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QUESTION
Fun with financials.
1. Fun with financials. A copy of the 2015 edition of Trends in the Hotel Industry, published by PKF Consulting, is available in the Assignments area of our WebCampus site. Please use the metrics provided in this publication and use the percent of gross revenue method to answer the following questions.
Show more You own a hotel called Mac Hotel, with gross revenues of $10.5 million in 2014. Let's assume that the hotel's property operations and maintenance (POM) expenses were in line with those of other, similar properties. Please calculate our 2014 POM expenses (in dollars), under the each of the following conditions.
a) A full-service hotel in the New England & Middle Atlantic region.
b) A limited-service hotel in an average rate of $176
c) A convention property in the North Central region.
d) A resort property with 485 rooms.
