Answered step by step
Verified Expert Solution
Question
1 Approved Answer
show work please 6.11 Motley Motel's potential average room rate is calculated to be $31.00. Assume that this motel had three market segments. Vacation travellers
show work please 6.11 Motley Motel's potential average room rate is calculated to be $31.00. Assume that this motel had three market segments. Vacation travellers comprise 75% of the room nights and are charged 100% of the rack rate. Business travellers comprise 15% of the room nights and are charged 90% of the rack rate. Sports teams account for 10% of the room nights and are charged 80% of the rack rate. a. Calculate the room rate by market segment. b. Prove that your calculations are correct, assuming that total annual room nights are 7,300
show work please
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started