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Management Studies

Consider the example of the Park Hyatt Philly discussed in the text. Recall that the full fare is $225, the expected full-fare demand is ~P(27.3), the discount fare is $159, and there are 118 king/queen rooms. Now suppose the cost of an occupied room is $45 per night. That cost includes the labor associated with prepping and cleaning a room, the additional utilities used and the wear and tear on the furniture and fixtures. Suppose the Park Hyatt wishes to maximize expected profit rather than expected revenue. What is the optimal protection level for the full fare?

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Operation Management, Management Studies

Category:- Operation Management
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