Globalization and opening up of economy has turned the world into a global village. Any enterprising businessman cannot turn a blind eye to this change.
µGrow and spread your wings¶ - fuelled by this corporate philosophy, Akbar Travels has widened its network by opening branches, catering to the high flying and need-based patrons in India and overseas.
MUMBAI : Mumbai, the financial capital and business powerhouse of India, is the headquarters of Akbar Travels. It provides a 24-hr service facility with conveniently located branches in:
y Crawford Market The birthplace of Akbar Travels since 1978 and the headquarters of the Akbar Network,this branch plays a pivotal role in the company¶s productivity.
y C.S.T.Located opposite the most popular landmark, this branch provides its services to South Mumbai.
y Dadar This particular branch is located to serve the Central Zone of Mumbai.
y Andheri The most developing area of the Mumbai suburbs with Multinational Corporates, Seepz and MIDC. Akbar Travels opened a branch here to reach out to the North Mumbai people.
y PUNE : The cultural capital of Maharashtra is spreading its wings into the industrial sector and is now the Info Tech center of the western region. Akbar Travels realized the strategic importance of this developing city and opened branches here to serve the multinationals and the young population. Today, Pune branch has become the hub for the hinterland of Maharashtra regions.
y TAMIL NADU : Akbar Travel¶s strategic move of opening branches in Chennai in 1996 gave a checkmate to all the other established agencies in this state of temples and jasmine. Akbar Travels has two IATA branches in Nungambakkam and Egmore. Judging the success of these two branches, Akbar Travels, in 2002 and 2005 respectively, opened two more branches in Tamil Nadu in the cities of Trichy and Coimbatore.
y BANGALORE : Entry into the garden city of south, also known as the Silicon Valley of India, was done within a short span of time. Akbar Travels was established here as a travel solution provider to the vast corporate and IT market.
y MANGALORE : Akbar Travels started its operations here in 1993, to develop the travel market of the coastal region of Karnataka. Today, the economic development and its growth thereon has made Mangalore an important travel hub.
y HYDERABAD : The state capital of Andhra Pradesh is known for its rich history and culture. People from far come here to explore and experience the richness of the history and culture. Also, Hyderabad¶s potentiality as a route to the Gulf and the West is growing at a faster phase. Opening a branch here was another successful venture for Akbar Travels to become the No.1 in Andra Pradesh.
y KERALA : Kerala is God¶s Own Country, with serene beaches fringed by long shorelines. Tourists flock here to relax at verdant hill stations and trail down tranquil stretches of the emerald backwaters in a ³kettuvallam´.They pamper themselves with the ultimate ayurvedic massages. Aland of magical festivals, historic and cultural monuments and exotic cuisine Kerala is the most happening place for the tourists. Also, statistics prove that Kerala has the largest number of population traveling and immigrating to the Gulf countries. Not wanting to miss this booming opportunity, Akbar Travels opened various branches in this beautiful paradise. In fact, Kerala has the maximum number of branches and satellite offices. The main branches of Kerala are at: THIRUVANANTHPURAM (TRIVANDRUM) Akbar Travels knew the importance of having its branch in this well connected capital of Kerala and in 1992 opened its branch here. Today, Thiruvanathpuram is the biggest hub after Mumbai and Delhi for international travelers, both inbound and outbound.
y CALICUT : The commercial capital of Malabar, Calicut has a very colourful past.Vasco da Gama, the first European to reach India by sea, landed here at Calicut. His arrival heralded the period of Portuguese supremacy in India. The next notable event that happened here was the opening of Akbar Travels with branches in Perinthalmanna, Tirur and Kannur. Our Calicut branches cater mainly to the travelers traveling to the Gulf countries.
y KOCHI (COCHIN) : The year 1992 saw Akbar Travels opening its doors for the customers in Kochi, the queen of Arabian Sea. Today, Kochi¶s importance is growing by leaps and bounds. All the major airlines are vying with each other to operate from here, showing the growth trend in Kochi in terms of outgoing passengers. Growth demands additional supplies where accommodation, transportation etc. are concerned. Akbar Travels ensures that theses additional demands are fulfilled. Kottayam, the nearest city to Kochi, also has a branch of Akbar Travels.
y GUJARAT : Gujarat is the largest market for UK and USA. In fact, a significant number of America¶s Indian origin population is from Gujarat. To cater to this segment of the market, Akbar Travels has opened its branches in key cities like Ahmedabad and Vadodara.
Akbar travels of India provide best travel packages in India for tourists. India has many amazing tourist spots direct from Himalayas in the north to Kanya Kumari in the south and Akbar tours and travels have all type of packages where you can travel all the tourist destinations in India. India has interesting history and comprises of many historical palaces, forts and monuments. When travelers visit different states in India they come to know that there is a vast cultural diversity in India. Every state starting from Jammu and Kashmir to Kerala has own customs, food, clothing and languages. Akbar tours and travels help you to explore this amazing land with all its uniqueness. Akbar travels of India guides you with transportations and hotel facilities. Akbar travels of India will plan your trip to India where you can visit and explore almost all the major tourist destinations starting from Taj Mahal in Agra to the beautiful beaches in Goa. Akbar travel online booking help you to book your travel packages seating at anywhere in the world. Akbar travel online booking offer you many type of Akbar tours and travels package ranging according to the days you spend in the tour and places that you want to visit. Akbar travels of India also provide of range of hotels where you can select from luxury hotels to affordable hotels. Car rentals or transportation within the city is also given by Akbar travels of India. Akbar travel online booking system keeps on updating with advance technology and requirements of the travelers.
Akbar tours and travels is the largest travel agency in India. Akbar travel online booking not only deals with plane tickets but also trains ticket booking within India. Akbar travel online booking system is easy and saves lot of time and money. Akbar tours and travels have 28 branches which offer tour packages. Akbar travels of India makes your journey comfortable and you don¶t have to worry for anything when you are travelling on the guidance of Akbar travels. Success of Akbar tours and travels is because of their services that they provide. Plan your trip with Akbar tours and travels and explore India.
SERVICES
AIRPORT COUNTERS
SWAGAT SEWA
Passengers at the airports, many time require assistance, which are beyond the capacity of the ³May I Help You´ counters located there.. For providing precisely such assistance, Akbar Travels operates a 24-hour Airport Assistance Counter, Swagat Sewa.
SWAGAT SEWA PROVIDES SERVICES LIKE:
1. Passenger Handling, which ensures smooth passage till the Security hold for departing passengers and a lovely stay for the tourists who are visiting India. 2. Hotel Bookings and transportation are also done as per the needs and budget of the passenger. 3. Car Rental Arrangement, which saves the passenger the hassle of searching for a car to go to the hotel/home. 4. Wheel Chair is arranged for the differently abled and aged passengers. 5. We also provide assistance for the procurement of air tickets of any airlines. 6. Medical Assistance in form of arranging for ambulance, medical aide and hospital admission is provided as and when needed. 7. Unaccompanied children, traveling alone will be looked after from the time of departure of the flight till they are safely in care of their guardian.
In the arena of domestic & international passenger transport, Akbar Car Rentals is a name to reckon with. We are the only private sector organization authorized by the Airport Authority of India ʹGovt. of India to operate from international and domestic airports at Mumbai, Chennai, Bangalore, Hyderabad, Ahmedabad and Trivandrum. In Pune , we provide this service from the city itself.
Travel Insurance Services
Risk is an unavoidable part of travel, whether it is traveling for pleasure or during immigration. To safeguard the interests of our travellers, Akbar Travels offers immigration insurance schemes at its branches across India.
We are the approved insurer for immigration insurance on behalf of a nationalized insurance company. We also offer travel insurance, tailor made according to the needs of the traveller. Our travel insurance coverage is based on actual days of travel. To provide this service, we have tied up with two major private insurance companies. Since our volumes are very high, our customers can enjoy special benefits.
Visa Services
Akbar Travels has been immensely popular in the counseling & assistance of visas of all the countries and the magnitude of our achievements are well known across India.
HOLIDAY SERVICES
A separate holiday division was started to cater for Leisure Group Travel, Corporate Incentive Groups and Customized Family Tours, Domestic and International tours.
Akbar Group has always believed in offering tours at attractive prices. Akbar Holidays is a ³Dream Come True´ for the common man. Here, domestic and even international holidays are offered at attractive prices that appeal to the middle- income people.
Widest Tour Options Conference Tours Incentive Tours Student Holidays Group Tours Family Tours Student Educational Tours Honeymoon Tours Cultural Tours Pilgrimage Tours Adventure Tour Cruise Tours
Akbar Haj & Umra Tours
Akbar Travels, being one of the few traditional travel organizers for decades, highly values the importance of religious tours.
Akbar Travels started organizing Haj tours and in due course of time earned name, fame and goodwill not only from our travelers but also from national and other airlines.
Instead of looking at the profits on such tours, Akbar Travels rewrote the rules of the business by cutting prices to help the under privileged fulfill their life¶s goal.
Akbar¶s initiative and organizing capacity paved way for the recognition of the Government of India.
Twenty years of experience in handling Haj traffic has made Akbar the No.1 in this field.
Today,the company arranges Haj tour of 35 days for over 20,000 pilgrims.
Umra Package : Akbar Travels of India enjoys the permission from ministry of external affairs Saudi Arabia to operate as umra tour operator in India. Akbar Travels of India, predominantly organises Haj pilgrimage for the devoted at a reasonable price. The company offer elaborate infrastructure, own accommodation, hygienic food and comfortable travel arrangements, both at point of origin and in Mecca, for approximately 600 to 1000 pilgrimage every year. The Haj package is for 35 days, comprising : (16 days in Mecca, 5 days Fariz Hajj Baitullah, 8 days Medina Munnawara and 1-2 days for travel/rest).
This is inclusive of the following :-
y Haj return fare
y Endorsement of Haj / Umra Visa
y Accommodation
y Moellim fees
y Local Transportation during Haj
y Food, snacks
y Ziarat of the holy places in Medina Munnawara
y
y International and Domestic Ticketing
y
y As per IATA records, Akbar Travels is recognized as the largest ticket issuer in Asia and the number one generator of volume and revenue in the industry.
Today, Akbar Travels is the leading Travel Ticketing Agency in India, who excels in providing quality service to customers across the country.
Over a decade ago, the organization, keeping in mind the customers, had introduced the concept of the ³most economical fares´ where the customer enjoyed the revenue benefits of the company. The overwhelming consumer demand led to Akbar Travels becoming the biggest consolidator and wholesaler in India and over a period of time, these fares became so popular that they were fondly referred to as µAkbar Fares¶.
Our dedicated and professional staff is well equipped to handle all types of ticketing requirements of the customers.
To facilitate speed and efficiency of operation, the organization is equipped with the state-of-the-art infrastructure across all branches and is in synergy with all the airline offices. y Akbar Travels Car Rental Services y The company owns a fleet of over 450 cars of models like Esteem,Ford Ikon,Mercedes Benz Van,Skoda,Camry,Tata Indica,Honda City,Toyota,Qualis Innova,Swift etc.
Being an all India permit holder and having a strong infrastructure within India, Akbar provides transportation for any given destination across the country, from major airports.
The mission and hard work in expansion of Car Rental Division rests with Mr.Unni- VP of Akbar Group. y Our service is also patronized by various airlines for their crew, staff and executives y y Forex Service y y As compared to any other travel agency, Akbar Travels offer the maximum number of FOREX outlets through our 25 branches in India.Because we are also a bulk dealer, we can offer our customers the most competitive exchange rates.
We also have a tie-up with Western Union to enable electronic money transfers
y Special Tour Packages
y y Explore Kerala at Rs.9750/-
y y Ooty trip at Rs.2300/- (2 Nights / 3 Days)
y y Land of Dragon, starting from Rs.10118/- (4 Nights / 5 Days)
y y Kerala Tours Package - Rs.9605/- per adult (4 Nights / 5 Days)
y y Rajasthan Tours Packages - Rs.13985/- per adult (6 Nights / 7 Days)
y y Himajal Tours Packages - Rs.13696/- per adult (6 Nights / 7 Days)
y y Uttaranjal Tours Packages - Rs.17131/- per adult (8 Nights / 7 Days)
y y Golden Triangle Tours Packages - Rs.13931/- per adult (6 Nights / 7 Days)
y y Temple Tours Packages - Rs.8948/- per adult (3 Nights / 4 Days)
AKBAR TRAVELS ± A SAGA OF 25 YEARS
When it comes to budgeting your hard earned money for travel, you need someone whom you can trust, who will give you mega value for your money. You need someone who provides you with all the travel services under one umbrella.
Not all travel agencies are equipped with the infrastructure and professionals to provide services right from helping you plan your travel till the time you board the aircraft. You need someone like Akbar Travels. Its 25 years of experience gives it the Confidence to guide you through complex options with unbiased and expert advice and solutions.
Akbar Travels, an expert who understand your needs and assists you to reach your final destination with a smile.
A 25 Year journey with Akbar Travels
With conviction as his constant companion, optimism, hard work and the will to excel as his capital, Mr . K.V. Abdul Nazar started his enterprise, Akbar Travels,25 years ago, in the year 1978.
This small step, taken then has gained momentum and is racing towards the ever- expanding horizon of excellence .Today, the company has become a leading IATA agency in India and in process has earned a lot of goodwill from all the airlines, Government departments, travel fraternity and above all, the ³highly valued customers´.
Akbar Travels offers a wide spectrum of travel related services and facilities, across its 25 IATA branches, spread al over India and over 30 satellite offices.
The high caliber of professional recruited and trained helps the company enhance its leadership position in a fiercely competitive travel industry.
Not resting on the glory and laurels of Akbar Travels alone, Mr. Nazar diversified into other fields to form the Akbar Group consisting of Akbar Travels and Benzy.
Today, Akbar Group generates a turnover of more than Rs.1,500 crores,an outstanding achievement.
Akbar Travel of India Pvt.Ltd.
µTotal Service¶ is the motto, which drives Akbar Travels to offer and organize all travel related services under one umbrella.
y Domestic and International Travel
y Car Rentals
y Swagat Sewa (Customer Care) at various Airports
y Visa Services
y Travel Insurance
y FOREX Services
y Arranging Special Flights for Peak Season Demands( for Corporate Incentive Groups and Religious groups )
y Hotel Booking
y Eurail Passes
y Cruise Booking
y FIT / GIT Group Booking
Awards and Accolades from Airlines
y Awards are rewards for hard work. The Akbar Group always motivated its people to perform better and set new records. The commitment led to No.1 position in productivity to all major airlines. A showcase of awards is the natural outcome of a company who firmly believes in the fact that ,'excellence is a direction not a destination'.
But, instead of sitting on its laurels, these awards are an impetus for the employees to scale new heights.
TRAVEL TIPS
y Keep your passport, tickets and money separately.
y Put a photocopy of your passport in each your luggage.
y Travel with mosquito repellents and other essential medicines.
y Label your entire luggage with name and address.
y In place of cash Travellers' cheques or Visa Travel Card are best.
y Carry some empty plastic ziplock bags.
y For your plane ticket Confirm, reconfirm, confirm once again.
y Make a list of all your personal medicinesthat you are carrying with you and carry the ist with you.
y Make a list of all the things you forgot while travelling and use the list before your next trip.
LUGGAGE LOST
y For starters, don't panic. Most luggage is only delayed, not lost permanently.
y File a missing-luggage form--even if the airline agent insists that your bags will turn up on the next flight. And take a copy of that with you.
y Ask about the airline's immediate reimbursement policy.
y Cash for major purchase immediately.
y Daily stipend y The best way to lessen the chances your valuables will be lost is to carry them with you.
y Be sure to check in as early as possible to make sure both you and your luggage make the flight. Try to schedule a reasonable amount of time--at least 45 minutes--between connecting flights.
y Consider buying additional insurance
TRAVELLING WITH VALUABLE BUSINESS RELATED ITEMS
y Keep your laptop in a case that doesn't immediately identify it as a computer. The same advice holds true for cameras, VCRs, etc.
y Do not put your laptop on the conveyor belt to be x-rayed. Rather, ask the security guard to conduct a manual search of the computer and any other electronic equipment you may have with you.
y Once on the airplane, keep your laptop nearby.
y Keep your computer underneath the seat in front of you.
y Always travel with extra batteries and call the hotel ahead of time to make sure it has modems and data ports.
y Pack an extension cord so you can use the laptop from your preferred spot
DRIVING ABROAD
y Obtain an International Drivers Permit (IDP).
y Have your Passport photographs ready.
y Carry both your IDP and your State Driver's License with you at all times.
PACKING TIPS FOR AIRLINE TRAVEL y Some items that should never be put in the bag you plan to check into the cargo compartment of the aircraft:
y Small valuables: cash, credit cards, jewelry, cameras.
y Critical items: medicines, keys, Passport, tour vouchers, business papers.
y Irreplaceable items:manuscripts, heirlooms.
y IFragile items:eyeglasses, glass containers, liquids.
y Remember that the only way to be sure your valuables are not damaged or lost is to keep them with you.
y If you are traveling on more than one airline, check with the airline for its limits on the size, weight, or number of carry-on pieces. (There is no single standard applicable.)
y If you plan to go shopping at your destination and bring your purchases aboard as carry-on, keep the limits in mind. Carry the receipts separately.
y Don't put anything into a carry-on bag that could be considered a weapon (e.g. scissors, penknife).
y Ask the airlines about the limit for every segment of your international trip before you leave home, especially if you have a stopover of a day or two or if you are changing carriers.
y The bags you check should be labeled - inside and out - with your name, address and phone number.
HEALTH
y Before going on a trip and especially when traveling to third-world nations and to locales off-the-beaten-track, we advise you to check over your personal health insurance policy to see what you are covered for while on your trip. y If you plan to drive, you should check to see whether your driver's insurance policy covers you when traveling outside your country. It is almost a certainty that if you intend to drive, you should obtain car insurance in the country you are visiting as your local insurance may not be recognized.
y The possibility of tour company, cruise company, hotel and/or airline bankruptcy. You should be aware that bankruptcy insurance has many technicalities and loopholes. So ask detailed questions and read the coverage and exclusions carefully.
y The possibility that you will get ill or injured and need emergency medical evacuation: Remember that if you need to be evacuated and don't have insurance, you will have to pay for the evacuation. This can run into U.S. $10,000 and up.
y The availability of call-in services such as emergency medical referral, emergency cash advance, emergency message relay, and medication replacement: Having one number that you can call to arrange emergency services can give tremendous peace of mind. If you are going off-the-beaten- track make sure that these services will be available in the particular country you are visiting.
COMPANY¶S MANAGEMENT
The Management of the Company vests in the Board of Directors consisting of minimum 7 Directors. The Board shall exercise all supervision over the Company and shall discharge this function by action in relation to all significant matters. However, the Board of Directors has appointed the Chief Executive who is fully conversant with the business of the Company and he will be responsible to manage the day to day business affairs of the Company.
BOARD OF DIRECTORS
Name and Address Occupation Other directorships
CHAIRMAN
1. Mr. John Noel Laxton Business (i) IPC International Power 5204 Marine Drive Executive Corporation, Canada
West Vancouver
V7W2PS (ii) Noel Developments (Nominee of BCHIL- Limited, Canada Southern)
CHIEF EXECUTIVE
2. Mr. Ali Mahmood Business (i) Southern Electric Limited Bani Gala, P. O. NIH Executive
Islamabad
DIRECTORS
3. Mr. Stanley Alan Ridley Business (i) B.C. Hydro International 830 W. 64th Avenue, Executive Limited, Canada
Vancouver (ii) B.C. Hydro International
B. C. Canada Transpower Corporation
(Nominee of BCHIL- Cayman Islands
Southern) (iii) B.C. Hydro International
Power Development
Coporation, Canada
(iv) BCHIL Southern Company
Limited , Cayman Islands
(v) SEP Holdings Corporation,
Cayman Islands
Mr. Mohammad 4. Banker (i) Sui Northern Gas Munawar Chariman NDFC Pipelines Limited
6th Floor (ii) Oil & Gas Development
Finance & Trade Centre Corporation
Karachi (iii) Regional Development (Nominee of NDFC) Finance Corporation
(iv) Pakistan Telecommunication Corporation
(v) The Hub Power Company Limited
(vi) Pakistan Automobile Corporation Limited
(vii) State Engineering Corporation (Pvt.) Ltd
5. Mr. Khurshid Hadi Business (i) First Leasing Corporation First Leasing Executive Limited Corporation Limited (ii) THK Financial Services Finance & Trade Centre (Pvt.) Limited
Shahra-e-Faisal, (iii) MCR (Pvt.) Limited Karachi (Nominee of First Network Leasing (iv) Leasing Corporation Corporation Limited) Limited
(v) Muhibah Aviation (Pvt.) Ltd (vi) Newsline Publications (Pvt.) Limited (vii) Taurus Securities Limited (viii) Scientific & Technological Development Corporation of Pakistan Limited (ix) Southern Electric Limited
6. Mr. Mohammad Akram Business (i) Souhtern Electric Limited Khan Executive
H. No. 7, St. No. 53
F-7/4, Islamabad
7. Mrs. Sughra Mahmood Business (i) Southern Travels (Pvt.) Ltd. Bani Gala, P. O. NIH Executive (ii) Southern Electric Limited Islamabad
8. Mr. Sultan Kurji Business (i) Bowness Bakery (Alberta) Vancouver, Canada Inc., Canada
(Nominee of BCHIL- (ii) Tajico Vista Inc., Canada Southern) (iii) Tajico Holdings Inc., Canada (iv) Millboro Enterprises Ltd., Canada (v) Waterfront Hospitality, Canada (vi) Bustani Developers Ltd., Kenya
INFORMATION IN RESPECT OF ASSOCIATED PAKISTANI LISTED COMPANIES
Details of dividend, right and bonus declared during the last five years:
Sr. Name of company Y E A R S No. 1995 1994 1993 1992 1991 % % % % %
1. First Leasing Corporation Ltd
Incorporated on 31-01-1991 Cash - 20% 20% - -
Network Leasing Corporation 2. Ltd Incorporated on 19-08-1993 - N.A. N.A. N.A. N.A.
OVERDUE LOANS
The above companies have no overdues payable to any bank or financial institution.
CHIEF EXECUTIVE
Ali Mahmood. Mr. Ali Mahmood is a lawyer by education. He has considerable experience in various development projects throughout the world, including, in the United Arab Emirates, a diesel power station at AI-Ain and the Hotel Intercontinental Abu Dhabi. Mr. Mahmood has held office as a governing member of the Karachi Chamber of Commerce and Industry in the years 1972-73 and also served as a Senator in the Pakistan Senate in the year 1976 till the Assemblies were dissolved. Mr. Ali Mahmood is drawing a salary of Rs.116,000/- per month with usual company benefits. No compensation is payable to the Chief Executive for the loss of office.
COMPANY SECRETARY
Syed Akbar Kazim. Syed Akbar Kazim, possesses degrees in business administration from Pakistan, and USA. He has had several years of experience in corporate and project finance with Citibank before joining the group as Director Finance. He is also the Company Secretary. He is not being paid any remuneration by the Company for acting as Secretary and no compensation is payable to the Secretary for the loss of his office.
NUMBER OF DIRECTORS
Pursuant to Section 178 of the Companies Ordinance, 1984, the number of Directors of the Company shall not be less than seven.
QUALIFICATION OF DIRECTORS
Save as provided in Section 187 of the Companies Ordinance, 1984 no person shall be appoint- ed as a Director unless he is a member of the
Company.
INTEREST OF DIRECTORS
All the Directors may be deemed to be interested to the extent of fee, if any, payable to them for attending the board meetings.
The Directors may also be regarded as interested in the shares that may be held by them or by the companies in which they are directors and interested in the dividends to be declared on the shareholding of that company.
The Directors performing whole time service to the Company may also be deemed to be interested in the remuneration payable to them by the company. The directors may also be regarded to be interested to the extent of loans advanced to the company from time to time by them and by the companies in which they are directors.
INTEREST OF DIRECTORS IN PROPERTY ACQUIRED BY THE COMPANY
None of the Directors of the Company had or have any direct interest in any property acquired or now proposed to be acquired by the Company.
BENEFITS TO PROMOTERS AND OFFICERS
No benefit has been given to the officers of the company otherwise than remuneration for ser- vices rendered as whole time executives of the company.
ELECTION OF DIRECTORS
The present directors (except Mr. Mohammad Munawar of NDFC) of the Company were re- elected with effect from 31 December 1995 for a period of three years at the first Annual General Meeting.
VOTING RIGHTS
On a show of hand every member present in person shall have one vote except for election of Directors in which case the provisions of Section 178 of the Companies Ordinance, 1984 shall apply. On a poll every member present in person or by proxy shall have voting rights as laid down in Section 160 of the Companies Ordinance, 1984.
BORROWING POWERS
The Board may exercise all the powers of the Company to borrow money and to mortgage or change its undertaking, property and assets (both present and future), and to issue debentures, debenture stock, TFCs and other securities whether outright or collateral security for any debt, liability or obligation of the Company as provided for in the Article of Association of the Company. INTRODUCTION
Tourism is travel for recreational, leisure or business purposes. The World Tourism Organization defines tourists as people who "travel to and stay in places outside their usual environment for more than twenty-four (24) hours and not more than one consecutive year for leisure, business and other purposes not related to the exercise of an activity remunerated from within the place visited." Tourism has become a popular global leisure activity.
Tourism is vital for many countries, such as Egypt, Greece, Lebanon, Spain and Thailand, and many island nations, such as The Bahamas, Fiji, Maldives, and the Seychelles, due to the large intake of money for businesses with their goods and services and the opportunity for employment in the service industries associated with tourism. These service industries include transportation services, such as airlines, cruise ships and taxicabs, hospitality services, such as accommodations, including hotels and resorts, and entertainment venues, such as amusement parks, casinos, shopping malls, music venues and theatres.
History
Wealthy people have always travelled to distant parts of the world, to see great buildings, works of art, learn new languages, and experience new cultures and to taste different cuisines. Long ago, at the time of the Roman Republic, places such as Baiae were popular coastal resorts for the rich. The word tourism was used by 1811 and tourist by 1840.[23] In 1936, the League of Nations defined foreign tourist as "someone traveling abroad for at least twenty-four hours". Its successor, the United Nations, amended this definition in 1945, by including a maximum stay of six months.
TYPES OF TOURISM
Leisure travel
Leisure travel was associated with the Industrial Revolution in the United Kingdom ± the first European country to promote leisure time to the increasing industrial population. Initially, this applied to the owners of the machinery of production, the economic oligarchy, the factory owners and the traders. These comprised the new middle class. Cox & Kings was the first official travel company to be formed in 1758.
Many leisure-oriented tourists travel to the tropics, both in the summer and winter. Places of such nature often visited are: Bali in Indonesia, Brazil, Cuba, the Dominican Republic, Malaysia, Mexico the various Polynesian tropical islands, Queensland in Australia, Thailand, and Florida, Hawaii and Puerto Rico in the United States. Winter tourism
Major ski resorts are located mostly in the various European countries (e.g. Andorra, Austria, Bulgaria, Czech Republic, France, Germany, Iceland, Italy, Norway, Poland, Sweden, Slovenia, Spain, Switzerland), Canada, the United States, New Zealand, Japan, South Korea, Chile, Argentina, Kenya and Tanzania.
Mass tourism
Mass tourism could only have developed with the improvements in technology, allowing the transport of large numbers of people in a short space of time to places of leisure interest, so that greater numbers of people could begin to enjoy the benefits of leisure time.
In the United States, the first seaside resorts in the European style were at Atlantic City, New Jersey and Long Island, New York.
In Continental Europe, early resorts included: Ostend, popularized by the people of Brussels; Boulogne-sur-Mer (Pas-de-Calais) and Deauville (Calvados) for the Parisians; and Heiligendamm, founded in 1793, as the first seaside resort on the Baltic Sea.
Adjectival tourism
Adjectival tourism refers to the numerous niche or specialty travel forms of tourism that have emerged over the years, each with its own adjective. Many of these have come into common use by the tourism industry and academics.Others is emerging concepts that may or may not gain popular usage. Examples of the more common niche tourism markets include: y Agritourism y Medical tourism
y Culinary tourism y Nautical tourism
y Cultural tourism y Pop-culture tourism
y Ecotourism y Poverty tourism
y Extreme tourism y Religious tourism
y Geotourism y Space tourism
y Heritage tourism y War tourism
y LGBT tourism y Wildlife tourism
Recent developments
There has been an upmarket trend in the tourism over the last few decades, especially in Europe, where international travel for short breaks is common. Tourists have high levels of disposable income, considerable leisure time, are well educated, and have sophisticated tastes.There is now a demand for a better quality products, which has resulted in a fragmenting of the mass market for beach vacations; people want more specialised versions, quieter resorts, family-oriented holidays or niche market-targeted destination hotels.
The developments in technology and transport infrastructure, such as jumbo jets, low-cost airlines and more accessible airports have made many types of tourism more affordable. WHO estimates that up to 500,000 people are on planes at any time. There have also been changes in lifestyle, such as retiree-age people who sustain year round tourism. This is facilitated by internet sales of tourism products. Some sites have now started to offer dynamic packaging, in which an inclusive price is quoted for a tailor-made package requested by the customer upon impulse. There have been a few setbacks in tourism, such as the September 11 attacks and terrorist threats to tourist destinations, such as in Bali and several European cities. Also, on December 26, 2004, a tsunami, caused by the 2004 Indian Ocean earthquake, hit the Asian countries on the Indian Ocean, including the Maldives. Thousands of lives were lost and many tourists died. This, together with the vast clean-up operation in place, has stopped or severely hampered tourism to the area.
The terms tourism and travel are sometimes used interchangeably. In this context, travel has a similar definition to tourism, but implies a more purposeful journey. The terms tourism and tourist are sometimes used pejoratively, to imply a shallow interest in the cultures or locations visited by tourists
Tourism in India
Tourism is the largest service industry in India, with a contribution of 6.23% to the national GDP and 8.78% of the total employment in India. India witness¶s more than 5 million annual foreign tourist arrivals and 562 million domestic tourism visits. The tourism industry in India generated about US$100 billion in 2008 and that is expected to increase to US$275.5 billion by 2018 at a 9.4% annual growth rate. The Ministry of Tourism is the nodal agency for the development and promotion of tourism in India and maintains the "Incredible India" campaign.
According to World Travel and Tourism Council, India will be a tourism hotspot from 2009±2018, having the highest 10-year growth potential. The Travel & Tourism Competitiveness Report 2007 ranked tourism in India 6th in terms of price competitiveness and 39th in terms of safety and security. Despite short- and medium-term setbacks, such as shortage of hotel rooms, tourism revenues are expected to surge by 42% from 2007 to 2017.[7]
India has a growing medical tourism sector. The 2010 Commonwealth Games in Delhi are expected to significantly boost tourism in India.
Delhi
Delhi is the capital city of India. A fine blend of old and new, ancient and modern, Delhi is a melting pot of cultures, religions. Delhi has been the capital of numerous empires that ruled India, making it rich in history. The rulers left behind their trademark architectural styles. Delhi currently has many renowned historic monuments and landmarks such as the Tughlaqabad fort, Qutub Minar, Purana Quila, Lodhi Gardens, Jama Masjid, Humayun's tomb, Red Fort, and Safdarjung's Tomb. Modern monuments include Jantar Mantar, India Gate, Rashtrapati Bhavan, Laxminarayan Temple, Lotus temple and Akshardham Temple.
New Delhi is famous for its British colonial architecture, wide roads, and tree-lined boulevards. Delhi is home to numerous political landmarks, national museums, Islamic shrines, Hindu temples, green parks, and trendy malls. Goa
Goa is one of the most famous tourist destinations in India. A former colony of Portugal, Goa is famous for its excellent beaches, Portuguese churches, Hindu temples, and wildlife sanctuaries. The Basilica of Bom Jesus, Mangueshi Temple, Dudhsagar Falls, and Shantadurga are famous attractions in Goa. Recently a Wax Museum (Wax World) has also opened in Old Goa housing a number of wax personalities of Indian history, culture and heritage.
The Goa Carnival is a world famous event, with colorful masks and floats, drums and reverberating music, and dance performances. The celebrations run three days culminating in a carnival parade on fat Tuesday
Kerala
Kerala is a state on the tropical Malabar Coast of southwestern India. Nicknamed as one of the "10 paradises of the world" by National Geographic, Kerala is famous especially for its ecotourism initiatives. Its unique culture and traditions, coupled with its varied demography, has made it one of the most popular tourist destinations in India. Growing at a rate of 13.31%, the tourism industry significantly contributes to the state's economy.
Kerala is known for its tropical backwaters and pristine beaches such as Kovalam.
Maharashtra
Maharashtra is the second most visited state in India by foreign tourists,[11] with more than 2 million foreign tourists arrivals annually. Maharashtra boasts of a large number of popular and revered religious venues that are heavily frequented by locals as well as out-of-state visitors.
Ajanta Caves, Ellora Caves and Victoria Terminus are the three UNESCO World Heritage sites in Maharashtra and are highly responsible for the development of Tourism in the state.
Mumbai is the most cosmopolitan city in India, and a great place to experience modern India. Mumbai famous for Bollywood, the world's largest film industry. In addition, Mumbai is famous for its clubs, shopping, and upscale gastronomy. The city is known for its architecture, from the ancient Elephanta Caves, to the Islamic Haji Ali Mosque, to the colonial architecture of Bombay High Court and Victoria Terminus.
Maharashtra also has numerous adventure tourism destinations, including paragliding, rock climbing, canoeing, kayaking, snorkeling, and scuba diving in places like Kolad, Tarkarli, Koyna, Manor. Maharashtra also has several pristine national parks and reserves, some of the best ones are Tadoba with excellent accommodation and safari experiences besides little known by amazing wildlife destinations like Koyna, Nagzira (very small with incredible sightings), Melghat (disturbed with massive mining truck movement), Dajipur, Radhanagari and of course the only national park within metropolic city limits in the world - Sanjay Gandhi National Park. The Bibi Ka Maqbara at Aurangabad the Mahalakshmi temple at Kolhapur, the cities of Nashik, Trimbak famous for religious importance and the city of Pune the seat of the Maratha Empire and the fantastic Ganesh Chaturthi celebrations together contribute for the Tourism sector of Mahrashtra.
Punjab
The state of Punjab is renowned for its cuisine, culture and history. Punjab has a vast public transportation and communication network. Some of the main cities in Punjab are Amritsar, Chandigarh, and Ludhiana. Punjab also has a rich religious history incorporating Sikhism and Hinduism. Tourism in Punjab is principally suited for the tourists interested in culture, ancient civilization, spirituality and epic history. Some of the villages in Punjab are also a must see for the person who wants to see the true Punjab, with their beautiful traditional Indian homes, farms and temples, this is a must see for any visitor that goes to Punjab. India-Pakistan border at Wagha is also a popular tourist attraction.
Tourism Industry- A Special Focus on India
India¶s tourism industry is experiencing a strong period of growth, driven by the burgeoning Indian middle class, growth in high spending foreign tourists, and coordinated government campaigns to promote µIncredible India¶.
The tourism industry in India is substantial and vibrant, and the country is fast becoming a major global destination. India¶s travel and tourism industry is one of them most profitable industries in the country, and also credited with contributing a substantial amount of foreign exchange. This is illustrated by the fact that during 2006, four million tourists visited India and spent US $8.9 billion. Several reasons are cited for the growth and prosperity of India¶s travel and tourism industry. Economic growth has added millions annually to the ranks of India¶s middle class, a group that is driving domestic tourism growth. Disposable income in India has grown by 10.11% annually from 2001-2006, and much of that is being spent on travel.
Thanks in part to its booming IT and outsourcing industry a growing number of business trips are made by foreigners to India, who will often add a weekend break or longer holiday to their trip. Foreign tourists spend more in India than almost any other country worldwide. Tourist arrivals are projected to increase by over 22% per year through till 2010, with a 33% increase in foreign exchange earnings recorded in 2004.
The Tourism Ministry has also played an important role in the development of the industry, initiating advertising campaigns such as the 'Incredible India' campaign, which promoted India¶s culture and tourist attractions in a fresh and memorable way. The campaign helped create a colorful image of India in the minds of consumers all over the world, and has directly led to an increase in the interest among tourists.
The tourism industry has helped growth in other sectors as diverse as horticulture, handicrafts, agriculture, construction and even poultry.
Both directly and indirectly, increased tourism in India has created jobs in a variety of related sectors. The numbers tell the story: almost 20 million people are now working in the India¶s tourism industry.
India¶s governmental bodies have also made a significant impact in tourism by requiring that each and every state of India have a corporation to administer support issues related to tourism.
A new growth sector is medical tourism. It is currently growing at around 30% per annum. Medical tourist arrivals are expected to reach one million soon. The tourism industry of India is based on certain core nationalistic ideals and standards which are: Swaagat or welcome, Sahyog or cooperation, Soochanaa or information, Sanrachanaa or infrastructure, Suvidha or facilitation, Safaai or cleanliness and Surakshaa or security.
The following table provides the major tourist attractions in India by state:
Tourist AttractionStateCharminarHyderabad, Andhra PradeshKaziranga National ParkAssamQutub MinarDelhiMangueshi TempleGoaShimlaHimachal PradeshDal LakeJammu and KashmirJog FallsShimoga District, KarnatakaKovalam BeachKeralaAmarkantakMadhya PradeshAjantaMaharashtraPuriOrissaGolden TempleAmritsar, PunjabJaipurRajasthanChennaiTamil NaduBadrinath TempleUttarakhandVaranasiUttar PradeshVictoria MemorialKolkata, Bengal
COMPETITORS
1) COSMOS AGENCIES
2) RAJA RANI TOURS AND TRAVELS
3) KESARI TOURS PVT. LTD
4) GUPTA TRAVEL AGENCY
5) SHUBH YATRA TRAVELS
6) EMMANUEL TRAVELS AND TOURS
7) JAI MATA DI TRAVELS
8) MAHESH TRAVELS AND TOURS
9) GREEN INTERNATIONAL
10) LINK WAY TOURIST CO.
11) POOJA TRAVELS
12) DESTINATION TOURS AND TRAVELS
Year of Establishment 1977 Legal Status of Firm Limited Liability/Corporation (Privately Held) Nature of Business Service Provider Number of Employees 501 to 1000 People Turnover More than US$ 100 Million (or > Rs. 400 Crore Approx.) Major Markets Indian Subcontinent and Middle East
RESEARCH METHODOLOGY
OBJECTIVE
PRIMARY SECONDARY
PROFIT Orbitz posts profit, gets investments
Online-travel company Orbitz Worldwide Inc. said Thursday it turned a profit in the third quarter, after charges hurt results a year earlier.
The Associated Press
CHICAGO Ͷ
Online-travel company Orbitz Worldwide Inc. said Thursday it turned a profit in the third quarter, after charges hurt results a year earlier.
Separately, the company said it received equity investments totaling $100 million from PAR Investment Partners and Blackstone-controlled Travelport.
Orbitz said it earned $7 million, or 8 cents per share. That fell shy of the profit of 12 cents per share that analysts on average expected, according to a survey by Thomson Reuters. A year ago, Orbitz reported a loss of $287 million, or $3.44 per share, weighed down by a $297 million impairment charge on intangible assets.
Revenue fell 22 percent, to $187 million, while analysts expected $202 million.
Orbitz blamed the revenue drop on the removal of its air-booking fees and a reduction in hotel- booking fees.
Revenue from air and non-air bookings declined, though the company said the total number of air bookings rose 27 percent.
Orbitz fell 50 cents, or 9.2 percent, to $4.91 in morning trading. The shares are up 39 percent for the year.