Question
5. TOT estimates. A new hotel is proposed along a freeway interchange. It will have 230 rooms. If the average annual occupancy is 65%, and
5. TOT estimates. A new hotel is proposed along a freeway interchange. It will have 230 rooms. If the average annual occupancy is 65%, and the average room rate is $140/night and the citys transient occupancy tax is 11%, about how much would this new hotel generate in TOT?
6. Seasonal TOT Calculation. The developers of a proposed hotel suggested that during the high season (lets say 100 days) they could achieve a 90% occupancy rate and charge an average room rate of $120. In the low season (265 days) they would achieve a 60% occupancy rate and charge an average room rate of $90. If the resort has 125 rooms, and the County charges an 11 % TOT rate, estimate the total TOT for one year.
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