Hotel and Hospitality Flashcards

Flashcards for hotel and hospitality review.

What are the three types of experiences?

Basic, Memorable, and Transforming

Name four domains related to the role of the guest.

Entertainment, Educational, Escapist, and Esthetic

What is the promille rule?

Room rate determined by dividing the total investment cost by the total number of rooms.

List six factors affecting the room rate.

Market situation, prices of a city-center, occupancy rate, competition, reliability, and events

What are touchpoints in the customer journey?

Potential moments of interaction with the guest.

Name three main target groups in hotels.

Gen X, Gen Y&Z, and the growing middle class

List five trends in terms of target groups in hotels.

Germans and Belgians by the water, the luxury peace seeker, the demanding flyer, staycation, and workcation

Give four examples of direct booking channels.

Walk-ins, phone/email, hotel website/app, and sales department

List two advantages and two disadvantages of using online travel agents (OTAs) as booking channels.

Advantages: Convenient, comparability of hotel chains and reviews. Disadvantages: High commission, skipping important steps in the guest journey

What are four reasons for adding experience to a hotel

FOMO, Bucket list, Hedonism, Looking for stimuli

What are three reasons why hotel chains have more growth than independent hotels?

More investments are made in hotel chains, brand value has increased, and independent hotels have more fragile business operations.

Give three advantages of independent hotels.

More focus on guest wants, more room for original design, and less bureaucracy

Give three advantages of hotel chains.

Financial advantages, interesting offers with travel companies, and familiarity and added value of a brand

Name three chain types.

Low budget, mid budget, and high budget

What is the ultimate goal of the Theory of Pine and Gilmore?

Transformation which requires engagement, meaningfulness, and awareness

Name three most common partnerships.

Franchise contract, management contract, and marketing consortium

List four methods for measuring guest satisfaction

Check-out, survey, mystery guest, and review

What are some tips for dealing with negative reviews?

Respond to the review online and thank the authors for their reaction to underpin your importance, making you appear reliable and transparent.

What are the overall sentiments of online reviews?

14% negative, 26% mixed, and 60% positive

What are some advantages and disadvantages of using influencers as reviewers?

Advantages: Relatively cheap, comes across as more reliable with certain target groups. Disadvantages: Reach/effect is unclear, may appeal to totally different target group.

Define Imagineering.

A compound of two words: imagination (fantasy) and engineering (technology).

What is B2B?

Business to business; important in a hotel industry to maintain facilities, stay up to date on industry upgrades, generate sales and other services that can improve the hotel building, reputation and management.

List six tactics to attract the business market.

Offer business rates with recreational facilities, optimizing social media, email optimization, easy transport, fast check-in and check-out, and healthy menu options

Name four types of contracts.

Allotment contract, guarantee contract, free sale contract, and long-term contract

What is a revenue manager responsible for?

Responsible for the hotel’s tactical and operational pricing and reservation strategy

List five characteristics of a revenue manager position.

Forecasting, Pricing, Stock Management, Marketing and Distribution channel management

Describe two trends and developments related to climate in the hospitality industry.

Solar panels and green facades, and eco-friendly meetings

What is a workcation and staycation and why are they popular?

A workcation and staycation refer to remote work while vacationing and a vacation in one's home country, respectively. They are popular because of COVID-19 pandemic, environmental awareness, and the ability to work from home

How is digitization impacting the hotel industry?

With personalization, you are more responsive to your guests needs. Important to use technology because it takes pressure of you enormously from chronic staff shortage, like a chatbot on the website 24/7.

What product must meet to apply revenue management to a product?

Relative fixed capacity, segmented market(with predictable demand per segment), time-bound demand, perishable product, good price structure(fixed and variable costs), convenience factor

What is a hotel?

A service business where a person can stay or find accommodation for a fee.

List some factors that affect the room rate.

Market situation, The occupancy rates, Competition, Reliability, Historical data, Events

Name five ways to cut costs in a hotel.

Pay less commission to OTA’s, using fewer staff, lower energy costs, cheaper suppliers.

What is Big Data? And how can it help improve revenue management?

Big data is the collection of data + a key concept to identify important patterns and trends. It can help improve revenue management + optimize marketing efforts + improve the customer experience being delivered

Name some next possible steps to enrich a customer panel

Development of personas, mapping the customer journey for each target group, Testing proposition and communication tools, determining where these target groups live, Targeting the target groups with online ads.

What is the revenue managers role with Forecasting?

Important task of the revenue manager is to predict how busy the company will be, in addition, the revenue manager, together with the general manager, sets the various budgets for all department. forecasts also determine future pricing strategy.

What is a KPI?

Key performance indicator, a measurable value that shows how an organization or company is performing when it comes to specific objectives.

Define Occupancy rate.

Occupancy rate = total number of occupied rooms / total number of available rooms x 100%

What are some ways to Increase occupancy rate?

Packages, Encourage long stay booking, tinkering with booking platform and price

What is ADR?

This is one of the KPI’s for a hotel show the price paid on average for a hotel room.

What are some Tactics to increase average daily rate?

brand marketing, Segmentation (tailoring to target group),Distribution costs (away with high commission fees) and Upselling

Define what RevPAR means.

Revenue per available room shows how successful a hotel is in filling rooms during a given period.

Name one formula for calculating RevPAR:

RevPAR = ADR x occupancy rate OR RevPAR = total revenue per night : total number of room available

How would a hotel Adjust price to manage RevPAR?

Consider supply and demand. With high demand, raise room rate; with low demand, lower the room rate.

What is TRevPAR?

Total revenue per available room used in the field of revenue management to assess the total amount of revenue generated by a property, per room, regardless of whether rooms are sold.

How is TRevPAR calculated?

TRevPAR = total turnover / number of available rooms

What is the difference between RevPAR and TRevPAR:

RevPAR deals exclusively with revenue generated by selling rooms, while TRevPAR measures all revue, including money spent on room service, in the restaurant, at the bar etc.