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Exam 2 | HTM 4454 - Hospitality Revenue Management, Quizzes of Tourism Economics and management
Class: HTM 4454 - Hospitality Revenue Management; Subject: Hospitality and Tourism Management; University: Virginia Polytechnic Institute And State University; Term: Fall 2015;
Typology: Quizzes
2015/2016
1 / 2
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Download Exam 2 | HTM 4454 - Hospitality Revenue Management and more Quizzes Tourism Economics and management in PDF only on Docsity! TERM 1 Cannibalization DEFINITION 1 When the introduction of a new product negatively impacts the demand of an existing product TERM 2 Forecasting DEFINITION 2 Process-historical-current-future-insight TERM 3 Historical Data DEFINITION 3 -Develop a preliminary estimate using an extrapolation method-By day / segment fulfilled bookings Reservations - (accepted and denied) length of stay cancelations and no shows walk ins ADR STR Data -By day -> occupancy rate % -(by room type / rate code) TERM 4 Current Data DEFINITION 4 Use current macro and micro dat to adjust the preliminary forecast.- By day / segment OCC and Availability ADR - Group rooms pace report Booking curves - non-room revenue pace TERM 5 Future data DEFINITION 5 Adjusting for anticipated changes in the market and competitive environments.Reservation by rate