Which Tool Clarifies How a Hotel Will Add Value for Guests,employees

question 16

Multiple Choice

Which tool clarifies how a hotel will add value for guests,employees and others?

• A) Service level
• B) Culture
• C) Vision
• D) Mission

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Definitions:

Inelastic Demand

A market situation in which the demand for a product does not significantly change with its price increase or decrease.

Total Revenues

The entire amount of income generated by a company from its business activities, before any expenses are subtracted.

Fixed Costs

Costs that do not change with the level of output or sales, such as rent, salaries, and loan payments.

Variable Costs

Costs that change in proportion to the level of output or activity.