CHS Revenue Management & Financial Operations 2

Question 1

What is upselling and cross-selling in hospitality?

Accepted Answer

Upselling offers a premium version of what the guest is buying; cross-selling suggests complementary products or services

Answer

They are the same technique

Answer

These practices are unethical in hospitality

Answer

Only the sales team should upsell

Question 2

How should a supervisor manage inventory to control costs?

Accepted Answer

Regular physical counts, par level maintenance, FIFO rotation, waste tracking, and vendor comparison

Answer

Order maximum quantities for better bulk pricing

Answer

Let staff take leftover inventory home

Answer

Only count inventory annually

Question 3

What is a daily revenue report and what should it include?

Accepted Answer

A report summarizing the day's revenue by department, occupancy statistics, and comparison to budget and prior year

Answer

Only the total cash collected

Answer

A report prepared only at month-end

Answer

A list of guest complaints for the day

Question 4

What is breakeven analysis in hospitality?

Accepted Answer

Calculating the revenue level at which total costs equal total revenue, meaning the operation neither profits nor loses money

Answer

The point when a hotel reaches 100% occupancy

Answer

Calculating when equipment needs replacement

Answer

Determining when to break a lease

Question 5

How should a supervisor handle cash management and POS systems?

Accepted Answer

Ensure proper cash handling procedures, regular till counts, POS training for staff, void/discount authorization protocols, and end-of-shift reconciliation

Answer

Cash management is only the accountant's responsibility

Answer

No controls are needed for electronic payments

Answer

Staff should share cash drawer access freely

Question 6

What is competitive analysis in hospitality management?

Accepted Answer

Monitoring competitor pricing, services, guest reviews, and market positioning to inform strategic decisions

Answer

Competing with colleagues for promotions

Answer

A legal review of competitor contracts

Answer

Comparing building sizes of nearby hotels