We consider a hotel resort which contains a casino. The nightly rate for the room is $ 400. There are 140 rooms in total. Every night, some customers in Casino would request to book a room in the hotel. The hotel would offer 50% discount for the room rate for people who play in the Casino. Besides the room rate, on average, a customer that plays in Casino and stay at night can bring in additional revenue of $800 to the hotel. If we do not have the information about the number of people who would come and play in Casino, how many rooms should the hotel reserves for casino players? What would be the competitive ratio in this case? Key words for this question: resource allocation, competitive ratio, Revenue Management Please do fast ASAP ..fast
We consider a hotel resort which contains a casino. The nightly rate for the room is $ 400. There are 140 rooms in total. Every night, some customers in Casino would request to book a room in the hotel. The hotel would offer 50% discount for the room rate for people who play in the Casino. Besides the room rate, on average, a customer that plays in Casino and stay at night can bring in additional revenue of $800 to the hotel. If we do not have the information about the number of people who would come and play in Casino, how many rooms should the hotel reserves for casino players? What would be the competitive ratio in this case? Key words for this question: resource allocation, competitive ratio, Revenue Management Please do fast ASAP ..fast
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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We consider a hotel resort which contains a casino. The nightly rate for the room is $ 400. There are 140 rooms in total. Every night, some customers in Casino would request to book a room in the hotel. The hotel would offer 50% discount for the room rate for people who play in the Casino. Besides the room rate, on average, a customer that plays in Casino and stay at night can bring in additional revenue of $800 to the hotel. If we do not have the information about the number of people who would come and play in Casino, how many rooms should the hotel reserves for casino players? What would be the competitive ratio in this case?
Key words for this question: resource allocation, competitive ratio, Revenue Management
Please do fast ASAP ..fast....
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