STR Exam

STUDY
PLAY
Which one is a parent company?
a. Hampton Inn
b. Motel 6
c. Choice
d. Holiday Inn Express
c. Choice
Which is a true statement about parent companies?
a. Management companies have contracts where they receive payment for their services and/or some portion of profits
b. Management companies many only manage one chain
c. Management companies will always own the hotels they manage
d. Management companies serve the exact same role as asset management companies
A. Management companies have contracts where they receive payment for their services and/or some portion of profits
Which one of the following is an accurate statement regarding Scale and Class groups and a single chain?
a. A Ritz Carlson hotel in the US can be in one Scale group and a Ritz Carlton hotel in Japan can be in a different Scale Group
b. A Ritz Carlson hotel in the US can be in one Class group and a Ritz Carlton hotel in Japan can be in a different Class group
c. A Ritz Carlson hotel will always be in the same Scale and Class groups in every country throughout the world
d. A Ritz Carlson may choose which Scale and which Class they are in
c. A Ritz Carlson hotel will always be in the same Scale and Class in every country throughout the world
Which one of the following is an accurate statement regarding class groups?
a. The names of the class group are very different than the names of the scale groups
b. Class groups are more popular and relevant in North America rather than outside North America
c. Independent hotels are slotted into class groups based upon the ADR of the independent hotel compared to the chain hotels in the same market
d. Once an independent hotel is slotted into a class group, it will never change
c. Independent hotels are slotted into class groups based upon the ADR of the independent hotel compared to the chain hotels in the same market
Which is not a valid non-geographic category?
a. Extended stay
b. Boutique
c. Guest Satisfaction Rating
d. Destination Resort
C. Guest Satisfaction Rating
All of the following are good reasons for a hotel to have an additional comp set, expect which one?
a. Have a local comp set based upon geography and another based upon a special feature or niche
b. Have different sets for weekday/weekend or group/transient business
c. Have one set that you can easily beat and another which is a realistic target
d. different entities may not agree, for example, chain versus management company
c. Have one set that you can easily beat and another which is a realistic target
Which is NOT a valid rule related to changing a comp set?
a. If adding 2 hotels to a comp set, both must be in different chains
b. A single hotel may be added to a comp set if it has been open less than six months
c. A single hotel may be added to a comp set at any time
d. Any change must involve two or more hotels
c. A single hotel may be added to a comp set at any time
Which statement is true regarding RevPar?
a. it is almost always higher than ADR
b. It can be thought of as a combination of supply and demand
c. When a hotel or GM is evaluated, the RevPAR metric is rarely considered
d. It can be thought of as a combination of Occupancy and ADR
d. It can be thought of as a combination of Occupancy and ADR
Which one of the following statements is true regarding "sufficiency" as it is related to comp set data?a. If a comp set is not sufficient for 3 consecutive months, you will no longer receive a STAR report
b. If a comp set number for just a single month is not sufficient, it will still be displayed on the STAR report
c. Percent change number for a single month will appear on the STAR report if either the "This Year" or "Last Year" data is sufficient
d. The sufficiency rules are in place to protect the confidentiality of the data
d. The sufficiency rules are in place to protect the confidentiality of data
KPIs for the comp set are:
a. Always based upon the aggregated raw data of each member of the comp set
b. Always based upon a straight average of the metrics, for example the occupancies, of each member of the comp set
c. The comp set methodology differs inside and outside of North America
d. The comp set methodology differs by hotel company
a. Always based upon the aggregated raw data of each member of the comp set
When happens when there is a non-reporting hotel in a comp set?
a. modeled data is used for the non-reporting hotel
b. Market data is used for the non-reporting hotel
c. Prior year data for the non-reporting hotel is used
d. The comp set average is calculated based upon the reporting hotels
d. The comp set average is calculated based upon the reporting hotels
When you receive your STAR report your ADR index was 110 and your occupancy index was 90. What do you know?
a. The RevPAR index will be in the neighborhood of 115
b. The RevPAR index will be in the neighborhood of 100
c. The RevPAR index will be in the neighborhood of 105
d. The RevPAR index will be in the neighborhood of 85
b. The RevPAR index will be about 100
When you receive your STAR report, you see that your RevPAR index was 90 this year compared to 80 last year. What do you know for sure?
a. Your hotel outperformed the comp set when it comes to RevPAR both years
b. Your hotel outperformed the comp set this year when it comes to RevPAR, but not last year
c. Your hotel will have a positive RevPAR Index Percent Change
d. Your hotel would have a positive RevPAR Percent change
c. Your hotel will have a positive RevPAR Index percent change
The number of rooms available in a total market can change over time due to what four factors?
a. New hotel openings, closings, brand conversions, and renovations
b. New hotel openings, brand conversions, hotel room additions, and hotel room drops
c. Hotel closings, brand conversions, hotel room additions, and hotel room drops
d. New hotel openings, hotel closings, hotel room additions, and hotel room drops
d. New hotel openings, hotel closings, hotel room additions, and hotel room drops
What is the minimum number of reporting hotels for an industry segment to be considered sufficient?
Four
What is the minimum number of reporting hotels for a comp set to be considered sufficient?
Three
Which one of the following is an accurate statement regarding segmentation and additional revenue data on the STAR reports?
a. Additional revenue categories include F&B, Rentals, and Other in addition to rooms revenue
b. Group Rooms and Revenue are defined as business sold in blocks of 50 rooms or more
c. very few luxury and upper upscale chain hotels submit segmentation and/or additional revenue data
d. the most common example of contract rooms and revenue is airline crew business
d. the most common example of contract rooms and revenue is airline crew business
The line graph at the top of the Comp Set Report in a monthly star report shows what?
a. actual values of occupancy, ADR and RevPAR of the subject hotel and the comp set
b. Actual percent changes for Occ, ADR, RevPAR of the subject hotel and the comp set
c. Index values for Occ, ADR, RevPAR
d. Index percent change values for Occ, ADR, and RevPAR
c. Index values for Occ, ADR, RevPAR
Which is an accurate statement regarding the Day of Week and Weekday/Weekend tab in the Monthly STAR report?
a. it shows all the KPIs for all four time periods for the property and the comp set
b.it shows data by every day of the week, as well as a weekday and weekend subtotal
c. It is a very valuable tab and can be used to find areas of improvement
d. all of the above
d. all of the above
The "Weekly Performance At a Glance" tab on the Weekly STAR report displays what info?
a. Detail daily data for every day of the prior week
b. A weekly total
c. Running 28 day data
d. All of the above
d. all of the above
The "Perspectives" tabs of the weekly STAR report show what info?
a. A recap of daily data performance for the last 28 days
b. 12 weeks of weekly data
c. Subtotals for the KPIs for the current week, running 28 das, running month-to-date, and running year-to-date
d. Monthly performance numbers for the last 3 months
a. A recap of daily data performance for the last 28 days
The "Daily Data for the Month" tab on the Weekly STAR report displays what info?
a. Provides a running MTD total based upon daily data
b. Shows KPIs for the subject property and the comp set for each day of the prior month
c. Displays graphs of index values for every day of the current month
d. all of the above are displayed on this report
d. All of the above are displayed on this report
Which of the following is a rule related to requesting Trend Report(s)?
a. You must select 4 or more participating hotels
b. A single hotel may account for a max of 40 percent of the participating room supply
c. If you request multiple Trend reports, the hotels you have selected must differ by more than one participating hotel on subsequent Trend request
d. All of the above are rules related to requesting a Trend report
d. All of the above are rules to requesting a Trend Report
Which is NOT a valid type of data that you can request to include on a Trend Report, in addition to monthly data?
a. Daily data
b. Weekly data
c. 12-month moving average data
d. Segmentation data
b. Weekly data
Several tabs in the Trend Report display columns with Census Props and Rooms and STAR participation. Which is an accurate statement about this data?
a. The data in these columns will not change over time
b. These columns cannot help determine if there is a "consistent sample" for the Trend Report
c. These columns show the total number of hotels and rooms for the selected group of hotels, as well as the percent of those rooms that submit performance data to STR
d. All of the statements are accurate
c. These columns show the total number of hotels and rooms for the selected group of hotels, as well as the percent of those rooms that submit performance data to STR
Aggregating means:
a. finding averages from several sets of individual data
b. Temporarily removing a property from a comp set
c. Changing a comp set
d. Isolating a single property's data
a. Finding averages from several sets of individual data
A HOST or Profitability report displays what type of info?
a. Profit and Loss, including revenue, expenses, and profits accounts
b. Balance Sheet (assets) info
c. Monthly Performance (Occ, ADR, RevPAR) data
d. All of the above
A. Profit and Loss, including revenue, expenses, and profit accounts
The HOST report displays data based on what time period?
Annual
A HOST or profitability report display data for how many years?
One
What is the ideal segmentation strategy for a property?
a. Different for each property and depends on the efficiency of each segment's ADR and demand levels
b. Have even demand segments within the property
c. Use the same strategy for each segment
d. All of the above
a. different for each property and depends on the efficiency of each segments ADR and the demand levels
Why is it important to compare daily data on monthly STAR reports with daily data from weekly STAR reports?
a. Monthly STAR report data undergoes stringent data cleansing processes that check for abnormalities; daily data in weekly and daily STAR reports does not
b. It is important to compare, because daily data on monthly STAR reports shows much more data and gets more granular than daily data on daily and weekly STAR reports
c. Daily data on daily, weekly and monthly STAR reports should always match-up exactly the same. If there are differences, then there are problems with your STAR report
d. all of the above
a. Monthly STAR report data undergoes stringent data cleansing processes that check for abnormalities; daily data in weekly and daily STAR reports does not
The HOST report show what kind of data?
Profit and Loss
Which is a true statement about parent companies?
a. Parent companies and the related chains have changed over time
b. Parent companies must consist of no more than 5 chains
c. Parent companies can only consist of chains in a single scale
d. Parent companies can only have hotels in a single country
a. Parent companies and the related chains have changed over time
What are the three different operation types?
Corporate, Franchise, Independent
What is a true statement about independent hotels?
a. Independent hotels are not affiliated with a specific chain
b. Chain hotels outnumber independent hotels in every country of the world
c. Independent hotels are mostly luxury class hotels in Urban Locations with more than 150 rooms
d. Independent hotels may never be managed by an outside entity
a. Independent hotels are not affiliated with a specific chain
Which is a true statement regarding geographic categorization?
a. STR geographic categories are limited to North America
b. STR uses the UNWTO definitions when it comes to recognizing countries
c. General managers of hotels do not need o know geographic categories
d. There is another name for Markets outside the U.S.
c. General managers of hotels do not need to know geographic categories
Which is a true statement regarding markets?
a. Markets include hotels that are in big cities, not rural areas
b. A country would never have more than 100 markets and never has less than 2 markets
c. No market will ever cross country boundaries
d. There is another name for Markets outside the U.S.
c. No market will ever cross country boundaries
What is the descending order of geographic area?
Continent, Sub-continent, Country, Market, Tract/Sub-Market
Which 2 geographic categories are the most important for a hotel GM?
Market and Tract/Sub-Market
Markets and tracts are created based on what two determining factors?
Number of hotels and participation
Which is a true statement regarding tracts?
a. Tracts are referred to as Sub-Markets outside of North America
b. Tracts are never used to represent a it in rural markets
c. Tracts are geographic sub-divisions of a Market
d. A country will never have more than 100 tracts
a. Tracts are referred to as sub-markets outside of North America
Changes to how Markets and Tracts are geographically defined are made how often?
Annually
Which 2 non-geographic categories are the most important for a hotel GM?
Scale and class
How many scale categories are there compared to Class categories?
7 scale categories and 6 class categories
Which one of the following is NOT a location used by the hotel industry?
a. airport
b. Suburban
c. Oceanfront
d. Urban
c. Oceanfront
Benchmarking in the hotel industry takes place at what level?
a. Property level for an individual hotel versus their comp set
b. Corporate level for a hotel company, for example one brand versus others
c. Geographic level for tourism organizations, for example city versus comparable cities
d. All of the above levels
d. All of the above levels
Comp sets are used for many purposes in hotel operations, which of the following is one of thee purposes?
a. Comp sets can be used to aid the sales and marketing departments in determining the effectiveness of various pricing strategies
b. Comp sets can be used in management contracts for performance requirements
c. Comp sets can have an effect on a general managers compensation
d. All of the above are examples of how comp sets are used
d. All of the above are examples of how comp sets are used
The four key considerations when creating a comp set are?
Participation, proximity, pricing and product
When can a comp set be created?
While the hotel is under construction
Who creates a comp set for a chain hotel?
It is a joint effort involving many stakeholders
What is the average number of hotels in a comp set?
Between 5 and 6
Which is a valid rule related to creating a comp set?
a. Comp sets must include 5 or more hotels
b. No single property or chain can account for more than 50% of the total participating room supply of a comp set
c. No single company can account for more than 75% of the total participating room supply of a comp set
d. When percentages are calculated, the rooms of the subject hotel, as well as the same chain and parent company are excluded
d. When percentages are calculated, the rooms of the subject hotel, as well as the same chain and parent company are excluded
What is a reverse comp set?
Properties that name your hotel in their comp set
When can a competitive set be changed?
At any time, although many wait until the beginning of the year, rule of 2
The definitions of supply, demand and revenue used by STR and others in the lodging industry are taken from what source?
Uniform Systems of Accounts for the Lodging Industry
Which statement is true regarding raw data that is submitted by STR?
a. A small amount comes in the form of raw data files
b. Most data is entered online
c. There are limited error check programs
d. The majority of data is exported from the hotel company systems
d. The majority of data is exported from the hotel company systems
Which is true regarding the type of performance data (Supply, Demand, Revenue) that STR receives?
a. Daily only
b. Daily and monthly only
c. Daily, weekly, and monthly
d. Daily, weekly, monthly and quaterly
b. Daily and monthly only
You receive your monthly STAR and find that it includes weekday and weekend performance, what days are included in "weekday"?
Sunday thru Thursday
In which of the following situations will occupancy increase?
a. Supply increase 10% and demand increases 5%
b. Supply decreases 5% and demand increase 10%
c. Supply increases 5% and demand decreases 5%
d. None of these situations will result in an occupancy increase
b. Supply decrease 5% and demand increases 10%
When you receive your STAR report, your ADR for the month was $100 an the comp set ADR was $90. What can you tell?
a. You had the highest ADR of all of the members of the comp set
b. Your ADR was $10 higher than the average of all the members of the comp set
c. There was 1 hotel that had a higher ADR than you
d. Your RevPAR will be higher than the RevPAR of the comp set
b. Your ADR was $10 higher than the average of al the members of the comp set
When you receive your STAR report you see that your ADR rand for the current month is "3 of 7". What do you know?
a. The ADR for your hotel is higher than the comp set ADR
b. Your hotel has the 3rd highest ADR among the members of your comp set
c. Your hotel had an ADR higher than three other members of your comp set
d. The ADR of your hotel was higher than the comp set ADR for 3 of the last 7 months
b. Your hotel has the 3rd highest ADR among the members of your comp set
When talking about US Industry Data, which is an accurate explanation of "modeled data"?
a. US Industry data is based only on the actual data from reporting hotels
b. Modeled data does not help compensate for the non-participating low-end independent hotels in the US
c. Modeled data does not help increase the accuracy of US industry data
d.Modeled data is derived by using actual data from reporting hotels to estimate performance for non-reporting hotels
d. Modeled data is derived by using actual data from reporting hotels to estimate performance for non-reporting hotels
What is the period of time a hotel must close completely due to renovation in order to be considered a Close and Reopen?
One month or longer
Hotels and hotel companies outside the U.S. may receive STAR reports in what currency?
Local currency, U.S. dollars or a third currency (the company gets to decide)
Modeled data is used in which country?
U.S.
How are exchange rates handled when it comes to multiple time periods, ex. YTD, Running 3-month or Running-12 month?
a. The exchange rate on the first month issued for all months
b. Raw data is aggregated using the exchange rate for each individual month, then the KPIs are calculated for the time period
c. The exchange rate for each day is used
d. The exchange rate for the last month is used
b. Raw data is aggregated using the exchange rate for each individual month, then the KPIs are calculated for the time period
Which one of the following is a non-geographic category shown on the STR report?
a. location
b. type
c. market
d. class
d. class
What info is never included on a STAR report?
a. Performance data for individual competitors
b. Performance data for an industry segment relevant to the subject hotel
c. The names of hotels included in the subject hotels comp set
d. Index numbers and index percent changes
a. Performance data for individual competitors
Which statement is true regarding the format and timing of a STAR report?
a. They are normally generated in excel
b. If you change data on a STAR report, all of the related values will recalculate, since there are embedded formulas
c. There are no graphs on the report
d. Weekly STAR reports are generated on Monday
a. They are normally generated in excel
Which statement is true regarding the industry data that a hotel may see on a STAR report?
a. North America Hotels will see industry data for Market, Market class, tract and tract scale
b. North America hotels will see data for a single industry segment
c. Non-North America hotels will not see nay industry segment data
d. North America and Non-North America hotels see the same exact tabs on the STR report related to industry data
a. North America Hotels will see industry data for Market, Market class, tract and tract scale
The "Daily Data for the Month" tab on the weekly STAR report displays what info?
a. Provides a running MTD total based upon daily data
b. Show KPIs for the subject property and the competitive set for each day of the prior month
c. Displays graphs of index values for every day of the current month
d. All of the above are displayed on this report
d. All of the above are displayed on this report
which of the following is NOT a valid way to select hotels for a trend report?
a. Specify an industry segment such as a country, market or tract
b. Specify a query based upon variables such as open date, number of rooms, or meeting space
c. Obtain a participation list of hotels and specify individual properties
d. Ask STR to select the best performing hotels in an area
d. Ask STR to select the best performing hotels in an area
Trend reports are available in which currency?
Any currency
What are the four phases for active hotel projects in the pipeline?
In-construction, Final planning, Planning and pre-planning
Which is a true statement regarding the changes in Existing supply tab of a pipeline report?
a. The construction pipeline tab lists each hotel under construction or in planning with detailed project info
b. Some projects are identified as "Unaffiliated", which can mean that the hotel will be an independent or the chain has not been decided upon yet
c. Often times owner and architect info are provided for a project
d. All of the statements above are accurate
d. All of the statements above are accurate
Which is not a true statement regarding a destination report?
a. An organization can create a personalized report with data relevant to their needs
b. The report helps the organization "keep their finger on the pulse" of the local hotel industry
c. There is a variety of templates that an organization can choose from
d. Reports are available only on a monthly basis, but not weekly
d. Reports are available only on a monthly basis, but not weekly
What statement is true about a Multi-segment tab of a Destination report?
a. you can select several industry segments and their data will appear
b. You can select "comparable markets" to track the performance of other cities that you feel you compete with
c. The tab will display numbers for two different time periods, such as Current Month and YTD
d. All of the statements above are true
d. All of the statements above are true
Which of these is NOT used to calculate RevPAR?
a. Occupancy
b. Total rooms revenue
c. Total number of rooms available
d. ADR
e. Total revenue
e. Total Revenue
It is common for some markets to have hotels in their comp set reporting in different currency.
TRUE
When dealing with data sets using more than one currency, STR uses which exchange rate updates?
a. Daily and monthly from Oanda
b. Monthly only, from Oanda
c. Annual only, from Oanda. Using anything else would be too complicated
A. Daily and monthly from Onada
For internal analyzing purposes, how might a corporation form aggregates from their raw data files?
a. By brand
b. By state and/or sales region
c. By hotel type (extended stay, full service)
d. All of the above
d. All of the above
It is necessary for STR to "model" data of non-participating hotels to increase he accuracy of industry data. How does STR calculate these figures?
a. STR uses averages of each entire chain scale
b. Data is smoothed by finding weights of each brand. Modeling is not performed on independent hotels
c. Data for non-participants is estimated based on participating hotels that are closest to the non-participating based on geography and price level
c. Data for non-participants is estimated based on participating hotels that are closest to the non-participating based on geography and price level
Supply, demand and revenue are the combined values of each hotel in a set, while occ, ADR, and RevPAR are based on the aggregated supply, demand and revenue.
TRUE
How is the methodology of "Industry" data different from "Comp Set" data?
a. comp set data only uses averages, while Industry data actually shows individual properties data
b. Industry data uses modeled data, while comp set data only comes from participating hotels
c. Industry data collects and uses data annually from hotels that don't otherwise participate with STR
b. industry data uses modeled data, while comp set data only comes from participating hotels
How is occupancy % calculated?
(rooms sold/rooms available)*100
How do you calculate ADR?
Room Revenue/Rooms Sold
How do you calculate RevPAR?
Room Revenue/Rooms available
How are the various metrics calculated when it comes to multiple time periods?
a. metrics for multiple time periods are calculated by applying weights in a depreciating fashion the further back in time they go
b. Metrics for multiple time periods are based upon the aggregated raw data for the time periods
c. Multiple time periods are calculated by adding, then dividing by the number of days
b. Metrics for multiple time periods are based upon the aggregated raw data for the time periods
How does STR get data from hotels?
a. Individual hotels can submit data on a daily, weekly or monthly basis
b. Corporations can submit data fro each of their hotels in one master file on daily, weekly or monthly basis
c. both a & b
c. both a & b
How is building a comp set before a hotel opens beneficial?
a. If you create the set before the hotel opens, then the STR sufficiency guidelines do not apply
b. Since there is no "subject" property, you can see each hotel's individual data
c. There is no benefit to having a comp set before a hotel opens
d. The set can be used with other assumptions to forecast future performance
d. the set can be used with other assumptions to forecast future performance
The sales and marketing team uses comp sets
TRUE
Which of the following is a reason to consider changing a comp set?
a. New hotels enter the market
b. Your hotel completes a substantial renovation
c. Your hotel completes a conversion
d. All of the above
e. None of the above
d. All of the above
How does including a property with substantially lower occ, ADR, and RevPAR in a comp set affect the data?
a. It inflates the subject property's performance indices
b. It deflates the subject property's performance indices
c. It causes the set to be insufficient, thus no data can be shown
d. It automatically causes the subject property's own performance to decline
a. It inflates the subject property's performance indicies
Which of these is a qualitative feature considered when choosing a comp set?a. Age
b. Distance from the subject property
c. Square feet of meeting space
d. style
d. style
Call-arounds are legal
FALSE
Aggregating means:
a. Changing a comp set
b. Temporarily removing a property from a comp set
c. Finding averages from several sets of individual data
d. Isolating a single property's data
c. Finding averages from several sets of individual data
If a hotelier wishes to change a comp set:
a. sufficiency rules don't matter because there is already an existing set
b. They must add or remove properties: they cannot do both at the same time
c. They must change the entire set
d. They must change at least two hotels at a time
d. They must change at least 2 hotels at a time
Which of these is NOT a stakeholder when choosing a comp set?
a. Management company
b. Brand company
c. Sales and marketing team
d. Housekeeping team
d. Housekeeping team
STR's 40/60 comp set sufficiency rule is based on:
a. the number of rooms each hotel has, including the subject property
b. The number of rooms each hotel has, excluding the subject property
c. The properties as a whole
d. The number of hotels in each of the different brands within the comp set
b. the number of rooms each hotel has, excluding the subject property
How does group/transient and leisure/business mix affect which hotels are chosen for a comp set?
a. A hotel directly adjacent from a large convention center probably won't place another hotel that is right next to the same convention center because they would have very high percentage of group business
b. A resort hotel probably won't include an airport hotel because their leisure/business mix is likely very different
c. Guest mix does not matter as long as the hotels share a similar occ.percentage
b. A resort hotel probably won't include an airport hotel because their leisure/business mix is likely very different
Which of the following ad hoc reports are most useful when analyzing a potential comp set?
a. Market forecast and STAR report
b. STAR report and Destination report
c. Trend report and Market forecast
d. Trend report and STAR report
d. Trend report and STAR report
Which metric is helpful when gauging the strength of a comp set?
Nameback %
Which of the following can affect the overall strength-ability of a comp set?
a. Supply, location, positioning, performance
b. Brand, number of rooms, age, quality
c. Independent hotels cannot achieve relatively strong comp sets
d. All hotels can achieve very strong comp sets
a. supply, location, positioning, performance
The following is true regarding the strength of comp sets:
a. Comp sets grow stronger over time
b. The larger the comp set the stronger it is
c. The strength of a comp set fluctuates over time
c. the strength of a comp set fluctuates over time
How does benchmarking against a weak comp set affect a hotel?
a. Might prompt poor decisions such as pricing, staffing, marketing, investing, and asset management
b. Benchmarking against a weak comp set makes the subject property stronger
c. Causes revenue to be lost as a result of decreased demand and ADR
a. might prompt poor decisions such as pricing, staffing, marketing, investing, and asset management
Comp sets that include properties of substantially higher quality , ADR, Occ, and/or RevPAR that the subject property cannot be considered weak.
FALSE
What affects the strength of a hotel's RevPAR within their comp set?
a. The range of RevPAR within their comp set
b. Only comp set occ. levels
c. Only market demand levels
d. The difference between the property in the comp set with the highest ADR and the property with the lowest ADR
a. The range of RevPAR within their comp set
Which hotel is most likely going to have more than one comp set?
a. A 50 room limited service highway location motel
b. A 100 room full service airport location hotel
c. A 150 room resort location conference hotel with a small water park
c. A 150 room resort location conference hotel with a small water park
How do call-arounds and/or price fixing affect competition between hotels?
a. It decreases competition between hotels
b. It increases competition between hotels, because it puts a focus on improving quality
c. call-arounds and/or price fixing does not affect competition between hotels
a. It decreases competition between hotels
How does price fixing affect consumers?
a. It increases quality and decreases cost
b. It increases quality and increases cost
c. It decreases quality and increases cost
d. It decreases quality and decreases cost
c. it decreases quality and increases cost
When appropriate, how does having multiple comp sets benefit a hotel?
a. The hotel can optimize pricing, operations, service and marketing towards specific guests at specific times for specific demand purposes
b. the hotel will have more competitors in order to steal demand share from
c. The hotel will be able to make higher revenue
a. The hotel can optimize pricing, operations, service and marketing toward specific guests at specific times for specific demand purposes
How might a comp set act as a microeconomic indicator?
a. Fluctuations in the various performance metrics of a comp set can be tracked over time to show how your competitors are reacting to macro-level and/or micro-level events. These fluctuations can also indicate changes for the future and help make forward-looking decisions
b. A comp set is too small of a sample to act as a microeconomic indicator
c. Fluctuations in the various performance metrics of a comp set will always decrease sharply right before a nationwide recession
d. Fluctuations in the various performance metrics of a comp set will always increase sharply right before a nationwide rebound
a. Fluctuations in the various performance metrics of a comp set can be tracked over time to show how your competitors are reacting to macro-level and/or micro-level events. These fluctuations can also indicate changes for the future and help make forward-looking decisions
What is the analytical use of benchmarking against tracts in addition to markets?
a. Bench marking against tracts allows a more broad and generalized set of data to compare performance than markets
b. Tract is a classification assigned to hotels that have a specific amount of meeting space which makes it easy to bench mark against hotels with similar meeting space
c. Because tracts are smaller areas within markets, tracts can be focused around demand generators such as downtowns, airports and sports arenas
c. Because tracts are smaller areas within markets, tracts can be focused around demand generators such as downtowns, airports and sports arenas
There are more markets than tracts
FALSE
Why is it important for STR to categorize hotels by geography,prices, class, size, location, etc?
a. Having clearly defined STR hotel classifications for several different aspects of a hotel's composition creates more possibilities for benchmarking and analyzing data along specific guidelines
b. Hotels can classify themselves however they want, which makes the STR hotel classification system difficult to clearly bench mark against
c. It is not important for hotels to classify themselves several different ways because the STAR report only compares the property against their comp set
a. having clearly defined STR hotel classifications for several different aspects of a hotel's composition creates more possibilities for benchmarking and analyzing data along specific guidelines
What is the difference between class and scale?
Scale includes 7 groups, with independents creating their own group Class has 6 groups with independents included
A hotel chain is part of a larger parent company
TRUE
Courtyard, Days Inn and Four Seasons are examples of parent companies
FALSE
A single hotel can have a management company, ownership company, asset management company and additional membership and marketing group associations
TRUE
For daily and weekly STAR reports, which of the following is true?
a. Daily and weekly STAR reports use both a running 28-day and running month figure
b. Daily and weekly STAR reports us a running monthly figure. Using anything else would be too confusing when comparing with other monthly reports
c. Daily and weekly STAR reports use a running 28 days figure instead of a running monthly figure in order to get an historical 4 days for each day of the week. Using the entire month might return an uneven number for each week day
C. Daily and weekly STAR reports use a running 28 day figure instead of a running monthly figure in order to get an historical 4 days for each day of the week. Using the entire month might return an uneven number for each week day
A group is defined as:
A block of 10 or more rooms
An index below 100% is always a bad indication.
a. true, it means that the hotel achieved less than its fair share
b. False, an index above 100% is always a bad indication
c. True, it means that the hotel has not reached 100% of its capabilities
d. False an index below 100% is not necessarily a bad indication as long as the index is improving over time
d. False, an index below 100% is not necessarily a bad indication as long as the index is improving over time
What is the ideal segmentation for a property?
a. Different for each property and depends on the efficiency of each segment's ADR and demand levels
b. Have even demand segments within the property
c. Use the same strategy for each segment
a. different for each property and depends on the efficiency of each segment's ADR and demand levels
What role does the response rate of your comp set play in the accuracy of your data?
a. For daily and weekly reports, which use daily or "preliminiary" data, the response rate of your comp set is crucial for the accuracy of your comp set
b. The response rate of your comp set does not affect the accuracy of your data, because the data is always submitted correctly every day by each property
c. The response rate of your comp set varies and makes it impossible to base action from your reports
a. for daily and weekly reports, which use daily or "preliminary" data, the response rate of your comp set is crucial for the accuracy of your comp set
How are the comp set rankings calculated?
a. the amount of revenue they generate in the given time period
b. How quickly they submit their data
c. By metric, from highest to lowest
c. By metric, from highest to lowest
What defines a hotel's class?
a. The amount of amenities and services the hotel offers, as well as it's décor and price
b. Purely by its average ADR
c. No clear concise definition for hotel classes; they are assigned by each individual property
b. Purely by its average ADR
The only way to increase RevPAR is to increase ADR
FALSE
Why is it important to compare daily data on monthly STAR reports with daily data from weekly STAR Reports?
a. Monthly STAR report data undergoes stringent data cleansing processes that check for abnormalities; daily data in weekly and daily STAR report does not
b. It is important to compare, because daily data on monthly STAR reports shows much more data and gets more granular than daily data on daily and weekly STAR reports
c. Daily data on daily, weekly, and monthly STAR reports should always match-up exactly the same. if there are differences, then there are problems with your STAR report
a. Monthly STAR report data undergoes stringent data cleansing processes that check for abnormalities; daily data in weekly and daily STAR reports does not
How can you use the daily data tab on the monthly STAR report?
a. You can compare the same tab over several months to find trends for specific days of the week
b. you can find long term and short term daily trends
c. You can track when you hotel is winning or losing occ. or ADR
d. All of the above
d. All of the above
Contract bookings are included in group segmentation
FALSe
Contract bookings are:
a. blocks of 5 or more rooms
b. Any time a group or event signs a contract for a room block
c. Rooms sold at rates stipulated by contracts including airline crew and permanent guests
c. Room sold at rates stipulated by contracts including airline crew and permanent guests
It is possible to have over 100% ADR index while you and your comp set are experiencing an overall decline in ADR
TRUE
The response tab shows when each property in your comp set reported data
FALSE
There will be a separate response tab for total month, daily and segmentation tabs
FALSE
The same sufficiency guidelines that apply to choosing comp sets applies to the property data used in ad hoc reports
TRUE
Trend reports can be loaded with data from any number of hotels from any industry segments and countless other variables and use data going back as far as:
a. only 5 years
b. up to 20 years (based on participation)
c. As far back as 50 years
d. All the way back as far as 100 years
b. up to 20 years
Which of the following cannot be ordered as an ad hoc report?
a. Trend report
b. Pipeline Outlook
c. Forecast
D. STAR report
e. all of the above can be ordered on an ad hoc basis
e. all of the above can be ordered on an ad hoc basis
Which of the following is NOT a reason to order a trend report?
a. When forecasting
b. when creating a business pro forma
c. When analyzing how a select data set behaved before, during and/or after historical events
d. When reviewing the number of hotel rooms expected to open in the near future within your market
d. When reviewing the number of hotel rooms expected to open in the near future within your market
What forecasting method is commonly used by analysts?
a. using the average forecast of several different forecasting agencies
b. always using the most positive forecast available
c. always using the most conservative forecast available
d. Changing the forecast used every week, because it is important to use the most recent forecast possible
a. using the average forecast from several different forecasting agencies
The HOST report shows what kind of data?
Profit and Loss
In a pipeline report, what is the difference between final planning and pre planning?
a. Hotels in pre-planning have not secured financing, while hotels in final planning have
b. hotels in pre-planning have only been talked about; no real effort has been put into them
c. Hotels in pre planning are typically going to be smaller hotels, while hotels in final planning are typically going to be independent resorts
d. Hotels in final planning have nearly finished construction and only need to finish planning the decor
a. hotels in pre-planning have not secured financing, while hotels in final planning have
It is possible to order census info on any property with info such as name, addresses, phone number, meeting space, rack rates, management company, etc.
TRUE
You can only order census data from hotels in your market
FALSE
A pipeline report does NOT show
a. new build hotels entering the market
b. conversions of existing hotels
c. room additions to existing hotels
c. room additions to existing hotels
What is the difference between using standard weight and portfolio weight of a corporate raw data file?
a. Standard weight applies the same weight to each hotel while portfolio weight applies weights relative to the actual valuation of each property
b. Portfolio weight applies the same weight to every property regardless of size, profit, or valuation, because this makes it easier to track progress of hotels in the same portfolio.
c. standard weight is the only weight used in the hotel industry in order to create standard for growth analysis industry-wide
a. Standard weight applies the same weight to each hotel while portfolio weight applies weights relative to the actual valuation of each property
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