Consider yourself the general manager of a luxury casino resort and your aim to include revenue management strategies into these regions. PLEASE ELABORATE AS MUCH AS YOUR CAN.

1) The manager of Table Games has come to you and stated that he believes the minimum bets for the blackjack tables are not operating effectively. There is currently a $10 minimum bet required on Sunday through Thursday and a $25 minimum bet on Friday and Saturday. Blackjack tends to be popular at different times of day as well as on different days of the week. How would you know whether you ought to adjust the minimum wager? What measures would you need to take? What specific details would you seek to learn, and how would you investigate them?

2) The spa manager has informed you that they believe they are experiencing problems with client service, which they believe is costing them money. With 10 treatment rooms and an 8-hour daily opening schedule, the spa can accommodate 80 clients for 50-minute sessions each day. They also provide 90-minute treatments, although they take up rooms. Additionally, it appears that demand varies weekly. Although the spa manager is aware that they cannot accept everyone, they are interested in your opinion on a few ideas. If the Spa wants to make the most of their available rooms, should they accept reservations as they come in or reserve rooms for specific time periods? Justify your position.

3. The golf course management is facing a problem. The inability to rebook guests who canceled tee times the day before caused a lot of problems for the golf course. The management implemented a new rule requiring cancellations from clients no later than 72 hours in advance, but it has sparked a lot of backlash and cost them money. The Manager is interested in your opinion on three concepts. Is it preferable if they had a 48-hour cancellation policy? Should they still impose a 24-hour cancellation policy but only bill a flat cost rather than the entire green fee? Should they revert to the previous 24-hour cancellation policy and instead overbook the class to account for cancellations? Please list the advantages and disadvantages of each suggestion before recommending one.

4) The Revenue Manager has presented you with a final, very intriguing proposition. They will be able to adopt dynamic pricing for the spa, casino, and golf course thanks to a brand-new revenue management system. Accordingly, the revenue manager will be in charge of altering these outlets' prices in accordance with the level of demand. What would the challenges be in successfully executing this program? What form of input ought the managers from these departments to receive? Do you anticipate that there will be various demands in each of these areas?