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Challenges in the Hospitality Industry

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Questions and Answers

What is a common example of a fixed cost mentioned in the text?

Utilities (correct)

Soap used by guests

Laundry

Part-time staff

What is the impact of having semi-fixed costs on the hotel's break-even point?

Decreases the break-even point

Makes it impossible to calculate the break-even point

Does not affect the break-even point

Increases the break-even point (correct)

How does revenue above certain costs contribute to hotel profits according to the text?

It leads to losses

It increases variable costs

It decreases the break-even point

It makes a significant contribution to profits (correct)

Why is marketing and sales promotion considered very important in the hotel business?

To bring customers to the hotel Signup and view all the answers

How has the hotel's break-even point changed over the years according to the text?

Decreased from 70% to 55-60% occupancy Signup and view all the answers

What characteristic of the hotel business is exemplified by the fact that unsold inventory becomes worthless after midnight?

Perishability Signup and view all the answers

In what scenario would revenue be lost for a hotel with only 100 rooms available?

$25 per room sold tomorrow when only 50 rooms are sold Signup and view all the answers

Why is it essential for hotels to adjust their operations for high-demand periods?

To avoid losing revenue opportunities Signup and view all the answers

'Changing value of fixed location' in the hotel business refers to:

'Re-routing of highway could devastate business' Signup and view all the answers

'Tomorrow, there is Formula 1 event in town, but I can only sell 100 rooms!' illustrates the challenge of:

'Our hotel only has 100 rooms' Signup and view all the answers