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CHAPTER 8, PROBLEM 2 - REVENUE MANAGEMENT AND SCIENTIFIC PRICING Hotel Room Pricing A hotel has 500 rooms. During a typical week in the holiday

CHAPTER 8, PROBLEM 2 - REVENUE MANAGEMENT AND SCIENTIFIC PRICING

Hotel Room Pricing

A hotel has 500 rooms. During a typical week in the holiday season, the hotel is busy on Monday, Tuesday, Wednesday, and Thursday nights, primarily with business people, but there is generally space available on Friday, Saturday, and Sunday nights.

Hotel management provided the following demand estimates, as shown in Table 8.1:

Assume linear demand functions over the range of all non-negative room rates and demands.

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