Destination Management. Lecture 5 University of Applied Sciences Stralsund Leisure and Tourism Management WS 2009/2010. Part Two. Explores the issues involved in the development of new attractions, including feasibility studies, financing, business planning and project management.
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University of Applied Sciences Stralsund
Leisure and Tourism Management
Explores the issues involved in the developmentof new attractions, including feasibility studies, financing, business planning and project management.
Development of visitor attractions
Feasibility study objectives(main ~ and additional ~)
Feasibility study contents(market analysis, site selection and funding)
Sourcing information(quantitative & qualitative research; primary & secondary data)
Factors influencing success of visitor attractions(organization and its resources, product, market and management)
Funding/financing visitor attraction projects(direct & indirect funding from private, public and voluntary sector)
The Business Plan is usually a follow-on from a Feasibility Analysis;
It incorporates information compiled for the feasibility analysis;
Establishes a clear guideline for future development of the business;
Must be seen as a working document that is used to regularly measure performance;
A business failing to plan, is a business planning to fail.
Identify what business you are in;
To determine where you are now;
Determine where you want to be in the future- 12 months / 3 years / 5 years(clear, measurable objectives);
Identify how to get there- how do you achieve those objectives?(action plan);
Job inquiries, resume handling, etc.;
Job descriptions: skill requirements, task outlines, performance criteria, regular review procedures;
Training and skill development:in-house, on-the-job, external;
Salary and pay management, taxation, workcover, etc.
Is a critical part of the successful day-to-day operation of a tourism business;
Allows staff (and management):clear understanding of the tasks that need to be conducted to run the business efficiently;
Allows management:the ability to plan, document, review and update operational issues;
“Gerbeau wants to buy the Dome“
“Crystal ball gazing”
Market analysis and visitor forecasting
as the most critical factors for reliable and
successful feasibility studies and business plans