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If quantity and quality are held constant how will a reduction in price affect buyers perceptions of value if they are buying a hotel room at a upper upscale hotel such as a Marriott, Sheraton, or Hilton?
Last month Carl’s hotel had 10,000 available room nights and sold 6,000 room nights. Last month his comp set had an average occupancy of 80%. What was Carl’s occupancy index last month?
Consider the following formula: (A+B) – C = D
Where: A = Perceived tangible product benefit
B = Perceived intangible service benefit
C = Price
D = Value
If all other variables are held constant, which statement is true?
What is the most likely result of a revenue manager’s decision to raise rates during periods of very high demand?