1. Which of the following are elements of revenue? a. food and beverage b. volume and...
1. Which of the following are elements of revenue?
a. food and beverage
b. volume and price
c. profits and cash flow
d. advertising and profits
2. Ignoring price elasticity, which of the following is the best contributor to larger profits?
a. increase in menu prices
b. increase in customers
c. increase in advertising
d. inelastic demand
3. Which of the following can be used to forecast sales?
a. statistical models
b. CVP
c. moving average method
d. all of the above
4. Which of the following is the correct statistical model to forecast room sales?
a. Rooms x Occupancy x Days Open
b. Rooms x Average Room Rate x Days Open
c. Rooms x Occupancy x Average Room Rate
d. Rooms x Occupancy Percentage x Average Room Rate x Days Open
5. If food sales average $50,000 and liquor sales average $10,000, what relationship can be concluded?
a. There is no relationship between food and beverage sales.
b. Food sales are more than liquor sales.
c. Liquor sales average 20% of food sales.
d. Liquor prices should be increased.
6. Which of the following can be used to calculate an average room rate if there is no actual sales data available?
a. Hubbart formula
b. weighted average method
c. Forecasted Rooms Sales Dollars x Forecasted Rooms Sold
d. all of the above
7. Which of the following is called a bottom-up approach to pricing?
a. statistical models
b. Hubbart formula
c. weighted average method
d. all of the above
8. What is the definition of contribution margin?
a. the portion of revenue that contributes to fixed costs and/or profit
b. the amount of income before income taxes (IBIT)
c. the amount of income after income taxes
d. the amount necessary to cover variable costs
9. What is the definition of sales mix?
a. food and beverage and other items sold
b. sales from all departments
c. the proportion of each revenue center’s sales to total sales
d. sales shared by two or more departments
10. Which of the following is the CVP formula to forecast sales dollars?
a. (Fixed Costs + Objectives) x (100% – VC%)
b. (100% – VC%) x (Fixed Costs + Objectives)
c. (Fixed Costs + Objectives) x CM%
d. a and c
Homework Answers
Answer to Q 1 is a
Answer to Q 2 is b
Answer to Q 3 is a
Answer to Q 4 is d
Answer to Q 5 is c
Answer to Q 6 is c
Answer to Q 7 is c
Answer to Q 8 is a
Answer to Q 9 is c
Answer to Q 10 is d
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Total number of days in a year
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Total room nights
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Occupancy Rate
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Total number of nights occupied
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New average revenue per night per room
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Total Number of nights
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I have part A completed I just need the required question at the end answered. Thanks ...
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question at the end answered. Thanks
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200
Total number of days in a year
365
Total room nights
73000
(200 X 365)
Occupancy Rate
70%
Total number of nights occupied
51100
(730000 X 70%)
Total Lodging Revenue
11242000
Average Revenue per night/per room
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Increase expected in 2nd lodge
5%
New average revenue per night per room
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Total Number of nights
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question 13 14
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HomeSuites is a chain of all-suite, extended-stay hotel
properties. The chain has 18 properties with an average of 220
rooms in each property. In year 1, the occupancy rate (the number
of rooms filled divided by the number of rooms available) was 70
percent, based on a 365-day year. The average room rate was $170
for a night. The basic unit of operation is the “night,” which is
one room occupied for one night.
The operating income for year 1...
HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 16 properties with an average of 150 rooms in each property. In year 1, the occupancy rate (the number of rooms filled divided by the number of rooms available) was 70 percent, based on a 365-day year. The average room rate was $204 for a night. The basic unit of operation is the "night," which is one room occupied for one night. The operating income for year 1...
I have part A completed I just need the required
question at the end answered. Thanks
:
Total Rooms available
200
Total number of days in a year
365
Total room nights
73000
(200 X 365)
Occupancy Rate
70%
Total number of nights occupied
51100
(730000 X 70%)
Total Lodging Revenue
11242000
Average Revenue per night/per room
220
(11242000 / 51100)
Increase expected in 2nd lodge
5%
New average revenue per night per room
231
Total Number of nights
102200...
I have part A completed I just need the required
question at the end answered. Thanks
:
Total Rooms available
200
Total number of days in a year
365
Total room nights
73000
(200 X 365)
Occupancy Rate
70%
Total number of nights occupied
51100
(730000 X 70%)
Total Lodging Revenue
11242000
Average Revenue per night/per room
220
(11242000 / 51100)
Increase expected in 2nd lodge
5%
New average revenue per night per room
231
Total Number of nights
102200...
Woodview Lodge is a premium, all-suite lodge in the Appalachian Mountains. The lodge has 200 rooms In its first year of operations (2019), its occupancy rate (number of rooms filled divided by the number of rooms available) was 70%, based on a 365-day year. The average room rate was $220 per night. The basic unit of operation is the "night." Which is one room occupied for one night. Operating income for 2019 is as follows: Woodview Lodge Income Statement For...
question 13 14
Thanks for your help
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