1. Your hotel has 425 rooms, and this Friday night is looking to be busy. It is 2pm Thursday afternoon and there are 402 reservations in the books for tomorrow night. Historical data shows that 2% of your reservations will cancel, 5% will no show and approximately 1% will depart early and therefore not stay over for Friday night. Calculate the CRV or Casualty Rate Value for Friday night to show how many rooms you can expect to sell. How many rooms do you still have to comfortably sell and avoid overbooking the hotel? Use the following chart to assist. Total Rooms Friday's Reservations Less Cancellations Less No Shows Less Early Departures Adjusted Arrivals/Reservations Rooms to Sell b. Perishable Product 2. Describe the following terms about hotels. Explain why it is an advantage or disadvantage to the hotel as a business. a. Fixed Capacity c. Variable Pricing Adjustments d. Ability to sell in advance. Rooms e. Ability to sell to many market segments