Analyse factors influencing profit for travel and tourism businesses

Unit 2 Finance Funding in Travel Tourism

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Task 1

Introduction: Tourism sector

Question 1 explain the importance of costs and volume in financial management of travel and tourism businesses using Merlin Entertainments Plc as your case study

Question 2 analyse pricing methods used in the travel and tourism sector. You need to use examples from different types of businesses in travel and tourism.

Question 3 analyse factors influencing profit for travel and tourism businesses using Merlin Entertainments Plc businesses as your case study.

Task 2: Presentation

Task 3

Question 1 interpret financial accounts of The Restaurant Group (TRG) Plc for the year ended 27 December 2015 showing at least two years performance (for example comparing 2015 to 2014).

Task 4: Poster

This unit unlocks the financial world of travel and tourism, equipping you with the knowledge and skills to navigate its complexities. Buckle up as you explore the crucial role of finance in tourism businesses, from cost control to securing funding for growth.

Key areas you'll conquer:

Financial Management: Grasp the core principles of financial management, including costing, pricing, budgeting, and cash flow analysis. Understand how these tools help businesses make informed decisions and achieve profitability.
Cost & Volume Relationship: Dive into the intricate dance between costs and business volume. Learn how to analyze costs, predict their impact on revenue, and optimize pricing strategies for maximum profit.
Sources of Funding: Explore the diverse funding options available to travel and tourism businesses, from internal sources like retained earnings to external sources like loans and investments. Understand the advantages and disadvantages of each option.
Management Information Systems (MIS): Demystify MIS, the systems that gather, analyze, and present financial data. Learn how to leverage MIS for effective decision-making and performance monitoring.
Case Studies & Real-World Applications: Put your knowledge to the test by analyzing real-world case studies of travel and tourism businesses. Apply the learned concepts to solve financial challenges and propose sound solutions.

Benefits of mastering this unit:

• Gain a solid understanding of financial management principles specific to the travel and tourism industry.
• Develop critical financial analysis skills to make informed business decisions.
• Explore various funding options and choose the most suitable one for your business needs.
• Leverage MIS to gain valuable insights into your business performance and make data-driven decisions.

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