to 25% of the booking value.

A

commission-based model

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Hotels can adjust their rates dynamically on these platforms to remain competitive and attract more bookings.

A

flexible pricing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Bookings made by travelers who arrange their trips independently rather than as part of a pre-arranged group or tour.

A

FIT Wholesale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

These travelers typically book their hotel stays through travel agents or wholesalers that offer discounted rates for longer stays or larger volumes.

A

FIT wholesale (foreign independent travelers)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

three (3) characteristics of FIT wholesale:

A
  • discounted rates
  • flexibility
  • partnership with travel agencies
20
Q

the rates are usually lower than standard room rates, as they are often negotiated in bulk by travel agents or wholesalers.

A

discounted rates

21
Q

have more control over their travel plans, allowing them to customize their stay according to their preferences.

A

flexibility

22
Q

Hotels partner with travel agencies or tour operators to reach a wider audience of independent travelers.

A

partnership with travel agencies

23
Q

refers to hotel guests who stay for an extended period, typically longer than the average guest.

A

LSG

24
Q
  • These guests usually book rooms for a week, a month, or even longer.
  • they provide a steady source of revenue and help maintain occupancy rates over a longer time.
A

LSG

25
Q

for LSG, a stay is considered a long stay if it lasts ___.

A

7 nights or more
14 nights or 30 nights (extended- stay properties)

26
Q

characteristics of LSG:

A
  • extended duration (min stay is 7 nights)
  • discounted rates (incentive for extended stay)
  • value-added services (additional amenities)
27
Q

VC (50%) is often referred to as:

A

visitor commission

28
Q

Revenue split with partners or commissions
with the hotel retaining 50% of the revenue.

ex. ₱10,000 booking with 50% retained by the hotel.

A

VC (50%)

29
Q

Revenue generated from bookings made for groups of guests, often for specific events or purposes.

A

groups

30
Q

these often come with negotiated rates and special arrangements, which differ from standard individual bookings.

A

groups

31
Q
  • handled as a unit to simplify reservation, pricing, and billing processes
  • represents a significant portion of the hotel’s revenue due to the volume of rooms reserved.
A

groups

32
Q

booking is usually classified as a group booking when it involves ___

A

5- 10 or more rooms

33
Q
  • refers to a miscellaneous category in hotel revenue
  • income from various guest-related services that do not fall under the main revenue streams.
A

individual others

34
Q

characteristics of individual others:

A
  • additional service (include charges for services requested)
  • incidental fees (fees for parking and late check-out)
  • one-time revenue
35
Q

This category under individual others often represents one-time or occasional revenue that is not directly tied to room occupancy.

A

one-time revenue

36
Q

these are expenses that change directly in proportion to the level of business activity or guest occupancy in a hotel.

A

variable costs

37
Q
  • these costs increase when the hotel is busier (higher occupancy) and decrease when the hotel is less occupied.
A

variable costs

38
Q

seven (7) variable cots in a hotel

A
  1. housekeeping & cleaning supplies
  2. laundry and dry cleaning
  3. utilities
  4. f&b costs
  5. operating supplies
  6. COGS for minibar and gift shops
  7. guest transportation services
39
Q

Revenue remaining after variable costs, covering fixed costs and profit.

A

contribution margin analysis

40
Q

a financial metric used to evaluate how much revenue remains after deducting variable costs from sales.

A

contribution margin analysis

41
Q

the remaining amount in the margin analysis is called

A

contribution margin

42
Q
  • contributes to covering the fixed costs and generating profit for the business
  • vital tool in understanding the profitability of a hotel’s Rooms Division or any business operation.
A

contribution margin

43
Q

a crucial financial tool that helps hotels and businesses understand the relationship between costs, pricing, and profitability.

A

contribution margin analysis

44
Q

in contribution margin analysis, this helps determine how much money from each unit of sale contributes to covering fixed costs and profits.

A

profitability assessment

45
Q

Aids in setting prices that cover both variable costs and fixed costs while ensuring a profit margin.

A

pricing decisions

46
Q

Allows managers to identify areas where cost reductions are possible without affecting product quality or customer satisfaction.

A

cost control

47
Q

Used to calculate where total revenue equals total costs, meaning the business neither makes a profit nor a loss.

A

break-even analysis

4th Year (1st Sem) (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions