Question
Compute the variance analysis for a metropolitan hotel’s rooms revenue and indicate the reasons for the...
Compute the variance analysis for a metropolitan hotel’s rooms revenue and indicate the reasons for the gain or loss in revenue compared to budget. The hotel’s budgeted rooms revenue is $13,175,251 based on total occupied rooms of 88,788 and an average room rate of $148.39. The property’s actual rooms revenue totaled $12,787,792 with occupied rooms totaling 93,945 with an average room rate of $136.12.
Enter your answers below. Round answers to two decimal points. Be sure to include a minus (-) sign for any negative amounts.
Price variance = $___
Use the information provided in Question 1 to answer the following:
Enter your answers below. Round answers to two decimal points. Be sure to include a minus (-) sign for any negative amounts.
Quantity variance = ___
Use the information provided in Question 1 to answer the following:
Enter your answers below. Round answers to two decimal points. Be sure to include a minus (-) sign for any negative amounts.
Total variance = ___
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