Reference no: EM132616899

When demand for hotel rooms increases, the average selling prices for those rooms typically increase as well. In the food service business that has not historically been the case. Fluctuations in consumer demand (e.g., volume differences between high demand Saturday nights and lower-volume Sunday nights) in restaurants do not typically result in menu price changes. Given that both hotels and restaurants are part of the hospitality industry, how do you, as a revenue manager, account for these fundamental differences in approach toward strategic pricing? Please explain as detailed as possible.