Hospitality Analytics/Revenue Management Quiz #6: Forecasting Demand 1. What is the lodging industry term for a revenue management strategy that instructs reservationists to decline any room reservation request that does not equal or exceed the predetermined minimum number of nights allowed? -MLOS 2. Amanda is the revenue manager of a hotel. When she opened her e-mail last Friday she found a message from the Executive Director of the state dental association asking Amanda for a formal price quote on rooms and meeting space needed by the association for their annual conference. What would Amanda call this inquiry? RFP 3. Donna is a hotel revenue manager preparing next year's rooms forecast. Dorma knows that in November of next year a new hotel is opening near her own. As a result, she is considering reducing her rooms forecast for that month. If she does so, what data type will she be primarily using to make her decision? " -Future Data 4. What is the name for the rooms-related report that would identify the number of group rooms currently on the books as well as the rate or speed at which group rooms are currently being sold? -Pace Report 5. In a limited service hotel, what is the incremental expense incurred in selling one guest room? " -CPOR 6. "In the lodging industry, when is a guest considered to be an overstay? -When the guest checks out of the hotel after their originally scheduled check-in dateftime 7. In the lodging industry what factors would be overinated to produce an unrealistically high RevPAR forecast? -ADR andfor Occupancy percentage 8. What is the most customercentric strategy for revenue managers to employ if they seek to optimize ADR and ReVPAR in periods of temporarily heightened demand? -Eliminate Discounts 9. What is the most likely result of a revenue manager 5 decision to reduce rack room rates during periods of reduced demand? -Competitors rates will also be reduced