Question: Really struggling with setting up Excel Solver and all the constraints for these questions. Can you also please provide an actual excel spreadsheet with your
Really struggling with setting up Excel Solver and all the constraints for these questions. Can you also please provide an actual excel spreadsheet with your findings and the equations on how to solve the problems below. Hotel Room Pricing A hotel has rooms During a typical week in the holiday season, the hotel is busy on Monday, Tuesday, Wednesday, and Thursday nights, primarily with business people, but there is generally space available on Friday, Saturday, and Sunday nights. Hotel management provided the following demand estimates, as shown in Table : Assume linear demand demands. functions over the range of all nonnegative room rates and demands. Room Rate Days Estimated Demand $ Mon, Tue, Wed, Thur Fri, Sat, Sun $ Mon, Tue, Wed, Thur Fri, Sat, Sun Assignment What is the revenuemaximizing room rate if the hotel posts only a single rate good for any day of the week? What weekly occupancy results? What are the revenuemaximizing room rates if the hotel posts a "midweek" rate good for the peak demand period MTWTand a different "weekend" rate good for Friday, Saturday, or Sunday. What is the new weekly occupancy? What is the revenue increase? Another option is for the hotel to offer a discounted weekly rate in order to attract vacationers who will stay for the full week. Management estimates that demand will be per week at $week and per week at $weekAgain assume a linear demand curve. If the hotel posts a weekly rate and a single daily rate good for any nightwhat are the revenuemaximizing prices? What is the occupancy rate? What is the revenue gain? If the hotel posts three rates: a midweek rate, a weekend rate, and a weekly rate, what are the revenuemaximizing prices? What is the occupancy rate? What is the revenue gain?
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