Multiple Choice
Suppose a Holiday Inn Hotel has annual fixed costs applicable to its rooms of $1.2 million for its 300-room hotel.Average daily room rents are $50 per room and average variable costs are $10 for each room rented.It operates 365 days per year.What percent of occupancy is needed to breakeven?
A) 3.65%
B) 25%
C) 27.4%
D) 34.3%
Correct Answer:
Verified
Correct Answer:
Verified
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