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Destinations, investors, developers and operators around the world are increasingly realizing the economic benefits and growth potential of Travel&Tourism globally. The challenge lies in bringing together public and private sector entities looking to attract partners for development with investors, business operators and entrepreneurs seeking new business opportunities.
June 2008 saw the official launch of TourismROI, a website designed to address this challenge. The site www.TourismROI.com is the first centralized source of information for tourism operations, development and investment opportunities worldwide. Based on the principle of massive collaboration, the website organizes and presents the vast amounts of Travel &Tourism information and research online in one easily accessible and useable site.
After 16 years as EVP responsible for economic research and tourism policy development with the World Travel &Tourism Council, TourismROI CEO and managing partner Richard Miller recognized that there was a real need for an efficient method of matching a destination’s tourism development, investment opportunities and B2B communications with appropriate investors, developers and operators.
The resulting website serves as a virtual tourism investment marketplace. It provides current and real-time information about the tourism industry to enable participants to make current and future operating, business and investment decisions. It allows destinations and developers to post investment opportunities; business operators such as hotel companies and brokers to list business opportunities, and entrepreneurs to post their business plan pitch for new projects.
TourismROI offers hospitality operators and investors a vehicle for sharing information on such items as new sites, management opportunities, financing needs and availability. It also provides a wide range of tools that speed up the entire investment and business decision-making process.
Hotel and resort operators and developers can find or promote properties for development, or businesses for sale/lease or management. The site provides them with visibility in their target markets and access to their management or development projects by investors, funding sources, buyers, partners and professional service providers globally. This might involve hotel management contracts or a chain seeking to manage a property.
Potential investors can identify, review and monitor the full spectrum of existing Travel&Tourism investment opportunities: resorts, hotels, airports, convention centers, recreation and entertainment, tour and transportation companies, food&beverage outlets, retail and more.
TourismROI also facilitates access to timely industry and investment news and events, plus publications, reports and statistics from local, regional and global Travel&Tourism organizations, private consulting and research firms.
TourismROI is a joint venture between Mr. Miller and MMG Worldwide, a US$100 million full-service global advertising and marketing firm with more than 25 years experience in the hospitality, travel and entertainment industries.
Richard Miller commented, “The objective of TourismROI was to build a tool that will help governments and their private sector partners to capitalize on the potential in the Travel &Tourism industry, as well as create a central hub for B2B information sharing to better understand and promote the industry.”
TourismROI has been recognized by a number of influential national and international public and private sector organizations including: the Caribbean Hotel Association (CHA), Africa Travel Association (ATA), Caribbean Tourism Organization (CTO), Pacific Asia Travel Association (PATA), the Travel Industry Association of America (TIA), the United Nations Conference on Trade and Development (UNCTAD), the World Tourism Organization (UNWTO), the World Bank, WTTC, the World Economic Forum and many others.
Jean-Claude Baumgarten, president and chief executive of the World Travel &Tourism Council, said: “As a founding sponsor of TourismROI, WTTC recognizes the need for a centralized resource to facilitate the rapidly expanding interest in Travel &Tourism development and investment globally. According to our latest research, worldwide, Travel&Tourism in economic terms is expected to grow at a level of 4.0 % per year over the next ten years. This creates an opportunity for every country in the world to be part of this process and to share the benefits. TourismROI will provide governments, operators and investors with easy access to much needed information.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
