The BestRate Hotel was recently constructed, and it cost $60,000,000 to build. The BestRate Hotel is open 365 nights per year, has 240 rooms and has 30% of its floor space dedciated to a restaurant that serves both hotel guests and external customers. The BestRate Hotel has the following numbers and types of rooms: 100 standard rooms that are 75 square metres in size, 80 deluxe rooms that are 100 square metres, and 60 suites that are 125sqm. In the upcoming year, the hotel needs to make $13,432,000 in rooms revenue in order to generate the required return for the hotel's owners, and occupancy for all room types is forecast at 80% for the year.

Answer the questions below, using two decimal places where necessary.

According to the rule of thousands, what is the required ADR?

What is the total number of room nights forecast to be sold in the upcoming year?

What is the required rooms revenue per day in the upcoming year?

How many square metres will be occupied per day?

What is the required revenue per square metre?

Based on the relative room size approach to rate setting, what is the required average rate for a deluxe room?