The marketing department of Giggo Hotels has estimated the number of hotel rooms (it has 120) that could be sold at different price levels. This information is shown below:
|
Number of rooms sold |
Price per room per night (£) |
|
120 |
90 |
|
100 |
105 |
|
80 |
135 |
|
60 |
155 |
|
50 |
175 |
Giggo Hotels has estimated its variable costs at £25 per room per night. Calculate the occupancy rate that Giggo will need in order to maximize its profits.