Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are the revenue manager for a hotel in Charlotte, NC with 400 rooms. You've just received an RFP from a group asking for
You are the revenue manager for a hotel in Charlotte, NC with 400 rooms. You've just received an RFP from a group asking for a block of rooms for a three-day meeting; specifically, they are asking for 285, 305, and 225 rooms for nights 1 to 3, respectively. You anticipate your transient occupancy rates for those three nights as 75%, 79%, and 82% for nights 1 to 3, respectively. For the transient guests, you anticipate an ADR of $255. The group is requesting a $180 room rate for all three nights. Focusing only on total room revenues, what is the net revenue change if you business? accept this group a) 4255 b) 4455 c) 4355 d) 4155
Step by Step Solution
★★★★★
3.38 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
Heres how to calculate the net revenue change Without the group transient guests only Revenue fr...Get Instant Access to Expert-Tailored 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