A luxury resort in Barbados has thus far experienced an elastic price elasticity of demand since it started operations almost 15 years ago. The hotel was purchased in January 2021 by a Canadian company. The new owners have expressed their desire for an increase of room revenue, which should come into place as of April 1, 2021. Additionally, you were appointed General Manager of the property and therefore, you are assigned this task to increase room revenues. Explain the measures you will take to accomplish the wish of the new owners.