HTM Exam Review Chapters 16-24

Documents accepted for DOMESTIC travel

A brand distinguishes one business from another.

If 14,387 ppl visited the hotel website & 976 ppl booked a room the conv. rate is: 976 ÷ 14,387 = .067839 × 100 = 6.78%

NO person, place or thing owns the ocean.

M.I.C.E. stands for

Three main career development for your employees include:

Many factors affect demand for hospitality industry products: events, holidays, even weather and climate.

In cruises, an example of DIRECT impact is the people that arrive at the destination and spend money.

Where the cruise stops is called "Port of Call"

Oversees the sales department, set goals and formulates action plans

SEO stands for Search Engine Optimization

A mission statement is a short statement that summarizes the companies beliefs, values, and reason for existence.

STR reports are the industry standard and the best tool available for determining how your hotel is performing.

Different types of attractions:

Documents accepted for INTERNATIONAL travel

Port cities experience direct and inderect impact from cruises.

Example of large scale economic impact

STR is a company that provides data benchmarking, analytics, and marketplace insights for the global hospitality sectors

Motivation to travel can be:

In cruises, an example of INDIRECT impact is the tax increase due to jobs created and products sold.

In Pestel analysis an example of LEGAL Analysis is: ride sharing services illegal at some countries.

A balance sheet is a report that looks at the overall financial position of the business at any given time.

In Pestel analysis an example of Social Analysis is: LGBTQ visitors feeling unwelcome at the destination

Geographic

Federal Aviation Administration (FAA) is responsible for

An example of INFRASTRUCTURE is: having good roads and water lines

S.M.A.R.T. Goales ensure goals that make sense for the company and employees. The characteristics are:

(SOP) stands for service operating procedures

The SWOT analysis helps understand the business and find ways to improve it.

It's not important to have a good infrastructure because people will travel anyways.

In Pestel analysis an example of Environmental Analysis are: natural disasters and climate

Competitive set is a group of hotels that are seen as direct competitors in location and type of hotel.

Is the second in command of the department and may step in if the director is out of the office or on vacation.

The different market segmentations: demographic, psychographic, geographic, and behavioral.

In the SWOT analysis and example of W (Strengths)

Market segmentation occurs when a market is divided into smaller groups based on different characteristics.

Yield management is the process of using forecasting information to adjust prices to reflect that demand.

In the SWOT analysis and example of S (Strengths)

Maritime Law consists of internationally accepted laws and regulations necessary for nautical travel.

Revenue Management: technique used to predict guest demand & optimize product availability & price to maximize revenue.

Legalized casinos are an example of gambling.

When creating a business plan you must have the following elements:

Income statement is a document that shows the company’s revenue and expenses for a specific period of time

In the SWOT analysis and example of T (Strengths)

Sales department team members must be good at persuading and encouraging guests to make a purchase.

The Standard Operating Procedures (SOP) are easy to undersand, step by step instructions for each position in business.

Careers in Casinos:

Forecasting is understanding supply and demand in the hospitality industry

A Real ID has a star in the upper right corner of the license.

Flags of Convenience allow cruise lines to register ships in different countries than where they're from.

In the SWOT analysis and example of O (Strengths)

PESTEL stands for

Prospecting is the process of identifying people or groups that are likely to use a business or service.

The brand is not considered important in a business

Key performance indicators (KPIs) are numbers, or percentages, that show how a business is performing.

PESTEL analysis is one way to analyze a destination.

Travel is NOT important for the the global economy

The overall goal of the sales department is to increase sales.

What are examples of clubs:

TSA stands for

This refers to who dominates the market share (i.e., who sells the most).

Sells the destination as a whole, typically targeting large groups such as associations and conventions.

Examples of regulations for rides (ex. theme park rides)

OTA stands for Online Travel Agencies

Legalized gaming does NOT support the economy.

Psychographic

Small scale economic impact can be seen on how small business rely on tourism to be profitable.

In Pestel analysis an example of Economic Analysis is: the impact of different markets around the world

Behavioral

SEO increases visitors from search engine by enhancing the website design and content.

Clubs are open to the general public.

Methods of transportation

Brand equity is the value of a brand.

A vision statement describes how the company will help the world in general.

STR offers information about the three main KPIs in the lodging industry

Gaming comission is a regulatory organization that oversees the gaming industry within their state.

Conversion rate is the number of conversions divided by the number of visitors.

Demographic

This refers to what brand is consumers’ first choice for a particular product.

Job positions in the sales department

The values of a company dictate behavior in and out of the workplace.

Cost analysis is a way to estimate the strengths and weaknesses of different options when making a business decision.

Some countries require a VISA to enter.

Handles the office duties of the department, including answering emails, telephone calls, and other inquiries.

This refers to what brand customers think of when a product is mentioned

In Pestel analysis an example of Political Analysis are: protests or riots at the destination

(IMO) International Maritime Organization is responsible for:

The Human Resources is responsible fo all federal, state and local laws & they need to make the employees aware of them.

Select the laws that affect H & T

What are the different SOP's?