The value of a hotel room will be lost if it is not sold for a night. Which characteristic of the H&T industry does this statement describe?

Question

Quizplus · Accepted Answer

The statement describes the characteristic of perishability, which means that the value of a hotel room (or any perishable service) is lost if it is not sold for the night. This is because the opportunity to sell that room for that night is gone forever, and the hotel cannot recoup that revenue.

The Value of a Hotel Room Will Be Lost If