HTM Exam Review Chapters 16-24

Port cities experience direct and inderect impact from cruises.

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

(SOP) stands for service operating procedures

Documents accepted for DOMESTIC travel

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

Travel is NOT important for the the global economy

In the SWOT analysis and example of W (Strengths)

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

Three main career development for your employees include:

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

What are the different SOP's?

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

Clubs are open to the general public.

Where the cruise stops is called "Port of Call"

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

In the SWOT analysis and example of S (Strengths)

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

Geographic

Some countries require a VISA to enter.

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

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

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

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

Select the laws that affect H & T

Behavioral

PESTEL analysis is one way to analyze a destination.

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

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

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

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

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

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

Example of large scale economic impact

Federal Aviation Administration (FAA) is responsible for

Careers in Casinos:

Motivation to travel can be:

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

Psychographic

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

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

PESTEL stands for

OTA stands for Online Travel Agencies

Different types of attractions:

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

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

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

(IMO) International Maritime Organization is responsible for:

TSA stands for

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

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

Job positions in the sales department

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

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

Methods of transportation

What are examples of clubs:

Legalized gaming does NOT support the economy.

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

Demographic

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

Documents accepted for INTERNATIONAL travel

Oversees the sales department, set goals and formulates action plans

In the SWOT analysis and example of O (Strengths)

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

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

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

In the SWOT analysis and example of T (Strengths)

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

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

Brand equity is the value of a brand.

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

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

SEO stands for Search Engine Optimization

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

A brand distinguishes one business from another.

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

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

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

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

M.I.C.E. stands for

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

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

The brand is not considered important in a business

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

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

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

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

Legalized casinos are an example of gambling.

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

Forecasting is understanding supply and demand in the hospitality industry

NO person, place or thing owns the ocean.