Hospitality Asset Management
Exam Materials
Course Introduction
Hospitality Asset Management focuses on the strategic and operational aspects of managing hospitality properties such as hotels, resorts, and mixed-use developments. The course covers asset valuation, financial performance analysis, budgeting, capital expenditure planning, contract negotiations, and owner-operator relations. Students learn how to optimize value from hospitality assets by aligning property operations with ownership goals, making informed investment decisions, and responding to changing market dynamics. Emphasis is placed on data-driven strategies, industry benchmarks, and the application of best practices in maximizing both short-term profitability and long-term asset appreciation.
Recommended Textbook
Hospitality Facilities Management and Design with Answer Sheet AHLEI 4th Edition by David M.
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2
Stipanuk
Chapter 1: The Role, Cost, and Management of Hospitality
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Sample Questions
Q1) The major element of the utilities expenditure is:
A)fuel (gas, oil, propane).
B)electricity.
C)steam.
D)water and wastewater.
Answer: B
Q2) Budgetary responsibility for the POM and utilities expenditures belongs to which of the following departments?
A)security
B)Accounting
C)engineering
D)rooms
Answer: C
Q3) Which of the following expense items is not covered by replacement reserve funds?
A)FF&E
B)building expansion
C)building repair
D)emergency services
Answer: B
Page 3
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Chapter 2: Hospitality Facilites Management Tools,
Techniques, and Trends
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Sample Questions
Q1) All of the following provisions are normally included in a maintenance contract except:
A)a schedule of frequency of work and specific duties.
B)a cancellation clause.
C)specific fees for the work to be done.
D)automatic renewal.
Answer: D
Q2) Which of the following types of maintenance has an immediate revenue effect?
A)predictive maintenance
B)preventive maintenance
C)emergency or breakdown maintenance
D)routine maintenance
Answer: C
Q3) Facilities benchmarking for establishing goals for quality is based on:
A)statistical analysis.
B)quality milestones
C)comparisons.
D)quality circles.
Answer: C
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Chapter 3: Environmental and Sustainability Management
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Sample Questions
Q1) Capturing heat from exhaust air and using it to pre-heat the building's incoming air is an example of:
A)waste transformation.
B)recovery and reuse.
C)cogeneration.
D)variable-volume air handling.
Answer: B
Q2) Why would a hospitality facility owner seek ISO 14000 certification?
A)It is required by law in most countries.
B)It is an international standard of environmental achievement that many customers look for.
C)The hospitality industry requires it.
D)Without it, environmentalists would likely create negative publicity by picketing the facility.
Answer: B
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Chapter 4: Safety and Secuiryt Systems
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Sample Questions
Q1) Fire safety at a hospitality property is:
A)best left to professional firefighters.
B)the responsibility of everyone at the property.
C)solely the responsibility of the maintenance department.
D)solely the responsibility of the property's top management.
Q2) Which of the following statements about safety concerns in the guest bath is false?
A)Appropriate cleaning chemicals have no effect on the slip resistance rating of a bathroom tub and shower.
B)To help prevent scalding, bath and shower valves should be used that provide pressure and temperature a compensation.
C)Glass shower stall doors should be made of tempered glass.
D)Ground fault protection on all electrical outlets in the bathroom can reduce injury due to electrical shocks.
Q3) Which of the following is not a fire detection device?
A)heat detector
B)sprinkler activation detector
C)smoke damper detector
D)smoke detector
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Chapter 5: Water and Wasterwater Systems
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Sample Questions
Q1) Which of the following statements about mixing valves is true?
A)They are usually not part of a guestroom water system component (such as a shower control valve).
B)They are used to mix untreated water with the chemicals that make the water drinkable.
C)They are designed to protect water users from being burned or scalded by hot water.
D)They are used in hotel swimming pools to properly mix the chemicals that make the pool water safe for swimming.
Q2) The device that submeters water used for cooling towers, irrigation, and swimming pools, so that this water can be deducted from the property's water disposal (sewer) bill, is known as a:
A)backflow preventer.
B)deduct meter.
C)water separator.
D)water trap.
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Chapter 6: Electrical Systems
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Sample Questions
Q1) Because electric utilities have been deregulated in the United States:
A)hotels must generate their own electricity.
B)each geographic region has been assigned a single electric utility company.
C)hotel managers must choose a utility company to supply their hotel's electricity.
D)power outages and power-reliability problems have become much less frequent.
Q2) Which of the following statements is a good rule for taking care of equipment that uses electricity?
A)You should store electrical equipment in damp or wet locations.
B)Overloading electrical equipment at least once during its use cycle helps the equipment operate at peak performance.
C)You should unplug electrical equipment by gripping the cord, not the plug.
D)Electrical equipment should be kept clean.
Q3) The charge based on a business's highest rate of energy usage during a billing period is called the __________ charge.
A)energy
B)demand
C)spike
D)voltage
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Chapter 7: Heating, Ventilating, and Air Conditioning Systems
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Sample Questions
Q1) Water is cooled in a cooling tower by a process of:
A)condensation.
B)evaporation.
C)compression.
D)osmosis.
Q2) The basic job of a thermostat is to:
A)regulate the flow of fuel to an HVAC unit.
B)signal to maintenance personnel when an HVAC unit is in need of maintenance or repair.
C)regulate the flow of intake air to an HVAC unit.
D)sense the temperature of the air at the thermostat and signal an HVAC unit to either turn on or turn off.
Q3) The energy efficiency ratio (EER) of cooling equipment can be calculated by:
A)adding the amount of cooling achieved (Btu/hr) to the amount of energy used (watts drawn by the unit) to operate the system.
B)multiplying the amount of cooling achieved by the amount of energy used.
C)subtracting the amount of cooling achieved from the amount of energy used.
D)dividing the amount of cooling achieved by the amount of energy used.
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Chapter 8: Lighting Systems
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Sample Questions
Q1) Exit signs must operate:
A)only at night.
B)only in dark areas within a building.
C)24 hours a day, every day.
D)during emergencies; at other times, operation is optional.
Q2) A light source's ability to provide a perceived color similar to that which results from sunlight is known as the source's:
A)illumination.
B)color code.
C)lumen.
D)color rendition.
Q3) What is the most common type of electric discharge lamp?
A)mercury vapor
B)fluorescent
C)metal halide
D)high-pressure sodium
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Chapter 9: Laundry Systems
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Sample Questions
Q1) "Water hammer" occurs when:
A)water flowing rapidly through a pipe is abruptly stopped.
B)calcium and other substances in water clog a pipe.
C)water is incorrectly treated by the water softener.
D)water in hot water heaters is brought to high temperatures too quickly.
Q2) Top-transfer tunnel washers:
A)subject laundry to successive "baths" within the same cylinder.
B)drain the water from the laundry before moving it along to the next bath within the washer.
C)subject laundry to a centrifugal force within each bath in order to promote cleaning. D)transfer both the water and the laundry to the next bath within the washer.
Q3) Usually, the most economical heat source for a dryer is:
A)gas.
B)electricity.
C)steam.
D)coal.
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Chapter 10: Building Structure, Finishes, and Site
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Sample Questions
Q1) The purpose of a storm water drainage system is to:
A)carry rain water away from the property.
B)protect the property in case the local community's sanitary sewer system fails, by providing a place for the sewage to go.
C)protect the property from underground springs.
D)do all of the above.
Q2) An advantage of using universal parking spaces to comply with the ADA is that:
A)no "van accessible" signs are needed.
B)spaces can accommodate either vans or cars.
C)access aisles are not required.
D)a and b
Q3) Joints in concrete are used to:
A)reinforce the concrete.
B)control the location of cracks.
C)eliminate cracking, spalling, and scaling.
D)absorb longitudinal load stress.
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Chapter 11: Lodging Planning and Design
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Sample Questions
Q1) What is a porte cochère?
A)It is the technical name for a main hotel entrance that meets ADA's accessibility requirements.
B)It is the French name for the back or employee entrance to a hotel.
C)It is a hotel patio or courtyard typically constructed with paving stones.
D)It is a canopy designed to protect guests from inclement weather and provide visual emphasis to a hotel's main entrance.
Q2) The most prominent hotel public space is the:
A)ballroom.
B)lounge.
C)restaurant.
D)lobby.
Q3) The process for developing a new hotel typically takes approximately:
A)six to twelve months.
B)one to two years.
C)three to four years.
D)five to seven years.
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Chapter 12: Renovation and Capital Projects
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Sample Questions
Q1) With a design/build contract:
A)the owner serves as the renovation designer, with construction performed by in-house staff.
B)the construction contractor serves as the designer as well as the builder.
C)the designer provides designs to the contractor that constructs the project.
D)none of the above.
Q2) Equipment or materials that are functionally, operationally, and aesthetically equivalent to higher-priced items made by different manufacturers are called:
A)copy-cat goods.
B)proxies.
C)makeshift goods.
D)knock-offs.
Q3) Why is it a good idea to hire design professionals for all but the very smallest renovation projects?
A)Designers know about the most current construction materials and technology.
B)Designers can provide the documents needed by local building officials.
C)Designers can make sure the renovation meets building code requirements.
D)All of the above.
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