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Finance for Travel and Tourism Assignment

   

Added on  2021-06-17

12 Pages2728 Words6 Views
Running head: FINANCE FOR TRAVEL AND TOURISMFinance for Travel and TourismName of the Student:Name of the University:Author’s Note:

FINANCE FOR TRAVEL AND TOURISM1Table of ContentsIntroduction......................................................................................................................................2Expansion Plan and Market Research.............................................................................................2Sources of Finances for the Expansion Plan....................................................................................4Cost-Volume-Profit (CVP) Analysis for computation of the breakeven point...............................5Pricing Techniques..........................................................................................................................7Recommendation.............................................................................................................................8Conclusion.......................................................................................................................................9Reference.......................................................................................................................................10

FINANCE FOR TRAVEL AND TOURISM2IntroductionThe main purpose of this assignment is to formulate an expansion strategy for a traveland tourism Industry. The company which is selected for this assignment is Viator companywhich is a trip advisor company. The assignment will be considering various financing optionswhich is available to Viator company as it pursues its expansion plan. In most of industries around the world, development and growth have been seen, traveland tourism industry is no exception in such an area. The industry has been rapidly developingdue to the various new spots that are coming up for tourists. The demand for tourism industry isat peak in today’s world as the younger generation always wants to explore new areas andlocation for the thrill and adventure it serves them.Overview of the CompanyViator company is engaged in travel and tourism business and also serves as a tripadvisor for its client. The company operates in countries like UK, other parts of Europe,Australia, US and some parts of North America. The company has a plan for travel to anydestination which is desired by the clients. The business model of the company is to provide thebest travel experience to the customers(Viator.com. 2018). The name of the company itself inLatin means travel. The company has a strong and well develop website which has ten differentlanguages and books tickets for any destination place.Expansion Plan and Market ResearchThe company is planning to further planning to expand its business and add new tour anddestination spots for its clients. The prospect of expansion in any new market will requireadequate amount of resources and capital to establish links with hotels, tour guides, Visa andpassport clearings and other similar activities (Finch 2016). The business attracts the younger

FINANCE FOR TRAVEL AND TOURISM3generations more and therefore the plan of the management is to add destination spots which areknown for its parties or adventure sports to which such a generation is attracted. The market of travel and tourism industry have been developing and growing for adecade now and this significantly add to the GDP growth of the country. However, it is to benoted that such an industry is affected by the economic cycles and inflation. Another researchshows that if the government of the country takes necessary steps like beautification projects,maintenance of sites which has historical importance. The general services which are offered byany tourism company are booking of flights or train or any travelling tickets, booking of hotelsand restaurants for the stay and foods, hiring of a tour guide, arrangements for adventure sportsfor younger generation and similar other activities. A recent market survey which was conductedfor the purpose of finding the additions which Tourism Industry makes to GDP in UK. Theresults of the survey are depicted in the graph which is presented below:2012201320142015201620170.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%6.6%4.2%1.5%4.8%5.3%6.4%GDP Contribution in UKFigure 1: (Chart showing Contribution to GDP by Tourism Industry)Source: (Created by Author)

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