1. How is Lorenzo likely to begin the process of budgeting revenue for the hotel in its first year after expansion?
2. What historical hotel data would be useful in helping Lorenzo complete this task?
3. What additional information about the area in which the hotel is located would be helpful to him?

Lorenzo Pelly has recently been assigned to serve as the GM and oversee the renovation and expansion of a hotel just purchased by the real estate investment group that employs him. Currently, the hotel consists of 300 rooms and 8,000 square feet of meeting and banquet space. The expansion calls for adding 150 guest rooms, as well as 8,000 additional feet of meeting space. Assume the expansion will take one year.