Scenario You are the revenue manager for the Hilton Austin TX, a 450 room, busy downtown hotel. The month of November is historically a high-demand period. During your daily revenue management meeting you sit down with your team to discuss the upcoming busy period of the 3rd week of November. One of your team members, Laxmi, reminds everyone that the HFTP (Hospitality Financial Technology Professional convention has booked 150 rooms for 3 nights with a Wednesday arrival date for the 3rd week of November. This group is guaranteed and will be paying $210 per night, per room. They have arranged for a "Disney themed dinner on their last night and will be paying $65 per person for dinner that evening. The group expects 150 guests to attend the dinner. Another member of the revenue management team, Raymond, mentions that they have another potential group, Baptist Church Ladies group, for the same week. This group would like to book for 5 nights with a Monday arrival and would like to book 310 rooms. This group is price-sensitive and is willing to pay the group rate of $140 per night. Raymond mentions that this group will need 4 meeting rooms for each day. At this point, another member of the team, mentions that they have a prospective group booking for the same week. The group Lian has lined up, is looking to book 100 rooms for 4 nights with a Wednesday arrival and is willing to pay $200 per room night. The group is also looking to have a formal banquet on Wednesday and Saturday for 100 people and is willing to pay $100 per plate. Knowing that your hotel cannot accommodate all 3 groups during the week in question, you and the team decide to look at the expected transient business during that week. Your group has decided that you could expect the following transient business during the week in question: Sunday Monday Tuesday Wednesday Thursday Friday Last 2 digits of Saturday Expected 25 Transient Rooms First 3 digits of First 3 digits of Last 3 digits of 75 96 Rooms Rooms Room Sales your your student student your student ID your student ID ID Rate $190 $175 $195 $220 ID $225 $230 $245 Some other information to help you make a decision: Meeting Room Rate - $1,200 per day Meeting Room Variable Cost -10% 10:22 & Vo)) lll 48%. they have another potential group, Baptist Church Ladies group, for the same week. This group would like to book for 5 nights with a Monday arrival and would like to book 310 rooms. This group is price-sensitive and is willing to pay the group rate of $140 per night. Raymond mentions that this group will need 4 meeting rooms for each day. At this point, another member of the team, mentions that they have a prospective group booking for the same week. The group Lian has lined up, is looking to book 100 rooms for 4 nights with a Wednesday arrival and is willing to pay $200 per room night. The group is also looking to have a formal banquet on Wednesday and Saturday for 100 people and is willing to pay $100 per plate. Knowing that your hotel cannot accommodate all 3 groups during the week in question, you and the team decide to look at the expected transient business during that week. Your group has decided that you could expect the following transient business during the week in question: Expected 25 Transient Rooms Sunday Monday Tuesday Wednesday Thursday Friday Saturday First 3 Last 2 First 3 Last 3 75 digits of digits of digits of digits of Rooms 96 Rooms Room your your your your Sales student student student ID student ID ID ID Rate $190 $175 $195 $220 $225 $230 $245 Some other information to help you make a decision: Meeting Room Rate - $1,200 per day Meeting Room Variable Cost - 10% Variable Cost for Dinner or Banquet - 26% Required Questions: 1. (10 Marks) Which group, if any, should the Hilton Austin TX accept? Why? Include all calculations in your submission. (Your analysis must be supported by financial calculations. Room nights sold for each segment, total occupancy for each possible scenario and total revenue for each possible scenario should be calculated)