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Business of travel and tourism task1

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Introduction

The Business of Travel and Tourism Task 1 Introduction The purpose of this task is to describe the features of two different types of business organisation within the tourism industry. The business must be one from the non-profit making sector (public) and the other from the profit making sector (private) I have chosen Hilton Hotels Corporation as my first business (P1) they provide accommodation for many different types of guests and provide many different facilities from internet connections to wheelchair access for their customers. They are a profit making international chain of hotel. For P2 I have chosen a non-profit making organisation which is apart of the public sector- The Northern Ireland Tourist Board Part 1 Type of organisation- A profit making organisation can otherwise be categorised as a commercial or an organisation which belongs to the private sector, the majority of businesses in the Travel and Tourism industry are apart of this commercial/private sector. Any private sector businesses' aim is to sell their products and services successfully in order to generate enough profit to firstly help their business grow and develop. Hilton is a profit making organisation, we know this as they operate like any other privately owned business. ...read more.

Middle

Providing these investors with a return is important to encourage further investment and therefore using company profits to re-pay shareholders is important on a regular basis. The people who have invested in Hilton over the years will have seen their shares grow as Hiltons' profit margins have grown successfully and steadily, the more profit Hilton makes then the shareholders get more retuned money. Retained profit- profits from a business can be used for their own personal use or can be used to put back into the business; this is often called ploughing back the profits. A retained profit is only available to a business which is already in existence, in the early stages of setting up a business it may be necessary to put a lot of the profits back into the business, this finance would normally be used to buy new equipment and more stock of products and services to hopefully make the business more efficient and profitable in the future. For example, Hilton opened its newest hotel- The Hilton Garden Inn University Heights in May 2007, in the Albany area of New York, it can accommodate up to 200 people depending on the needs of the group. ...read more.

Conclusion

Members- Within a private organisation, the members would be the owners or managers, however in a public sector organisation the members are those partners or other tourism businesses. Within the NITB there are a group of people known as the board of directors, they are listed below within the control section. The NITB is funded by several different government organisations including the DETI. Distribution of profits- Control- The group of people known as the board of directors are the main people in control of the NITB. The role of the directors in the public organisation is practically the same as their role would be in any private business, they are the main decision makers; they decide upon any thing which needs to be improved or if there are any issues to be discussed or weather or not to introduce anything new to make Northern Ireland more tourism friendly. The ten members of the board of directors in the NITB are: Tom McGrath- this is the chairman Irene Adair John Mooney Andrea Hayes Mandy Martin Lyn Fawcett John McGrillen Cllr Jim Speers Kevin Baird Aideen Corr. Sources of finance- Documentation needed to set up a business- ?? ?? ?? ?? The Business of Travel and Tourism Task One Sept' 08 Joanne Watson ...read more.

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