When the price is a function of costs, a budget allows management to estimate ___________ and set prices accordingly.
Fill in the blank(s) with correct word
Each question of the Gallup Organization's 12 questions relates to _____________ climate.
Fill in the blank(s) with correct word
Describe the court-mandated standards of physical and property related aspects of a hotel.
What will be an ideal response?
A historical supply and demand analysis is
A) not relevant because the appraiser only worries about future events.
B) a good starting point in order to make projections.
C) all an appraiser needs to make effective projections.
D) usually too time-consuming to include in the appraisal.
Management should ensure that there is congruence in the ________ _________ preferred by the guest and offered by the hotel.
a. Managerial response
b. Recovery strategy
c. Employee empowerment
d. Customer orientation
Most properties prepare monthly, ten-day and three-day __________ of business volume.
Fill in the blank(s) with correct word
Taking inventory each month and tracking usage per occupied room helps a property establish acceptable par levels for ______________ inventories.
Fill in the blank(s) with correct word
Beyond the breaking point, the only costs incurred by the hotel are ________.
Fill in the blank(s) with correct word
Hotels are financed by the contribution of funds from ___________ and from monies borrowed from financial institutions.
Fill in the blank(s) with correct word
Employees are constantly trying to decide exactly how wary they should be when dealing with ____________.
Fill in the blank(s) with correct word
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