Answer:
Occupancy Index=111
Step-by-step explanation:
-Occupancy rate INDEX is defined as the ratio between the percentage occupancy of your property to the percentage occupancy of the competitive set times 100%
-Given that your property's occupancy rate is 85%. The occupancy rate of the competitive set is:
[tex]Occupancy=\frac{Rooms \ Sold}{Rooms \ Available}\\\\=\frac{115000}{150000}\\\\=0.7667\\\\=76.67\%[/tex]
-The Occupancy Index is then calculated as follows:
[tex]INDEX=\frac{Porperty \ OCC}{Competitive \ OCC}\times 100\\\\\=\frac{0.85}{0.7667}\times 100\\\\=110.8647\approx 111[/tex]
Hence, the approximate occupancy index for the hotel is 111