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1 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 11 Web Reservations International 2006 Case Study ® 2008,Takefumi Kawahara, Matt Bouchard,

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Presentation on theme: "1 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 11 Web Reservations International 2006 Case Study ® 2008,Takefumi Kawahara, Matt Bouchard,"— Presentation transcript:

1 1 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 11 Web Reservations International 2006 Case Study ® 2008,Takefumi Kawahara, Matt Bouchard, Darius Parker, Danielle Boucher

2 2 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Overview Founder Ray Nolan Web Reservations International websites Affiliates A brief history of Web Reservations International EOY 2006 Mission, Vision, Objectives, Strategies 2007 New Vision and Mission External Analysis Opportunities & Threats CPM EFE Internal Analysis Financial Data Strengths and weaknesses IFE Financial ratios Strategic Analysis SWOT Matrix SPACE IE matrix Grand Strategy Matrix Matrix Analysis QSPM Possible alternative strategies Our Recommendation Strategies Long range objectives Implementation Issues Proposed annual objectives (goal) and polices Proposed procedures for evaluation Epilogue Resources Utilized Questions

3 3 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Ray Nolan – Founder and CEO of WRI Employment History Chief Executive Officer and Co-Founder o Web Reservations International Limited Web Reservations International Limited Chief Executive Officer and Founder o Hostelworld.com Hostelworld.com Chief Executive Officer o WRI Group WRI Group Chief Executive Officer o Boo Boo Chief Executive Officer and Founder o Coretime Coretime Board Membership and Affiliations Board Member o Web Reservations International Limited Web Reservations International Limited Founder o WRI Group WRI Group Founder o Raven Computing

4 4 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Hostelworld.com is a leading provider of online reservations to the budget, independent and youth travel market. It offers confirmed online reservations for over 12,000 hostels and budget hotels in 165 countries worldwide. The site also offers budget travelers free podcasts, customized city guides, a travel social network and more. Hostelworld.com is headquartered in Dublin and is fully owned and operated by Web Reservations International Ltd (WRI). Headquarters: Sydney, Australia

5 5 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher We provide your information to necessary third party service providers when you reserve or purchase travel services through the boo.com website. We also use your details to operate boo.com and, occasionally, to inform you of new features, services and products from boo.com. On occasions, we may supply statistics about our customers to third parties such as hostels or other agents. These statistics never contain personally identifying information. If at any time you believe that boo.com has not adhered to these principles, please notify us via the contact form and we will use all commercially reasonable efforts to determine and correct the problem promptly.

6 6 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher WorldRes.com, Inc. (WRES) provides a business-to-business e-commerce solution for online marketing and reservations to the highly fragmented global hotel industry. The Company's Internet-based reservation system connects hotels to travel web sites creating an e-commerce network. This network enables these web sites to provide travelers with the ability to collect information and make real-time, confirmed hotel reservations online. As of February 29, 2000, the Company's network consisted of approximately 11,500 hotel properties in 142 countries and 1,075 travel web sites and call centers as well as over 1,800 web sites that are part of its affiliate program managed by Be Free. As of that date, WRES also had contracts in place to add approximately 12,900 additional properties to its network. NASDAQ: WRES

7 7 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher The premier site for hostelling information. Online listings for over 10,000 hostels worldwide.

8 8 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Confirmed online bookings for cheap accommodation worldwide. Trav.com features hostels, cheap hotels, holiday apartments, campsites, bed and breakfasts and guesthouses online. Low rates guaranteed.

9 9 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 9 Our Price Promise We bring you a great selection of properties in cities worldwide ranging in category from 1 to 5-star hotels. Discounthotels guarantee that our Special Internet Rates are the lowest rates you will find online. Our Security All bookings are made securely, in real-time and are guaranteed for you. We use the highest level of encryption to ensure that it is safe for you to use your credit card online. Our Experience Our staff has years of experience in the travel industry. We bring you the best hotels, the best service, and the lowest price.

10 10 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher A few of WRI’s 2,500 International Affiliates European online travel agency specializing in worldwide travel Low-fare European airline globally trusted and respected source of world travel and destination information and booking travel guide series that accompanies the free-spirited on treks across the globe Lonely Planet's is one of the best places to seek out advice on a wide range of travelling issues’ Our Vision is that every North American traveler will choose us to experience the real Europe by train Cheap Flights - Lowest European Fares, Low Cost Airline online travel service that enables students to travel for less. 10

11 11 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher History of Web Reservations International (WRI) Founded by Ray Nolan, is privately held and headquartered in Dublin, Ireland, with offices in Sydney, Australia, San Mateo, California and Shanghai, China Online travel growth triples Expansion plans: The recruitment of over 200 hostels and budget hotels each month to the hostelworld.com system, increasing the number of beds available for booking by 14,000 per month. Increased focus on adding activity and tour products for the BIYT market. These include bungee jumping and bus tours. These products will be offered through and new websites.www.hostelworld.com Sponsorship of a US College tour to promote its online booking sites for students. Development of myhostelworld.com system, which provides travelers with full itinerary booking and management. - Best E-Commerce and Best Overall website Spider award

12 12 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher History of WRI Continued Hostelworld.com in chosen as 1 of 40 for the world summit award for one of the best sites in the E-business category - Web Reservations International ranked second at the Deloitte Technology Fast 50 Awards Ceremony - Hostelworld.com have won the Emerging Entrepreneur of the Year Award at the 2003 Ernst & Young Entrepreneur Awards in Ireland - WRI acquires Hostels.com Receives investment from Summit Partners, a leading international private equity and venture capital firm -acquired Belgian based Hostels of Europe (450 Hostels) Web Reservations International unveils m-commerce technology This service, built on the O2 I-mode platform, makes the company’s budget, youth and independent travel site, Hostelworld.com, and it’s hotel reservations site, WorldRes.com, available to travelers via mobile phones. - Launched a brand new website which specializes in group bookings for hostels all over the world - is acquired 12

13 13 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher History of WRI Continued Hostelworld.com wins Golden Spider for Best Travel Site Best Travel, Tourism and Hospitality website at the tenth Annual Eircom Golden Spider Awards in Dublin - Web Reservations International, one of the world’s leading e-travel reservation companies, today appointed Mark Opzoomer and Brian Dunne to its board as non-executive directors - Hostelworld.Com Celebrates Four Million Unique Hostel Accommodation Bookings 13

14 14 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 2006 Mission/Vision Statement “To provide on-line confirmed bookings for hostels, budget accommodation centers and package tours, as well as comprehensive content such as city and country guides”

15 15 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 2006 Strategies and Objectives Technological development To cater to the traveling youth demographic whom are technologically advanced o 80 percent of youth travelers carry with a mobile phone o 86 percent travel with a digital camera and a surprising o 21 percent even take a laptop computer on their trips Expand and dominate all forms of European travel

16 16 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 2006 Issues How to continue to maintain its dominant position in the BYIT (Budget, Youth, and Independent Travelers)market and transfer its technology and business model to the low-cost hostel market or other sectors of the travel industry Trust and security in relation to WRI’s 500 web sites and affiliate programs Lack of an overall WRI branding Quick expansion in necessary to acquires competitors market share such as Expedia. Rising fuel costs Inflation

17 17 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher A New Vision To be the paramount company for any and all travel desires.

18 18 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher A New Mission Web Reservations International’s (WRI) mission is to provide booking services for a large array of travel ideas in worldwide destinations. (2,3) We aim to satisfy anyone and everyone from elderly couples searching for retirement locations to youth looking to backpack across an entire continent, no matter what continent that may be. (1,2,3,7) Our innovative websites allow for users to book and compare a surplus of destinations with the click of a mouse. (4) Our knowledgeable and pleasant staff go above and beyond to provide for multicultural assistance and a memorable WRI experience, and are valued for that exact reason. (6,9) We are constantly looking for a way to better our company as a service to our customers as well as generating profits to our investors. (5) WRI has a simple business model where every party in the distribution chain benefits: the property, the partner and, of course, the end customer. (5,6,7) Web Reservations International is aware that a wide variety of travelers exist with many different environmental and social needs and views and we aim to satisfy and cater to every one of them. (8)

19 19 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher WRI’s New Mission The new mission answers the following questions 1. Customers: Who are the firm’s customers? 2. Products or services: What are the firm’s major products? 3. Markets: Geographically, where does the firm compete? 4. Technology: Is the firm technologically current? 5. Concern for survival, growth, and profitability: Is the firm committed to growth and financial soundness? 6. Philosophy: What are the basic beliefs, values, aspirations, and ethical priorities of the firm? 7. Self-concept: What is the firm’s distinctive competence or major competitive advantage? 8. Concern for public image: Is the firm responsive to social, community, and environmental concerns? 9. Concern for employees: Are employees a valuable asset of the firm?

20 20 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher External Audit: Opportunities 1) BYIT (Budget, Youth, and Independent Travelers) market growing 2) Go public 3) Growing online travel market 4) Rebounding travel industry 5) Worldwide industry 6) Baby Boom market

21 21 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher External Audit: Threats 1) Oil Prices 2) Inflation 3) Exchange rate volatility 4) Geopolitical uncertainty 5) Competitors

22 22 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Competitive Profile Matrix WRIExpediaPriceline Critical Success factors WeightsRating Weighted Score Rating Weighted Score Rating Weighted Score 0.0 to 1.01 to 4 Global Market Share Global Name Recognition Technology Customer Experience Customer Loyalty U.S. Market Share Social Networking Available Financing Business Services / Business Travelers Accommodations Offered Totals

23 23 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher External Factor Evaluation Matrix Key External Factors WeightsRating Weighted Score 0.0 to 1.01 to 4 Opportunities BYIT (Budget, Youth, and Independent Travelers) market growing Go public Growing online travel market Rebounding travel industry Worldwide industry Baby boom market Threats Oil Prices Inflation Exchange rate volatility Geopolitical uncertainty Competitors Totals1 2.60

24 24 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Profit and Loss Account (December 31, 2006, in U.S. Dollars) * The currency is converted from EUR to USD (1€ = $1.32) as at December 31, 2006 FY 2006FY 2005Result Turnover (Sales)35,946,90528,713,681Increased 7.2M Administrative Expenses(12,049,219)(8,607,230)Increased 3.4M Operating Profit23,897,68720,106,451Increased 3.8M Interest Receivable and Similar Income424,145181,825Increased 240T Interest Payable and similar charges(2,385,792)(3,374,961)Decreased 1M Profit on Ordinary Activities Before Tax21,936,04016,913,314Increased 5M Tax(2,709,848)(2,468,688)Increased 240T Retained Earnings19,226,19214,444,627Increased 4.8M

25 25 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Turnover (Sales) (in U.S. Dollars) Turnover is amounts invoiced for services provided to customers during the year Rest of the world increased $6M Total turnover increased $7M or 40% mainly due to the sales increase in international

26 26 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Employees and Remuneration Total staff costs increased $900,000 Cost per employee increased $6,000 due to the increases in other benefits and share based payments

27 27 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Balance Sheet (in U.S. Dollars) Current liability increased primarily due to the bank loan of $8.6 million. Instead, corporation tax decreased $570,000. The bank loan was secured over certain assets of the company and over certain assets of WorldRes Limited, a subsidiary undertaking. Long-term liability increased due to the redemption of shares. FY 2006FY 2005Result Fixed Assets Tangible assets1,008,421976,391 Increased 32T Intangible assets (Domain name)4,304,6124,668,278 Decreased 360T Financial assets (Investment in subsidiary)265 Same Total Fixed Assets5,313,2985,644,934 Decreased 330T Current Assets Debtors (Accounts Receivable)13,874,58612,012,814 Increased 1.9M Cash at bank and in hand913,85717,812,007 Decreased 17M 14,788,44329,824,822 Current Liability(11,308,344)(1,985,739) Increased 9.3M Net Currents Assets3,480,09927,839,082 Decreased 24M Total Assets Less Current Liabilities8,793,39833,484,016 Long-term liability-(44,006,376) Decreased 44M Provisions for Liabilities and Charges(474,801)(476,562) Almost same Total Net Assets after Tax8,318,59610,998,922 Decreased 2.7M * The currency is converted from EUR to USD (1€ = $1.32) as at December 31, 2006

28 28 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Balance Sheet (in U.S. Dollars) Shareholders’ funds recovered from the deficit. During 2005, WRI changed its policy in relation to measurement and recognition of financial instruments. As a result, WRI recognized a liability of $38 million on initial recognition of the financial liability element of the preference share instruments in 2004 Financed By: FY 2006 FY 2005Result Capital and Reserves Called-up share capital30,444 32,325 Almost Same Share premium account1,882,709 1,789,502 Increased 93T Capital conversion reservfe fund337 Same Profit and loss account6,403,097 (12,821,086) Increased 19M Capital redemption reserve2,009 - Almost Same Shareholders' Fund/(Deficit)8,318,596 (10,998,922) Increased 19M * The currency is converted from EUR to USD (1€ = $1.32) as at December 31, 2006

29 29 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Internal Audit: Strengths 1) Privately held 2) Credible CEO (Ray Nolan) 3) Knowledgeable personnel (multicultural staff) 4) Large scale of operation 5) Distribution network 6) Profitable business model

30 30 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Internal Audit: Weaknesses 1) Lack of public funding 2) Lack of public information 3) Minimal presence in North America 4) Low profit margin 5) Customer Loyalty

31 31 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Internal Factor Evaluation Matrix Key Internal Factors WeightsRating Weighted Score 0.0 to 1.01, 2, 3 or 4 Internal Strengths 3 or 4 Privately held Credible CEO (Ray Nolan) Knowledgeable personnel (multicultural staff) Large scale of operation Distribution network Profitable business model Internal Weaknesses 1 or 2 Lack of public funding Lack of public information Minimal presence in North America Low profit margin Customer loyalty Totals1 2.86

32 32 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Financial Ratio Analysis (Time Comparison)

33 33 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Financial Ratio Analysis (Competitor Comparison 2006)

34 34 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Financial Ratio Analysis (Industry Comparison 2006)

35 35 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Net Worth (December 31, 2006, in Thousands of U.S. Dollars Except Per Share Items) *The currency is converted from EUR to USD (€1.00 = $1.32) as at December 31, 2006

36 36 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher SWOT Matrix WRI SWOT Matrix Strengths – S 1.Privately held / easier to make decisions 2.Superb CEO (Ray Nolan) 3.Knowledgeable Personal (multicultural) 4.Large scale operation 5.Distribution Network 6.Profitable business model Weaknesses – W 1.Lack of public funding 2.Lack of public information 3.Minimal presence in North America 4.Low profit margin 5.Customer Loyalty Opportunities – O 1.BYIT (Budget, Youth, and Independent Travelers) 2.Go public 3.Growing online travel market 4.Rebounding travel industry 5.Worldwide Industry 6.Retiring baby boomers SO Strategies 1.Global expansion (S3, S5, S6, O3, O4, O5) 2.Advertise / Expand to and (S3, S4, S6, O3, O4, O6) 3.Advertise / Expand to Pacific (S3, S4, S6, O3, O4, O5) WO Strategies 1.Go public / IPO (W1, W2, O2) 2.Advertise / Expand to and (W3, O3, O4, O6) 3.Agreements with airlines / hotels (W3, W5, O3, O4, O5) 4.Target university students worldwide (W2, W3, O1, O4) Threats – T 1.Oil Prices 2.Inflation 3.Exchange rate volatility 4.Geopolitical uncertainty 5.Major competitors / many competitors (Expedia, Travelocity, Orbitz, Priceline, etc.) ST Strategies 1.Go Public / IPO (S2, S4, S5, S6, T5) 2.Allow online flight booking (S1, S4, S5, S6, T5) 3.Joint Venture w/ Google (S3, S5, T5) WT Strategies 1.Go Public / IPO (W1, W2, T5) 2.Allow online flight booking (W5, T5) 3.Advertise low cost hostels and budget deals (W5, T1, T2, T5) 4.Joint Venture w/ Google (W3, W5, T5)

37 37 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Space Matrix ES average-3.80 CA average-3.00 IS average4.00 FS average5.20 Financial Strengthrating is 1 (worst) to 6 (best) Rating s 1 Fixed Assets Turnover5.0 2 Working Capital4.0 3 Return on Total Assets6.0 4 Return on Net Worth6.0 5 Profit Margin on Sales5.0 Industry Strengthrating is 1 (worst) to 6 (best) FS Total BYIT market growing (more elderly)6.0 2 Internet travel booking increasing5.0 3 Rebounding travel industry4.0 4 Financial stability2.0 5 Increasing merger and acquisition3.0 Environmental Stabilityrating is -1 (best) to -6 (worst) IS Total Competitive pressure Increase in fuel prices (airline and cruise) Rate of inflation Exchange rates Geopolitical uncertainty-4.0 Competitive advantagerating is -1 (best) to -6 (worst) ES Total Privately held Credible CEO (Ray Nolan) Knowledgeable personnel (multicultural staff) Distribution network Efficient Business Modle -2.0 CA total-15.0

38 38 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Space Matrix 38 Web Reservations International is fairly in an aggressive position and has moderate financial strengths in a growing industry.

39 39 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Grand Strategy Matrix Rapid Market Growth Slow Market Growth Weak Competitive Position Strong Competitive Position Quadrant I 1. Market development 2. Market penetration 3.Product development 4.Forward integration 5.Backward integration 6.Horizontal integration 7.Related diversification

40 40 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher IE Matrix

41 41 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Matrix Analysis Alternative StrategiesIESPACEGRANDCOUNT Forward IntegrationXX2 Backward IntegrationXX2 Horizontal IntegrationXX2 Market PenetrationXXX3 Market DevelopmentXXX3 Product DevelopmentXx2 Related Diversification0 Unrelated Diversification 0 Joint Venture0 Retrenchment0 Divestiture0 Liquidation0

42 42 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher QSPM Key factors Weight Become a Publicly Owned Company (IPO) North American Expansion Airline Affiliations AS TASAS TASAS TAS Opportunities 1 to 4 BYIT (Budget, Youth, and Independent Travelers) market growing Go public Growing online travel market Rebounding travel industry Worldwide industry Baby boom market Threats Oil Prices Inflation Exchange rate volatility Geopolitical uncertainty Competitors Subtotal

43 43 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher QSPM Strengths 1 to 4 Privately held Credible CEO (Ray Nolan) Knowledgeable personnel (multicultural staff) Large scale of operation Distribution network Profitable business model Weaknesses Lack of public funding Lack of public information Minimal presence in North America Low profit margin Customer loyalty Subtotal

44 44 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Possible alternative Strategies Market Development: Look to increase options allowing customers to book hotels for any destination. Add more hotels on the website in South America as well as the US. Market Penetration: Go after Expedia, Travelocity and Orbitz’s market share Product Development: Increase the amount of hotels on the site and have a variety of hotels that range in prices all over the World.

45 45 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Possible alternative Strategies We could also look into selling off our company to Google. We can make a pitch to Google explaining how they offer countless amounts of services but do not yet have the booking services that WRI can offer. WRI is a solid company with a network that reaches around the world. We would explain how the industry is constantly growing and how it is becoming more habitual for world travelers to book reservations online. Once our investors and Google have agreed on a price, the deal would be done. The conditions of the deal could include things such as our investors receiving shares in Google.

46 46 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 1 st Recommendation Become a Publicly Owned Company-Initial Public Offering (IPO) Get the approval from the Security and Exchange Commission (SEC) Write a S-1 that will describe everything that the company is doing and why Have the SEC review the S-1, and make any necessary changes if needed, then get an approval Get our shareholders approval by having our private investors vote on whether they should create the IPO by gathering information from our approved S-1 document. We will look to choose the NASDAQ stock market Our trading symbol will be WRI Funds will be utilized to build the worth of our company and form a joint venture with Google allowing for the booking of travel reservations on Google.com o 30% of shares will be given to Google.com Stock Price: $15 Number of Shares: 2,000,000 Cost: $160,000

47 47 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 2 nd Recommendation North American Expansion Expand across the US by getting a larger variety of hotels on our website Be able to offer a variety of hotel rooms in every state creating greater options Expand more into the Caribbean, Mexico, and Canada Budget: $2 million

48 48 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher 3 rd Recommendation Airline Affiliations Create affiliations with airlines so consumers can purchase plane tickets on our website Create package deals for our consumers that are willing to book flights on the website Work with major international tourist destinations to do more business on our website Budget: $3 million

49 49 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Implementation Issues Releasing financials to the public Stabilizing the stock price after the IPO Acquiring current investors support for implementing strategies Creating brand recognition in North America Counteracting increasing travel expenses

50 50 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Proposed Annual Objectives and Policies Increase turnover (amounts invoices for services provided) by 60% annually for the next 3 years − 5% in Ireland − 15% in Europe − 40% in the rest of the World Reduce staff costs by 20% annually for the next 3 years − 10% in wages and salaries − 10% in benefits Transfer its technology and business model to the low-cost hostel market or other sectors effectively − Provide adequate funding to R&D − Assign technicians to further develop website and software

51 51 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Proposed procedures for evaluation Check reviews & feedbacks through SNS, blogs, and affiliated hotels & hostels Track average number of visitors per flagship website and affiliated licenses Quarterly & annual financial reports Quarterly & annual meetings to evaluate current plan and respond necessary changes

52 52 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Epilogue WorldRes.com partners with Genares worldwide reservation services to provide global distribution system booking engine - WRI opens New York office - Hostelworld.com show that the summer of 2007 was their busiest yet for backpackers - Wayn.com partners with HostelWorld.com to offer members excellent accommodation rates worldwide - HostelWorld.com with Ryanair contract for 5 years - Celebrates 1 million in revenues PayPal is added to HostelWorld.com -HostelWorld.com goes live on iPhone -HostelWorld.com receives a new look - Ray Nolan steps down from CEO position and is replaced by Feargal Mooney. Mooney was previously the Chief Operations Officer since 2002

53 53 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Resources Web Reservations International Financial Report 2006 msn.money.com

54 54 Takifumi Kawahara, Matt Bouchard Darius Parker, Danielle Boucher Questions


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