Pricing for Hill Tourism Destination

Pricing an alpine tourism is unlike pricing a tangible product. As a part of overall marketing strategy pricing a destination has lot of intricate issues that starts from the basic characteristics of the destination elements to the changing demand aspects. At the time of packaging, an alpine destination by a tour operator or destination promotion organization (DPO), a simplified model, is used that is not essentially limited to an absurd analysis of attraction features through FAM trips a priori. In almost all Indian leisure destinations, tourists are found to be price sensitive and per capita spending is not so high. So, an Indian alpine destination-specific model, based on simple linear regression equation, largely explaining the spending of tourists and thereby implying a modified landscape value has been explained here.

Understanding the Importance of the Banking System in the Romanian Tourism and Hospitality Industry

This chapter aims to provide an exhaustive overview of the importance of banking system in Romanian tourism and hospitality industry. Romania is a member of the European Union since 1 January 2007, but is not a member of the Schengen area and haven't adopted the euro currency yet. The banking system plays an essential role in financial intermediation being a major factor in raising productivity of Romanian tourism and hospitality industry. From a long-term perspective, a global perspective on the banking system can lead to the development of tourism and hospitality business. The interdependence between banking system and the tourism and hospitality industry in Romania is an increasing challenge for public and private investment. However, Romania's tourist attractions are still not capitalized due to the lack of financial investments. The Romanian tourism potential is significant, but the relatively low number of foreign tourists and even indigenous tourists reflects the lack of relevant financial investments and effective promotion.

Restaurant Management System (RMS) and Digital Conversion

Customers expect a high standard and fast service from enterprises. In addition, competition among enterprises necessitates that enterprises renew themselves, meet customer expectations at maximum level, and raise the standard of products and services. Traditional restaurant management is inadequate to provide all this. This situation led to search, and restaurant management systems (RMS) have been developed. RMS, which emerged in the 1970s, are now much more developed, facilitating both the operation and management process and offering a professional management opportunity. RMS has made it possible for the restaurants to institutionalize and establish chain enterprises. Moreover, income and expense control can be made more effective via RMS. This chapter explains RMS and the operation of RMS via a sample program.

Academic Tourism

This chapter aims to present the academic tourism segment as a rising trend that can improve indicators, both academic and marketing, of tourist destinations. On the one hand, economistic arguments were presented; on the other, the academic tourist can be highlighted as a source of reliable information about the destination. That is, returning to their place of origin, the individual will share their experience with other people, including students, commenting on their experiences at the university, and of course, on the receiving destination. At this time, both the power of attraction of their listeners to the place will increase and will act as a paradiplomacy. However, both financial aspects (impacts of academic tourism) and marketing (influence on the image of the destination) are strong arguments for betting on this segment, both from the academic literature, as well as destinations with good universities.

Sustainable Development and Ecotourism Consciousness

This chapter focuses on how people of Kallakurichi, Tamil Nadu, India can become conscious of ecotourism, bio-cultural diversity, and sustainable development, vital for both present and future. It utilized a sustainable development framework for considering biological and cultural perspectives. The primary target audience of this research was 100 local people of this lesser known and sparsely populated area, and 31 questionnaires were found to be useful. Simple random sampling was used in this regard. The collected data were analyzed using mean, t-test, Pearson's product moment correlation, and regression analysis. The researcher concluded with findings that point to the need for shared community authority, management, and decision making; mutual benefits; recognition of the rights, values, norms, power structures, and dynamics of local populations; respect for belief systems as well as traditional and local ecological knowledge; and the importance of contextual adaptation.

Assessment of the Internal Control System in the Accommodation Firm and Its Relation to Performance

An effective internal control system will help achieve performance and profitability targets within the core objectives of the business, help to prevent the need for loss of resources, and ensure that financial reporting is realistic and reliable. The purpose of this chapter is to identify the components of the internal control system in the enterprise and to show whether these factors affect the firm performance. When the results of the study are evaluated in general, it has been determined that the elements of the internal control system of the companies have an effect on the firm performance. According to this, the control environment 1, the control environment 2, the risk evaluation, the control activities, the information and the communication, the monitoring variables are effective on the positive side and the control variables on the firm performance have positive effect on the firm performance of the operation bed capacity, the operation period, and the existence of the internal control unit.

FIBRAs as a Tool for Investment Diversification in the Mexican Hotel Sector

This chapter seeks to make an approach to the financial instrument called REIT, Real Estate Investment Trust, specifically in the hotel industry in Mexico. This tool has allowed many investors to make business in the real estate sector, and it has provided a wider range of hosting services. This research takes us into the strategies the REIT leader in the hotel industry has implemented to position themselves as such. In large part this is explained by network theory and agent – principal theory. The study method is based on a literature review of several theories, as well as the study of a successful case. The analysis of results presents and describes the features that have contributed to business success.

Indian Tourism Industry

The tourism industry certainly has been a formidable pillar as an unfailing and reliable source of revenue and capital for many nations. Many countries have been elevated from poor to appreciable economic statuses as a result of the invaluable contributions their tourism sectors have succeeded in adding to their overall economic growth. Tourism is a major engine of economic growth and an important source of foreign exchange earnings in India. Over the last decade, India has been the fastest growing tourism region in the world. This chapter primarily aims and seeks to identify and examine the paradigm shifts in the tourism industry over the seeming years and how the trends have behaved in India. It seeks to study the current trends in the tourism industry and evaluates the role of tourism in economic development. The future outlook is bright for the tourism sector, and the region is expected to maintain a high rate of growth well into the next century. The chapter contributes to an improved understanding of economic growth of a country because of tourism development.

Guest Retention Through Automation

The technology development in hospitality is continuing at a relentless pace which is challenging for the hospitality professional for both present and the future generations. The hotel front office is moving towards automation with less human interface. Reservations are mostly being made with help of booking engines and guest interaction with hotels are by apps and chatbots. Artificial intelligence (AI) also occupies a major role to facilitate and enhance guest experience. The trends now include use of augmented reality, predictive analysis, beacons, robotics, block chain technology, and biophilic designs in the hotel. The research is to study about how various hotel chains are adopting new technology and incorporating it in their establishment. The research is based upon data collected from hotel websites and other secondary sources to determine the acceptance of new trends by the hotel chains. The result suggests that though some international hotel chains have started accepting the new trends, the major Indian chains specially are lacking behind.

Christianity and Tourism Development in Nigeria

Most of the spiritual programs organized by mega Pentecostal and charismatic churches in Nigeria constitute serious touristic attractions, which over the years, have immensely been contributing to socio-economic development in the country. These programs pull a multitude of national and international expectant tourists, who in the course of satisfying their various spiritual pursuits, often get involved in many other cultural and recreational activities. Hinging on empirical understandings, this chapter examines the extent to which these religious programs contribute—or may contribute—to tourism and socio-cultural development in Nigeria, particularly in host communities. The chapter equally explores some of the challenges of religious tourism in Nigeria. It is specifically anchored on the three following questions: (1) Which are the major religious activities attracting tourists in Nigeria? (2) To what extent foreign tourists' attendance at these programs does not only benefit the churches? and (3) How could these programs further contribute to tourism development in Nigeria?