Prior to Investing in Lodging Enterprises, Data Should Be Gathered

question 10

Multiple Choice

Prior to investing in lodging enterprises, data should be gathered concerning the:

• A) traveling and vacation habits of the prospective guests.
• B) number of rooms to be provided.
• C) services which the hotel will offer.
• D) prices to be charged per room.
• E) how many dining facilities should be offered.

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Definitions:

MAXMINCON Principle

A methodological principle designed to maximize applicable information, minimize cost, and control for unwanted variation in research or operational settings.

Overreliance

Excessive dependence on something or someone, often to the point where it becomes detrimental.

Knowledge Base

The accumulated information, understanding, and skills that an individual or organization possesses.

Bubble Hypothesis

The theory suggesting that individuals or groups can become isolated in their own social or cultural bubbles, leading to limited exposure to differing perspectives.