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Questions and Answers
Defined as the cost of a particular food item in refation to the price for which it is sold.
Defined as the cost of a particular food item in refation to the price for which it is sold.
Food cost
Sleeping rooms at a hotel are considered a perishable commodity. Each night, when a room goes unsold. the hotel foses that opportunity to ever sell it again
Sleeping rooms at a hotel are considered a perishable commodity. Each night, when a room goes unsold. the hotel foses that opportunity to ever sell it again
Opportunity cost
Defined as guests who are staying at the hotel and will, for convenience and lack of other options, utilize the outfets in the hotel.
Defined as guests who are staying at the hotel and will, for convenience and lack of other options, utilize the outfets in the hotel.
Captive Audience Quotient
location types apply to hotels located in dense urban areas. This doesn't necessarily mean the city center, but most often does.
location types apply to hotels located in dense urban areas. This doesn't necessarily mean the city center, but most often does.
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is a locally funded, or privately owned structure that caters to large groups and conventions for meetings of all kinds.
is a locally funded, or privately owned structure that caters to large groups and conventions for meetings of all kinds.
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is one who is more likely to be interested in a product or service than the general population due to personal interest or need.
is one who is more likely to be interested in a product or service than the general population due to personal interest or need.
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are traditionally those located in an area that makes them the first practical stop for an international flight coming into a country.
are traditionally those located in an area that makes them the first practical stop for an international flight coming into a country.
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location type is perhaps the most common. hotels are generally
considered to be those that do not fit into the other three location types.
location type is perhaps the most common. hotels are generally considered to be those that do not fit into the other three location types.
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Flashcards
Food cost
Food cost
The cost of a food item relative to its selling price.
Opportunity cost
Opportunity cost
The lost chance to sell an unsold hotel room, impacting potential revenue.
Captive Audience Quotient
Captive Audience Quotient
Guests at a hotel who will use its services due to convenience.
Downtown
Downtown
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Convention center
Convention center
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Receptive customer
Receptive customer
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Gateway cities
Gateway cities
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Suburban
Suburban
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