Final answer:
Gross Operating Profit is the crucial measurement of business results for Property Management Teams and Revenue Managers, as it reflects the income made after variable costs and before fixed costs. The correct option is option (C).
Step-by-step explanation:
For the Property Management Team, including Revenue Managers, the key measurement of business results is Gross Operating Profit. The Gross Operating Profit is a key indicator of a business's operational performance and represents the profit a company makes after deducting the costs associated with making and selling its products but before deducting interest, taxes, and other expenses.
It embodies the fundamental equation that every business, regardless of its size or complexity, tries to maximize, which is Profit = Total Revenue - Total Cost.
Total revenue, which is the total income generated from selling products or services, is calculated by Total Revenue = Price x Quantity.
This measurement is vital for a property management team as it directly reflects the success of their interventions in optimizing pricing and occupancy to maximize revenues.