When Business Travelers Began to View Holiday Inn as Outdated

question 158

Multiple Choice

When business travelers began to view Holiday Inn as outdated with old decor, the management team remodeled many properties and terminated contracts with proprietors that did not meet the new standards. This is an example of:

• A)reinforcing the current image.
• B)developing a new image.
• C)rejuvenating an image.
• D)changing an image.

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Definitions:

Canadian Dollar

The official currency of Canada, symbolized as CAD and often referred to as the "loonie."

Exchange Rates

The rate at which one currency can be exchanged for another, playing a critical role in international trade and finance.

Inventory Value

The cost or market value of all the goods and materials held by a company for the purpose of resale.

Purchasing Power Parity

An economic theory that compares different countries' currencies through a "basket of goods" approach to assess relative currency value.