Final answer:
Managing a hotel is not considered a real estate activity, as it pertains to the hospitality industry, unlike listing properties, accepting tenant deposits, and real estate advising.
Step-by-step explanation:
The activity which is not considered to be a real estate activity among the options provided is 'managing a hotel'. Real estate activities typically involve the sale, purchase, or management of real estate properties. Listing properties for sale, accepting deposits from prospective tenants, and advising individuals in the acquisition of real estate are all activities directly related to real estate.
In contrast, managing a hotel involves the hospitality industry and is concerned with the operational aspects of running a lodging facility, which includes services, accommodations, and amenities provided to guests rather than the management of real estate as property.