What is the ideal probability of walking a guest

Reference no: EM13117959

Mariott is a low-end, all-inclusive resort hotel located near Siete Rios. mariott estimates the contribution to profit per room-night is $40 if the room for occupied rooms. However, management is dismayed at the proclivity of its guests to fail to honor their reservations, and is considering establishing an overbooking policy. Mariott estimates that the penalty to "walk" a guest whose reservation cannot be honored due a lack of space is approximately $100. What is the ideal probability of "walking a guest."

Reference no: EM13117959

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