What is the management fee (1) on a per available room basis and (2) as a percentage of total revenue for a 255-room hotel located in California that had an occupancy level of 62%, ADR of $84.53, a room revenue to total revenue % of 56.4%, and a gross operating profit % of 24.8%? The management fee agreement stipulated that the company would receive 3% of gross revenue, and 10% of gross operating profit.

1.Please use the information from Question 10 to calculate the Total mgmt fee.

Total mgmt fee (round to whole number) $ ___

2.Please use the information from Question 10 to calculate the Mgmt fee on PAR basis.

Mgmt fee on PAR basis (round to two decimal places) $ ___ PAR/yea