QUESTION 22

Benchmarking includes all the following except:

		Identifying replacements for the HVAC system
		Identifying a propertys competitive strengths and weaknesses.
		Developing and implementing strategies for increasing market penetration.
		Reviewing expense control measures and increasing profitability.

QUESTION 24

All the following are potential risks during construction, except:

		Overselling of guest rooms
		Financing costs
		Additional supply
		Transaction market

QUESTION 26

Hotels are classified as Special Purpose Entitys. This means:

		They are difficult to reposition into another business venture.
		They are built to last 100 years.
		They collect yearly leases from its tenants.
		They can easily be constructed to meet many different brand standards.

QUESTION 27

1. In this stage of the market cycle there is low risk and high opportunity for real estate development.

   		Depression
   		Recession
   		Optimism
   		Euphoria

QUESTION 28

Comparing a hotels occupancy in January of 2019 against the competitive set during the same month best describes:

		Variance Analysis
		Comparative Analysis
		Cost Analysis
		KPI Analysis

QUESTION 29

This measures a hotels performance relative to an aggregated grouping of hotels

		Index
		Capitalization Rate
		Debt Service
		Net Operating Income