The Millennium Square Inn’s total room revenue is generated by its suite and standard rooms. Total revenue generated by...
The Millennium Square Inn’s total room revenue is generated by its suite and standard rooms. Total revenue generated by the suit room sales is $95,000 in January. Also, total revenue generated by the standard room sales is $67,000 in the same month. The management forecasted that there will be 8.00% increase in revenues for suites and 6.00% decrease in revenues for standard rooms in February. Based on the information given, calculate the projected total room revenue for the Millennium Square Inn in February.
Homework Answers
Calculate total revenue
| Total revenue | Standard room | Suite | |
| January | 95000 | 67000 | 95000-67000 = 28000 |
| February | 62980+30240 = 93220 | 67000*94% = 62980 | 28000*1.08 = 30240 |
So total room revenue for Millennium Square in February = $93220
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