Excluding any potential no-show billings, how much extra room revenue will be gained from overbooking if Tonya indeed experiences ten no-shows but overbooks by ten rooms and thus achieves a 100 percent occupancy? How much extra cost will the hotel incur if it sells out, but ultimately walks 1 guest? How much extra cost will the hotel incur if it sells out, but ultimately walks 10 guests? If the hotel walks 10 guests, what would be the net revenue (i.e., difference between the extra room revenue from overbooking and the associated costs of walking those 10 guests)? In addition to added room revenue and potential costs, what are at least three other factors Tonya should consider as she makes this overbook/no-overbook decision for her hotel?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Tonya Stephani is the front office manager/RM at the 200-room Hilton Garden hotel. Tonight, she has 100 stay-over rooms and 100 arrivals. Based on her own
- Excluding any potential no-show billings, how much extra room revenue will be gained from overbooking if Tonya indeed experiences ten no-shows but overbooks by ten rooms and thus achieves a 100 percent occupancy?
- How much extra cost will the hotel incur if it sells out, but ultimately walks 1 guest?
- How much extra cost will the hotel incur if it sells out, but ultimately walks 10 guests?
- If the hotel walks 10 guests, what would be the net revenue (i.e., difference between the extra room revenue from overbooking and the associated costs of walking those 10 guests)?
- In addition to added room revenue and potential costs, what are at least three other factors Tonya should consider as she makes this overbook/no-overbook decision for her hotel?
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In addition to added room revenue and potential costs, what are other factors Tonya should consider as she makes this overbook/no-overbook decision for her hotel?
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