In the book, Service America there are two basic kinds of service. They are Help me and ________.
A) Fix it B) Serve me C) Support me D) Talk to me
An organization that rates and classifies hotels and awards them Diamonds is the
A) American Hotel & Motel Association B) American Automobile Association
C) United States Automobile Club D) Exxon Excellence Association
Draw the format for a Consolidated P&L. Be sure to include the three separate sections.
What will be an ideal response?
Corporations that operate a hotel without capital outlay in exchange for a percentage of gross sales are known as
A) leasing companies B) management companies
C) franchisees D) vacation brokers
List five characteristics of a P&L Statement.
What will be an ideal response?
A guest is anyone who:
A) travels further than 50 miles
B) receives or benefits from the output of someone's work
C) is willing to pay for a service product
D) stays at a lodging property for more than one night
Until the 1830's, which of the following was not a principal reason for traveling by water?
A) War B) Pleasure C) Immigration D) Trade
Marriott builds a hotel for 34 million and sells it to a banking firm for 52 million. Marriott charges the banking firm 2-4 of gross revenues to operate the hotel. This business transaction is known as
A) Investment Partnership B) REIT
C) franchising D) management contract
Calculate the wage cost percent, operating cost percent and the profit percent for the following information:
Actual Results Cost/Profit Percent
Room Sales 1,200,000
Wage Cost 150,000
Operating Cost 200,000
Rooms Profit 850,000
Approximately what percentage of the U.S. economy is engaged in service industries?
A) 85 B) 30 C) 100 D) 70
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