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Essay / Research Paper Abstract
A 10 page paper discussing the financial results at this Hong Kong hotel group following the terrorist attacks of September 11, 2001. Room rates and occupancy rates were recovering slowly by the end of 1Q2002, and to the point that the hotels' management could have been justified in raising rates on its guest rooms. It chose to keep them lower, however, allowing it to better compete and to retain service levels of associated services such as restaurant and lounge operations. The paper discusses economic conditions before the attacks and the effects of the terrorist attacks on international travel. Bibliography lists 5 sources.
Page Count:
10 pages (~225 words per page)
File: CC6_KShotFinAn2.rtf
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Unformatted sample text from the term paper:
A country music performer in the United States wrote and recorded a song containing the words, "Where were you when the world stopped turning that September day?" The
terrorist attacks on New York and Washington on September 11 changed more than only airport and airline security measures. Airlines were grounded for several days, but passengers were not
of a mind to continue their travel plans after commercial carriers resumed service while the search for survivors and bodies continued. The economies of much of the developed world
already had turned soft, and there was speculation that the US would enter a market-correcting recession even before the terrorist attacks. The US economy was teetering on the edge;
the attacks pushed it on over into recession. Implications were felt literally around the world in the hospitality and travel industry. The
purpose here is to assess the quality of financial management during the period at The Hongkong and Shanghai Hotels, LTD. The 2001
Economic Turning Point The fallout of the terrorist attacks affected far more than only the US airline industry. Would-be travelers were forced
to cancel plans while the airlines were grounded, meaning that hotel and car rental reservations had to be canceled, and the travelers expenditures would not be taken into other local
economies. This was only a short-term situation; US airlines resumed operations only three days after the attacks. Travelers were not so open
to resuming their plans, however. US travelers were more nervous about traveling than were citizens of other developed nations, but reports had been clear that while the US was
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