Cruises Amusement Parks Gaming Countries National Parks Sports/Recreation Historical Sites

A hotel with recreation facilities that appeal to those traveling for pleasure. Paradise Island in the Bahamas

The cruise lines, tour companies, hotels and car rental agencies pay travel agencies a commission for selling their products. Airlines DO NOT pay commissions to agents. What is a TRAVEL AGENT and how do they make money? A business that attends to the details of transportation, itinerary, and accommodations for travelers.

Resort owners look for ways to INCREASE DEMAND during the LOW season by…. Lowering rates Encouraging meetings & convention groups Adding activities to draw in customers

The amount of GOODS or SERVICES available at a given price at a given time. The amount of goods or services that consumers want and are willing and able to buy at a given price at a given time.

FOR EXAMPLE: The AIRLINE industry is considered to be very ELASTIC. For instance, with the price of oil rapidly increasing, the cost of an airline ticket is also increasing and the demand for leisure travel is decreasing. After 9/11, people were afraid and the demand decreased. Also - If there is an emergency and someone purchases a ticket close to the departure date, even though there are unsold seats available the cost will increase ELASTICITY = % change in quantity / % change in price