Consider applying Revenue Management to a golf course. How much additional revenue per day can the golf course make by shortening the tee time from 10 minutes to 9 minutes?
Use the following to calculate your answer.
The course is open for 12 hours/ day
The tee-time interval is 10 minutes. ( every 10 minutes a partt of up to 4 can bagin a round of golf
Players require four hours to complete 18 holes
Players need to complete all 18 holes before the course closes
The maximum number of players per party is 4. (Max players per tee time)
Each player pays a maximum of $145/ per person on weekends.
1. Using these data the maximum number of parties ( up to 4 golfers at a timer) per day is ________. When the tee-time intervals is 10 minutes, the maximum total revenue per day is _________.
2. Now, let’s look a tee-time intervals of 9 minutes. All other assumptions above still apply. Using these data, the maximum number of parties per days is ______. How much extra revenue per day is possible with the new 9-minute tee-time intervals?_______.