Preview Questions Revenue Manager | Role Specific Skill

Question 1: How do you use competitive benchmarking to inform your pricing strategy?

Which action should you take?

Choose only one option

Only adjust pricing based on competitors' rates without considering market demand.

Set prices without considering competitor rates, focusing solely on internal metrics.

Benchmark pricing only once a year and assume it remains constant.

Regularly monitor competitor pricing, market positioning, and promotions to adjust your pricing to remain competitive while maximizing revenue.

Question 2: How do you adjust your forecast to account for significant changes in demand due to local or global events?

Which action should you take?

Choose only one option

Assume demand will increase during events without adjusting for external competition.

Incorporate historical data, competitor trends, and event-specific data to forecast the impact on demand.

Adjust the forecast based on intuition and anecdotal evidence of event impact.

Ignore the events and focus only on historical trends.

Question 3: How do you incorporate market trends, such as new hotel openings or changes in local infrastructure, into your market analysis?

Which action should you take?

Choose only one option

Use only past market performance without adjusting for new competitors or infrastructure changes.

Ignore these factors and focus only on historical occupancy data.

Assume these factors will not impact your market share and ignore them.

Analyze the potential impact of these changes on demand and adjust pricing and inventory strategies accordingly.

Question 4: What is the most effective way to assess market demand and capacity before making pricing decisions?

Which action should you take?

Choose only one option

Evaluate historical trends, competitor pricing, market conditions, and the hotel's current booking pace

Make pricing decisions based only on the hotel's occupancy rate

Use competitor pricing alone to determine the demand

Rely solely on historical booking data without considering market trends

Question 5: How do you incorporate price elasticity into your customer segmentation strategy?

Which action should you take?

Choose only one option

Set prices based solely on cost without considering customer elasticity.

Apply a fixed price increase to all segments, assuming no price sensitivity.

Ignore price elasticity and increase prices uniformly for all segments.

Analyze each segment's sensitivity to price changes and adjust pricing based on their elasticity to maximize revenue.

Question 6: How should a Revenue Manager handle price parity across multiple distribution channels to ensure consistent pricing?

Which action should you take?

Choose only one option

Ignore price parity and focus on the highest-paying channel

Rely on OTAs to set the pricing, without adjusting the hotel's direct website rate

Monitor and adjust pricing across all channels to maintain consistency and avoid undercutting

Set the same price only on the hotel's direct website and offer discounts through OTAs