For the first week in July next year, a hotels revenue manager has decided the hotel will accept reservations for guests seeking to arrive on July 1st, July 2nd, or July 3rd; but not on July 4th. What is the revenue management stay restriction strategy this revenue manager is using?

INVENTORY CONTROL

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

For the first week in July next year, a hotel’s revenue manager has decided the hotel will accept reservations for guests seeking to arrive on July 1st, July 2nd, or July 3rd; but not on July 4th. What is the revenue management stay restriction strategy this revenue manager is using?

A	CVB
B	CTA
C	MLOS
D	Attrition

Explanation:

Detailed explanation-1: -Reserve close to arrival dates – By allowing the reservations to be taken for a certain date as long as the guest arrives before that date, a property is able to control the volume of check-ins.

Detailed explanation-2: -This is a five stage process. The stages in this process are Data Collection, Segmentation, Forecasting, Optimization, Dynamic Re Evaluation.

Detailed explanation-3: -A minimum length of stay strategy requires that a reservation must be for at least a specified number of nights in order to be accepted. The advantage of this strategy is that it allows the hotel to develop a relatively even occupancy periods. It is common for resorts to use this approach during peak occupancy periods.

Detailed explanation-4: -The discipline of revenue management combines data mining and operations research with strategy, understanding of customer behavior, and partnering with the sales force.

There is 1 question to complete.

MANAGEMENT

BUISENESS MANAGEMENT

INVENTORY CONTROL