What are REVPAR, ADR, Occupancy Rate? What role do they have in determining Revenue Management formulas?
2. What three different individuals may be given responsibility for Revenue Management? What are the benefits and disadvantages of each?
3. What are Allocation Controls? What are Availability Controls? What are the benefits and disadvantages of each?
4. What type of information must a Revenue Manager have in order to successfully forecast pricing and revenue flow? How is this information collected and over what period of time?
5. How important is revenue management to the overall financial success of the hotel operation? What departments are usually involved in the revenue management process?