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HTM 4454 Study Guide - Midterm Guide: Revpar, Clayton Antitrust Act, Time Series


Department
Hospitality and Tourism Management
Course Code
HTM 4454
Professor
Perdue
Study Guide
Midterm

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Exam 1 Study Guide
15 MC / 4 SA
Intro to Rev Mgt
Necessary conditions
o Supply and demand structures time series data
o Market structures
o Nothing about RM process, but should get logic
o Pace report how much is booked and forecasting
o OTB on the books
Legal and ethical issues
o Sherman / Clayton Act
Hotel Math
Internal metrics Occupancy, REVPAR, ADR
External Index
How to calculate, how to interpret, so what
Pricing
Best Available Rate
Price Transparency
Rate Cannibalization
Best Rate Gaurantee
Rate Parity Agreements OTA’s requiring hotels to guarantee their rates are no
lower
Last Room Available rates
CONUS rates General service administration
Cross product elasticity probability of supplementary product purchases given the
room purchase
Pricing Methods
Why not cost based pricing
Consumer willingness to pay pricing
Consumers with competition based pricing
Rate Portfolio table, rows are forecasted occupancy rate, columns are the various rates
you have in the hotel
Rate Fences
Why fences? Types and uses?
Market Segmentation
Understanding and optimizing the mix of customers
Nature and forms of segmentation
Psychographic segmentation systems
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