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Q5. Case Study: Did My Hotel Perform Well? How can you be sad?" asked John Lee. Our occupancy last month was 74 percent; that's almost 4 points higher than the same month last year. And our ADR was $1236.73that's about $37.00 more than last year. And our guest satisfaction scores for the month were higher than ever. We had a great month!" John was the front office manager at the East Asia Hotel, a 225 room full-service property located near a busy industrial park. John also served as the leader of the hotel's revenue management team. The team's role in the hotel was to establish room rates and manage rooms inventory based on the data generated by the hotel's property management systems (PMS), as well as the information provided by the hotel's sales department. He was in his own office, talking with Ada Chan, the GM of the property. "Well, I'm not looking at how we did compared to last year," replied Ada, "I'm comparing our change to our comp set's change. It's true we were up 4 occupancy points from last year, but the comp set was up just over 10 points." "But what about their rates?" asked John. "What happened there? Did their rates go up or down, and by how much? "Well, let's take a look at that," replied Ada, "and then we can assess what happened last month and see if we need to make our own rate strategy adjustments in the future." Answer the following questions: 1) Assume the ADR of the competitive set increased significantly (e.g., more than 7 percent) last month. What would be your assessment of the East Asia Hotel's revenue management performance compared to its comp set? 2) Assume the ADR of the competitive set decreased very significantly last month (e.g.. more than 10 percent). What would be your assessment of the East Asia Hotel's revenue management performance compared to its comp set? 3) Assume you were the hotel's GM. What additional revenue-related information would you want to have before assessing whether your property's revenue management team did a good job last month