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Nov 24, 2024

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10/30/23, 9:57 AM Chapter 5 Post-Class Homework https://www.ameengage.com/mod/quiz/review.php?attempt=4637747&cmid=1260611&page=6 1/3 Dashboard / My courses / [Seneca 09/2023] HTM440NHB - Nardi / CHAPTER 5 - Pricing Methods / Chapter 5 Post-Class Homework
10/30/23, 9:57 AM Chapter 5 Post-Class Homework https://www.ameengage.com/mod/quiz/review.php?attempt=4637747&cmid=1260611&page=6 2/3 Question 7 Not answered Mark 0.00 out of 7.00 Take me to the text The manager of Thyme Hotel determined the following costs for 2020. Room Operating Costs $2,012,000 Depreciation Expense $964,000 Property Taxes Expense $358,000 Management Salaries $413,000 Other Operating Costs $2,361,000 Total Operating Costs $6,108,000 Thyme Hotel has 250 rooms with an average occupancy rate of 85%. It operates 365 days per year. Do not enter dollar signs or commas in the input boxes. a) Determine the number of rooms to be sold during the year. Round your answer to the nearest whole number. Rooms to be Sold: b) Based on the above information, what is the breakeven room rate for Thyme Hotel? Round your answer to 2 decimal places. Breakeven Room Rate: c) What is the minimum daily revenue? Round your answer to 2 decimal places. Minimum Daily Revenue: d) If Thyme Hotel has two different sized rooms, 300 square feet and 400 square feet, what would be the minimum rate to charge for those rooms if there are 110 300-square-foot rooms? Round square feet to the nearest whole number. Round room rates to 2 decimal places. Total Square Feet: Total Square Feet Sold: Small Room Rate: Large Room Rate: Explanation a) Rooms to be Sold = Number of Rooms × Occupancy Rate × Days in the Period Rooms to be Sold: 77,563 b) Breakeven Room Rate = Total Operating Costs ÷ Rooms to be Sold Breakeven Room Rate: 78.75 c) Minimum Daily Revenue = Breakeven Room Rate × Number of Rooms Rented Minimum Daily Revenue: 16,734.38 d) Small Room Rate = (Daily Revenue ÷ Total Square Feet Sold) × small room square feet Larger Room Rate = (Daily Revenue ÷ Total Square Fee Sold) × large room square feet Total Square Feet: 89,000.00 Total Square Feet Sold: 75,650.00
10/30/23, 9:57 AM Chapter 5 Post-Class Homework https://www.ameengage.com/mod/quiz/review.php?attempt=4637747&cmid=1260611&page=6 3/3 Small Room Rate: 66.36 Large Room Rate: 88.48
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