Last year, the Kings Cottages ADR was 75 and its occupancy percentage was 72%. The management hopes

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Last year, the King’s Cottage’s ADR was €75 and its occupancy percentage was 72%. The management hopes to achieve an ADR this year of €80 based on an expected occupancy level of 70%. Determine the price elasticity of demand of the King’s Cottage’s rooms.

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Gauri Hendre

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