CASE STUDY 60 2 Suggest revenue management strategies to use under the following circumstances at The Times Hotel: Situation 1: The Train Collectors will be in town I November 12, 13, and 14 only I November 13, 14, and 15 only 1 November 13 and 14 only 1 November 14 and 15 only 1 November 15 only from November 10 through November 15 and will draw 50,000 people. Every room in town is expected to be taken for that period. What policy should the hotel develop for guests who want to reserve a room for the following periods? Situation 2: The last two weeks of December are usually a slow period for room sales, but a local Snow and Ice Festival will attract visitors who may I November 10 only I November 10 and 11 only I November 10, 11, and 12 only request reservations for single overnight accommo- dations. What policy should the hotel develop for accepting room reservation?

CASE STUDY 60 2 Suggest revenue management strategies to use under the following circumstances at The Times Hotel: Situation 1: The Train Collectors will be in town I November 12, 13, and 14 only I November 13, 14, and 15 only 1 November 13 and 14 only 1 November 14 and 15 only 1 November 15 only from November 10 through November 15 and will draw 50,000 people. Every room in town is expected to be taken for that period. What policy should the hotel develop for guests who want to reserve a room for the following periods? Situation 2: The last two weeks of December are usually a slow period for room sales, but a local Snow and Ice Festival will attract visitors who may I November 10 only I November 10 and 11 only I November 10, 11, and 12 only request reservations for single overnight accommo- dations. What policy should the hotel develop for accepting room reservation?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2. Gas rates for residential customers will likely drop by 5.23 percent, starting Nov. 1. If the state Public Service Commission approves the lower rate, the average customer's monthly gas bill would drop by about $7.50 a month. Mountaineer's business customers will see their gas rates decline by about 4 percent, while industrial customer rates will drop 9.2 percent a. Suppose you are creating the spreadsheet below to track the gas rates. A B C 1 Type of Customer Original Rate New Rate 2 Industrial 3 Business 4 Residential b. Based on the information in the article, what was the average monthly gas bill for a residential customer before the rate change? Round to the nearest dollar.
Refer to the following paragraph for answering the next 2 questions (i.e., Q2-3). A small warehouse has 100,000 square feet of capacity. The manager at the warehouse is in the process of signing contracts for storage space with customers. The contract has an upfront monthly fee of $200 per customer and then a fee of $3 per square foot based on actual usage. The warehouse guarantees the contracted amount even if it has to arrange for extra space at a price of $6 per square foot. The manager believes that customers are unlikely to use the full contracted amount at all times. Thus, he is thinking of signing contracts that exceed 100,000 square feet. He forecasts that unused space will be normally distributed, with a mean of 20,000 square feet and a standard deviation of 10,000 square feet. Q2. What is the TOTAL size of the contracts he should sign? 120,000 O140,000 160,000 180,000
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Scenario: Joe Babbitt, a former executive of T-Mart, just started a term as mayor of Saulk Center. For the past several days, he has been looking for a way to keep his campaign promise to increase services without raising taxes or service charges. While lunching at the country club with the treasurer of T-Mart, the subject of a recent sale and leaseback of one of T-Mart’s stores came up. Following a common practice in retailing, T-Mart had erected a building and sold it to an investor. It then signed a long-term lease on the building. “Bingo! That’s it,” thought Mayor Babbitt. “We can sell several of the city’s buildings—as well as police cars, fire engines, and other vehicles—to investors and lease them back. That will give us the revenues we desperately need. Now I can concentrate on fighting crime.” Question: Do you agree with Mayor Babbitt?
Required Information Problem 12-47 (LO 12-3) (Algo) [The following information applies to the questions displayed below.] LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $278 per month. Problem 12-47 Part a (Algo) a. If LaMont receives one pass (worth $278) each month, how much of this benefit must he include in his gross income each year? Transit pass benefit to be included in gross income
Analyze Cityscape Hotels Cityscape Hotels has 200 rooms available in a major metropolitan city. The hotel is able to attract business customers during the weekdays and leisure customers during the weekend. However, the leisure customers on weekends occupy fewer rooms than do business customers on weekdays. Thus, Cityscape plans to provide special weekend pricing to attract additional leisure customers. A hotel room is priced at $180 per room night. The cost of a hotel room night includes the following: Line Item Description Cost Per Room Night(at normal occupancy) Housekeeping service $23 Utilities 7 Amenities 3 Hotel depreciation 55 Hotel staff (excluding housekeeping) 42 Total $130 The special weekend price is proposed for $120 per room night. At this price, it is anticipated that average occupancy for the weekend (Friday, Saturday, and Sunday) will increase from 30% to 50% of available rooms. Question Content Area a. What is the contribution margin for a…
33. subject:- Accounting
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A chain of convenience stores has one manager per store who is paid a monthly salary. Relative to the number of stores, is the manager’s salary fixed or variable? Why?
]Each month, $150 is available in petty cash funds for small office expenditures. Expenses paid from petty cash during the month are listed below. Postage $26.00 Office supplies $46.25 Delivery charge $ 9.50 Physician’s parking fee $12.00 What is the total for expenditures for the month from petty cash? Round your answer to the nearest cent and do not include the dollar sign ($) in your answer.
Volume and pricing Dim Witt is the county commissioner of Clueless County. He decided to institute tolls for local ferry boat passengers. After the tolls had been in effect for four months, Astra Astute, county accountant, noticed that collecting $1,450 in tolls incurred a daily cost of $2,000. The toll is $0.50 per passenger. a. How many people are using the ferry boats each day? 2,900 b. (1) If the $2,000 cost is entirely fixed, how much must each passenger be charged for the toll process to break even? Note: Round your answer to two decimal places (for example, round $4.655 to $4.66). $0.69 (2) How much must each passenger be charged for the toll process to make a profit of $250 per day? Note: Round your answer to two decimal places (for example, round $4.655 to $4.66). $ 0.78 c. Assume that only 80 percent of the $2,000 is fixed and the remainder varies by passenger. If the toll is raised to $0.60 per person, passenger volume is expected to fall by 10 percent. If the toll is raised…
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