Analysis of Tourism and Hospitality Studies

This assignment is a compilation of various research articles and studies related to tourism and hospitality management. It includes topics such as performance indicators, crisis recovery, entrepreneurship, cultural tourists, sex tourism, creating tourism improvement districts, ICT competitiveness, online reviews, adaptation finance, destination marketing organizations, professional conferences, operations management, ecotourism, customer satisfaction, and main trends in the hospitality industry. The assignment requires a detailed analysis of these topics and provides a comprehensive understanding of the subject matter.

Finance and Funding in the
Travel and Tourism Sector

Table of Contents
INTRODUCTION...........................................................................................................................1
1.1 Importance of costs and volume in financial management of travel and tourism businesses
of Carnival Corporation & plc................................................................................................1
1.2 Analyse pricing methods used in the travel and tourism sector in Carnival Corporation &
plc...........................................................................................................................................4
1.3 Analyse factors influencing profit for travel and tourism businesses using Carnival
Corporation & plc cruise brands.............................................................................................7
TASK 2............................................................................................................................................9
2.1 Different types of management accounting information that could be used in avel and
tourism businesses using Dalata Hotel Group plc..................................................................9
2.2 Use of management accounting information as a decision-making tool for Dalata Hotel
Group plc..............................................................................................................................10
TASK 3..........................................................................................................................................11
3.1 financial ratios................................................................................................................11
Current ratio:..................................................................................................................................12
TASK 4..........................................................................................................................................13
4.1- Analysing sources and various methods of funding in accordance with the development
of capital projects associated with tourism...........................................................................13
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

INTRODUCTION
It has been known that finance department is very significant for the organisation which
helps them to find the financial position of the business in the market place and their position
amongst the competitors. Other than that, every organisation need proper fund in order to
operate their business, in that case financing plays very crucial role. Fund collection is not only
the part but firm need to manage, supervise and administrate it so that they can make strong
financial goals and objectives. Carnival Corporation & plc is a US based cruise company which
serves different tours and trips at the different destination all over the world in their cruise.
Organisation also serves luxury services to all tourists to serve them a wonderful travelling
experience within their cruise. The key aim of the current research is to analyse the different
aspects of success of the business which consist of various aspects such as pricing, cost etc. these
factors have great impact over the profitability of the venture. This is the reason firm need to
find the different managerial tools such as cost-volume-profit analysis, investment appraisal and
other methods of management accounting which helps them to enhance their profitability. Other
than that, in order to find the financial position of the firm, different ratios have been calculated
such as liquidity, solvency and profitability. This will suggest new techniques to the firm in
order to enhance the financial performance of the venture.
1.1 Importance of costs and volume in financial management of travel and tourism businesses of
Carnival Corporation & plc.
There are different types of cost that are being incurred by the venture in order to operate
their business such as salary to the workers, advertisement expenses, production cost etc. When
the venture fund on these activities, it helps them to enhance their profitability and revenue. All
these expenses are known as cost and this plays very significant role in the venture in order to
increase the earnings (Waudo and Stanley, 2015). When all of the expenses of the firm, this can
reduce the profit margin of the venture and if the firm make balance expenditure, then it can
enhance the revenues of the venture. Carnival Corporation & plc operates in different types of
cruise, need to modify their operations and activities according to the needs and wants of the
customers. Other than that in order to attain the aim and objectives of the business, firm need to
have control over their different expenditures (Sun and Kim, 2013).
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Cost-Volume-Profit (CVP) Analysis is the significant cost volume accounting tool which
helps the firm to gain the significance of short term management decision. There are several
elements that are included in the cost such as sales volume, selling price etc. the key aim of this
tool is to manage the different elements of the cost so that they can reduce the expenditure made
by the business (Pittman and McLaughlin, 2012). Cost is being classified under two categories
that are fixed and variable which is sub divided into manufacturing, administrative, marketing
and others. CVP analysis helps the venture to perform the sensitivity analysis which helps them
to enhance their profitability by enhancing the number of tourist in their cruise.
There are many benefits which are included in the analysis of cost volume profit.
Profit planning- Cost-volume-profit is very much important finding the factors which will most
profitable.
Decision-making- CVP makes the management to understand about various elements which are
in relation with each other. It makes them to take decisions effectively and efficiently.
Price determinants- CVP is the best tool which can help the management to decide the prices. It
is because CVP shows the method which will make maximum profits for the company.
Preparation of the budgets- Cost-volume-profit makes the company to understand the various
elements which are necessary for the preparation of budget.
Cost control- Cost-volume-profit analyses the impact of cost on the income generation. This
helps in finding the methods to control the cost.
It has already being known that there are several costs that are incurred by the business,
that are as follows:
Fixed costs: It is the cost which remains stable whether the production increases or
decreases. In simple words it can be said that this cost have no effect on change of production
unit. There are different cost that are associated with the fixed cost that are salaries to workers,
office lease, utility bills, trade association membership fees, web hosting, banking services, etc.
there are different expenses that organisation need to pay in order to manage their activities and
operations (Philippon, 2015). If the firm is spending huge amount on these activities, then it can
enhance the operating cost of the business and it will have negative impact over the financial
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statement of the venture. All these expenses are very much significant for the firm, such as
salary to the workers. This will help the organisation to satisfy their workers and if they are
satisfied, then they can serve better services to the customers. It can be said that income
statement have great impact by the satisfied employees and customers and will enhance
profitability of the organisation, thus, it is very significant for the venture to forecast the
different fixed expenditure of the business so that they can plan it in effective manner and judge
the sales over the expenditure. So, finance manager will be able to make proper planning to
reduce expenditures in the travel business (Pantano and Di Pietro, 2013).
Variable costs: This is the cost which is opposite to the fixed cost. It stated that these
cost changes and the production changes. There are several costs that are included in the variable
cost such as tax rates, material, visa costs etc. if the sales rate of the organisation is decreasing
then it has adverse impact over the organisation's profitability and the financial management of
the will be damaged (Mihalicand Buhalis, 2013). Variable cost is very significant for the venture
because it has direct impact over the profit margin of the firm. If the variable cost increases, then
it will decrease the profit margin of the business. Other than that needs and wants of the
customers also plays significant role in the cost of venture. If the needs of the customers are
increasing then the firm need to invest in the labour and transport. Thus, it is significant for the
venture to have proper planning for the variable cost so that they can enhance their profit.
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Break even analysis is also one of the important tool which helps the venture to run their
business smoothly by analysing the sales volume of the Carnival Corporation & plc by
recovering their outgoing cost. With the help of break even and Cost-Volume-Profit-Analysis,
firm can make effective decision regarding the fund investment and to reduce the future losses.
ost and volume are very important in financial management in travel business as with the help of
these tools, manager of Carnival Corporation & plc can gather reliable information and can make
control over unnecessary expenditures (Kastenholz and Carneiro, 2013). It helps the firm to gain
the expected profit in the same and coming financial year by analysing the variable and fixed
cost. With that, by estimating the volume and cost. Firm can find out the areas where they need
to modify.
Total cost- These are the cost which shows about the final amounts of expense which is incurred
by the company. These are in relation with the fixed cost.
1.2 Analyse pricing methods used in the travel and tourism sector in Carnival Corporation & plc
There are several pricing methods by which firm can set their prices of products and
services. Other than that there are several factors at which selection of the pricing decision is
dependent up such as objective, size and scope of entity. In order to gain high profit and
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Illustration 1: Break even analysis
(Source: Break even analysis, 2016)

customer base, Carnival Corporation & plc have selected the different pricing strategies, which
as follows:
Cost plus pricing: It is very much effective pricing strategy which is being used by the several
organisations in order to achieve their short, medium and long term objectives. Carnival
Corporation & plc have adopted this strategy in order to gain high profit margin by selling their
products and services (Gössling, 2015). In this strategy, manager of the cited venture add all the
direct and indirect overheads of the business and then ad profit percentage over the total cost.
Profit margin is being set according to demand and supply of the products to the customers.
Such as cited organisation want to earn $200,000 then
Mark up = Desired profit/ unit produced
Unit produce is 100
Mark up = $200,000 /100
= $2000
In order to find the sales price of the product, mark up price is being added to the over all cost of
the venture. It being known that total cost is equal to fixed plus variable cost that is $4000
The sales price = Cost + Marku up
Sales price = $4000 + $2000
Sales price = $6000
Market-led pricing method: It is one of the most common techniques which is being used by
the tour and travel organisation. Carnival Corporation & plc may set their price high, when they
found that the season is high and customer demand is increasing. The season may consist winter,
wedding, summer holidays etc. but at the time, when the season is off and customers demand is
low, at that time, firm need to keep their prices low so that they can attract customers with the
help of low prices (Dhiman and Kumar, 2015). This will help the firm to enhance their profit
margin in the high as well as in the low season. Seasonal pricing supports to meet with the
expected profit ratio in a particular financial year, by this way entity will be able to achieve its
break even point. This strategy is also known as competitor based pricing strategy. It is being
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known that there are several players exist in the market place, by offering services at the
effective prices, helps the firm to attract and retain large customers.
Marginal cost pricing: This is the calculative technique of setting price of particular service or
product. This type of pricing strategy is very much flexible because the rate of fixed cost is very
much high and variable cost can be changed any time with the help of effective planning.
Carnival Corporation & plc can use this pricing strategy in order to set their prices. It is being
calculated by total cost by total quantity produced by venture (Dhiman and Kumar, 2015).
MC = Total cost / Quality
This type of strategy is very much impressive because the cited organisation can change their
prices at any time in order to meet the needs and wants of the customers. Such as customers want
food facility in the cruise, then the management of the cited venture can robust their margin.
Discounting pricing: This type of strategy is being used at the time when the season is off or the
demand of the customers is very much low. This helps the venture to attract and retain large
number of customers with that firm can serve the high level of experience to the customers at the
low prices. It can be said tat it is the quick response to the needs and wants of the customers. It
has been known that there are large number of competitors that exist in the market place, in
order to gain the competitive advantage, firm can set the low price so that they can attract and
retain large number of customers.
Other than that top down, discounting pricing, cost led etc. there are several other
strategies that can be used by the venture in order to set the best pricing. Currently the firm is
using the cost plus pricing method (Dhiman and Kumar, 2015). This helps them to set their price
according to the three aspects that are cost of production, competitor price and customer’s
expectation. On the other hand Royal Caribbean Cruises Ltd is using the discounting pricing.
Cost plus pricing helps the venture to set the profit margin according to customers demand.
Carnival Corporation & plc is very big organisation so cost plus pricing is the best way to set the
prices of product and services.
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Value based price- It is the methods of setting the price primarily. It is based upon the factors
which are in accordance with the services given to the customers. For example, if the value is
low then price will be also low and if it will high then price will also be high.
Competitive pricing- It is that method of pricing which in relation with the prices which are
charged by the competitors.
Seasonal pricing- In accordance with this method prices are selected on the basis of seasons.
There are two peaks in the seasonal pricing. If the peak is off, then the prices will be low. On the
other hand if there is peak season, them the prices will be high. There are various seasons. In
winter season prices will be high, in winter they will be lowest, in spring- medium and in
summer prices will be highest. All the prices of carnival cruise are set in accordance with the
seasonal pricing.
1.3 Analyse factors influencing profit for travel and tourism businesses using Carnival
Corporation & plc cruise brands
Every organisation have key aim is to earn high profit, in order to do so they need to
conduct several activities. Such as providing discounts to the customers, keeping low prices for
their products and services, increasing price at the time of season etc. other than that it have been
known that there are several other factors that have great impact over the profit of the
organisation. Factors that have great influence over the income of Carnival Corporation & plc
are as follows:
Economic environment: There are several factors that are included in the economic
factors such as recession, inflation, customers income etc. There factors can hamper the
profitability of firm or can enhance the same. Such as at the time of recession, customers do not
like to travel to the different destination, thus demand for the holiday packages reduces. With
this way the profit of the organisation start decreases. In order to come out from this situation,
firm can provide different discounts in order to attract and retain customers (Belleflamme and
Schwienbacher, 2013). The country which is having the good records of the employments and
the people who are having good income, they can think for the different holiday packages. Thus,
from this strategy, demand and income of the venture start increasing.
Political environment: It is one of the major element which have great impact over the
profitability of the venture. There are many factors that are included in the political factor which
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can change anytime such as Tax rates, visa policies etc. it may happen that the government of the
country increases the service tax rate, then the price of the services offered by the venture also
enhances. In this situation, it may happen that the customers start reducing their interest from the
organisation (Waudo and Stanley, 2015). Every county have their own visa policy, it may
possible that customers prefer to travel those countries whose visa policy is flexible and easy. If
the country have tough visa policy, then customers will not prefer to travel such country. Thus,
the sales of those organisations of the country will reduce.
Current trends: It is also one of the important factor which have great impact over the
profit of the venture. It is being known that there are several purposes for which people travel for
one country to other. Other than that when they travel, they also analyse the different services
offered to them. Nowadays all the things are taking place with the help of internet which start
from booking to check in. such as when the business man is travel from one country to the other,
he finds that his or her purpose have been completed or not. If the purpose is not completed then
it will reduce profit margin of the venture (Sun and Kim, 2013).
Seasonal variations: It is also one of the important which have great impact over the
profit of the organisation. There are several seasons at which firm can increase their price and
earn high profit. Such as wedding, winter, summer holidays etc. at this time, firm need to serve
the different offer and packages to the customers so that they can attract and retain large number
of customers (Pittman and McLaughlin, 2012). But at the time off season, customers do not like
to travel to different destination, this reduces the demand of the people to travel and visit
different destination. At that time sales of the venture reduces.
Staff: In travel and tourism industry, skilled employees plays very significant role, this is
because they are the only one who can work with the different technologies in order to serve
high level of satisfaction to the customers. If the employees have talent to communicate with the
customers, they can attract and retail large client. On the other hand if the organisation do not
have skilled labour, they can not succeed and will not serve excellent services to the customers.
This will reduce the loyalty of the service users and customer will not prefer the same
organisation. So the profit of the venture decreases and it will have adverse impact over the
venture (Philippon, 2015).
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Planning: Customer needs and wants plays very significant role in the organisation, if
the venture do not plan their different activities and operations in effective manner, then they
will not able to cater the needs and wants of the customers. If the planning is not proper, then
this will reduce the profit of the venture. Other than that package planning is also significant part
of planning the different activities. If the firm is not able to plan the package at reasonable rate,
they will not able to attract and retain customers and this will reduce profitability of the venture.
TASK 2
2.1 Different types of management accounting information that could be used in avel and
tourism businesses using Dalata Hotel Group plc
Management accounting is the tool which is being used by the venture to make the
effective decision of the business. There are several techniques that are included in the
management accounting which can helps the venture to measure their financial performance.
With the information collected with the help of management accounting, firm can find their
week spots. This will help them to take the corrective action in order to reduce the week spots.
Different type of management accounting tools are as follows:
Break even analysis:
 It is very significant tool which is being used by the venture in order to make the
effective decision.
 With the help of this tool, firm can able to analyse the sale target of the employees and
how much profit they are going to achieve in the coming time (Pantano and Di Pietro,
2013).
 Firm first identify that how much variable expenses is being paid from the sale revenue
and then finds that what amount of sales needs to be made to cover entire cost in the
business.
 This tool helps the managers to determine the net profit by paying all the sales expenses.
With that it also helps the organisation to determine that how much extra units will be
needed to sold in the market (Mihalicand Buhalis, 2013).
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 It can be stated that break even analysis is the one of management accounting
information that can be used to make business decisions.
Variance analysis:
 It is also one of the important method of the management accounting which serve
effective information in order to make the effective decision of the organisation
 This method helps the firm to find the positive and negative performance of the
organisation by comparing the budgeted value with the actual value (Kastenholz and
Carneiro, 2013).
 If the organisation have good performance then it is being considered under the strong
point in the formulation of strategies It is being used to make the decision under the domain where management need to make
the serious attention.
Budgetary:
 It is the different type of statement which is being made by the organisation
 It consists of cash inflow and outflow of the organisation in order to find their income
and expenditure (Gössling, 2015)
 This is tool which helps the organisation to plan their expenditure in such a way they can
earn high rate of interest on their investment.
 This method helps the venture to have proper control over their expenditure so that they
can earn high profit from their customers.
 One of the significant advantage of using this method that it helps the firm to have
control over their cost and the negative impact can be reduces under the cash flows.
 It has been stated that budget is the one of the significant tool of making business
decision (Dhiman and Kumar, 2015).
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2.2 Use of management accounting information as a decision-making tool for Dalata Hotel
Group plc.
Management information system, budget, financial system are the significant management
accounting information tool. This will help them to use the different techniques in the several
aspects, that are as follows:
Decision making: Management accounting information includes several accounts such as
balance sheet, profit and loss account etc. with the help of these accounts, firm can easily
estimate the difference between the actual and estimated sales. This will help the Dalata Hotel
Group plc to make the effective decision which helps them to implement the different strategies
in order to enhance their sales (Dhiman and Kumar, 2015).
Comparison with trends: Management accounting information collect all the financial
information about the organisation of different years. When the firm compare the information of
past year with the current year, they can find that weather they are succeeding or not. With the
help of comparison, firm can implement the different trends which helps them attract and retain
large number of customers (Belleflamme and Schwienbacher, 2013).
Forecasting: It is being known that comparison of present with past helps the venture to
estimate future. With the help of management information system, firm can find the areas where
they are lacking behind. In such circumstances, this will help them to implement the different
strategies by which they can reduce the gaps.
Raising capital: This is the another aspect at which management accounting information is
being implemented and used. This helps the venture to find the different sources from where the
firm can raise the fund and need top pay low interest. As in off season company can offer
discounts by this way cash inflow will get higher (Waudo and Stanley, 2015)
Meeting budget and objectives: Implementing of these techniques of the management
accounting information, firm can able to achieve their objectives. Key aim of the organisation is
to enhance sales and increase profit. By collecting and analysing this information, organisation
can attain this objective (Sun and Kim, 2013).
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TASK 3
3.1 financial ratios
To evaluate the performance of Dalata Hotel Group Plc, they find their financial ratio.
These ratios help to find whether the company is getting profits or loss (Jacob, 2017). Ratios are
needed to compare the other components of financial statements.
Ratios of Dalata Hotel Group Plc
Ratio 2015 2016
Current ratio 2.84 1.44
Quick ratio 2.72 0.83
debt/ equity ratio 0.47 0.43
Assets turn over ratio 0.39 0.31
Inventory turn over 89.5 69.4
Return on assets 3.74 3.78
Current ratio:
The current ratio of any company can be calculated on dividing the assets of that
company by liabilities of the company. It is calculated to find the ability of the company of
paying long term and short term obligations. In the context of Dalata Hotel Group Plc, the
current ratio has been decreased by 1.40 which, probably is not a good sign for the debt paying
of Dalata Hotel Group Plc. So it can be easily said that the liquidity of this company has been
highly decreased from 2015 to 2016.
Quick ratio:
The Quick ratio of a company can be find by dividing the difference of assets of the
company and inventories by liabilities of the company. It is often called acid-test ratio. By
calculating the quick ratio the main concern of the company is to find the highest liquid assets.
Now, by the above table, we found the quick ratio of Dalata Hotel Group Plc which was 2.72 in
2015 and 0.83 in 2016. As we know the lower quick ratio, the higher chances of loss for the
12

company, and this decrement shows that Dalata Hotel Group Plc is heavily dependent on its
other assets for payment of short term liabilities (Sezgin and Gumus, 2015).
Debt/Equity ratio:
Debt or equity ratio is calculated to find the relationship between the company's
liabilities and the stockholder's equity. By finding this, the company can find its wisdom or
condition. The calculation of debt equity ratio for Dalata Hotel Group Plc shows the slight
decrement(0.4) 2015-2016 which is not so good for the company.
Assets turn over ratio:
The assets turn over ratio can be measured by dividing the sales of company by average
of total assets of that company (Mak, 2016). Assets turn over ratio is calculated to find how
efficiently the company is generating its revenues by distributing its assets that is calculated
above regaeding the Dalata Hotel Group Plc which is decreased from 0.39 to 0.31 in 2015-2016.
This is not a good sign for this company as the decrement in assets turn over ratio indicating that
the company has not been generated much revenues for the year 2015-16.
Inventory turn over:
Inventory turnover of a company is calculated as sales of the company divided by its
average inventory (Becker, 2016). This turnover ratio is to know for how many times an
inventory of the company has been sold or replaced in a particular time. In this scenario, the ratio
is decreasing from 89.5 to 69.4 which is very low. It indicates the low movement of the
inventories of Dalata Hotel Group Plc which is bad for the growth of this company (Pike,
2016).
Return on assets:
Return on assets indicates the profitability of a company in terms of its total assets. It
measures how a company manages its assets to get maximum profits which is calculated as
dividing the net income by its total assets (Robinson and et. al. 2016). The calculation of it for
Dalata Hotel Group Plc shows a slight low that 0.4 (3.78-3.74) by the year 2015-16 which shows
the company is not properly managing its assets. In order to do that it should get high ratio of
return on assets (Gurtner, 2016).
Working calculation
Assets over liabilities
2015- 861/861= 1:1
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2016 985/985= 1:1
TASK 4
4.1- Analysing sources and various methods of funding in accordance with the development of
capital projects associated with tourism
Covered on next page
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15
There are many sources from which funds can be raised for the
further development of capital projects which are in relation with
tourism. Every business has different sources for raising the funds.
There are various activities which are done by the Dalata Hotel
Group PLC. For handling all the activities in the effective and
efficient manner the company needs to have right amount of funds.
The project whether short term or long term, both requires some
amount which will suitable to achieve all the goals and objectives in
proper manner.
It is very much important to select that source for raising the funds
which will be most suited for the organisation. The cited company
have to chose the best sources from many. The sources which are
available from which the business can raise their funds are as
follows- owner funds, bank loan, debentures, equity etc. There are
many internal sources too.
Bank loan is most effective and efficient source of funding. There
are various types of loans which are provided by them. It helps in
increasing the capital for completing the specific project of
company. Huge amount of capital can be generated through this
source. Bank first does the proper research of the organisation and
Banks select the rate of interest on the loans which are provided by them.
It is advantage of this source that high amount of fund can be raised
through this. On the other hand, it has some disadvantage too, banks
charges very high amount of interest rates on the projects which are
based on the long term. It can increase the cost of company because they
have to pay for the long term to the banks. The cited organisation has to
do proper research before selecting the bank for the loan to increase the
capital.
Other sources of the funding can be equity. It makes the company to
introduce some number of shares in the market. This will attract the
individuals to invest in the business by buying those equity shares. For
gaining the attention of people the firm have to convince them they will
surely get some return in accordance with their investment.
The persons who have invested in the company gains the right to involve
in the decision-making process. They get some controlling power on the
organisation. The powers which are given to investors are used by them
for their own advantages. Introducing equity shares in the market is the
considered to be the best source of funding. But for these the businesses
have to analyse all the situations of market in the effective and efficient
manner. This method is best for cited organisation in the tourism sector.
By this they will be able to raise the fund and increase the project capital.
It will be very much helpful for them in their further development.
There are many sources from which funds can be available.
 International- There are many federations which are working at the
international level to provide the funds.
 Regional level- At the regional level there are European unions which
can provide the loans for cited organisation.
 National- These are the funds which are available from the
government of UK.
 Organisations- There are many departments in the organisation which
have some savings. Funds can be taken from those savings.
 A local council- It is council which is situated at the local level for
providing the loans.
Funds can be also raised from the IBRD. This is an international
financial institutions. It provides the funds to companies of those
countries where income generation at the middle level. It will not be
suitable for the Dalata Hotel Group PLC because they are
established in the country where revenue generation is high.
These are some sources which can be used to raise the funds. There
are many activities which are to considered while selecting the
source of funding. It will help the company to complete the specific
project in effective and efficient manner. This will lead them
towards the further development. All the customers of the business
will be highly satisfied by the effective use of all the funds which
are raised by them. It will also increase the skills and efficiency of
all employees.
Projects Funds Source
Fast rail links from London to
Birmingham.
14.2
Billion
UK Government
New branches in foreign counties. 14 Billion European union
Using environment friendly
technologies.
5 Billion Local council
Changing structure 1 Billion Department of
organisation
Expansion 15 Billion International
Sources and Various Methods Of Funding In Accordance With The Development Of Capital Projects Associated With Tourism
REFERENCES
Jacob, M., 2017. Entrepreneurships and Startup Programmes: Opportunities in Travel and Tourism. Atna Journal of Tourism Studies. 12(2). pp.51-65.
Sezgin, M. and Gumus, M., 2016. The Evaluation of Beysehir Lake National Park (Konya-Turkey) in the Framework Ecotourism. Forest.14. pp.16-8.
Robinson, P. and et. al. 2016. Operations management in the travel industry. CABI.
Mak, J., 2016. Creating Tourism Improvement Districts to Raise Stable Funding for Destination Marketing and Promotion.(No. 2016-2).
Pike, S.D., 2016. Destination Marketing Organizations–Research opportunities in an era of uncertainty. In Book of Abstracts-6th International Conference on Tourism.
International Association for Tourism Policy (IATOUR).
Gurtner, Y., 2016. Returning to paradise: Investigating issues of tourism crisis and disaster recovery on the island of Bali. Journal of Hospitality and Tourism

CONCLUSION
This report includes about the importance of cost and volume in relation with the
management of financial situations. It founds about the various methods which can be used for
the pricing in travel and tourism industry. There are many factors which are responsible for
influencing the level of profits in Dalata Hotel Group PLC. Different types of measures are there
which can be used to handle the data of travel and tourism. Performance of cited organisation got
decreased in the 2016 as compared to the 2015. However, this report finds about the various
methods or sources of funding which can be used for increasing project capital ensures
development of tourism industry.
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REFERENCES
Books and Journals
Becker, E., 2016. Overbooked: the exploding business of travel and tourism. Simon and
Schuster.
Beiglböck, M and Penkner, F., 2013. Model-independent bounds for option prices—a mass
transport approach. Finance and Stochastics. 17(3). pp.477-501.
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