Q1. As a result of Covid 19, your management has decided that some key yieldmanagement analytics be manipulated in order to ensure cashflow for the hotel tosurvival the turbulence. As a result, you have been asked by management to look intohow you can manage at least 50% occupancy for the first quarter, then an increment of20% on the second quarter, 30% and 40% on the third and fourth quarters respectively.The total rooms available in your hotel is 920, and management expect a base revenue ofGHS85,000.00. The base revenue of GHS85,000.00 is expected to increase by 20% onthe second quarter, 30% and 40% on the third and fourth quarters respectively.1. Identify the two most important yield management analytics (measures) that mustbe considered, offering explanations to what they are in hotel management.2. Apply the formulas of these two measures to provide the actual figures that you expect tooperate with, indicating the step-by-step stages of your calculations for clarity tomanagement.

Answered: Q1. As a result of Covid 19, your…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 30P

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