Revenue Management 101: Knowledge Check

Your journey through Revenue Management 101 is nearly complete! This final unit will help ensure you haven’t missed anything critical along the way. Think of this as a guide to help you review critical lessons you should have learned throughout the course. It is a good idea to make sure you have completed all the courses in this unit before attempting this knowledge check.  

For each important topic, you’ll be offered a question to determine your understanding. For anything you answer incorrectly, you will be provided guidance to help you hunt down what you may have missed in a course that could help you answer the question. You will be offered links to previous courses directly from the knowledge check. Leave the knowledge check open while you visit these courses. After reviewing a course, simply return to the knowledge check and correct your answer. Once you have answered every question correctly, you will have successfully completed Revenue Management 101.

Strategic Goals

Which of the following represents a strategic goal as expressed in our Company Overview video?

Revenue Management Maturity Profiles

Match each characterization to the proper profile of the Revenue Management Maturity Framework

Сombine elements from the left column with the elements on the right
Revenue Aspirations
 
Recognizing improvements
Revenue Aware
 
Transformation begins
Revenue Informed
 
Desire to change
Revenue Confident
 
Empowering the culture
Revenue Innovative
 
Influencing the organization

Revenue Optimization Cycle

Select the 3 key questions users should ask from the choices below.

Revenue optimization strategies

Which of the following is considered an effective strategy for revenue optimization?

Benefits of Revenue Management

Which of the following represent the benefits EconomyHotels described as a result of implementing an our products?

Revenue Manager Concerns

Which 2 of the following initial RM concerns did Neil Farthing mention in the Northstar video?

True Partnerships

Which of the following characteristics describe “true partnership” according to our team from the 10 Minute World Tour video?

Revenue management measurements

While RevPAR or Revenue per Available Room is the preferred internal measurement for performance at a hotel, which of the following represents the best measure for comparing performance against the market?