Question

LAST MOnth ginger,s hotel ran an occupancy rate of 85%her competitive set had 150,000 room nights included within it that were 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

Answer 1

Answer:

Step by step explaination

Explanation:

According to the above given question we know that in the last month, Ginger hotels ran an occupancy rate of 85% of the competitive set had 150,000 room nights included within it that were available for sale during that month. During that month, the competitive set sold a total of 115,000 rooms.

Here, we need to find out the approximate occupancy rate index last month for ginger's hotel.

The occupancy of Ginger’s hotel is 85% whereas the competitive set has 150,000 rooms. Among them, only 115,000 rooms are sold.

Hence, the occupancy rate of the competitive set will be as follows

= 115000/150000 = 0.7667 = Or in percentage, it will be 76.67%.

We know that occupancy is always rounded to the lower whole number and therefore, the actual occupancy would be 76%. From here, we can calculate the  occupancy rate INDEX as follows

The occupancy rate INDEX = Ginger’s hotel occupancy/competitive set occupancy

= 85/76

= 1.1184

Finally, in percentage and rounding to the nearest whole numberm the occupancy would be 112%.

Answer 2

Occupancy Rate Index =112% (Approx)

Explanation:

Given:

Ginger’s occupancy rate = 85%  = 0.85

Competitive set has rooms = 150,000

Sold rooms = 115,000

Computation:

Occupancy rate of competitive set = 115,000 / 150,000  = 76.67%

 Occupancy Rate Index = Ginger’s occupancy rate / Competitive set occupancy  rate

 Occupancy Rate Index = 85/76 .67

 Occupancy Rate Index = 1.1184

 Occupancy Rate Index =112% (Approx)

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