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Molodets [167]
3 years ago
13

Last month, Ginger's hotel ran an occupancy rate of 85%. Her competitive set had 150,000 room nights included within it that wer

e available for sale during that month. During that month, the competitive set sold a total of 115,000 rooms. What was the approximate occupancy rate INDEX last month for Ginger's hotel? Group of answer choices
Mathematics
1 answer:
vichka [17]3 years ago
8 0

Answer:

111

Step-by-step explanation:

-The occupancy rate index is calculated using the following formula:

Index=\frac{Hotel \ OCC}{Competitive \ OCC}\times 100

-The Hotel OCC is the property's occupancy rate given as 85%

-The Competitive OCC, is the competitive set's occupancy rate calculated as;

Occupancy \ Rate=\frac{Room \ Sold}{Rooms \ Available}\\\\\\=\frac{115000}{150000}\\\\=76.67\%

-We then substitute to solve for the occupancy rate index:

Index=\frac{Hotel \ OCC}{Competitive \ OCC}\times 100\\\\=\frac{0.85}{0.7767}\times 100\\\\=110.86\\\approx 111

Hence, the occupancy rate index is 111

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L = 2w - 3

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Answer:

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Step-by-step explanation:

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