3860 Final Exam Review 2023

Which phase of the Hotel Life Cycle might encourage a renovation phase?

Who focuses on growing RevPAR, NOI and EBITDA as they are paid a % of revenue based on hotel profitability

Which of the following are pros of a REIT? Select all that apply

CSR can reduce

Equity REITs earn income through....

What does LEED stand for?

A Hybrid REIT is a combination of an Equity and Mortgage REITs

Preparation and planning is critical to any hospitality risk, whether insurable or not

What are VOCs?

Name 1 of the 4 Primary phases of the asset management cycle

REITs are generally perceived as being

The cost approach is an estimate of the current value of the land, replacement cost of buildings and any depreciation

A REIT Stands for

Brands typically provide marketing support, on-property technology and guests, and guidelines for furnishings and decor

Hotel Asset Managers should complete which analysis when deciding on an aquisition

In the US the governing body that watches for fraudlent REITs is called...

Why do we use LEED?

Why is brand reputation an important risk to address proactively?

Hotel Asset Managers need to be excellent at analying various forms of data

Which of the following characteristics of a property increase its risk level?

Which phase of the hotel life cycle results from very strong occupancy levels

The most popular valuation technique used for hotels is the

Which type of renovation seeks to gut a building and upgrade all systems

Which type of renovation replaces non durable finishes like furniture around the 6 year mark?

Which one is NOT part of the Triple Bottom Line?

LEED

Which type of renovation involves changing the physical layout and upgrading major technologies

How can a hotel become carbon neutral? Select all that apply

What other concerns a hospitality organisation should have in relation to technology?

Cyber threats are a modern risk for hotels to consider

What does being carbon neutral mean?

Name 1 of the 5 criteria in developing an Asset Management Plan (AMP)

Mortgage REITs earn in come through...

If a 60-room budget hotel owner has a franchise contract, who is probably managing the hotel?

______sign agreements with hotel brands for access to benefits like brand standards, marketing

What action(s) can an Asset Manager take to increase profitability:

CapEx or Capital Expenditure is part of the owner's initial and ongoing financial commitment to a hotel asset

Reviewing market position is part of the renovation process

When possible, hotels should use low VOC products to reduce off-gassing

Guests are attracted to hotels that are "green"

What fundamental exercises does an AM complete to contribute to the goal of increasing the value of an asset

When should ethics be practiced?

Following proper sanitation guides can affect your hotel valuation

In disposing of the asset, what selling factor(s) must the AM consider?

Which of the following is considered an "Essential Business Function"?

Which of the following is NOT a quadrant of Risk Analysis?

Treating customers and workers fairly is part of

What is the minimum % that REITs must pay of taxable income as dividends

Which type of renovation would be considered a Special project?

Hotels are vulnerable to financial risks due to factors like seasonality and world events, so they should have a...