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What is the definition of a price fence

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Reference no: EM133017168

Please answer the following questions regarding price fences.

1. What is the definition of a price fence?

2. What is an example of a physical price fence?

3. What is an example of a non-physical price fence?

4. Imagine that you were the revenue manager for a Strip hotel. You have been asked to make a decision regarding price fences for New Year's Eve. New Year's Eve is a high demand time. December 31 has the highest amount of demand, in fact there is demand for 100% of your rooms. For December 30, there is demand for 60% of your rooms. For January 1, there is demand for 30% of your rooms. What kind of price fence would you use for this time period and why?

5. Based on your answer to number 4, what do you anticipate would be some of the challenges for the front desk in executing the price fence you choose?

Reference no: EM133017168

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