CONSUMER PERCEPTION ABOUT TRAVEL HOUSES

A training report submitted in partial fulfillment of the requirement for the degree of

MASTERS OF BUSINESS ADMINISTRATION (2009-2011)

Submitted by: Name of Student: GURJEIT SINGH MBA 2nd SEM Roll No.: 22

Synopsis

Travel and Tourism Industry provides employment and generate revenue for many economies across the world. India is in the initial stage in this industry. It has the potential to emerge as one of the top 10 favourite tourist destinations of the world within next 5 years. With this, there is a rise in Travel Management Organisations in recent years. With competition in mind there is always a race to attract more customers. So, the topic for research decided is Consumer Perception about Travel Houses. This study was initiated to explore the various dimensions of the market and identify new areas where Travel Houses can effectively position its services, based on consumer perceptions and needs. The scope of this study is to understand the needs of the travellers and make travel houses competent with world class services.

The study shall be based on the mix of primary and secondary sources of information. Primary source shall comprise of surveys and personal interviews with regular and walk-in customers, where as secondary source shall be information from websites of various agencies, published data from Journals, articles of Tourism and Hospitality management, and other publications in related areas. Reports from Ministry of Tourism, Govt. of India shall provide general information on travel trends as well as on specific geographical markets. These reports also provide details about future market development activities at various cities. It provides in-depth knowledge on tourism trends in India and help to capture the direct as well as indirect impact of tourism on the Indian economy. Internet is also one of the sources for data collection. Consumer survey shall be conducted by telephone and in person at Chandigarh and Mohali. Personal interviews shall be conducted with the help of senior executives of

International Travel House Ltd. and get suggestions to improve the services. Focus shall be to understand the requirement and perception of consumers towards travel houses. Questionnaires shall be the main source of primary data. Statistical techniques i.e. Bar Diagrams, Pie Charts shall be used for analysis. Following is the methodological roadmap which shall be followed.

Methodological Roadmap Step Work No. 1. Industry and Organization introduction How travel and tourism industry works and its potential? Services provided by the organization and its USP. 2. Analysis of choices and trends Knowing customers preference and decision factors for new tourist destinations. 3. Opinion survey conducted Understanding consumers Questionnaire, Internet, Journals, Helpful for understanding the behavior Experience of senior employees. Offering tour packages to customers. Website of MoT and ITH. Knowledge of the industry and organisation. Outcome Data Source Usage

preferences, demand Reports and

through questionnaires

and perception.

Magazines.

and choices of consumers.

4.

Analysis of the survey

Organization getting customer friendly with world class services.

Questionnaire

To reach the consumer with improved services and cut competition.

Following shall be the organizations gain through from the project: Customers perception about travel agent and travel house Peak season of travelling, vacation Identification of travellers by the combination of age, income, and services availed
Understanding the quality of services maintained

Knowing the competitors in a better way Consumers expectation from travel houses

Acknowledgement

I would like to extend my sincere thanks to my advisor, without whose support this summer training project could not have been completes. I thank Mr. Sonit Soni (Supervisor Sales) at International Travel House Ltd., for espousing and encouraging me throughout the training. I also wish to thank employees of International Travel House Ltd.

for sharing their experiences and expertise with me.

Rattan Professional Education College, Dr. Ramanjeet Singh (Principal) and faculty members guided me throughout in my training to show the light of the day to this report. Otherwise, it would have been a distant reality.

I acknowledge the support of the participants who provided me valuable insights during survey. I extend my heartfelt thanks to my well-wishers.

I am also thankful to god for always being there.

Gurjeit Singh

Consumer Perception About Travel Houses

ii

Table of Contents
NO. TITLE PAGE NO.

Training Completion Certificate Acknowledgement Table of Contents List of Tables List of Figures List of Abbreviations Executive Summary Chapter 1 1.1 1.2 1.3 1.4 1.5 1.6 Chapter 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 Chapter 3 3.1 3.2 3.3 Introduction to Industry Role of Tourism in Indias GDP Types of Tourism in India Adventure Tourism Cultural Tourism Ecotourism Heritage Tourism Introduction to Organization Board of Directors ITHL Code of Conduct History / Time Line Why ITHL Services Offered Business Operations Financial Performance Future Prospects Awards & Recognitions Registered & Corporate Office Competitors Introduction to Products Cruise Holidays International Holidays India Holidays i ii iv v vi viii
1

6 10 13 14 15 16
17

18 20 21 24 25 28 29 30 30 31 32
33

33 34 34

Consumer Perception About Travel Houses

iii 3.4 3.5 3.6 3.7 Chapter 4 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 Chapter 5 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 Chapter 6 Royal Indian Weddings MICE Overseas Travel Insurance Cover Money Changer Research Methodology Background of Problem Undertaken Scope of Study Rational of Study Purpose of Research Sampling Design Sources of Data Objectives of the Study Methodological Roadmap Analysis and Interpretation Test of Hypothesis Procedure for Testing Hypothesis Chi- square Test Testing Of Hypothesis Data Presentation & Analysis Limitations of Study Findings of Study Recommendations Conclusion Bibliography Questionnaire 35 37 41 44
45

45 45 46 46 46 47 48 49
50

50 51 51 53 55 63 63 64
65

66 69

Consumer Perception About Travel Houses

iv

List of Tables
TABLE NO. TITLE PAGE NO.

1.1 2.1 5.5 5.6 5.7 5.8 5.9 5.10 5.11 5.12 5.13 5.14 5.15 5.16 5.17

Ten most visited countries Composition of the Board of Directors as on 31 March 2010 Table showing sample population distribution Sample population under various age groups Income distribution of sample population Type of travel chosen by respondents No. of times respondents travel in a year Annual travelling budget of respondents Travel packages already availed by respondents Preferential package choice of respondents Travel frequency trend followed by respondents Awareness level of respondents No. of respondents aware of ISO 9001 certified travel house No. of respondents availed the services of competitors Respondents rank distribution for ITHL services

5 18 55 58 58 59 59 59 60 60 61 61 61 62 62

Consumer Perception About Travel Houses

List of Charts
CHART NO. TITLE PAGE NO.

5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.9 5.10 5.11 5.12 5.13 5.14 5.15 5.16

Graphical presentation of sample population Graph shows sample population of age group 21-30 Graph shows sample population of age group 31-40 Graph shows sample population of age group 41-50 Graph shows sample population of age group 51-60 Sample population under various age groups Income distribution of sample population Type of travel chosen by respondents No. of times respondents travel in a year Annual travelling budget of respondents Travel packages already availed by respondents Preferential package choice of respondents Travel frequency trend followed by respondents Awareness level of respondents No. of respondents aware of ISO 9001 certified travel house No. of respondents availed the services of competitors

55 56 56 57 57 58 58 59 59 59 60 60 61 61 61 62

Consumer Perception About Travel Houses

vi

List of Abbreviations
ABBREVIATION FULL FORM

ITH / ITHL GDP US$ / USD INR bn UNWTO / WTO MICE PTI FTA FEE ITA ITC ISO IATA ICCA ASTA JATA PATA USTOA UFTAA TAAI ICPB TCIL

International Travel House Ltd. Gross Domestic Product United States Dollar Indian National Rupee Billion United Nations World Tourism Organisation Meetings, Incentives, Conferences, Exhibitions and Events Premier Travel Inn Foreign Tourist Arrival Foreign Exchange Earnings International Tourist Arrival Indian Tobacco Company Ltd. International Standards Organisation International Air Transport Association International Congress and Convention Association American Society of Travel Agents Japan Association of Travel Agents Pacific Asia Travel Association United States Tour Operators Association United Federation of Travel Agents' Associations Travel Agents Association of India India Convention Promotion Bureau Thomas Cook India Ltd.

Consumer Perception About Travel Houses

vii
ABBREVIATION FULL FORM

PHDCCI

Progress, Harmony and Development Chamber of Commerce and Industry (India)

TTG Asia BTN Asia Pacific WAN BTQ ROCE BSE D/E P/E FV MoT USP H0 H1 O E R C DOF

Travel Trade Gazette Asia (Magazine) Business Travel News Asia Pacific (Magazine) Wide Area Network Business Travel Quota Return on Capital Employed Bombay Stock Exchange Debt to Equity Ratio Profit Earning Ratio Face Value Ministry of Tourism, Govt. of India Unique Selling Proposition Null Hypothesis Alternative Hypothesis Observed Frequency Expected Frequency No. of rows No. of columns Degree of Freedom

Consumer Perception About Travel Houses

viii

Executive Summary
Introduction

Travel and Tourism is a major source of revenue in many countries of the world. Through structured and coordinated approach, there exists adequate opportunities for growth and development to international prominence, with consequent economic and social benefits to all. As tourism project the country, it subsequently boosts the economic development through wealth creation, raising the skill levels of the workforce and generating employment for the local populace. It is utmost urgent to tap travel and tourism in every region of the country. This study was undertaken to explore and identify new areas for Travel Houses to position its services effectively, based on consumer perceptions and needs.

Approach

Travel and Tourism Industry provides employment and generate revenue in many economies of the world. India has the potential to emerge as a favourite tourist destination in the world. It has registered phenomenal growth in the last decade ever since the Indian government decided to boost revenues from the tourism sector by projecting India as the ultimate tourist spot. With this, there is a rise in Travel Management Organisations in recent years. With competition in mind, there is always a race to attract more customers. This study helps to understand the needs of the travellers and make travel houses competent with world-class services.

The introductory chapter of this report gives an insight about the tourism industry. It briefly explains the history and projected growth of tourism sector. It also contains the organizational profile of International Travel House Ltd., stating its vision, mission, philosophy, structure, services and products, advertising effectiveness and finally about its business operations, financial profile, future

Consumer Perception About Travel Houses

ix prospects and challenges, competitors. This report is an analysis of inbound and outbound tourism in India. It suggests various projections (as given by MoT) about the trends and patterns of tourism under normal circumstances. Further, tourism experts (senior employees of ITHL) were requested to comment on the performance and the services provided by various travel houses. Their opinions were utilized in shaping the study.

Later, a questionnaire was made to conduct the survey. It was done over telephone and in person at Chandigarh and Mohali. For this study, 150 subjects were taken who had been customers of any of the travel houses. Of these 150 subjects, 80 of them were specifically ITH customers. Personal interviews were conducted with the support of senior executives of International Travel House Ltd. and the data collected was analyzed and interpreted. It was tabulated in percentage and depicted in the form of charts. It also includes the hypothesis of the present study.

Assumption

The sample population should be adults and not students. They must have availed the services of any travel house. They must be graduates.

Conclusion

Concisely, study of the analysis depicts that the customers appreciate ITHL services. The dissertation ends up with suggestions for higher growth.

Consumer Perception About Travel Houses

Introduction to Perception
Human beings may differ because of their differences & uniqueness. People often see the same situation/ phenomenon differently within the organization & outside the organization. For example: when there is an accident in the factory, the supervisor may treat it as the carelessness of worker while the worker may treat it as lack of adequate provision of security measures. Thus the situation remaining the same, cause has been assigned differently by different group of people. In order to understand why people see the same situation differently, one has to understand Perception & its different aspect.

What Is Perception?
Perception is a cognitive process. Cognition is basically bit of information; cognitive process involves the way in which people process/understand that information. Perception process involves selecting, organizing and interpreting the stimulus. Thus perception is the process selecting, organizing and interpreting or attaching meaning to the events happening in the environment. However, what one can perceive can be different from objective reality. Their need not be but there is often, disagreement. For example: its possible that all the employee in a firm may view it as a great place to work favorable working conditions, interesting job assignment, good pay and excellent benefit but as most of us know, its very unusual to find such agreement.

Features of Perception
Perception is the intellectual process through which a person selects the data from the environment, organizes it, and obtains meaning from it. Perception is a psychological process also. The manner in which people perceive the environment affects his behavior. Perception, being an intellectual and psychological process, becomes a subjective process and different people may perceive the same environmental event differently.

Perceptual Process
Perception process is explained by input-throughput-output approach. This approach emphasizes that there is input which is processed and gives output. Perceptual process present three elements of perception. These are existence of stimuli (objects, event, &people) perceptual mechanism (selecting, organizing, & interpretation) and perceptual outputs (attitude, opinion, & values). Perceptual output along with other determinant of human behavior affects and shape behavior. Let us see how perceptual process works in terms of its three basic elements.

1.

Perceptual Input: The stimuli in the environment- objects, events, or people - can be considered as the perceptual inputs. Thus everything in the setting where the events occur, or which contributes to the occurrence of the events, can be treated as perceptual input. When the perceiver interacts with a stimulus, sensation take place which starts perceptual process. (Sensation is described as the response of a physical sensory organ. The physical senses are vision, hearing, touch, smell, and taste.)

2.

Perception Mechanism: Perceptual mechanism involves three elements- selection of stimuli, organization of stimuli, and interpretation of stimuli.

3.

Selection Of Stimuli: After receiving the stimuli from the environment, some are selected for further processing while others are screened out because it is not possible for a person to select all stimuli which he see in the environment. There are two types of factors which affects the selection of stimuli. These are external and related to stimuli and internal related to the perceiver.

4.

Organisation of Stimuli: After the stimuli are selected these are organized in some form of in order to make sense out of that. The various forms of organizing stimuli are figure-ground, perceptual grouping, simplification and closure.

5.

Interpretation of Stimuli: The perceptual inputs that have been organized will have to be interpreted by the perceiver to extract some meaning of what is going on in the situation. People interpret the meaning of what they have selected and organized in term of their own assumption of people, things and situations. They interpret the things as good/bad, beautiful/ugly, and so on. Interpretation of stimuli is affected by situation under which perception take place and characteristics of perceiver.

6.

Perceptual Output: Based on perceptual mechanism that ends with interpretation of stimuli, perceptual output emerges. The output may be in the form of attitudes, opinions, beliefs, impression about the stimuli. This output along with other factors affecting human behavior may result in overt behavior.

Perceptual Selectivity
Perception is a selective process. While selecting certain aspects of stimuli are screened out and others are admitted. For example, when people read a newspaper, they do not read the entire newspaper but read only that news which interests them. This is known as perceptual selectivity. This is caused by variety of factors that may be grouped into two categories:

1. External factor

2. Internal factor

External Factors

The external factors are Nature, Location, Size, Intensity, Repetition, Novelty & Familiarity, Contrast and Motion. Their impact on the perceptual selectivity is as follow:

1.

Nature: By nature we mean, whether the object is visual or auditory, and whether it involves pictures, peoples or animals. It is well known that pictures attract attention more readily than words.

2.

Location: The best location of a visual stimulus for attracting attention is in the center of the page. When this position is not available in the newspaper or a magazine, a position in the upper portion of a page is more favourable than on in the lower portion and left hand side receive more attention than the right hand side.

3.

Size: Generally objects of larger or bigger size attract more attention than the smaller ones. For Example: in an advertisement in newspaper full page spread attract more attention than a few lines in the classified section.

4.

Intensity: The intensity principle states that more intense the external stimulus is, the more likely is to be perceived. A loud sound or bright light is noticed more as compared to soft sound, or dim light. For Example: Advertisements on televisions are slightly louder than the regular programmes to gain customers attention.

5.

Repetition: The repetition principle states that a repeated external environment is more attention- getting than a single one. Repetition increase peoples alertness to the stimulus. For example: Advertisers use this principle by repeated advertisement of the same product to attract peoples attention.

6.

Novelty & Familiarity: Novelty & familiarity principle state that either a novel or a familiar external situation can serve as attention-getter. New objects or events in a familiar setting, or familiar objects or events in new setting draw better attention.

7.

Contrast: Contrast is a kind of uniqueness, which can be used for attention getting. Letters of bold types, persons dressed differently than others, buildings of different colors in the same locality, etc. get more attention.

8.

Motion: Motion principle states that a moving object draws more attention as compared to a stationary object. For Example: commercial on televisions (moving ones) get more attention than print media.

Internal Factors

While external factors are related to environment stimuli, internal factors are related to the individuals complex psychological makeup or oneself. People generally select those stimuli and situation which are compatible to their personality, motivation, and other personal factors. Such factors are- self-concept, inner- needs response disposition, individual attitude, interest, learning, and experience. A brief description of their impact on perception selectivity is given.

1.

Self-Concept: The way a person views the world depends a great deal on the concept or image he has about himself. Knowing oneself makes it easier to see others accurately. Peoples own characteristics affect the characteristics which they are likely to see in others. They select only that aspects which they find match with their characteristics.

2.

Inner Needs: Peoples perception is determined by their inner needs. The need is feeling of tension or discomfort when one thinks him missing something or when he feels he has not quite closed a gap in his knowledge. People with different needs select different items to remember or respond to. When people are not able to satisfy their needs they are engaged in wishful thinking, which is a way to satisfy the needs not in real world but imaginary world , the day dreaming.

3.

Response Disposition: Response disposition refers to a persons tendency to perceive familiar stimuli rather than unfamiliar ones. Thus, a person perceives the things with which he is familiar. For Example: persons having dominant religious value took lesser time in recognizing such related word as priest whereas they took longer time in recognizing words related with economic value such as cost or price.

4.

Individual Attitude: The person tries to fit his attitude (whether positive or negative) in the situation and perceive something. For Example: if a person always thinks negative, he thinks that whatever is happen in his life will be negative; he will perceive everything in the negative way. On the contrary if he thinks positive, he is an optimistic, he will perceive everything in a positive way.

5.

Interest: If a person is interested in something, he will perceive that thing in better way. On the other hand, if the person is not interested in that thing, he will not perceive that thing in a better way. For Example: children watch television with the good interest and curiosity, so they perceive quickly whatever is shown in TV.

6.

Learning & Experience: People perceive many things differently according to their learning and experience of the past. If a person has wrong impression or bad past experience of something, he see the things negative and he perceive that thing in only negative way because it is his experience that forces him to perceive in this way.

Perceptual Organisation
People tend to organize the stimuli rather than perceiving it as a whole. Following ways: Figure and ground relationships: The figure represents what catches your attention as distinct and unique, while the ground indicates what you perceive as routine. Grouping helps individuals break up information and register it in their memory. That way, even use of multiple stimuli can work and create several associations. Closure is a need of consumers as well. They want to take the message to its logical conclusion if the stimulus does not give complete information.

Perceptual distortion can occur due to a variety of reasons: Physical appearance: The kind of people you are using in advertisements will distort perceptions, which has to be used to your benefit. Stereotypes: that develop can distort perception. First impressions: Of a product/service, get carried on for a long time. Jumping to conclusions: If you cannot present yourself differently, the prospect can jump to conclusions before you even make a presentation, e.g. tele calling. Halo effect: One or two dimensions of the stimuli will create broad perceptions on the product. Brand extension can be an example.

Introduction to Industry
Tourism is travel for recreational, leisure or business purposes. The word tour is derived from the Latin tornare and the Greek tornos, meaning a lathe or circle; the movement around a central point or axis. This meaning changed in modern English to represent one's turn. The suffix ism is defined as an action or process; typical behavior or quality, whereas the suffix ist denotes one that performs a given action. When the word tour and the suffixes ism and ist are combined, they suggest the action of movement around a circle. Like a circle, a tour represents a journey that is a round trip, i.e., the act of leaving and then returning to the original starting point. Thus, one who takes such a journey can be called a tourist. 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. Travel & Tourism activity was hit hard by the global slump, with Travel & Tourism Economy GDP contracting by 4.8% in 2009. This negative trend intensified as international tourist arrivals fell by 8% during the first four months of 2009, and the decline was exacerbated in some regions due to the outbreak of the influenza AH1N1 virus. Even so, the sector worldwide still provided over 235 million jobs last year. Travel & Tourisms recovery - like that of the world economy - is expected to be a gradual one. After growth of just 0.5% in 2010, Travel & Tourism Economy GDP is likely to grow by 3.2% in 2011, with momentum building from the second half of 2010 and into next year. World overview:

Gross Domestic Product (GDP): The contribution of Travel & Tourism to GDP is expected to
rise from 9.2% (US$5,751 bn) in 2010 to 9.6% (US$11,151 bn) by 2020.

Growth: Real GDP growth for the Travel & Tourism Economy is expected to be 0.5% in 2010, up
from -4.8% in 2009, but to average 4.4% per annum over the coming 10 years.

Employment: The contribution of the Travel & Tourism Economy to total employment is expected
to rise from 8.1%, 235,785,000 jobs or 1 in 12.3 jobs in 2010, to 9.2% of total employment, 303,019,000 jobs, or 1 in every 10.9 jobs by 2020.

Visitor Exports: Export earnings from international visitors are expected to generate
6.1% of total exports (US$1,086 bn) in 2010, growing (in nominal terms) to US$2,160 bn (5.2% of total) in 2020.

Investment: Travel & Tourism investment is estimated at US$1,241 bn, or 9.2% of total
investment, in 2010. By 2020, this should reach US$2,757 bn or 9.4% of total investment.

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. There are three forms of tourism:

Domestic tourism, involving residents of the given country traveling only within this country. Inbound tourism, involving non-residents traveling in the given country. Outbound tourism, involving residents traveling in another country.

The terms tourism and travel are sometimes used interchangeably. Travel has a similar definition to tourism, but implies a more purposeful journey. Tourism has emerged as one of world's largest industries and a fastest growing sector of the world economy; tourism receipts account for a little over 8% of world export of goods and more than 34% of world export of services.

Tourism has always been a major social phenomenon of any society. It is motivated by the natural urge of every human being for new experience, adventure, education, knowledge and entertainment. In order to understand each other's cultures and values as well as to cater several other social, religious and business interests, it has resulted in development of many tourist and infrastructure facilities. This, along with the progress of proper transportation network globally, especially of airways and waterways, has encouraged people to venture out to the foreign lands. It has facilitated the trade and commerce between the different regions of a country and between the different countries. As a result, over the years, it has acquired the status of a service industry.

Tourism, being one of the largest industries, plays a key role in achieving the socio-economic goals of the development plans of a nation. It is an important service-oriented sector which has made rapid strides globally in terms of gross revenue and foreign exchange earnings. It is a composite of service providers, both public and private, which includes travel agents and tour operators; air, rail and sea transportation operators; guides; owners of hotels, guest houses and inns, restaurants and shops; etc. They are involved in meeting the diverse interests and requirements of domestic and international tourists. The tourism industry provides incentives to foster the quality of environment, generates more employment opportunities (particularly in remote and backward areas) as well as develops necessary infrastructure facilities like roads, telecom and medical services, in the economy.

In India, tourism industry holds special position as has potential to grow at a high rate, but also stimulate other economic sectors through its backward and forward linkages and cross-sectional synergies with sectors like agriculture, horticulture, poultry, handicrafts, transport, construction, etc. That is, it can provide impetus to other industries in the country and generate enough wealth to help pay off the international debt. It is the third largest net earner of foreign exchange for the country. The travel and tourism sector contributes to the national integration; preserves natural and cultural environments; as well as enriches social and cultural lives of the people. It has the capacity to create

substantial job opportunities, particularly for unskilled and semi-skilled workers as well as to alleviate the poverty in the country. That is why; it has been regarded as the core sectors of the Indian economy.

Given India's unique endowments of biodiversity, forests, rivers, mountains, historical places, temples and pilgrims, caves, museums, monuments and culture, the industry holds immense strength for obtaining higher growth rate. The challenges in the sector lie in successfully preserving these in their original form, and making them accessible to domestic and international travellers. India offers various categories of tourism products, such as adventure tourism; medical tourism (ayurveda and other forms of Indian medications), eco-tourism; rural tourism; cruise tourism; meetings, incentives, conferences, and exhibitions (MICE) tourism; etc. In India, however, the sector has failed to receive due importance on the countrys development agenda. Employing only 2.4% of the Indian workforce, the vast potential of tourism as an instrument of employment generation and poverty alleviation has tended to remain largely unutilized. Of the 625 million world tourist arrivals in 1998, India received a meager 2.36 million or 0.38% of the total world tourist arrivals and only 0.62% of world tourist receipts. Compared to other countries in the region India's performance in the sector has been rather poor. Major causes cited for the low performance are lack of professionalism, unhygienic conditions, poor infrastructure, lack of easily accessible information, lack of safety, poor visitor experience, restrictive air transport policy, inadequate facilitation services, multiplicity of taxes and the low priority accorded to tourism. However, despite its tiny share of world tourist arrivals, tourism in India has emerged the second largest foreign exchange earner for the country even though the mainstay of the Tourism industry in India continues to be domestic tourism.

Most of the top visited countries continue to be on the European continent. In 2009, Malaysia made it into the top 10 most visited countries' list. Malaysia secured the ninth position, just below Turkey and Germany. Both Turkey and Germany climbed, occupying seventh and eighth positions respectively, while France continued to lead the ranks in terms of tourist arrivals.
Table 1

Rank 1 2 3 4 5 6 7 8 9 10

Country France USA Spain China Italy UK Turkey Germany Malaysia Mexico

ITA (2009) million 74.2 54.9 52.2 50.9 43.2 28.0 25.5 24.2 23.6 21.5

Role of Tourism Industry in Indias GDP

Role of Tourism Industry in Indias GDP has been quite alarming since the past few decades. Tourism industry has contributed enormously in the flourishing graph of India's economy by attracting a huge number of both foreign and domestic tourists traveling for professional as well as holiday purpose. The tourism industry in India witnessed a stupendous growth in 2006. The growth in the inflows in India's tourism industry is calculated both in terms of business and vacations. The number of foreign tourists arriving from all over the world rose from 0.37 % to 0.53 % as has been stated by UN World Tourism Organization (UNWTO) in the year 2006.

This remarkable growth in the tourism industry in India popularized the entire South Asia as one of the most spectacular tourist terminal. Indian tourism industry contributes to around 5.9 % of the country's GDP and it provides employment to around 41.8 million of inhabitants. Estimated growth of Travel & Tourism in India:

Gross Domestic Product (GDP): The contribution of Travel & Tourism to Gross Domestic
Product is expected to rise from 8.6% (INR5,532.5bn or US$117.9bn) in 2010 to 9.0% (INR18,543.8bn or US$330.1bn) by 2020.

Employment: The contribution of the Travel & Tourism economy to employment is expected to
rise from 49,086,000 jobs in 2010, 10.0% of total employment or 1 in every 10.0 jobs to 58,141,000 jobs, 10.4% of total employment or 1 in every 9.6 jobs by 2020.

Growth: Real GDP growth for Travel & Tourism economy is expected to be 6.7% in 2010 and to
average 8.5% per annum over the coming 10 years.

Visitor Exports: Export earnings from international visitors and tourism goods are expected to
generate 3.8% of total exports (INR519.7bn or US$11.1bn) in 2010, growing (nominal terms) to INR1,886.2bn or US$33.6bn (2.4% of total) in 2020.

Investment: Travel & Tourism investment is estimated at INR1,628.1bn, US$34.7bn or 7.2% of

total investment in 2010. By 2020, this should reach INR6,137.2bn, US$109.3bn or 7.7% of total investment.

Some of the most significant features of India's tourism industry or the Role of Tourism Industry in India GDP have been listed below:

The percentage of foreign tourists in India has increased by 12.4 % in one year, that is, from 2006 to 2007. In 2006, Indian tourist industry witnessed a growth of 14.3 %, which reached around 3.89 million in 2007. The foreign tourists arrival led to a robust growth in the foreign exchange earnings that increased from USD 5.03 billion during January-October 2006 to USD 6.32 billion during January-October 2007, which is apparently a 25.6 % rise. Deeming the growing rate of the tourists arrival in the country, the Indian tourism industry designed a wide spectrum of holiday packages and cheaper airfares to attract more tourists. The outgoing graph of tourism industry in India is in no way lagging behind from the inbound one. People traveling from India to abroad or states within India have increased by 25 %. The United Nations World Tourism Organization (UNWTO) has estimated the outgoing tourists to reach around 50 million by the year 2020. According to the European Travel Commission, the average expenditure per trip of Indian tourists traveling abroad has increased from USD 611 in 2000 to USD 822 in 2006. The booming success of Indian tourism industry has led to a drastic change in the hospitality department as well. The increase in the ratio of tourists resulted in the increase of room rates and also setting up of a wide range of hotels and other residing areas. A number of international hotels such as the Hilton, Accor, Marriott International, Berggruen Hotels, Cabana Hotels, Premier Travel Inn (PTI) and Inter Continental Hotels groups have professed about making some large-scale investments to append 65,000 additional rooms to suffice the needs. India is most likely to set up forty hotels of global brands by 2011. The hospitality segment in India is assumed to reach USD 11.41 billion in the coming two years.

Following are the few benefits ensured by the tourism industry in India GDP in order to boost up the GDP of India:

The Indian tourism industry offers online booking system, one of the basic proofs of technological advancement in this sector. These online bookings are applicable for booking the air tickets via Internet by logging on to the website and booking the hotel room of the place to be visited. The online tourism industry has accounted for a turnover of USD 800 million which is apparently 14 percent of the entire travel and tourism industry. The Role of Tourism Industry in India GDP also features medical tourism that includes traditional therapies like yoga, meditation, ayurveda, allopathy and other conventional systems of medicines is currently estimated at USD 333 million and is most likely to reach USD 2.2 billion by the year 2012.

FTA in India:

FTAs in India during the Month of July 2010 were 4.52 lakh as compared to FTAs of 4.35 lakh during the month of July 2009 and 4.32 lakh in July 2008. There has been a growth of 4.1 % in July 2010 over July 2009 as compared to a growth of 0.6 % registered in July 2009 over July 2008. The growth of 4.1 % in July 2010 is lower than the growth of 8.0 % in June 2010. But the number of FTAs in July, 2010 increased to 4.52 lakh from 3.70 lakh in June, 2010. FTAs during the period January-July 2010 were 30.85 lakh with a growth rate of 9.8 %, as compared to the FTAs of 28.10 lakh and a negative growth rate of 7.6 % during January-July 2009 over the corresponding period of 2008.

FEE from Tourism in Indian Rupee terms and US $ terms

FEE from tourism during the month of July 2010 were Rs.5444 crore as compared to Rs.4983 crore in July 2009 and Rs.3870 crore in July 2008. The growth rate in FEE in Rupee terms in July 2010 over July 2009 was 9.3 % as compared to growth rate of 28.8 % in July 2009 over July 2008. FEE during the period January-July 2010 were Rs.36817 crore with a growth rate of 24.1 %, as compared to FEE of Rs.29676 crore with a negative growth of 0.1 % during January -July 2009 over the corresponding period of 2008. FEE in US$ terms during the month of July 2010 were US$ 1163 million as compared to FEE of US$ 1028 million during the month of July 2009 and US$ 904 million in July 2008. The growth rate in FEE in US$ terms in July 2010 over July 2009 was 13.1 %. FEE during the period January-July 2010 were US$ 8005 million with a growth rate of 32.6 % as compared to FEE of US$ 6035 million with a negative growth of 17.2 % during January July 2009 over the corresponding period of 2008.

Types of Tourism in India

All types of tourism in India have registered phenomenal growth in the last decade ever since the Indian government decided to boost revenues from the tourism sector by projecting India as the ultimate tourist spot. The reason why India has been doing well in all types of tourism in India is that India has always been known for its hospitality, uniqueness, and charm attributes that have been attracting foreign travelers to India in hordes. The Indian government, in order to boost tourism of various kinds in India, has set up the Ministry of Tourism and Culture. This ministry recently launched a campaign called Incredible India! in order to encourage different types of tourism in India. The result was that in 2004, foreign tourists spent around US$ 15.4 billion during their trips to

India. Being a country with tremendous diversity, India has a lot to offer in terms of tourism and related activities. The diversity that India is famous for ensures that there is something to do for all tourists in India, no matter what their interests.

Adventure tourism: As a kind of tourism in India, adventure tourism has recently grown in India.
This involves exploration of remote areas and exotic locales and engaging in various activities. For adventure tourism in India, tourists prefer to go for trekking to places like Ladakh, Sikkim, and Himalaya. Himachal Pradesh and Jammu and Kashmir are popular for the skiing facilities they offer. Whitewater rafting is also catching on in India and tourists flock to places such as Uttaranchal, Assam, and Arunachal Pradesh for this adrenalin-packed activity.

Wildlife tourism: India has a rich forest cover, which has some beautiful and exotic species of
wildlife some of which that are even endangered and very rare. This has boosted wildlife tourism in India. The places where a foreign tourist can go for wildlife tourism in India are the Sariska Wildlife Sanctuary, Keoladeo Ghana National Park, and Corbett National Park.

Medical tourism: Tourists from all over the world have been thronging India to avail themselves of
cost-effective but superior quality healthcare in terms of surgical procedures and general medical attention. There are several medical institutes in the country that cater to foreign patients and impart top-quality healthcare at a fraction of what it would have cost in developed nations such as USA and UK. It is expected that medical tourism in India will hold a value around US$ 2 billion by 2012. The city of Chennai attracts around 45% of medical tourists from foreign countries.

Pilgrimage tourism: India is famous for its temples and that is the reason that among the different
kinds of tourism in India, pilgrimage tourism is increasing most rapidly. The various places for tourists to visit in India for pilgrimage are Vaishno Devi, Golden temple, Char Dham, and Mathura Vrindavan.

Eco tourism: Among the types of tourism in India, ecotourism have grown recently. Ecotourism
entails the sustainable preservation of a naturally endowed area or region. This is becoming more and more significant for the ecological development of all regions that have tourist value. For ecotourism in India, tourists can go to places such as Kaziranga National Park, Gir National Park, and Kanha National Park.

Cultural tourism: India is known for its rich cultural heritage and an element of mysticism, which
is why tourists come to India to experience it for themselves. The various fairs and festivals that tourists can visit in India are the Pushkar fair, Taj Mahotsav, and Suraj Kund mela.

Educational tourism: Educational tourism developed, because of the growing popularity of

teaching and learning of knowledge and the enhancing of technical competency outside of the classroom environment. In educational tourism, the main focus of the tour or leisure activity includes visiting another country to learn about the culture, such as in Student Exchange Programs and Study Tours, or to work and apply skills learned inside the classroom in a different environment, such as in the International Practicum Training Program.

Rural tourism: Any form of tourism that highlights the rural life, art, culture and heritage at rural
locations, thereby benefiting the local community economically and socially as well as enabling interaction between the tourists and the locals for a more enriching tourism experience can be termed as rural tourism. Rural tourism is essentially an activity which takes place in the countryside. It is multi-faceted and may entail farm/agricultural tourism, cultural tourism, nature tourism, adventure tourism, and eco-tourism. As against conventional tourism, rural tourism has certain typical characteristics like; it is experience oriented, the locations are sparsely populated, it is predominantly in natural environment, it meshes with seasonality and local events and is based on preservation of culture, heritage and traditions.

Sports tourism: Sport tourism denotes tourism which is based on the theme of sports, to participate
in sports activity, to watch a sports event, to take part in an organised sports event, to travel for business of sports, to attend sports related meetings and conferences, to visit sports museums, stadia, venues. Many national and international sports events are held in India every year. Sportsmen and sportswomen come from all parts of the world to participate in international championships and tournaments like Cricket World Cup. One of the most important upcoming sports an event coming up in India is the Commonwealth Games scheduled to hold in New Delhi in 2010.

The types of tourism in India have grown and this has boosted the Indian economy. That it continues to grow efforts must be taken by the Indian government, so that the tourism sector can contribute more substantially to the nations GDP.

Adventure Tourism in India

Adventure tourism in India has increased in recent years due to the efforts taken by the Indian government and the Ministry of Tourism. The scope for adventure tourism in India is endless because the country has a rich diversity in terms of climate and topography. Various kinds of adventure on water, land, and air can be enjoyed in India. The ministry of tourism and culture has, in recent years, launched a campaign called Incredible India! and this has given a tremendous boost to adventure tourism in India.

The various kinds of adventure tourism in India are:

Rock climbing Skiing Camel safari Para gliding

Mountaineering Rafting in white water Trekking

As a kind of adventure tourism in India, rock climbing is relatively new. Due to the presence of climbing rocks in large numbers throughout the country, rock climbing as a kind of adventure tourism in India is taking off in a big way. The various places in India where tourists can go for rock climbing are Badami, Kanheri Caves, Manori Rocks, and Kabbal. Skiing in India as a kind of adventure tourism has become popular in the last decade. The country has a large number of hill stations which have excellent skiing facilities. This has given rise to skiing adventure tourism in India. The places in India where tourists can go for skiing are Manali, Shimla, Nainital, and Mussoorie. Whitewater rafting in India is a relative newcomer in the domain of adventure tourism in India. This has been increasing due to the presence of a number of rivers, waterfalls, and rapids. The places where a tourist can go for whitewater rafting in India are Ganga, Alaknanda, and Bhagirathi rivers. Trekking as a part of adventure tourism India has grown recently. Many tourists are coming to India in order to go trekking in the various rugged mountains present in India. Camel safari in India has also become very popular due to the initiatives taken by the tourist boards of some Indian states. The most famous destinations in India for camel safaris are Bikaner, Jodhpur, and Jaisalmer. Paragliding in India has developed recently and paragliding facilities are available in a lot of places in India. Mountaineering in India is also quite popular in the arena of adventure tourism. Tourists can go to Garhwal, Himachal Pradesh, and Jammu and Kashmir for indulging in mountaineering.

Cultural Tourism in India

Cultural tourism in India is the predominant factor behind Indias meteoric rise in the tourism segment in recent years, because from time immemorial, India has been considered the land of ancient history, heritage, and culture. The government of India has set up the Ministry of Tourism and Culture to boost cultural tourism in India. The ministry in recent years has launched the Incredible India! campaign and this has led to the growth of culture tourism in India. India has had many rulers over the centuries and all of them made an impact on India's culture. One can see the influence of various cultures in dance, music, festivities, architecture, traditional customs, food, and languages. It is due to the influence of all these various cultures that the heritage and culture of India is exhaustive and vibrant. This richness in culture goes a long way in projecting India as the ultimate cultural tourism destination given boost to tourism in culture in India.

The most popular states in India for cultural tourism are:

Rajasthan Tamil Nadu

Uttar Pradesh Uttaranchal

Among the various states for cultural tourism in India, Rajasthan is the most popular. The reason for this is that Rajasthan is famous for its rich cultural heritage. The state is renowned for many magnificent palaces and forts which showcase the rich cultural heritage of Rajasthan. The various folk songs and music also reflect the cultural heritage of Rajasthan. A large number of festivals and fairs are held in Rajasthan such as the camel festival, Marwar festival, and Pushkar festival. All these attract many tourists to Rajasthan for they get to see the rich culture of the state. Tamil Nadu is also famous for cultural tourism in India, for it shows the Dravidian tradition and culture. It has many temples which mirror the rich cultural heritage of India. Uttar Pradesh has a lot of tourist places which also testify to the rich culture of the country. The most famous monument is the Taj Mahal in

Agra. Cities like Varanasi, Allahabad, Vrindavan, and Ayodhya in Uttar Pradesh also attract a large number of tourists for they encapsulate beautiful vignettes of India. Uttaranchal is also famous for cultural tourism India. This state has the Himalaya Mountains which are called the abode of the Gods. Many ancient temples are found in the Kumaon and Garhwal regions of the state.

Ecotourism in India
Ecotourism in India has developed recently, for the concept itself is a relatively new one. Ecotourism entails traveling to places that are renowned for their natural beauty and social culture, while making sure not to damage the ecological balance. Ecotourism pertains to a conscious and responsible effort to preserve the diversity of a naturally endowed region and sustaining its beauty and local culture. Indians have been known since ages to worship and conserve nature. So the growth of ecotourism in India is but natural. Also, the government of India has set up the Ministry of Tourism and Culture to promote ecotourism in India alongside other types of tourism. Ecotourism in India has grown significantly in recent years in India since the country has a diverse geography which led to the development of many tourists destinations. These various destinations not only de-stress the tourists but also rejuvenate them. There are various ways in which tourists can enjoy nature in India. And this has given ecotourism in India a major boost. Places such as Kerala, Lakshdweep Islands, the Himalayan region, north-east India, and Andaman and Nicobar Islands are some destinations in India where tourists can participate in ecotourism-related activities. In Kerala, Thenmala is a planned ecotourism spot and is the first of its kind in India. Great care has gone into the care and preservation of Thenmala so that it caters to nature lovers and eco- tourists. Eco-tourists have been thronging India in large numbers for it has a rich source of flora and fauna. A great number of endangered and rare species are also to be found in the various national parks in India.

The major national parks in India for ecotourism are:

Corbett National Park in Uttar Pradesh Bandhavgarh National Park in Madhya Pradesh

Kanha National Park in Madhya Pradesh Gir National Park and Sanctuary in Gujarat Ranthambore National Park in Rajasthan

Heritage Tourism in India

Heritage tourism in India has registered an immense growth in the last few years, ever since additional initiatives were taken by the government of India to boost Indias image as a destination for heritage tourism. India has always been famous for its rich heritage and ancient culture. So the onset of heritage tourism in India was long anticipated. Indias glorious past and cultural diversity make a potent blend which attracts millions of tourists each year to its heritage tourist attractions. The government of India and the Ministry of Tourism and Culture encourage heritage tourism in India by offering several benefits to the Indian states that are particularly famous for attracting tourists. India's rich heritage is amply reflected in the various temples, palaces, monuments, and forts that can be found everywhere in the country. This has led to the increase in India's heritage tourism.

The most popular heritage tourism destinations in India are:

Taj Mahal in Agra Mandawa castle in Rajasthan Mahabalipuram in Tamil Nadu

Madurai in Tamil Nadu Lucknow in Uttar Pradesh Delhi, the Indian capital

The maximum number of tourists who come to India visit the Taj Mahal for it is one of the 7 wonders of the world. It is made of marble which has intricate inlay work done in an exquisite and meticulous style. The Mandawa castle in Rajasthan, built in 1775 reflects India's rich heritage and

attracts thousands of tourists each year to Rajasthan which seems especially popular for its antique paintings, jade jewelry, palaces, and costumes. Mahabalipuram has sculptural and architectural sites which are considered the greatest in India. Mahabalipuram has cave temples that have been carved from granite blocks and belong to the 7th century. This is the primary reason why many heritage tourists in India visit this place. The tourism of heritage in India has also increased due to the interest of many foreigners in the temples of India. Madurai is known as the temple city due to the presence of a large number of temples in the city. And for this reason, many tourists go and visit the place each year. The most important temple in Madurai is the Meenakshi temple. Heritage tourism India has also been popularized because a lot of tourists go to Delhi which is not only the capital of India but also has many heritage sites. The most famous heritage sites in Delhi are the Red fort, Jama Masjid, Humayun's tomb, and Tughlaqabad fort. Heritage tourism India has grown in recent years but there is scope for further development which can be attained only through combined efforts of the government of India and the tourism boards.

Introduction to Organization
International Travel House is an associate company of ITC Limited, one of Indias foremost Private Sector companies rated amongst the worlds leading companies by Forbes magazine. ITC is a leading player in Tobacco products, Hospitality, Golf Resorts, Packaging & Printing, Paper & Paperboard, Leisure Apparels and Gourmet Processed Food, and also a leader in Agri-business and IT industries.

International Travel House commenced its operations in 1981, and offers a full bouquet of travel services. Over the years, it has grown to be one of the largest Complete Travel Management companies in India, with each of its products and services bearing the distinct ISO 9001 quality benchmarking. With a team of dedicated professionals, a nationwide network, and state of the art technology, International Travel House is well equipped to address all possible travel needs of both Business and Leisure Travellers. The Travel House network consists of 10 IATA Travel Offices, 13 Car Rental Offices and 19 Travel Counters.

Vision Statement
To be the Preferred Integrated Travel & Tourism Service Provider.

Mission Statement
To be a respected and trusted player in the travel & tourism segment. To achieve long term sustainable growth and development by building values, adopting best business practices and enhancement of stakeholders wealth.

Philosophy
ITHL is a professionally managed organisation and the core value underlying our corporate philosophy is trusteeship. It believes the various stakeholders in trust have handed to organisation and the professional managers are the trustees of these stakeholders. It is therefore its responsibility to ensure that the organisation is managed in a manner that protects and furthers the interests of its stakeholders. It recognizes society as an important stakeholder in this enterprise and therefore it is part of our responsibility to practice good corporate citizenship. It has the belief that in order to serve the interests of stakeholders in perpetuity, it must build ITHL into an institution whose dynamism and vitality are anchored in its core values.

Board of Directors
Composition: comprising of Executive and Non-Executive Directors, the latter including independent professionals. Directors are appointed / re-appointed with the approval of the Shareholders and all are liable to retire by rotation. The present strength of the Board of Directors of the Company is eight, of which one is an Executive Director. Composition of the Board of Directors as on 31st March, 2010
Table 2

Category Executive Director Non-Executive Independent Directors Other Non-Executive Directors Total

No. of Directors Percentage to total no. of Directors 1 4 3 8 12 50 38 100

The Board of Directors has constituted three Committees of the Board the Audit Committee, the Investor Services Committee and the Nominations & Remuneration Committee. The Board determines the terms of reference of the Board Committees from time to time.

Non-Executive Director
Nakul Anand has been a Non-Executive Director of the Company since 6 January 1998 and was appointed the Chairman of the Company effective 21 March 2009. He is currently the Divisional Chief Executive of the Hotels Division of ITC Limited. Anand is an AMP degree holder from Bond University, Australia and an Economics Honours graduate from Delhi University. He joined ITC Limited in its Hotels Division as a management trainee in 1978. Since then he has held various positions in ITC- Welcomgroup's prestigious hotels including that of General Manager of the flagship hotel, ITC Maurya. He has rich experience of over 32 years with the Hotel and Tourism Industry. Anand is widely recognised for excellent man-management and team building abilities and for infusing the spirit of action and result oriented work culture. He has won a number of awards for excellence including General Manager of the Year among General Managers worldwide and the Green Hotelier, to name a few.

Managing Director
Jehangir Jal Ghadiali was appointed as the Managing Director of the Company effective 17th February, 2008. He holds a Diploma in Hotel Management, Applied Nutrition & Catering Technology from IHMCTAN, Mumbai. He has rich experience of over 30 years with the Hotel and Tourism Industry. He joined ITC Limited in its Hotel Division as a management trainee in the year 1979 and since then worked in various positions and functions in ITC-Welcomgroup hotels. Just prior to joining Travel House, he was the General Manager of the ITC Hotel Park Sheraton & Towers, Chennai. He is a professional member of the Institute of Marketing and Management.

ITHL Code of Conduct

Code is derived from three interlinked fundamental principles, viz. good corporate governance, good corporate citizenship and exemplary personal conduct.

Corporate Governance Policy

The Corporate Governance Policy is the apex level instrument guiding conduct of the affairs of the Company and clearly delineates the roles, responsibilities and authorities of the key entities in the governance structure of the Company. This Code forms an integral part of the Company's Governance Policy. The directors, senior management and employees must adhere to the Corporate Governance Policy of the Company. The Companys philosophy on Corporate Governance envisages attainment of a high level of transparency and accountability in the functioning of the Company and conduct of business, and places due emphasis on regulatory compliance. It has empowered the Executive Management to take decisions with regard to day to day operations and has also created checks and balances that such decisions are taken with care and responsibility to meet Shareholders aspirations and societal expectations. The Companys Corporate Philosophy is focused on its people who are its most important asset and it values its employees integrity, creativity, ability, judgment and opinions, who in turn demonstrate the highest ethical standards and responsibility towards the shareholders. This has helped the Company take rapid strides in its pursuit of excellence. The Company is committed to enhance shareholder value in a fair and transparent manner and has been in the forefront for benchmarking itself with the best business practices globally.

The Governance Structure

The practice of Corporate Governance in the Company is at three interlinked levels : Strategic supervision by the Board of Directors;

i.

ii. Strategic management by the Corporate Management Committee; and iii. Executive management by the Functional Heads under the overall guidance and direction of the Managing Director.

This three-tier structure enables the Board of Directors to carry out the task of strategic supervision as trustees of Shareholders, unencumbered by the task of strategic management, in a manner that imparts objectivity and secures sharpened accountability from the management.

Good Corporate Citizenship

In the conduct of the Company's business, the practice of good corporate citizenship is a prerequisite and embraces the following:

Dealing with People in the Organisation

In dealing with each other, directors, senior management and employees shall uphold the values which are at the core of our HR Philosophy - trust, teamwork, mutuality and collaboration, meritocracy, objectivity, self respect and human dignity. Indeed, these values form the basis of our HR management systems and processes. In selection and recruitment while meritocracy will be a prime criterion managers will scrupulously consider all factors that go towards securing the interests of the Company. Travel House will focus on meritocracy, equity and upholding of Company values in all people processes including performance management systems appraisals, remuneration and rewards.

Relationships with Suppliers and Customers

All directors , senior management and employees shall ensure that in their dealings with suppliers and customers, the Companys interests are never compromised. Accepting gifts and presents of more than a nominal value, gratuity payments and other payments from suppliers or customers will be viewed as a serious breach of discipline as this could lead to compromising the Companys interests.

Legal Compliance

It is the Company's policy to comply fully with all applicable laws and regulations. Ensuring legal and regulatory compliance is the responsibility of the Managing Director, the Executive Vice President ( Operation) and the Chief Financial Officer. The Company cannot accept practices which are unlawful or may be damaging to its reputation. The Executive Vice President ( Operation) and the Chief Financial Officer must satisfy themselves that sound and adequate arrangements exist to ensure that they comply with the legal and regulatory requirements impacting each business and identify and respond to developments in the regulatory environment in which they operate. In the event the implication of any law is not clear, the course of action must be supported by eminent legal counsel whose opinion should be documented.

Health and Safety

The Company attaches great importance to a healthy and safe work environment. Travel House is committed to provide good physical working conditions and encourages, high standards of hygiene and housekeeping. Particular attention should be paid to training of employees to increase safety awareness and adoption of safe working methods, particularly designed to prevent serious or fatal accidents.

Environment Policies

The Company believes that commitment to sustainable development is a key component of responsible corporate citizenship and therefore deserves to be accorded the highest priority. Accordingly, the Company is committed to Best Practices in environmental matters arising out of its business activities and expects each business to fully demonstrate this commitment. In addition to complying with applicable laws and regulations, Businesses must establish procedures for assessing the environmental effects of their present and future activities. They should adopt Best Practices in their environmental policies and procedures.

Personal Conduct
All directors, senior management and employees have the obligation to conduct themselves in an honest and ethical manner and act in the best interest of the Company at all times. They are expected to demonstrate exemplary personal conduct through adherence to the following:

Avoidance of Conflict of Interest

All directors, senior management and employees must avoid situations in which their personal interest could conflict with the interest of the Company. This is an area in which it is impossible to provide comprehensive guidance but the guiding principle is that any conflict or potential conflict must be disclosed to higher management for guidance and appropriate action.

Transparency and Auditability

All directors, senior management and employees shall ensure that their actions in the conduct of business are totally transparent except where the needs of business security dictate otherwise. Such transparency shall be brought about through appropriate policies, systems and processes, including as appropriate, segregation of duties. Tiered approval mechanism and involvement of more than one

manager in key decisions and maintaining supporting records. All managers shall voluntarily ensure that their areas of operation are open to audit and the conduct of their activities is totally auditable.

Protection of Confidential Information

No directors, senior management and employee shall disclose or use any confidential information gained in the course of employment/ association with the Company for personal profit or for the advantage of any other person. No employee shall provide any information either formally or informally to the press or to any other publicity media unless specifically authorized to do so.

Company Facilities

No directors, senior management and employee shall misuse Company facilities. In the use of Company facilities, employee shall exercise care to ensure that costs are reasonable and there is no wastage.

Leading by Example The organizations directors and senior management set the professional tone for the Company. Through both their words and their actions, the organizations leadership conveys what is acceptable and unacceptable behaviour. ITHL's directors, senior management and employees must constantly reinforce through their actions and behaviour that ITHL's stated beliefs of responsible corporate citizenship are rooted in individual conviction and personal integrity.

Waivers

Any waiver of any provision of this Code of Conduct for a director, senior management or employee must be placed for approval before the Company's Board of Directors/ Corporate Management Committee, as appropriate.

Non Adherence

Any instance of non-adherence to the Code of Conduct / any other observed unethical behaviour on the part of those covered under this Code should be brought to the attention of the immediate reporting authority, who shall in turn report the same to the Head of Corporate Human Resources.

History / Time Line

1981 - The Company was incorporated on 29 June 1981. The Company was Registered under the name and style of International Travel House Limited, under the Companies Act, 1956, Registered office at 21-D, Community Centre, Basant Lok, Vasant Vihar, New Delhi. The Company is engaged in Travel and Tourism activities.

1992 - The Company has modernised its system of operations and diversified its activities. The Company has signed a Memorandum of Understanding for acquiring 100% equity of Vins Overseas India Pvt. Ltd a Company incorporated in India, promoted by NRIs - holding Franchise agreement with Europcar Inter Rent, France and engaged in the business of Rent-a-Car business. Vins Overseas India Pvt. Ltd. will become a subsidiary of the Company.

1994 - During the year your Company acquired 1000 Equity Shares of Rs. 100/- each of International Travel House Explorations Limited at a consideration of Rs. 1,00,00/-. The Company also acquired 1000 Equity Shares of Rs. 1000/- each of Classic Travels Limited at a consideration of Rs. 1,00,000/-. With this acquisition, both these companies have become wholly owned subsidiaries of your Company w.e.f. 30 July 1993.

The Company also acquired 525000 Equity Shares of Rs. 10/- each of Landbase India Limited at a consideration of Rs. 52.50 Lacs, which represents 70% of Equity Share Capital of Landbase India Limited. With this acquisition this Company has become a subsidiary of your Company w.e.f. 1st March 1994. The company has also become a member of the coveted international congress and convention Association (ICCA), by virtue of which, it is now recognised as part of an international network of experts in the conference business.

The Company has also entered into an agreement with Union Transport Network Inc., one of the world's leading freight conglomerates, to gain competitive advantage for its freight business and to generate import consolidation business through UT offices worldwide.

The Company is also the first travel company in India to have signed up with Galileo, one of the most technically advanced computer reservation systems, for online access to their global reservation system for the Company's travel branches.

The Company made a Rights Issue of 40,00,000 No. of Equity Shares in the ratio of 1:1 to its Equity Shareholders at a premium of Rs. 25 per share. The Company allotted 39,79,700 No. of Equity Shares on 23rd September, 1994, with the balance 20,300 shares being kept in abeyance owing to cases of dispute regarding entitlement.

1995 - On 21st March, a further 5,500 No. of Equity Shares has been allotted. The remaining 14,800 No. of Equity Shares will be allotted as and when the disputes are resolved. The Company has also tied up with Union Transport, a reputed global freight company, to take advantage of the opportunities being unfolded in the freight business consequent to the liberalisation measures under way in India.

1996 - During the year, the Company has allotted 6,900 No. of Equity Shares on 1st September, 1995 and 900 No. of Equity Shares on 20th March, 1996 out of the Rights Shares kept under

abeyance during last year's rights issue. The remaining 7,000 No. of Equity Shares will be allotted as and when the disputes are resolved.

1998 - International Travel House (ITH) is a part of ITC, one of the largest conglomerates in India. ITH offers travel related services like airline ticketing, travel management, foreign exchange dealings like money changing, issue of traveller's cheque, and freight management.

ITH has alliances with Rosenbluth International of USA for travel management and assistance, with United Transport of USA for freight management and with Citibank of USA for travellers cheques. International Travel House Limited on 8th July, joined hands with ABN Amro Lease Holding N.V. to form a joint venture company with core competency in the area of financial leasing of cars.

1999 - The company, renamed Lease Plan India Ltd, is no longer a subsidiary of ITH. Vins Overseas is a 100 per cent subsidiary of ITH. The company has prepared a multi-skilling module that allows complete exposure of its employees to all services by way of `products', the `standard operating procedures' and market information.

ITH is the only integrated travel management company in the country. The company already has a leadership position in the car rental segment, through its wholly owned segment Vins Overseas India Ltd, the master franchisee of one of the world's car rental services Europcar.

2000 - The Company divested its equity holding of Rs 2.80 crores shares of Rs 10/- each representing 70% holding in Landbase India Ltd. to ITC Ltd. at a price of Rs 34/- per share, the total consideration being Rs 9.52 crores. Landbase India Ltd. would no longer be a subsidiary of the company.

The Company, a subsidiary of ITC Ltd and a leading travel management company, is restructuring its businesses to increase focus on information technology and travel management services for individual travellers.

Why International Travel House Ltd.:

Over 28 years of experience in Complete Travel Management Solutions. One-Stop-Shop for all travel requirements. India's only multi-location Travel Management Company with ISO 9001 accreditation. Membership of IATA, ASTA, JATA, PATA, USTOA, ICCA, UFTAA, WTO, TAAI, ICPB, IATO, and approved by Govt. Of India, Dept. of Tourism. 10 IATA locations, 13 Car Rental Offices, 19 Travel Counters. An Associate Company of ITC one of India's largest business conglomerates. Servicing Business Travel needs of Indian and Multi-National business houses with implants in 160 companies. Provide services on 30 days credit period to Corporates which are in an agreement. Our clients include inter-alia NDTV, Infosys, HCL, Citibank, Samsung, Max Hospitals, FICCI, Essel Group. Own Transport Fleet of 900 cars and over 700 trained travel professionals. All offices are on WAN network, contacted from anywhere. Transparent and high quality corporate governance. Provide 24x7 services for 365 days. Backup of bills and receipts kept for 5 years. Customizable billing provided with detailed information according to corporate requirements.

Services Offered
Business Travel - Travel House sees itself in the role of a Travel Consultant and not just a Travel
Agent. It study travel patterns, understand customers requirements and ensure the best possible services, day or night, to them through their Anytime Travel Counters manned 24 hours a day, 365 days a year. These services packaged in the One-Stop-Shop concept, provide clients with a single point of contact for all travel related needs.

Car Rentals - Travel House is one of Indias largest branded Car Rental companies with 13 Car
Rental Offices in the major Indian cities and a fleet of 900 cars in six distinct segments: Club, Club Plus, Royal, Royal Plus, Premium and Premium Plus. The Car Rentals are based on Chauffeur Driven and Self-Driven cars. Other services include Transfers, Sightseeing Tours, International Bookings, Motoring Holidays and Travel House Express. Travel House cars are fully loaded with accessories to ensure customers comfort, safety and security. Pre-rental fitness checks, daily inspections, and servicing in keeping with the manufacturers norms are enforced strictly to ensure excellent car condition. Chauffeurs undergo specially designed training programmes to offer clients a smooth and safe ride.

Destination Management - Include Destination Guides, Programme Design and Execution,

Logistics Management, Supplier Management, and Single-point Accounting & Payment. A specialised team provides excellent services in various elements like Welcome Services, Transfers Management, Transport Services using our own fleet of modern vehicles, Negotiated rates for accommodation options, Support on range of Venues, Special Events Implementation, Creative Ideas for all Activities, Multilingual Guides and Tour Escorts, Special Interest Tours & Excursions, Varied Dining Experiences and Entertainment Options.

World Class Holidays - World Class Holidays span the entire globe from Asia, Australia Pacific,
Europe, Middle East and the Mediterranean to Africa, and North and South America.

Discover India Holidays - A trip to India is an unforgettable experience. You can immerse
yourself in Indias rich and varied colours and culture and emerge enriched. While much has been said and written about India, a personal visit still remains an experience that will last a lifetime. Its ancient cultures, deep-rooted traditions, absorbing history, natural beauty, wondrous architecture, awe-inspiring palaces and forts, add incredibly new dimensions to the joys of travelling and holidaying. Tours are conceived with imagination, designed with great attention to detail, and operated by professionals with a passion for perfection. For travellers to India, it offers Incredible India tours such as the: Golden Triangle Tours, Cultural and Heritage Tours, Rejuvenation and Religious Tours, Wildlife and Adventure Tours, and India Luxury Holidays.

India Holidays - Domestic holidays are packaged in interesting themes like Hill Stations, Beach
Holidays, Ayurveda and Spa Holidays, Wildlife Holidays, Pilgrimage Holidays, Holidays in Kerala, Goa and Rajasthan etc.

Cruise Holidays - Offers worldwide options covering various aspects like culture, adventure and
history of some of the most exotic cities in the world Rome, Florence, Venice, Miami, Singapore, Sydney, Melbourne, etc. The floating luxury vessels have been carefully selected to provide our clients with the best experiences in onboard and offshore activities. The cruises offered cover the best of the seas including Indian Ocean, Arctic, Antarctic, Pacific, Atlantic, the Caribbean, and the Mediterranean.

Royal Weddings - A Wedding Management Service, specially designed to turn dreams into reality
and that promises to recreate the grandeur of Indias opulent past with elephant processions, royal palanquins, horse-drawn carriages, folk performances, trumpet fanfares, palaces as venues, and more all arranged on request.

MICE - The Conference Management Services cell handles Meetings, Incentives, Conferences,
Exhibitions and Events domestic or international, large or small, beginning with pre-bid assistance, Programme Design and Execution, Logistics & Transport Management, Supplier Management, Venue Selection and Booking, Communication Channels Management, Press and Media Coverage, Event Promotion and Marketing, Conference Secretariat, Hotel Arrangements, Social and Entertainment Planning, Pre and Post Event Tours, and Accompanying Spouse Programmes.

Visa Services - Getting a Visa for any particular country is usually a very strenuous process.
Keeping this in mind, International Travel House Limited, offer specialized services to help in obtaining visas without any hassle and pain. Its Visa Team has very good rapport with the concerned embassies / consulates and can definitely ease this process.

Overseas Travel Insurance Cover - Travel for business or pleasure involves risk. There are other
difficult situations also, that one might face, like loss of passport or baggage. Bajaj Allianzs Travel Companion is specially designed to help you deal with such situations while travelling overseas.

Money Changer - The Forex Changers division with its branches in New Delhi, Mumbai, Calcutta,
Bangalore, Pune, Chennai and Hyderabad provides full-fledged money changing facilities, and personalized currencies. Strategic ties exist with AMEX Travellers Cheques Group and Citicorp Travel Payment Products for Citibank World Money Card.

Business Operations
The financial year 2008-09 has been a very difficult one for the company. As against over 9 per cent growth of GDP last year, this years estimates are a growth of 6.1 per cent, a considerable drop from the previous year. The financial year commenced with soaring fuel prices resulting in escalated air fares and a consequent drop in demand for air travel. While petroleum prices dropped marginally by the middle of the year, there was a lag in passing on the price reduction to the airlines and a further time lag before airlines reduced their fuel surcharge. By this time, the global financial recession, termed by economists as a melt-down, had begun taking its toll and the corporate sector drastically cut its expenditure on travel. The last quarter of the financial year 2008-09 was marked by a slowdown in business unlike anything seen for a very long time. While some industries, particularly the Housing & Real Estate Industry and export oriented industries like IT, garments, textiles, diamond polishing etc, were directly affected by the global melt-down and the resultant credit squeeze, others suffered from the ripple effect. A negative prognosis further dampened an already weak economic sentiment, resulting in most companies engaging in significant cost cutting. This was reflected in a curtailment of travel expenses on all fronts, in turn impacting airline bookings, hotel bookings and car rentals negatively. To make matters worse, the events of 26/11 at Mumbai had a lingering effect in the latter part of the financial year. Foreign visitor arrivals into India have shrunk, particularly in the last two quarters. Hotels and airlines across India are reporting a drastic fall in demand levels. In the January-March 2009 quarter, domestic airlines have reported a fall of 12 per cent year on year. The year was also marked by most airlines changing their business models when it came to compensating travel agents. They abandoned the age-old commission structure, and instead encouraged travel agencies to charge a transaction fee. This had a negative effect on companys revenue and profitability from this segment. The Car Rental business was hardest hit since it depends almost entirely upon the corporate sector. A minor reduction in fuel tariffs gave a measure of relief but it was too little, too late. Fixed costs are being rationalised and a more aggressive sales stance is

being adopted to counter the drop. With the revamping of the MICE Division, your Company wrested last minute contracts from competitors for arranging accommodation and transport for five conventions held in Delhi / Mumbai during the last quarter. The Division also contracted with a Germany based international MICE event organiser to be their Sole Official Travel Agent and Conference Manager for four major international exhibitions to be held in India during September / October 2009. Despite overseas arrivals during the period January- February 2009 falling 13.8% year on year, companys efforts to break into the Israeli market finally bore fruit and the first tranche of inbound tourists arrived in February with a promise of more to follow in 2009-10. As regards outbound leisure business, significant successes were achieved in securing large group movements to Langkawi and Dubai.

Financial Performance
The 29 year old integrated travel management company has shown a growth in Profit after Tax of 38% for the year ended 31st March 2010.Company recorded an income of Rs.78.96 crores registering a marginal growth over last year. Company earned Rs. 9.07 crores in foreign exchange and utilised foreign exchange of Rs. 0.04 crores. It has achieved an operating profit of Rs.17.00 crores up by 26% from previous years (2008-09) Rs.13.45 crores. Net profit of the company increased to Rs.11.29 up by 38% as compared to Rs.8.18 crores for the Corresponding last financial year. Earnings per share for 2009-2010 reached at Rs14.13 as against Rs.10.24 for the corresponding PERIOD last year (2008-2009). The Board of Directors of the Company at its meeting held on May 04, 2010, has recommended a dividend of 32.50 % for the financial year ended March 31, 2010. The equity capital of the company is 7.99cr and the accumulated reserves stand at 67.28cr. The D/E ratio is 0.11 and ROCE is 20. The Companys shares of Rs.10 F.V. are quoted at 171 in BSE and are available at a P/E of 12 against the industry average of 69.

Comparative Income Statement:

Table 3

Profit & Loss account

Mar '09 (12 mths) Mar '10 (12 mths) 108.16 0 108.16 2.09 0 110.25 0 7.03 21.93 0 0 54.2 0 83.16 25 27.09 0.42 26.67 9.67 0 17 0 17 5.7

In Rs. Cr.
Increase/Decrease % Change 30.78 0 30.78 -0.65 0 30.13 0 -0.33 -0.02 0 -13.26 40.03 0 26.42 4.36 3.71 -0.5 4.21 0.12 0 4.09 -0.57 3.52 0.43 31.68086754 -100 26.11275964 8.159392789 46.56327106 21.12403101 15.86826347 -54.34782609 18.74443455 1.256544503 -100 282.4982357 -4.483695652 -0.091116173 37.60609086 39.77772034 -23.72262774 39.77772034

Income
Sales Turnover Excise Duty Net Sales Other Income Stock Adjustments Total Income 77.38 0 77.38 2.74 0 80.12 0 7.36 21.95 0 13.26 14.17 0 56.74 20.64 23.38 0.92 22.46 9.55 0 12.91 0.57 13.48 5.27

Expenditure
Raw Materials Power & Fuel Cost Employee Cost Other Manufacturing Expenses Selling and Admin Expenses Miscellaneous Expenses Preoperative Exp Capitalised Total Expenses

Operating Profit PBDIT Interest PBDT Depreciation Other Written Off Profit Before Tax Extra-ordinary items PBT (Post Extra-ord Items) Tax

Reported Net Profit Total Value Addition Preference Dividend Equity Dividend Corporate Dividend Tax Per share data (annualized) Shares in issue (lakhs) Earnings Per Share (Rs) Equity Dividend (%) Book Value (Rs) Interpretation:

8.18 56.75 0 2.4 0.41

11.29 83.16 0 2.6 0.44

3.11 26.41 0 0.2 0.03

38.0195599 46.53744493 8.333333333 7.317073171

79.95 10.24 30 83.83

79.95 14.13 32.5 94.16

0 3.89 2.5 10.33

0 37.98828125 8.333333333 12.32255756

There has been an increase in net sales of 39.7% while other income has decreased by 23.7% thereby resulting in an increase in total income of 37.6%. Although operating expenses has increased by 46.56% the increase in gross profit is sufficient to compensate for the increase in operating expenses and hence there has been an overall increase in operating profits amounting to Rs. 4.36 cr. i.e. 21.12% in spite of an increase in miscellaneous expenses to Rs. 40.03 cr. i.e. 282.4%. There is an increase in net profits after tax amounting to Rs. 3.11 cr. i.e. 38.01%. it may be concluded that there is a sufficient progress in the company and the overall profitability of the company is good.

Financial Ratios:
Table 4

Financial Ratios

In Rs. Cr.
Mar '09 Mar '10

Investment Valuation Ratios

Face Value Dividend Per Share Operating Profit Per Share (Rs) Net Operating Profit Per Share (Rs) Free Reserves Per Share (Rs) Bonus in Equity Capital 10 3 25.78 96.79 73.44 -10 3.25 31.27 135.29 ---

Profitability Ratios
Operating Profit Margin (%) Profit Before Interest And Tax Margin (%) Gross Profit Margin (%) Cash Profit Margin (%) Adjusted Cash Margin (%) Net Profit Margin (%) Adjusted Net Profit Margin (%) Return On Capital Employed (%) Return On Net Worth (%) Adjusted Return on Net Worth (%) Return on Assets Excluding Revaluations Return on Assets Including Revaluations Return on Long Term Funds (%) 26.63 14.21 14.29 19.06 19.06 10.52 10.52 15.79 12.21 7.88 7.46 7.46 15.79 23.11 13.89 14.16 19.01 19.01 10.24 10.24 22.46 15 15 94.16 94.16 22.46

Liquidity And Solvency Ratios

Current Ratio Quick Ratio Debt Equity Ratio Long Term Debt Equity Ratio Debt Coverage Ratios Interest Cover Total Debt to Owners Fund Financial Charges Coverage Ratio Financial Charges Coverage Ratio Post Tax 1.64 1.61 0.08 0.08 14.55 0.08 22.94 20.35 1.73 1.73 0.03 0.03 41.53 0.03 64.6 50.99

Management Efficiency Ratios

Inventory Turnover Ratio Debtors Turnover Ratio Investments Turnover Ratio Fixed Assets Turnover Ratio Total Assets Turnover Ratio Asset Turnover Ratio Average Raw Material Holding Average Finished Goods Held Number of Days In Working Capital -1.43 ---1.41 --113.03 -1.85 ---1.72 --117.38

Profit & Loss Account Ratios

Material Cost Composition Imported Composition of Raw Materials Consumed Selling Distribution Cost Composition Expenses as Composition of Total Sales --0.82 11.72 34.28 15.82 46.9 81.09 0.38 10.24 83.83 ---7.54 26.91 14.49 73.09 85.51 0.11 14.13 94.16

Cash Flow Indicator Ratios

Dividend Payout Ratio Net Profit Dividend Payout Ratio Cash Profit Earning Retention Ratio Cash Earning Retention Ratio AdjustedCash Flow Times Earnings Per Share Book Value Interpretation:

Current ratio is 1.73 means that current assets are 1.73 times of current liabilities. Quick ratio is more than 1 i.e. 1.73 means that the firm is liquid and has the ability to meet its current or liquid liabilities in time. The firm good liquidity position as it has fast moving inventories because debtors are given a time of 30 days. Debtors turnover ratio has increased from 1.43 to 1.85 means there is efficient management of debtors / sales or more liquid are the debtors. Debt Equity ratio has decreased from 0.08 to 0.03, is considered as favourable from the long term creditors point of view because a high proportion of owners funds provide a larger margin of safety for them. Gross Profit Margin has decreased to 14.16% from 14.29% which indicates increase in cost of goods sold. Operating Profit Margin, Net Profit Margin has also decreased to 2.11%, 10.24% respectively. Return on Net Worth has increased to 15% from 12.21%. It indicates the firm is able to achieve the objective to maximize its earnings. The resources of the firm are being efficiently used. 22.46% is the return on Capital Employed i.e. of the total investment made in the business. Return on Asset is 94.16% showing good profitability position of the firm.

Comparative Balance Sheet:

Table 5

Balance Sheet
Sources Of Funds
Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Networth Secured Loans Unsecured Loans Total Debt Total Liabilities 7.99 7.99 0 0 59.03 0 67.02 5.59 0 5.59 72.61 56.42 28.11 28.31 0.26 19.75 0 45 5.7 50.7 7.27 4.55 62.52 0 34.08 4.14 38.22 24.3 0 72.62 0.2 83.83 7.99 7.99 0 0 67.28 0 75.27 2.27 0 2.27 77.54 62.74 31.74 31 0.27 11.01 0 71.88 5.56 77.44 5.99 0 83.43 0 43.88 4.29 48.17 35.26 0 77.54 0.34 94.16

In Rs. Cr.
Mar '09 Mar '10 (12 mths) (12 mths) Increase/Decrease % Change 0 0 0 0 8.25 0 8.25 -3.32 0 -3.32 4.93 6.32 3.63 2.69 0.01 -8.74 0 26.88 -0.14 26.74 -1.28 -4.55 20.91 0 9.8 0.15 9.95 10.96 0 4.92 0.14 10.33 0 0

13.9759444 12.3097583 -59.391771 -59.391771 6.78969839 11.2017015 12.9135539 9.50194278 3.84615385 -44.253165 59.7333333 -2.4561404 52.7416174 -17.606602 -100 33.4452975 28.7558685 3.62318841 26.0334903 45.1028807 6.77499311 70 12.3225576

Application Of Funds
Gross Block Less: Accum. Depreciation Net Block Capital Work in Progress Investments Inventories Sundry Debtors Cash and Bank Balance Total Current Assets Loans and Advances Fixed Deposits Total CA, Loans & Advances Deffered Credit Current Liabilities Provisions Total CL & Provisions Net Current Assets Miscellaneous Expenses Total Assets Contingent Liabilities Book Value (Rs)

Interpretation:

Short term Financial Position: Current Assets have increased by 52.7% and Current Liabilities have increased by 28.7%. March 2009 working capital is Rs. 16.62 cr. March 2010 working capital is Rs. 33.56 cr. this shows there is an increase in working capital of Rs. 16.92 cr. means improvement in the current financial position of the business. Increase in liquid assets will improve the liquidity position of the concern. Long term Financial Position: Net worth of the company has increased to Rs. 8.25 cr. i.e. by 12.3%; debt decreased to Rs. 3.3 cr. i.e. by 59.3%; fixed decreased by Rs. 4.55 cr. and investments decreased by Rs. 8.74 cr. i.e. by 44.2%. This shows company has raised long term funds. Profitability of the concern: Reserves have increased by Rs. 59.03 cr. to Rs. 75.27 cr. i.e. 8.25% and Secured loans have decreased by 59.3% shows the profitability has improved. The overall financial position of the company is satisfactory.

Future Prospects
The Indian economy is expected to stabilise by end September 2009 and estimates of GDP growth during financial year 2009-10 hover around 5 per cent. Company is undertaking various measures to not only recoup lost business once the economy stabilises but to also widen its reach. It is expected that corporate travel, in particular, should pick up during the last two quarters of the financial year 2009-10. Some large outbound leisure contracts have been finalised with a few organisations and many more are being negotiated. Company has set itself ambitious targets in this regard. Inbound Leisure business is, obviously, dependent upon the economic situations prevailing within the source markets. Bearing this in mind, Company is attempting to source business from those countries that have been less affected by the global melt-down.

Awards & Recognitions:

International Travel House commenced its operations way back in 1981 and over the years it has bagged some of the Travel and Tourism Industrys most coveted Awards and Recognitions.

Ethics is Good Business Award: Travel House was awarded the prestigious
Ethics is Good Business Award 2006 by PHDCCI.

Best

Travel

Agency

India:

ITH

has

been

unanimously

voted

as

the

Best Travel Agency India consecutively for three years (2005, 2006, 2007), by the readers of the prestigious travel magazine TTG Asia, along with its sister publications TTG China, BTN Asia Pacific, BTN China and TTG Mice. The annual TTG Travel Awards, presented by TTG Asia Media, honour Asia-Pacific's most outstanding travel organizations for their achievements and contributions. International Travel House has been acclaimed as the Best Travel Agency by Hospitality India, a leading publication in the travel industry.

Best Car Rental Company: Travel House once again stood tall with the
Best Car-Rental Company Award for 2007 by the travel magazine Hospitality India

Golden

Peacock

Award:

Travel

House

was

the

proud

recipient

of

the

Golden Peacock Award for excellence in Corporate Governance for the year 2007 under private sector category at the National level by the Golden Peacock Jury met under the chairmanship of Justice P. N. Bhagawati, former Chief Justice of India and Member UN Human Rights Commission. This award is given by the Institute of Directors in association with the World Council for Corporate Governance, UK.

Registered & Corporate Office

Travel House T - 2, Community Centre Sheikh Sarai Phase - 1 New Delhi 110017 Tel Fax : : 011-26017808 011-26011543 / 26015113 travelhouse@ith.co.in www.travelhouseindia.com

E Mail : Website :

Competitors
Thomas Cook (India) Ltd.: Thomas Cook (India) Ltd. launched its Indian operations in 1881 and is celebrating its 127 years of world-class service in India. Thomas Cook Group plc is one of the largest travel groups in the world with a market capitalization of approximately US$6 Billion. TCIL presently operates in over 72 cities across over 180 locations. The company has overseas operations in Sri Lanka, which is a branch of TCIL, and Mauritius, which is a subsidiary of Thomas Cook (India). The Company employs over 2,200 resources and is listed on both the Bombay Stock Exchange as well as the National Stock Exchange. Thomas Cook (India) operates in the following areas of business, namely:

Leisure Travel Corporate Travel Management MICE, Foreign Exchange Travel Insurance

Credit Cards Pre-Paid Cards Life Insurance and E-Business

Cox & Kings Ltd.: Cox & Kings is the longest established travel company in the world. Its distinguished history began in 1758 when it was appointed as general agents to the regiment of Foot Guards in India under the command of Lord Ligonier. Cox & Kings is a premium brand in all travel related services in the Indian subcontinent, employing over 800-trained professionals. The principal services offered by the company are:

Destination Management Outbound Tourism Business Travel Incentive & Conference Solutions Domestic Holidays

NRI Trade Fairs Foreign Exchange Insurance

Yatra Online Private Ltd.: Yatra Online Pvt. Ltd. is a smart travel company providing information, pricing, availability and booking facility for air travel, hotels, buses and car rentals across 5000 large cities and small rural areas around the globe. As an online travel company, Yatra.com acts as a complete tour planner for travelers and is a one-stop shop for every travel need. The Yatra.com team is currently 700 people strong with staff being based across 16 cities in India.

Transcorp International Ltd.: Acknowledged and appreciated for the unique service standards and quality assurance, Transcorp International Ltd. continues on the path of progress and expansion. Transcorp operations include money changing, inward remittance, car renting services and organizing tours & travels.

Introduction to Products
Cruise Holidays
The floating luxury vessels, replete with every thinkable activity and entertainment one can find, take one to some of the worlds best-kept hideaways and tourist destinations minus the fatigue of travelling by air or road. Though the very mention of a cruise sets us imagining a honeymoon couple, now days, cruise ships with entertainment provisions for children have made the dream of a complete family vacation on the seas come true! Besides, cruises can be a wonderful rekindle-the-old-flame tour for couples bonded in matrimony for years! Conference arrangements for the corporates make business, leisure, and team-building programmes possible right on the sea.

Royal Caribbean Cruise Destinations:

ASIA PACIFIC HONG KONG KAOHSIUNG, TAIWAN HUALIEN, TAIWAN EUROPE MALAGA, SPAIN TENERIFE, CANARY ISLANDS MADEIRA (FUNCHAL) PORTUGAL MALAGA, SPAIN AJACCIO, CORSICA PROVENCE (TOULON), FRANCE MEDITERRANEAN BARCELONA, SPAIN NAPLES/ CAPRI, ITALY ROME (CIVITEFRANCHE), ITALY FLORENCE / PISA, ITALY NICE, FRANCE PROVENCE, FRANCE COZUMEL, MEXICO FORT LAUDERDALE, FLORIDA BARCELONA, SPAIN FORT LAUDERDALE, FLORIDA GEORGE TOWN, GRAND CAYMAN VENICE, ITALY DUBROVNIK, CROATIA EPHESUS, TURKEY SANTORINI, GREECE CORFU, GREECE TAIPEI (KEELUNG), TAIWAN HONG KONG

Celebrity Cruise Destinations:

MEDITERRANEAN BARCELONA, SPAIN NICE (VILLEFRANCHE), FRANCE GENOA. ITALY FLORENCE/PISA (LIVORNO), ITALY ROME (CIVITAVECCHIA), ITALY NAPLES/CAPRI, ITALY ALASKA VANCOUVER, BRITISH COLUMBIA KETCHIKAN, ALASKA ICY STRAIT POINT, ALASKA JUNEAU, ALASKA SKAGWAY, ALASKA HUBBARD GLACIER SEWARD, ALASKA BARCELONA, SPAIN MIAMI, FLORIDA KEY WEST, FLORIDA COZUMEL, MEXICO MIAMI, FLORIDA

International Holidays
Romantic Holidays: Singapore, Mauritius, Romantic Italy, Paris, Switzerland, Hong Kong Classic Holidays: Turkey, Colombo, Greece, Egypt, South Africa, Australia, New Zealand,
Australia, USA

Rail Tours: France, Italy, Switzerland Leisure Breaks: Thailand, Bangkok, Malaysia, Singapore, Paris, Turkey, Mauritius, Hong Kong

India Holidays
Adventure Holidays, Ayurveda & Spa Holidays, Heritage Holidays, Hill Station, Honeymoon Holidays, Luxury Holidays, Religious Tours, Wildlife Holidays, Kashmir, Rajasthan

Royal Indian Weddings

The Concept Royal Indian Weddings
As an event, marriage occupies a singular place in our life. Thus was born the concept of Royal Indian Weddings a marriage ceremony celebrated in the style of the Maharajas in heritage palaces, recreating the grandeur of Indias opulent past. On client requests, the segment got customized further with inclusions of ceremony themes like Mughal Durbar, Indian Village, Royal Rajput, Kerala and Goa wedding themes and so on. It has special sections made on Weddings in India, Wedding Venues and the Wedding Styles available in various cities of India to explore and understand the concept of Royal Indian Weddings better.

Travel House Royal Weddings Services

Travel House is known for its experience and expertise of over two decades, in offering a comprehensive range of personalized travel related services for the discerning business and leisure traveler, supplemented well with range of premium services like Business & Leisure Travel, Car Rentals, Conference & Event Management and Luxury Coach Tours.

Listed below are some substantial services from the Wedding Management closet:

Venue & hotel booking: Based on customer requirements and preferences, help them to decide on the venue and take care of all booking related procedures.

Invitation: Help one to choose the right invitation card as well as print and dispatch them to family and friends.

Transportation: As travel management professionals, it organizes transportation right from customers doorstep to the venue and back.

Reception of guests: Upon arrival, welcome all family and guests in the traditional Indian style followed by welcome drinks.

Sangeet & Mehendi: For sangeet & mehendi ceremonies, help one choose the appropriate venue and cuisine, organise singers, musicians and performers.

Grooming & beauty treatment: Arrange beauticians, hairdressers and personal grooming for the bride / bridegroom.

Wedding Shopping: Arrange professionally guided shopping tours for jewellery, trousseau and wedding garments.

Legalities: Assist in acquiring legal certificates necessary for the wedding ceremony. Sightseeing for guests: Since the Royal Wedding Palaces are situated in historically and naturally rich places, it organise sightseeing excursions for family and guests. Honeymoon packages: By virtue of being Indias premiere travel and tourism company, it customize the most romantic of honeymoon packages anywhere in the world. Royal Weddings Abroad: Arrange weddings for Indian or Foreign Nationals at enticing venues in offshore destinations at very competitive rates.

Weddings at Umaid Bhawan Palace, Jodhpur

The 26-acre Umaid Bhawan Palace at Jodhpur, Rajasthan, is the perfect setting for the culmination of a fairy tale romance. This Palace, with its plush courtyards, interspersed with fountains and flowerbeds, majestic marbled halls lit by crystal chandeliers, liveried staff, specialized theme restaurants, is one of the most sought-after wedding venues in the world. Ever since 1977, the Umaid Bhawan Palace, has been functioning as a spectacular five star deluxe hotel, retaining the charisma

of its past magnificence, and offering all modern amenities an international guest would expect. A portion of the Palace is still occupied by the present Maharaja of Jodhpur. Jodhpurs Umaid Bhawan Palace has a Central Dome, whose cupola rises to 147 feet, a Throne Room for private audience, a Library, a private Museum, an indoor Swimming Pool, a Billiards Room, Tennis and Squash Courts, and garages stabling numerous vintage cars, many in mint condition. Elegant dining areas and bars complement the majestic ambience that this grand structure of pink sandstone and gleaming marble offers.

The ballroom, Marwar Hall, with its parquet floors and vaulted arches, evokes nostalgic memories of a past age and can accommodate up to 250 guests for cocktails and dinner.

The Courtyard with a Fountain is lit up with diffused lighting and forms a perfect setting for cocktails and dinner.

The open-sky Museum Courtyard, is perfect for an intimate gathering of 75 to 100 guests.

The lush Baradari Lawns, lit with rows of flaming torches, against the backdrop of the imposing Palace, especially floodlit in the evenings, is a fairytale setting for a large reception.

The nearby Mehrangarh Fort, illuminated by mashaals (flaming torches) recreates the magnificence of its medieval past and hosts magical wedding evenings.

The Balsamand Lake Palace, is the royal summer palace on the banks of an enchanting artificial lake, set amidst an orchard. The Palace, now converted into a Welcome Heritage hotel, offers its Poolside Lawns and the main Terrace for engagement ceremonies to the accompaniment of traditional music. It can accommodate over 60 guests, and can be an instant favourite for those who have a taste for solitude.

Weddings at Fateh Prakash Palace, Udaipur

A 20th century palace in Rajasthan, right on the shores of the shimmering Lake Pichola is the next option. The Fateh Prakash Palace, an exclusive part of the City Palace Complex at Udaipur, is now a heritage hotel run by the HRH Group. It commands enchanting views of the Jagmandir, Lake Palace, and Sajjangarh Fort. The walls of Fateh Prakash Palace boast of numerous original Mewar frescoes, while its kitchens offer both international and traditional Rajasthani cuisine, making it one of Indias grandest wedding venues

The walls of the Durbar Hall are resplendent with portraits of the Maharanas of Mewar, priceless paintings, and gold-inlaid weaponry. The ceilings sparkle with chandeliers and gold-embroidered canopies. The first floor gallery houses the famous Crystal Gallery. The ambience and hospitality are bound to leave the guests awestruck.

The 15th century Jagmandir Island, located in the middle of Lake Pichola, has an ornate courtyard decorated with fountains and an exquisitely carved Chhatri (pavilion) of special gray-green granite. Guests are ferried to the island on decorated boats. On special occasions, the entire island is illuminated with lights. From the island one gets a 360 degree view of the City Palace, Lake Palace, the Lake and the Aravali hills.

The Zanana Mahal, is ideal for candle-lit banquets and sangeet (music) ceremonies for weddings. The huge courtyard boasts of leafy trees, fountains and flower-decked canopies.

Manek Chowk, opposite City Palace, Udaipur, has been the traditional venue for royal festivals since the early 1600s. Decorative lights and mashals (flaming torches) against the backdrop of the City Palace allow for a quaint venue for a memorable evening banquet.

The Zanana Mahal is ideal for candle-lit banquets and sangeet (music) ceremonies for the weddings. The huge courtyard is flaked with plush trees, fountains and flower-decked canopies.

Manek Chowk, opposite City Palace, Udaipur, has been the traditional venue for royal festival since the early 1600s. Decorative lights and mashals form the backdrop of the faade of the City Palace for a memorable evening banquet at Manek Chowk

Weddings at Lake Palace, Udaipur

A visual feast and an architectural wonder, the very vista of the white-marbled Lake Palace, floating on the still blue waters of the Pichola Lake, inspires romance and poetry. A wedding ceremony at this location is truly out-of-the-world. A prized Taj property at Udaipur, Rajasthan, this heritage hotel, is considered one of the most romantic palaces in the world. The Lake Palaces elegant suites adorned with ornate glasswork, bohemian crystal lights and intricate miniature paintings, bear testimony to the grandeur of the erstwhile Maharajas of Rajasthan who lived here once. Cruise the lake on the Gangaur boats and dine by the Lily Pond with cocktails and a sitar player to set the mood. Add to it folk dances, fireworks display and traditional hospitality to feast your guests to a wedding they will carry in their memories for all.

Weddings at Rambagh Palace, Jaipur

One of the most preferred venues for royal Indian weddings is the Rambagh Palace at Jaipur, Rajasthan. This palace is one of the finest Heritage Hotels run by the Taj Group, and has an ensemble of some of the most regal rooms, decked with paintings and antique furniture, amidst 47 acres of beautifully landscaped gardens.

One of the horticultural wonders of Rajasthan, the Naksha Garden of Rambagh Palace, Jaipur, is an ideal setting for truly regal royal wedding celebrations. Peacocks preen and strut about the lawns

while the flower-beds teem with seasonal tropical blooms. The evening would start with a Royal Procession (Baraat) comprising of the grooms family and friends, who are accorded a welcome fit for royalty. The procession is lead by musicians playing traditional instruments like the dhol and the shehnai, followed by caparisoned elephants, camels and horses.

Panghat, an amphitheatre resembling a traditional Rajasthani village, is the location for the Mehendi and Sangeet ceremonies. One could also go for a Meena Bazaar theme, which would include a Chudiwali (bangle seller) and a Mehendiwali (girl who applies Henna patterns on hands and feet).

Weddings at Neemrana Fort, Alwar

For a royal wedding in the Maharaja style, the restored 13th century Neemrana Fort at Alwar, Rajasthan, provides the perfect blend of traditional hospitality and modern amenities.

The towering ramparts of Neemrana Fort stand proudly amidst 25 acres of plush greenery, studded with a pool and flower beds. The halls and the rooms display a matchless confluence of traditional Indian and colonial furniture, antiques and objets deart. The ambience is just perfect for hosting royal Indian weddings.

Weddings at Mysore Palace, Mysore

One of the grandest and the largest private properties in the world, the Mysore Palace at Mysore in Karnataka, is a major tourist attraction, with its Durbar Hall (Royal Audience Hall), the Golden Elephant Throne, and the Kalyana Mandapam (wedding hall).

The wedding hall has massive antique chandeliers and walls decked with original oil paintings of the much-acclaimed Mysore Dussehra festival. No matter from which direction one looks at the paintings, the procession appears to be approaching towards the viewer.

Royal Wedding Themes Mughal Durbar Style Wedding

Go back in time into Indias regalpast, experience the ambience and opulence of the great Mughal Emperors. Beautiful hostesses welcome each guest by sprinkling attar (perfume) and flower petals, liveried retainers usher them courteously into the royal Dining Hall where the tables groan under the weight of an array of scrumptious Mughal delicacies, served in a manner that truly befits royalty. The guests are attired in traditional Pagris (Turbans) and silken Kurtas (Shirts), while the groom is dressed in an embroidered designer Sherwani (long tunic).

Maharaja Style Wedding

A grand procession of gaily decorated camels and elephants welcomes you and your guests; hostesses dressed in colourful Rajasthani costumes honour each guest by performing the traditional, aarti tikka and garlanding ceremonies. Accomplished musicians meanwhile play poignant tunes on the obligatory Shehnai (an oboe like wind instrument); folk dancers twirl and posture to timeless tunes that invoke the blessings of the gods for an auspicious wedding; the plethora of dishes, prepared by highly experienced chefs taste like manna from the heavens.

Rajput Style Wedding

The Rajputs (literal: offspring of kings) are the principal warrior race of Rajasthan (literal: land of the kingdoms). In keeping with their name, they still follow aristocratic ceremonial practices. Rajput weddings are reminiscent of the kingly style of a proud warrior race. The bridegrooms party reaches the venue of the wedding with the bridegroom riding a white mare and preceded by a brass band playing lively tunes while retainers carry mashaals (flaming torches) to light the way. The religious part of the ceremony is done under a floral mandap (pavilion) that forms a sacred space.

MICE
ITH has organized most of the major Conferences and Exhibitions held in India chiefly World Law Group Spring 2006 Conference, Defexpo 2006,Aero India 2005, Stone Mart 2005, 10th Indian Golf & Resort Expo, fib Symposia & Expo on Segmental Construction in Concrete, World Conference on Disaster Mitigation , Global Steel'2004, 19th World Mining Congress, Junior Chambers International Young Business Leaders World Conference, 9th Asian Congress & Expo of Nutrition, The Biennial Congress of the International Colored Gemstone Association (ICA), International Congress of Child and Adolescent Psychiatry and Allied Professions, 70th Conference of The International Law Association , 9th Asian Pacific Congress of Clinical Biochemistry and Labtek Exhibition, VIth World Congress of Echocardiography and Vascular Ultrasound, 13th International Bar Association Conference.

International Travel House Limited is member of International Congress and Convention Association (ICCA) and India Convention Promotion Bureau (ICPB). It is also recognized as a leading Conference organizer by the Department of Tourism, Government of India and the first ISO 9001 multi-location travel management company with 31 offices in all major cities of India. Its backbone for success is complete understanding of the importance of the event, pragmatic planning, a pro-active approach, high benchmark of quality, administration and secretarial work. It works with expertise to organize cost-effective events and always deliver better than anticipated results. It offers total solution for Conference, Exhibition or Event. With over 3 decades of experience and expertise in organizing world class Conferences, Exhibitions and Events with participation strength of 25 delegates to 4000 delegates or 25 stalls to 500 stalls anywhere in India, and capable of delivering a world class and hassle free environment for conducting business. International Travel House Limited is well equipped to meet the diverse needs of an organizer and always deliver uniqueness to an event.

Conventions
Travel House works closely with organisers and assists them in the following areas:

Preparation of Master Checklist Venue Selection and Negotiation of Special Rates Preparation of Conference Budget and monitoring expenses as per approved budget Marketing and Promotion Assistance in generating Sponsorships, Grant Permissions from Nodal, Home and External Affairs Ministry and other authorities Printing of announcement/registration brochures Designing of event website with online registration facility Data compilation and mailing Negotiation of special room tariff at various budget categories ranging from 5 star to guest house accommodation to suit all & booking of rooms through regular correspondence with delegates Regular correspondence and pre-registration of delegates from Conference secretariat at our office (huge work space available with state-of-the-art facilities or from your office location) Finalisation of quality vendors for audio-visuals, signage, transport, manpower,

photo/videographer at special negotiated rates Any special requirement like Interpretation and translation services, secretarial assistance, security, master of ceremony etc Finalisation of venues for social evenings/official dinners Cultural programmes Preparation of pre/post Conference tour and spouse programmes. Tour selling Printing

Protocol rules in case of attendance by Honble President of India and Prime Minister of India or other Head of States Airport Hospitality Counter at International / Domestic Terminals Conference shuttle Onsite registration Venue/hall/sessions management (Total venue management) Inaugural / valedictory ceremony management Post event report and submission of financial reports

Exhibition facilities:

Assistance in generating Sponsorships Preparation of Exhibition Layout with fully constructed stalls and bare space Printing of Exhibition Brochure with Exhibitor and Visitor profile, Layout plan and Space Booking Form Designing of event website promotions Data compilation and mailing Space selling by way of personal visits at all locations with support of our local offices Printing of Exhibition Posters to be displayed at related Institutes, Organisations Preparation of Exhibitor Manual and Show Directory Visitor Promotion Freight and logistics coordination Hangar / Stall Construction Site Management Dismantling / Gate Passes Clearances etc.

Time Out
In todays changing business environment, corporate houses are calling Conferences and Meetings like never before. Be it a meeting of top professionals or a country meet of the Sales team, an annual Channel partners / dealers gathering, Conferences have almost become vital to the very businesses as they are relying more and more on a free flow of information and effective communication that conferences aid. Also, Travel is now universally accepted as a popular motivational tool. Most Corporates are realizing its potential in meeting their desired results and Conferences combined with a substantial dose of fun & entertainment is the order of the day. Travel House, with its background as a total travel solutions provider, is uniquely positioned to make your Conference / Incentive programme / Sales meet an event to remember! The various types of events that it can help to organize include; Residential Conferences, Dealers, Channel partners & Staff Incentive tours, Sales Meets, Training Programmes & Workshops, Special Events Annual Day, Awards function, Theme Dinners etc, HOD Meets, AGMs, Leisure trips.

Planning: Understanding the logistics involved, Budgeting, Destination selection, Property / Venue selection

Designing: Programme & Itinerary design, in consultation with client, Activity selection. Execution: Constant liasion with hotel / venue, all vendors negotiations and billing, Professional on-site staffing, if required, special requirements like Theme Dinners etc, Transport / Travel management, Post-event reporting.

Overseas Travel Insurance Cover

1. 2. Personal accident covers death and permanent disablement. Medical Expenses and Repatriation covers hospitalisation expenses for accident or illness, including medical evacuation wherever necessary. 3. Loss of checked baggage The Company will pay the Insured up to the Section C Sum Assured specified in the schedule in respect of the complete and permanent loss or destruction of the Insureds Checked Baggage, save that the Company may, in its sole and absolute discretion, opt to reinstate or replace the Checked Baggage as an alternative to making payment to the Insured hereunder: It is a condition precedent to the Companys Liability hereunder that upon discovering

3.1

the loss of Checked Baggage the Insured shall obtain a relevant property irregularity report from the Airline and submit it to the Claims Administrator in the event of a Claim.

3.2

Any Claim for any item lost in respect of which the Claim exceeds Rs.6,000/- or other

currency equivalent must be supported by documentation evidencing the Insureds ownership of the item, such documentation to be submitted to the Claims Administrator in the event of a Claim. The Companys liability to make payment shall not arise until liability is admitted by

3.3

the Airline. The Companys payment to the Insured will be reduced by any sum for which the

3.4

Airline is liable to make payment.

4.

Delay of checked baggage The Company will indemnify the Insured up to the Section D Sum Assured specified in the schedule in respect of the Insureds emergency purchase of toiletries, medication and clothing to replace those contained in Checked Baggage, the arrival of which is delayed by more than 12 hours beyond the time of the Insureds arrival at the intended destination outside of India.

5.

Loss of passport In the event of the Insureds loss of his passport, the Company will indemnify the Insured up to the Section E Sum Assured specified in the schedule in respect of the reasonable expenses necessarily incurred by the Insured in obtaining a duplicate or fresh passport. Loss or damage to the Insureds passport as a result of confiscation or detention by

5.1

customs, police or any other authority.

5.2

Loss which is not reported to the appropriate police authority within 24 hours of the

discovery of the loss, and in respect of which an official report has not been obtained. Loss caused by the Insureds failure to take reasonable steps to guard against the loss

5.3

of the passport. Personal liability covers legal liability attaching in a private capacity during the course of overseas travel. 7. Cashless service Direct settlement for in-hospital medical expenses abroad. (Subject to policy terms and conditions and sub limits) 8. Hospitalisation Allowance covers daily allowance maximum up to $150 applicable only for Corporate Frequent Traveller Policy Holders.

6.

9.

Golfers Hole-in-one: Reimbursement expenses incurred in celebration of achieving a hole in - one by the insured during the trip, anywhere in the world excluding India, in a United State Golf Association (USGA) recognized golf course.

10. Emergency Cash Advance: This is an assistance service when the insured person requires emergency cash following incidents like theft/burglary of luggage/money or hold up. The service provider shall co-ordinate with the insured persons relatives in India to provide emergency cash assistance to the insured person as his requirement, up to limit specified in the policy schedule. 11. Hijack cover: For each 24 hour period the insured is detained by hijackers following the hijacking of any aircraft in which the insured is travelling, the Company will pay the sum specified in the schedule subject to the maximum the limit specified in the schedule. All other policy terms and conditions shall remain unaltered.

Exclusions:

1. 2.

The policy does not cover pre-existing diseases and complications arising from them. Routine physical or other examinations where there are no objective indications of impairment of normal health.

3. 4.

Medical expenses beyond the expiry of the policy period. Suicide, attempted suicide willfully self inflicted injury or illness, mental disorder, anxiety, stress or depression, venereal disease, alcoholism, drunkenness, abuse of drugs, HIV, AIDS.

5.

Manual work or hazardous occupation, self-exposure to needless peril (except in an attempt to save human life), or if engaging in any criminal or illegal act.

6.

Pregnancy, resulting in childbirth, miscarriage, abortion or complications arising out of any of the foregoing.

7.

Loss or damage to the Insureds passport as a result of the confiscation or detention by customs, police or any other authority.

8.

Loss which is not reported to the appropriate police authority within 24 hours of the discovery of the loss, and in respect of which an official report has not been obtained.

9.

Loss caused by the Insureds failure to take reasonable steps to guard against loss of passport.

Money Changer
Entitlements for Leisure Travel - Up to US$ 10,000 or its equivalent per person, in one calendar year for one or more private visits (BTQ) to countries other than Nepal and Bhutan.

Entitlements for Business Travel - Up to US$ 25000 or its equivalent for business travel to countries other than Nepal and Bhutan.

Research Methodology
Research methodology is a careful investigation for inquiring in a systematic method and finding solution of a problem. It comprises the defining and redefining of problem formulation hypothesis, collecting and evaluating data, making detection and reaching conclusion.

Background of the problem undertaken

Travel and Tourism is a major revenue source in the world economies. Through structured and coordinated approach, there exist adequate opportunity for growth and development of international prominence, with consequent economic and social benefits for all. Travel and Tourism can be a tool for the economic development of a country through wealth creation, creative positive image of the country, increasing skill levels of the workforce and generating employment for the local populace. There is an urgent need to tap the potential economic benefits that will come from tourism business. The challenge is to promote travel houses and attract domestic and international tourists. There is lack of reliable information about the consumer perception for travel houses and their services. The proposed study is meant to understand the above mentioned.

Rational Of Study
As a student of Masters of Business Administration, there is a need to understand the overview of an organization in its Financial, Marketing and Human Resource performance. Examining the overview of the above said factors will help to gain insight of Mission, Vision, Operational Goals and Strategies of an organization to perform up to the expectations of its stake holders.

Scope Of Study
The scope of this study is to understand the needs of the travellers and make travel houses competent with world class services.

Purpose of Research
Travel and Tourism Industry provides employment and generate revenue for many economies across the world. India is in the initial stage in this industry. It has the potential to emerge as one of the top 10 favourite tourist destinations of the world within next 3 years. (Source, World Travel and Tourism Council website) With this, there is a rise in Travel Management Organisations in recent years. With competition in mind, there is always a race to attract more customers. This study was initiated to explore the various dimensions of the market and identify new areas where Travel Houses can effectively position its services, based on consumer perceptions and needs.

Sampling Design
In sampling technique, information is collected only from a representative part of the universe and the conclusions are drawn on that basis for the entire universe. A random sampling technique was used to collect data from the respondents. A random sample is a sample selected from a population in such a way that every member of the population has an equal chance of being selected and the selection of any individual does not influence the selection of any other.

Sample

A sample is a representative part of the population. Consumer survey conducted over telephone and in person at Chandigarh and Mohali. Personal interviews conducted with the help of senior executives of International Travel House Ltd.

Sample Size

Sample size denotes the number of elements selected for the study. For the present study, 150 respondents selected at random who are the customers of one or another travel house. Out of these 150 respondents, 80 were specifically ITH customers.

Sources Of Data
The study was based on the mix of primary and secondary sources of information. Primary source comprised of surveys and personal interviews with regular and walk-in customers, where as secondary source was information from websites of various agencies, published data from Journals, articles of Tourism and Hospitality management, and other publications in related areas.

Primary Source

Primary data are those collected by the investigator himself for the first time for a purpose and are original in character. Consumer survey conducted over telephone and in person at Chandigarh and Mohali. Personal interviews conducted with the help of senior executives of International Travel House Ltd. and got suggestions to improve the services. Focus was to understand the requirement and perception of consumers towards travel houses. The main tool was the questionnaire method in research process.

Secondary Source

Secondary data are those, which have already been collected by some other persons for their purpose and published. They are usually in the shape of finished products. Reports from Ministry of Tourism, Govt. of India provided general information on travel trends as well as on specific geographical markets. These reports provided details about future market development activities at various cities. It provided in-depth knowledge on tourism trends in India and helps to capture the direct as well as indirect impact of tourism on the Indian economy. Internet was also one of the sources for data.

Objectives of the Study

Main Objective

Travel and Tourism Industry provides employment and generate revenue for many economies across the world. India is in the initial stage in this industry. It has the potential to emerge as one of the top 10 favourite tourist destinations of the world within next 5 years. With this, there is a rise in Travel Management Organisations in recent years. With competition in mind, there is always a race to attract more customers. This study was initiated to explore the various dimensions of the market and identify new areas where Travel Houses can effectively position its services, based on consumer perceptions and needs.

Specific Objective

To identify the performance of Travel Houses To understand the quality of services maintained To identify the trend of travel i.e. peak season of travelling

To determine the effectiveness of promotional campaigns

To know the competitors in a better way To get feedback on what consumers expect from travel houses
To make people aware about the differences between travel agent and travel house

Methodological Roadmap
Table 6

Step No. 1.

Work

Outcome

Data Source

Usage

Industry and Organization introduction

How travel and tourism industry works and its potential? Services provided by the organization and its USP.

Website of MoT and ITH.

Knowledge of the industry and organisation.

2.

Analysis of choices and trends

Knowing customers preference and decision factors for new tourist destinations.

Experience of senior employees.

Offering tour packages to customers.

3.

Opinion survey conducted through questionnaires

Understanding consumers preferences, demand and perception.

Questionnaire, Internet, Journals, Reports and Magazines.

Helpful for understanding the behavior and choices of consumers. To reach the consumer with improved services and cut competition.

4.

Analysis of the survey

Organization getting customer friendly with world class services.

Questionnaire

Analysis & Interpretation

Testing Of Hypothesis
The test of hypothesis begins with an assumption about the population from which the sample is drawn. According to Prof. Morris Ham bury, A hypothesis is simply a quantitative statement about a population. Hypothesis testing deals with a procedure, which accepts or rejects the hypothesis.

Hypotheses are of two types:

1.

Null Hypothesis

2.

Alternate Hypothesis

Null Hypothesis

The null hypothesis is a very useful tool in testing the significance of difference. It states that there is no real difference in the sample value and population value in the particular value under consideration. This means that the observed difference is due to the random fluctuations. The null hypothesis is denoted by H0.

Alternate Hypothesis

The alternative hypothesis specify those values that the researcher believes to hold true, and he hopes that the sample data lead to acceptance of this hypothesis as true.

Types of Errors

When a statistical hypothesis is tested, there are two possibilities:

1.

The hypothesis is true but the test rejects it (Type I error)

2.

The hypothesis is false but the test accepts it (Type II error).

Level of Significance

Confidence with which the null hypothesis is accepted or rejected depends on what is called significant level. The probability, with which we may reject a null hypothesis, when it is true, is called the level of significance. Therefore the level of significance is the risk, statisticians running in his decision. The level of significance is denoted by a. It is better to keep level of significance at a low percentage. It means that we should not reject a true hypothesis.

Acceptance Region

This represents the region with which the calculated value of the statistics must lie to accept the null hypothesis. If calculated value lies in this region then the null hypothesis will be rejected.

Procedure for Testing Hypothesis

1. Set up a null hypothesis (H0) and alternative hypothesis (H1) appropriate to the test to be conducted.

2.

Specify the suitable level of significance.

3.

Decide the test criterion suitable to the test statistics

4.

Calculate the value of the test statistics using the appropriate formula

5.

Make decisions about accepting or rejecting the null hypothesis. If calculated value is less than tabulated value, H0 is accepted; else, H1 is accepted.

Chi- square Test

The 2 test is a non- parametric test in statistical work. It describes the magnitude of discrepancy between theory and observation

where O refers to observed frequency and E refers to expected frequency. The value of from zero to infinity. If

can range

zero it means that, the observed and expected frequencies completely

coincide. The greater the discrepancy between the observed and expected frequencies, the grater shall be the value of . The calculated value of is compared with the table value of for given is more than

degrees of freedom at a certain specific level of significance. If the calculated value of the table value of

, the difference between theory and observation is considered to be significant. If is less than the table value, the difference between theory and observation

the calculated value of

is not considered as significant.

Degree of Freedom (DOF)

It is the number of classes to which the values can assigned arbitrarily without violating the restrictions or limitations placed. It is calculated using the following formulae. DOF = (r- 1)* (c 1) where r is the number of rows, c is the no: of columns

DOF = (n-1), where n is the number of pairs observed and expected values.

Condition for Applying Chi-square Test

The total sample size must be reasonably large. The constraints on the cell frequencies if any should be linear. No theoretical cell frequency should be less than five. In case, the cell frequency is less than five, then Yates correction factor will be applied.

Uses of Chi-square Test

It is used as a test of independence of attributes. This test brings association, if any, between the attributes. It is used as a test of goodness of fit. In other words, it tests whether the given set of observation will fit in to the distribution (normal, binomial etc) It is used as a test of homogeneity. In other words, it tests whether a set of readings are more uniform or non-uniform. So with this test we can determine whether two or more independent random samples are drawn from the same population or not.

Test Of Hypothesis
Q.) Is the sample population satisfied with their travel houses?
Table 7

Consumer Satisfaction Satisfied Unsatisfied Total

ITHL 48 32 80

Other 32 44 70

Total 74 76 150

Hypothesis: H0: Satisfied H1: Unsatisfied Level of significance: 5%

Table 8

DOF: (R-1) (C-1) = (2-1) (2-1) = 1 Table Value = 7.88 Test of statistics- (O-E)*2/E

O 48 32 26 44 Total

E 39.46667 40.53333 34.53333 35.46667

(O-E)^2 72.81778 72.81778 72.81778 72.81778

(O-E)^2/E 1.845045045 1.796491228 2.108622909 2.053132832 7.803292014

Computed Value = 7.80 Conclusion and Interpretation:

Table Value = 7.88

Since, the computed value is lesser than table value, null hypothesis (H0) is accepted, i.e. alternate hypothesis (H1) is rejected. It means sample population is satisfied with their travel houses. As the difference between computed and table value is less, means many of respondents are unsatisfied.

Q.)

Is sample population satisfied with the services of ITHL?

Table 9

Consumer Satisfaction Satisfied Unsatisfied Total

Air Ticketing 64 16 80

Rail Ticketing 72 8 80

Car Rental 72 8 80

Destination Management 70 10 80

Total 278 42 320

Hypothesis: H0: Satisfied with services H1: Unsatisfied with services Level of significance: 5%
Table 10

DOF: (R-1) (C-1) = (2-1) (4-1) = 3 Table Value = 12.8 Test of statistics- (O-E)*2/E

O 64 16 72 8 72 8 70 10 Total

E 69.5 10.5 69.5 10.5 69.5 10.5 69.5 10.5

(O-E)^2 30.25 30.25 6.25 6.25 6.25 6.25 0.25 0.25

(O-E)^2/E 0.435252 2.880952 0.089928 0.595238 0.089928 0.595238 0.003597 0.02381 4.713943

Computed Value = 4.71 Conclusion and Interpretation:

Table Value = 12.8

Since, the computed value is lesser than table value, null hypothesis (H0) is accepted, i.e. alternate hypothesis (H1) is rejected. It means sample population is satisfied with the services of ITHL.

Data Presentation & Statistical Analysis

The following table and diagram shows the sample according to age group under various headings; Education, Marriage, Employment, Income
Table 11

Education Age Group 21-30 31-40 41-50 51-60 Graduate 11 70 38 6 Post Graduate 2 15 8 0

Marital Status Married 10 85 46 6 Unmarried 3 0 0 0

21-30

Employment Private 12 72 25 4
31-40

Income <3 Lakhs 8 54 28 2 3-6 Lakhs 1 16 11 3 6-10 Lakhs 3 10 6 1 10-20 Lakhs 1 5 1 0 0 0 6 0

Self 2 13 13 3
41-50

Government

51-60

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Graduate Post Graduate Married Unmarried Private Self Government <3 Lakhs 3-6 Lakhs 6-10 Lakhs 10-20 Lakhs

Education

Marital Status

Employment
Figure 1

Income

The following diagram shows sample distribution of Age Group: 21-30 according to Table 11.
Income 6-10 Lakhs 6% Income 3-6 Lakhs 2% Income 10-20 Lakhs 2%

Employment Government 0% Employment Self 4%

Income <3 Lakhs 15%

Education Graduate 21%

Education Post Graduate 4%

Employment Private 22%

Marital Status Married 19%

Marital Status Unmarried 5%

Figure 2

The following diagram shows sample distribution of Age Group: 31-40 according to Table 11.
Income 6-10 Lakhs 3% Income 3-6 Lakhs
5%

Income 10-20 Lakhs 1%

Employment Government 0% Employment Self 4%

Income <3 Lakhs 16%

Education Graduate 21%

Education Post Graduate 4%

Employment Private 21%

Marital Status Married 25%

Marital Status Unmarried 0%

Figure 3

The following diagram shows sample distribution of Age Group: 41-50 according to Table 11.
Income 6-10 Lakhs 3% Income 3-6 Lakhs 6% Income 10-20 Lakhs 1%

Income <3 Lakhs 15% Employment Government 3% Employment Self 7%

Education Graduate 21%

Education Post Graduate 5%

Marital Status Married 25% Employment Private 14%

Marital Status Unmarried 0%

Figure 4

The following diagram shows sample distribution of Age Group: 51-60 according to Table 11.
Income 6-10 Lakhs 4% Income 10-20 Lakhs 0%

Income 3-6 Lakhs 12% Income <3 Employment Lakhs Government 8% 0% Employment Self 12%

Education Graduate 24%

Marital Status Married 24%

Education Post Graduate 0%

Employment Private 16% Marital Status Unmarried 0%

Figure 5

From the above Table 11 and figures, inferred that:

Out of the 100% population, 83% are graduate and 16% post graduate. Out of the 100% population, 98% are married and 2% unmarried. Out of the 100% population, 4% are govt., 75% private employees and 20% self-employed.

Age distribution of sample population:

Table 12

Age Group 21-30 31-40 41-50 51-60

No. of Respondents 13 85 46 6

%age
4% 9% Age Group 21-30 31-40 41-50 56%

8.67
31%

56.67 30.67 4

51-60

Figure 6

Income Status of sample population:

Table 13

Income Status No. of Respondents %age <3 Lakhs 3-6 Lakhs 6-10 Lakhs 10-20 Lakhs >20 Lakhs 92 31 20 7 0 61.33 20.67 13.33 4.67 0
21% Income Status 5% 0% 13% <3 Lakhs 3-6 Lakhs 6-10 Lakhs 61% 10-20 Lakhs >20 Lakhs

Figure 7

Q1.) Which travel you do?

Table 14

Particulars No. of Respondents Both Inbound Outbound 58 92 0

%age 38.67
61% 0%

39%

Both Inbound

61.33 0

Outbound

Figure 8

Q2.) How often do you travel in a year?

Table 15

No. of times 1 to 2 3 to 5 5 to 10 more than 10

No. of Respondents %age 16 110 22 2 10.67 73.33 14.67 1.33 Figure 9

15%

1%

11%

1 to 2 3 to 5

73%

5 to 10 more than 10

Q3.) What is your annual travelling budget (in `)?

Table 16

Amount (in `) <25000 25000-50000 50000-75000 >75000

No. of Respondents 16 85 40 9

%age 10.67 56.67 26.67 6 Figure 10

27% 6% 11% <25000 56% 25000-50000 50000-75000 >75000

Q4.) Which holiday packages have you availed?

Table 17

Particulars Adventure Holidays Hill Station Wildlife Holidays Ayurveda & Spa Holidays Honeymoon Holidays Religious Holidays Heritage Holidays Luxury Holidays

No. of Respondents 13 28 17 18 33 16 10 15

%age 8.67 18.67 11.33 12 22 10.67 6.67 10 Figure 11

7% 19% 10% 8%

Adventure Holidays Hill Station Wildlife Holidays Ayurveda & Spa Holidays Honeymoon Holidays Religious Holidays

11%
11% 22% 12%

Heritage Holidays
Luxury Holidays

Q5.) Which tours you prefer?

Table 18

Particulars Romantic Tours Leisure Break Tours Classic Tours Rejuvenation Tours Rail Tours Cruise Tours

No. of Respondents 6 29 39 28 31 17

%age 4 19.33
21% 11% 4%

Romantic Tours
Leisure Break Tours Classic Tours Rejuvenation Tours Rail Tours Cruise Tours

19%

26 18.67 20.67 11.33 Figure 12

19% 26%

Q6.) What was your travelling frequency during the last year?
Table 19

Particulars High Low Jan 69 81 Feb 73 77 Mar 64 86 Apr 77 73 May 82 68 Jun 97 53 Jul 115 35 Aug 87 63 Sept 91 59 Oct 93 57 Nov 126 24 Dec 111 39

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

81

77

86

73

68

53

35 63 59 57

24

39

69

73

64

77

82

97

115 87
91 93

126

111

Jan

Feb Mar Apr May Jun

Jul

Aug Sept Oct Nov Dec

Figure 13

Q7.) Do you distinguish between a Travel House and a Travel Agent?

Table 20

Particulars Yes No

No. of Respondents 54 96

%age
36%

36 64

64%

Yes No

Figure 14

Q8.) Is your preferential travel house ISO 9001 certified?

Table 21

Particulars Yes No Dont Know

No. of Respondents 23 15 112

%age 15.33
75% 15% 10% Yes No Dont Know

10 74.67 Figure 15

Q9.) Which travel house services you availed recently?

Table 22

Particulars International Travel House Ltd. Trans Corp International Ltd. Makemytrip.com Yatra.com Cox & King India Pvt. Ltd. Ekido Holiday Tours Pvt. Ltd. Thomas Cook None

No. of Respondents 19 9 14 21 24 23 22 18

%age 12.67 6 9.33 14 16 15.33 14.67 12

15% 15% 16% 12% 13%

International Travel House Ltd. Trans Corp International Ltd. Makemytrip.com

6% 9% 14%

Yatra.com Cox & King India Pvt. Ltd. Ekido Holiday Tours Pvt. Ltd. Thomas Cook None

Figure 16

Q10.) Rank the services availed by you on the scale of 1 to 10 (Low to High)
Table 23

Services Air Ticketing Rail Ticketing Car Rentals Destination Management MICE & Corporate Travel World Class Holidays Cruise Holidays India Holidays Money Changer Visa Services Overseas Travel Insurance Cover Royal Weddings

No. of Respondents
150 150 150 150 125 57 16 150 48 49 48 4

Sum of Ranks
930 1005 1023 976 769 363 118 997 227 288 289 30

Average of Ranks
6.2 6.7 6.82 6.51 6.15 6.37 7.37 6.65 4.72 5.88 6.02 7.5

Grading
Good Good Good Good Good Good Best Good Unsatisfactory Satisfactory Good Best

Limitations of Study
No research is without limitations, but their number can be reduced to achieve accuracy. The survey conducted within the limited period, so shortcomings may be expected. The respondents personal bias is uncontrollable. The finds of the survey is strictly based on responses of the respondents. It is difficult to find the euthenics be true, so they are assumed to be true. It was difficult to find respondents as they were busy in their schedule, and collection of data was very difficult. Therefore, the study had to be carried out based on the availability of respondents. The respondents were not comfortable; they showed non-cooperative approach and rude behavior while revealing their information. Some respondents responded half-heartedly and gave incomplete information.

Findings of Study
Half of the respondents of a sample are aware about ITHL according to the hypothesis conducted. Education level and marital status of respondents is high as 125 and 147 respectively out of 150 respondents. Majority of people surveyed are private employees i.e. 113 respondents out of 150 are using the services of ITHL. Awareness level among the respondents is low as 23 respondents out of 150 are aware about the ISO certification of their respective travel service providers. In addition, 54 respondents know the difference between travel agent and travel house.

In the sample 85, 46 respondents belong to age group 31-40 and 41-50 respectively out of 150 and 85, 40 respondents out of 150 spend around ` 25000-50000 and ` 50000-75000 respectively on travelling expenses annually. As most of the respondents are literate, it is not difficult to educate them. Cox & King India Pvt. Ltd., Ekido Holiday Tours Pvt. Ltd., Thomas Cook are the competitors as they cover approx. 45% of the total market share and ITHL cover approx 13% of the total market share in Chandigarh and Mohali. During the third quarter of the year, the travelling trend is highest according to the sample. ITHL deals corporate sector mainly, as now it is moving towards individual travelers.

Recommendations
Company should do the work on its advertising and publicity policy, as people are not aware about the existence of the company. Understanding the customer better will allow the company to design appropriate packages, determine pricing correctly and increase profitability. Company can gain an edge over its competitors by providing quality services to customers. Company should build strong relationships with customers to serve them effectively by understanding their needs and requirements. Company should hold an exercise to educate people about their strengths and tell them how they are different from the competitors and can serve them well. ITHL must advertise more about its website in the mass media so people can customize packages as per needs at their convenience and get details about them in a detailed manner.

Conclusion
The different information or benefits derived from the in-depth study of the above-mentioned information sources are as follows:

1.

Consumer behavior and perception study; it helped to know that what actually is consumer behaviour and what are the factors that affect the buying behavior of consumers. It also helped to know that how can perception have a positive and a negative impact on the consumer behaviour.

2.

Travelling industry in India- this section helped in knowing Indias potential in Travel & Tourism. People have been visiting different regions to experience the vibrant colors of India.

3.

Competition existing in the present market; there are many other companies posing tough competition to ITHL i.e. Cox & Kings India Pvt. Ltd, etc.

4.

All the marketing information sources have given a significant contribution to the detailed theoretical perspective for the research i.e. about consumer behavior and perception.

5.

World Wide Web also worked as a highly important information source as it provides updated information for the research relating to various areas.

Questionnaire for Consumer Survey

69

Dear Respondent, this survey is conducted to understand your perception regarding Travel Houses. It is to improve the facilities and services according to the demands of the users. (All details provided here will be used for research purpose only and will NOT be disclosed or used for any commercial purposes).

Name Address

: _______________________________________________________________________ : _______________________________________________________________________ 21-30 Graduate Married Private 3-6 Lakhs 31-40 41-50 Post Graduate Unmarried Self 6-10 Lakhs Retired 10-20 Lakhs > 20 Lakhs 51-60 61-70 Professional

Age Group (in Years) : Education Marital Status Employment Status Annual Income : :

: Government : <3 Lakhs

Q1.) Which travel you do? Inbound Outbound Both

Q2.) How often do you travel in a year? 1-2 3-5 5-10 more than 10

Q3.) Whats your annual travelling budget (in `)? <25,000 25,000-50,000 50,000-75,000 > than 75,000

Q4.) Which holiday packages have you availed? Adventure Holidays Hill Station Wildlife Holidays Ayurveda & Spa Holidays Honeymoon Holidays Religious Holidays Heritage Holidays Luxury Holidays None

Q5.) Which tours you prefer? Romantic Tours Leisure Break Tours Classic Tours Rejuvenation Tours Rail Tours Cruise Tours

Q6.) What was your travelling frequency during the last year? (Rank as High (H) or Low (L)) Jan May Sept Feb Jun Oct Mar Jul Nov Apr Aug Dec

Page 1 of 2

Q7.) Do you distinguish between a Travel House and a Travel Agency? Yes No

70

Q8.) Is your preferential travel house ISO 9001 certified? Yes No Dont Know

Q9.) Which travel house services you availed recently? International Travel House Ltd. Trans Corp International Ltd. Makemytrip.com Yatra.com Cox & King India Pvt. Ltd. Ekido Holiday Tours Pvt. Ltd. Thomas Cook None

Q10.) Rank the services availed by you on the scale of 1 to 10 (Low to High) Services Air Ticketing Rail Ticketing Car Rentals Destination Management MICE & Corporate Travel World Class Holidays Cruise Holidays India Holidays Money Changer Visa Services Overseas Travel Insurance Cover Royal Weddings Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Offered No No No No No No No No No No No No Ranking

Q11.) Are you satisfied with your travel house services? If No Why? Yes No

__________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

Q12.) Any suggestions for travel managers to improve their services and infrastructure: __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________

Thank you very much for your time and valuable information.

Page 2 of 2