The following table provides an analysis of the rooms division revenue earned by the Classic Hotel in the last 30 days, relative to its three closest competitors. Classic 160 140 160 180 Total 640 Classic Hotel: Competing hotels revenue comparison Hotel Number of Market share Room rooms capacity A B C Room Room nights sold nights share revenue 25.00% 21.87% 25.00% 28.13% 100% 3,840 3,150 3,360 3,240 13,590 28.26% 23.18% 24.72% 23.84% 100% Room revenue share $460,800 23.38% $472,500 23.97% $487,200 24.71% $550,800 27.94% $1,971,300 100% Required: a. Calculate the occupancy, ADR and Revpar penetration indices for the Classic Hotel. b. Based on this analysis, how well does the Classic Hotel appear to be performing with respect to revenue management. c. Based on your answer provided in a), which aspect of revenue management do you believe provides greatest scope for improved performance for the Classic Hotel: 1) minimising the loss of revenue resulting from rooms not being sold, or 2) minimising the loss of revenue resulting from selling rooms at prices below what they could have been sold for.