bbr volume 2 issue 9

8/14/2019 BBR Volume 2 Issue 9

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BRUINBUSINESSREVIE

HOSPITALITY & TOURISVOLUME II ISSUE

WHAT’S INSI

WANT TO TWANT TO TWANT TO TWANT TO TEARN CREDIT FO

See pa

10 SIMPLE TIPSTRAVEL & SAVE

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THINK GREEN:

eco-tourismSee pa



2008-2009 BBR STAFF

ABOUT US

QUESTIONS, COMMENTS, CONCERNS?E-mail: [email protected]

Mailing address:Bruin Business Review

118 Kerckhoff Hall308 Westwood Plaza

Los Angeles, CA 90024-1641

Shannon KungPresident

Benjamin LoEditor-in-Chief

Maya Lucaci-VasheeAssistant Editor

Sunny WongVP of Operations

Christine LiuVP of Marketing

Julie ChenVP of Finance

Erika SolankiVP of Creative Development

Eric ParkMarketing Department

Stefanie JuMarketing Department

Jaeman KimFinance Department

Grace ChanFinance Department

Dmitry ShusterStaff Writer

Bruin Business Review is a student-run online publication established in 2007for the purpose of providing the UCLA student body with a convenient sourceof business news and career information. We publish every two weeks on the

Internet and by subscription, allowing our content to be accessible to every-one. Our goal is to enrich our readers’ knowledge of the business world andthe career options within it by presenting a wide range of business-relatedtopics in a non-technical style. Our broad range of topics encompasses cur-rent business news, resume tips, employer and MBA program profiles, indus-try insight, and others. For more information about BBR, visitwww.bruinbusinessreview.com.



Dear Readers:Welcome to a new quarter of Bruin Business Review. Thank you to all our old readers who continue to support ourpublication. Just as importantly, we would like to thank all our new subscribers for choosing Bruin Business Review asa source for relevant business information. We hope that we can continue to write about issues and topics we thinkwill pertain to your interests and goals.

Bruin Business Review was founded to be a free source of information for students in regards to the business world, job opportunities, current events, industries, and much more. We seek to provide this information to students in amanner that is clear, non-technical, and easy to comprehend so that it may be applicable to the general student body – regardless of their background.

The staff of Bruin Business Review dedicates themselves toward serving the student body and continually seek to im-prove our publication in light of the needs of students. We greatly appreciate all the feedback that our readers havesubmitted to us and we strive to incorporate these suggestions back into the magazine to better serve your needsand preferences.

Due to our constant drive to improve our publication, we would like to inform our readers of a few changes that willoccur for this quarter. As you may have already noticed, our first issue for this quarter is not being released until thefourth week. We hope this change will allow us to focus more on improving future issues. Subsequently, we will bepublishing our second official issue for the quarter during week eight. In between that time, during the sixth week of the quarter, we will also be publishing a smaller supplemental issue, dedicated solely toward updating you on currentevents.

Thank you again for continuing to actively subscribe toBruin Business Review, as we would not be where we are to-day without your support. With this being said, I hope that you continue to find this issue informative as well as ourissues to come.

Sincerely,

Benjamin Lo

Editor-In-Chief



A P R

I L 2 0 0 9

April 20Professional Conduct & Job SearchEthicsTime : 5pmLocation : James West Alumni CenterDescription : UCLA employers, recruiters,and HR professionals will share insightsand anecdotes about the best and worstbehaviors and the deals they witnessedwhen job candidates and young profes-

sionals tried to walk away with the bestadvantage.

Careers in AccountingTime : 7pmLocation : UCLA Career Center, ThirdFloor Conference RoomDescription : Discover the dynamic ca-reer of accounting, where the conflu-ence of math and investigation solveperplexing problems and galvanize busi-nesses.

April 21Business Careers in EntertainmentTime : 5pmLocation : UCLA Career Center, ThirdFloor Conference RoomDescription : Informative programwhere you will learn from a panel of pro-fessionals how you too can join the En-tourage of business professionals drivingthe entertainment industry.

Applications due for SAS ScholarshipTime : 5pmLocation : Undergraduate AccountingOffice, Suite D413Description : To be eligible to apply, allsophomores must have completed Man-agement 1A and 1B or 100 and all jun-iors and seniors must have completed atleast four accounting classes. Pleasevisit the website at www.uclasas.org todownload an application.

April 22Let’s talk Internships!Time: 5pmLocation : James West Alumni CenterDescription : Featured panelists will con-vey information about working in local,national, and international careers.

April 23Careers in Advertising, Marketing &Public RelationsTime: 5pmLocation : Morgan Center Press RoomDescription : This program, featuring apanel of professionals from advertising,marketing, and public relations, will fo-cus on media, present current opportu-nities, and discuss the hiring processes.

Careers in Entrepreneurship and Intel-lectual PropertyTime: 5pmLocation : UCLA Career Center, ThirdFloor Conference RoomDescription : Come hear what it takes tomake an idea into a successful businessas we uncover how to embark on a ca-reer as an entrepreneur and other ca-reers involving intellectual property.

April 24Career Planning/Job Seeking in a ToughEconomy Time: 11 amLocation : Morgan Center Press RoomDescription : At this session, discoverwhere the jobs are and how you canland one, plus get tips on becoming amore competitive candidate.

April 25

RSVP Deadline for SAS Spring BanquetCost : $15 for SAS members and $20 fornon-membersN o t e s : S ign up onl ine a twww.uclasas.org and make sure to sendyour meal (chicken or vegetarian) andtop-three firm seating preferences [email protected] soon as possible.

April 29Bruin Finance Investment Banking Ca-reer PanelTime: 7-9pmLocation: AndersonDescription: Come network with BulgeBracket investment banking firms suchas Merrill Lynch, Barclays, and JP Mor-gan. Bruin Finance will be inviting bank-ers in various stages of their careers tospeak to UCLA students. Sign up atwww.bruinfinance.com



TABLE OF

CONTENTS6666 New of the Week: Banks Taking the Lead

7777 News Briefs

9999 Economic Trends in the Hospitality Industry

11111111 Career Profile: Hotel Management

13131313 The Business of Gaming-Based Tourism

16161616 Spotlight on a Hospitality School

19191919 International Lease Finance Corporation

20202020 10 Money-Saving Traveling Tips

23232323 Studying Abroad: Traveling While Earning Units

25252525 Eco-Tourism



By Benjamin LoSenior Staff Writer

As the week of April 13 drew to a close, the United States showed overall signs of recovery as major financial banksreleased their quarter reports. While many investors were preparing for a season of declining profits, big banks such asJP Morgan Chase, Goldman Sachs, and Citigroup provided positive results, despite a recession-driven economy.

Much of the banks’ profits can be accredited to their mortgage refinancingservices due to the government’s currently low interest rates in the market.Revenues from trading in these divisions increased throughout the earlypart of the quarter.

On August 16, JP Morgan reported profits of $2.1 billion for the first quarterof 2009. Its profits stemmed from strong results in their mortgage lending

and investment banking divisions. Before accounting for costs, the firm’srevenues rose to $26.9 billion, a 50% increase from a year before. Prior tothe release of JP Morgan’s quarterly report, analysts from Bloomberg Newsestimated that the firm would earn, on average, 32 cents a share. The firmoutdid these estimates, earning 40 cents a share.

Similarly, Goldman Sachs recently announced profits of $1.66 billion. The firm reported quarterly revenues of $6.56billion, which were up $9.43 billion, 13% higher than what they were a year ago. These profits were focused mainly inthe bank’s divisions that deal primarily with mortgage and other credit instru-ments.

Citibank closed the week with its release of its quarterly report, which an-nounced profits of $1.6 billion, with revenues totaling $24.8 billion. The bankhad reported a loss of $5.11 billion in profits one year ago. This boost in reve-nues was helped by strong results in its Institutional Clients Group. Analystsfrom Thomson Reuters expected Citigroup to reports revenues at only $21.95billion.

While these quarterly reports show signs of financial recovery, many still holdconservative views on our economy’s growth. JPMorgan’s chairman and chief executive, Jamie Dimon, said there were some “positive signs” for the industry, but he warned that a deterioratingeconomy could cause losses to climb higher, according to The New York Times. The bank has set aside another $4.2

billion in case the economic environment worsens from pressures in ris-

ing unemployment and declining market confidence.Outside of banking, the housing market continues to struggle as the con-struction of new homes declined last month. In addition, the data firmRealtyTrac reported that foreclosure filings increased by 9% in the firstquarter.

Binky Chadha, Chief United States Equity Strategist at Deutsche Bank,warned to not be too optimistic about these indicators. He said, “We’resort of approaching the upper bound of where we should be, and it’sstarting to look a bit stretched.”

BANKS TAKING TSigns of Economic



By Dmitry ShusterStaff Writer

NEWSBRIEFSINTEL PROFITS PLUMMET 55 PERCENT AS A RESULT OF LOW DEMAND

Intel Corp., the world’s largest computer chip maker, announced a 55percent decline in first-quarter profits due to weak demand. The com-pany indicated that profits will not recover in the current period and it isplanning sales of approximately $7.1 billion for the second quarter,which is in line with analyst expectations. This decrease in profits comes

as computer makers cut back orders in the computer industry’s worstslump since 2001. Intel believes that PC sales reached their low point inQ1 2009 and will return to their normal patterns in future quarters. Ana-lysts expect PC sales to fall by 4.5 percent in 2009, the first such declinesince 2001. Worldwide PC shipments were down 7.1 percent, which isless than the 8.2 percent drop that was expected.

YAHOO! CUTS JOBSYahoo’s new CEO, Carol Bartz, has implemented an internal

management reorganization program, the main purpose of which is to reorganize management and simplify the reportingprocess, which has led to more job cuts as the U.S.’s secondlargest search engine attempts to revive growth. Yahoo is ex-pected to slash hundreds of jobs in the near future. These cutsfollow the significant job cuts that took place in the third quar-ter of 2008, which resulted in a decrease of 1,600 jobs. Thesearch engine has also projected that sales in Q1 2009 will bedown as much as 16 percent or $1.53 billion.

FED CONSIDERS REGULAR PRESS BRIEFINGSThe Federal Reserve is considering holding regular press briefings to improve the public’s understanding of the actionsthat it takes during the financial crisis. These considerations come at a time when the Fed is being pressured to explainits actions to a broader public. It has also been under pressure by lawmakers to provide more information about itslending. In another unusual step, the Fed published excerpts from Ben Bernanke’s speech in an Atlanta newspaper. Toimprove communication, the Federal Reserve website has been redesigned to provide more information about itsbooks and recent actions. These new efforts to communicate with the public follow the Fed’s cutting of the benchmarkinterest rate to a level near zero.



GOLDMAN SACHS TO REPAY FEDERAL LOAN

RETAIL SALES FALL AGAIN; ECONOMY STILL FAR FROM RECOVERYJust as many were beginning to think that the economy was slowly starting to recover, a report was released on Tues-

day, April 14, revealing that retail sales fell by 1.1 percent in March. This drop follows February’s 0.1 percent gain. Excluding automotive, building materials, and gasoline, sales dropped 0.9 percent, which directly reverses the previousmonth’s 0.9 percent gain. Clothing retailers reported that sales fell less than expected thanks to spring promotions. Inthe general-merchandise retail industry, Wal-Mart reported that sales rose, while sales at Costco fell 5 percent. Im-provements in other sectors – auto sales, home sales, home building – had raised optimism about the economy’s re-covery. Both President Obama and Fed Chairman Ben Bernanke cited those improvements in separate speeches, butalso warned of the dangers and difficulties that lie ahead. Bernanke pointed to the improvements as signs that the de-cline in economic activity may be slowing, but cautioned that the true indicator of economic recovery lies in the gov-ernment’s ability to boost financial markets. President Obama warned that more jobs will be lost and more foreclo-sures will occur before a permanent economic rise occurs. The economy shrank by 6.3 percent in the last quarter of 2008, signifying the worst economic performance in the last quarter-century. It shrank at a 5 percent pace in the first

quarter of 2009.

CHINA’S BOOMING AUTO INDUSTRYMonday will mark the opening of the Shanghai Motor Show, and arecord number of auto makers are expected to be in attendance.More than 1,500 companies will attend the show as China threatensto surpass the U.S. as the world’s largest automotive market. Totalauto sales in China are expected to rise above 10 million, accordingto analysts, while the estimate for U.S. sales was cut to 9.7 million.This is a decrease of 1 million from the original estimate of 10.7 million automobiles to be sold in 2009. Additionally, many car manufac-turers are trying to capitalize on the benefits that China’s huge mar-ket has to offer. GM’s sales, for instance, surged to a record high inChina last month. At the same time, its U.S. sales plunged by 45 per-cent. Toyota plans to open a new factory which will increase the

Japanese automaker’s production capacity by 11 percent to 1 million vehicles per year. Volkswagen has invested ap-proximately $9 billion in China and plans to release four new models each year in an attempt to double its annual salesto 2 million cars. Passenger car sales in China have soared 10 percent in March. This directly contrasts with a 37 per-cent decline in the U.S. and a 32 percent drop in Japan. As a whole, the Chinese automotive market has grown by anaverage of 20 percent in the past decade, although vehicle ownership per person is still one-third of the world average.

Goldman Sachs has sold $5 billion worth of stock in an at-tempt to begin repaying the $10 billion loan that it re-ceived as part of the government’s Troubled Asset Relief Program. The firm sold 40.65 million shares at a price of $123 per share. The company’s CFO, David Viniar, said thatGoldman considers it their “duty to return the funds.” Re-

paying the borrowed funds would loosen several govern-ment restrictions such as caps on executive pay. The stocksale came one day after Goldman announced a better-than-expected quarterly profit. The bank’s shares have morethan doubled from their record low of $47.44 on November 21, 2008. Goldman Sachs is one of nineteen banks cur-rently undergoing “stress testing” which is aimed at gauging how well these banks can weather a deep recession.



By Christine LiuStaff Writer

Come June, and it will be time for some fun in the sun; time forus to spend some well-earned money vacationing, right? Well,despite the traditional vacation time, the tourism, hospitality,and leisure industry (THL) is experiencing a significant decline ithe U.S.

Consisting of about 30,000 companies, the U.S. hotel and motelindustries rake in a combined annual revenue of over $90 billion.Forty-five percent of the market is held by the industry’s 50largest companies; the largest of these include Marriott

International, Hilton Hotels, Carlson Hotels, and Starwood Hotels& Resorts. A typical hotel has about $7 million in annual revenueand 100 employees.

The U.S. THL industry is expected to experience a much tougheyear, despite several years of healthy growth before 2009. Theindustry growth was a result of increased globalization of corporations; corporate clients traveled more, which led tostrong demand for air travel and hotels. 2007 was a high for thetourism hospitality, and leisure industry, according to SmithTravel Research (STR), a lodging industry benchmarking anresearch business.

However, the combination of the housing crisis, a risingunemployment rate, and the credit crunch left the economy in arecession, which means consumers have less disposable income.Not only are individuals cutting back on money spent on travel,corporations are also reducing employee travel and conventions.For example, in 2007, Manhattan hotels had an 80% occupancyrate. But in August 2008, a typically strong month for U.S. leisurtravel, occupancy rates fell and by the fourth quarter of 2008,available room decreased by 18 percent. Furthermore, according

2008-200

ECONOMIC TREND

HOSPITALITY IN



the THL sector experienced a measurable fallout in the hotel industry, resulting in a slowdown in the gambling sectorand a large switch from casual dining restaurants to quick-serve restaurants.

In April of 2009, occupancy rates fell 9.9 percent, from 62.3 percent of the same month in 2008 to 56.2 percent thisyear. The average daily rate dropped 9 percent, while revenue per to data from the Department of Commerce, over-seas arrivals to the United States plummeted almost 8 percent in January. Overseas visitors significantly contribute theeconomy; they spend an average of $4,400 per person each trip.

The industry expects to experience continued difficulties well into 2009; Deloitte’s October 2008 survey showed that of those who answered, 38% expect to spend less on vacation and leisure travel over the next year, while only 21% saidthey expected to spend more. Consumers may not be as willing to take the longer, seven to fourteen day vacation and,instead, will opt for the cheaper three to four day long weekend or a ‘mini-vacation.' Furthermore, the huge increase inairplane ticket prices likely will prevent somepeople from flying to a vacation destination,and instead may lead people to decide todrive to a spot closer to home.

While the growth of THL companies in the U.S.is slowing down, they are still expanding glob-

ally as an effective way to increase marketshare, build brand awareness and spread riskover the long term. In China, the 2008 Olym-pics was a big push for the THL industry there,and the construction of hotels in the large andmedium-sized citiesare expected tocontinue.

In addition, thecruise industryshowed growth int h e s u m m e rmonths outside of the United States.To many travelers,the value of havingthe two-in-one dealof transportation to a foreign destination as well as a vacationspot on a luxury cruise is appealing. Cruise lines expect a strongnumber of passengers, and consequently, are currently investingin bigger and more spectacular ships. Within the next 15 months,five cruise lines will debut their biggest ships at a combined esti-

mated cost of $4.47 billion. For example, Royal Caribbean will de-but their new Oasis of the Seas, which is a 220,000-ton, 5,400 passenger cruise ship launching in December later thisyear.

After experiencing a low from the September 11 attacks, the tourism, hospitality, and leisure industry recovered fromdecreased rates of travel and experienced healthy growth. However, by 2008, the recent economic downturn hasproved to be another event the industry will need to overcome. Thus, corporations in this industry look to internationalmarkets in hopes of expanding and building the brand name in other countries in order to survive the recession.



CAREERCAREERCAREERCAREERPROFILEPROFILEPROFILEPROFILE :::: HOTEL MANAGEMENT

By Sunny WongSenior Staff Writer

A career in hotel or hospitality management provides awell-rounded and rewarding career for those who excelin leadership and for those who find working with othersfulfilling. Although one must possess a strong degree of patience in dealing with many unpredictable scenarios,the skillset that one develops through this job function isremarkable.

ESSENTIAL PERSONAL ATTRIBUTES

Excellent customer service is a key component in thisfield. One of the first things the customer notices abouta hotel is the quality and friendliness of the staff. Manyhotel managers thus invest substantial amounts of en-ergy to attract and retain prospective staff memberswho are able to exhibit this essential trait. In fact, somehotels focus on this attribute so much that they actuallycount the number of times the staff applicant smiles dur-ing the interview.

In addition to a friendly disposition, hotel staff must be professional at all times. Their uniforms must be neat andclean as the first impression often determines whether the customers will come again. Hotel staff must possessstrong and professional communication skills, especially when answering telephone calls. They should also be well-versed in the details of the hotel, such as the hotels’ room rates, room availability, and special discounts.

Finally, hotel staff must have a degree of flexibility, versatility, and patience, especially when dealing with the manydemands of the hotel guests. For instance, there are several times during the year when guests are somewhatstressed due to various circumstances, such as tax season and the holiday season. However, regardless of the cus-tomer’s actions, hotel staff should respond with patience and a smile.

NATURE OF THE WORKNontraditional and long working hours are a normal part of this career. Because customers have demands thatneed to be met around the clock, hotel managers often work during the nights and weekends. Likewise, residenthotel managers, who actually reside in the hotels, also work long hours. However, their job differs in that they lacka set schedule and are on-call at all times.

Unpredictability is another characteristic of this profession. Hotel staff should be prepared to handle various ob-scure scenarios that may come up abruptly, including credit card failures and guest lock-outs. Whatever the sce-nario may be, hotel staff must display a sense of professionalism and patience at all times.



PREPARATION

Because competition is fairly stiff, it is nearly a prerequisite to obtain a degree in hotel or hospitality management. Forthe universities that do offer a degree in hotel management, they typically offer a Bachelor of Science degree in hoteladministration. Some schools might even have their own school in hotel management, such as Cornell’s School of HotelAdministration and UNLV’s Harrah Hotel College. If cost is an issue, or if you want to test the waters, there are schoolsthat also offer two-year Associate degrees in hospitality. However, if you are set on this field and want to work at thevery top hotels, it would be highly beneficial to obtain a Master’s degree in hotel administration.

A liberal arts degree is also acceptable if one has some prior work experience in a hotel or resort. Although there is noparticular liberal arts degree that provides a distinct edge, majors such as economics or global studies are good choicesbecause they have some relationship to the profession. In regards to work experience, many hotel chains around thenation offer various summer internship programs. Westin Hotels and Resorts, for instance, offers a summer as well as awinter internship program for students enrolled in a hospitality major.

Two colleges that excel in this field are Cornell University and UNLV. They stand out among the rest because they bothhave dedicated hotel schools that specialize in this curriculum. While most other universities offer degrees for hoteladministration under the business administration, Cornell and UNLV provides students with more choices. UNLV forinstance, offers degrees in beverage management, food service management, and hospitality, all of which fall under

their Bachelor of Science in hotel administration.

When choosing a program, it isimportant to find one that offersa diverse curriculum in variousmanagement topics such as busi-ness management, accounting,and marketing. Interested appli-cants should also make a per-sonal visit to the school in orderto get a feel for the culture andenvironment of the school. Stu-dents should also consider fac-tors such as location. For in-stance, although Cornell isranked higher than UNLV in ho-tel management, UNLV is locatedright in Las Vegas, which is hometo some of the finest hotels inthe nation.

JOB OUTLOOK

Job growth appears average in comparison to other professions. The U.S. Bureau of Labor Statistics (BLS) estimategrowth to be around 12 percent from 2006 to 2016. This is because most job vacancies in this field will be the result of hotel managers transferring to other occupations or retiring. However, job growth will increase as more businessesexpand overseas and more people increase their recreational travel. For instance, 600 new hotels opened in 2007, in-creasing the demand for more hotel managers. It is also important to note that managerial jobs in this industry will bemuch slower than those of the industry as a whole. There is a general trend of consolidation as privately- owned hotelsare being bought out by larger hotel chains, which decrease the need for managers.

Different Types of Hotel Management Positions

General Managers Responsible for overseeing all operations within ahotel

Executive Housekeepers Make sure that all the rooms in the hotel are main-tained and clean; also oversee the housekeeping

staff

Convention ServicesManagers

Work with client companies to make arrange-ments scheduling conference rooms for their con-

ventions, special events, and conferences

Front Office Managers Responsible for the front desk; check in customers,

assign rooms, and make reservation s

Assistant Managers Assist the General Managers in their day-to-dayoperations



GAMING-BASED TOURISM

By Eric ParkStaff Writer

Las Vegas, Atlantic City, Macau, and Monaco are all cities that are regarded as popular tourist hotspots. The cities luremillions of visitors annually and generate enormous streams of revenue. What distinguishes these cities is that their

tourism is primarily based on legalized gaming or gamblingWhile many tourists plan trips to these locations solely for thispurpose, their total expenditures provide tremendous reve-nues not only for the casinos but for the entire local economiesas well.

GAMING REVENUES

The American Gaming Association defines Gross GamblinRevenue as “the amount wagered minus the winnings returnedto players.” This is a measure of gross revenue that a gamblingbased business earns before salaries, taxes, and other expensesare paid. According to the American Gaming Association, from1997-2007, the total GGR in the U.S. has climbed from $50.billion to $92.3 billion. While these statistics shows that thelegalized gaming industry is thriving in the United States, inter-national gaming cities have grown tremendously as well.

THE BUSINESS OF



In 2006, Macau officially overtook Las Vegas as the world’s most profitable gaming capital by bringing in $6.95 billioin comparison to Las Vegas’ revenue of $6.5-6.6 billion. Gaming revenues benefit local economies because they allowcasinos to raise local employment rates by hiring more local workers. States also benefit from tourism spendingthrough the taxes levied on these revenues. For example, the state of Colorado received $115.41 million in revenuefrom its 45 casinos and spent it to improve local communities, historic preservations, and general funds such as infra-structure and education.

HOTELS AND HOSPITALITYAccording to studies from the University of Las Vegas, the estimated number of visitors to Las Vegas in 2007 was approximately 39.2 million while the official Atlantic City website boasts that it has over 30 million annually as well. Manof these visitors seek housing during their trips and provide the local housing and hospitality businesses in these areaswith tremendous numbers of potential customers. In 2007, Las Vegas tourists were responsible for booking and occu-pying approximately 44 million room nights at an average cost rate of $132.09 per night..

These hotels exist in numerous varieties. There are Spartan rooms for the thrifty traveler, and other rooms that haveluxuries such as private bowling alleys and personal assistants that can cost more than $25,000 per night. Many pro-spective casino owners and investors choose to create massive casinos within their hotels in an effort to collect bothgaming and hotel revenues from tourists. Many of these casinos will compete with other hotels by offering rewardssuch as gaming credits and discounts on other entertainment and attractions, in efforts to build brand loyalty with cus-tomers and to maximize revenues.



OTHER FORMS OF TOURIST REVENUE

Gaming cities throughout the world are renowned not only for their gambling but for their individual tourists attrac-tions as well. Scattered throughout the casinos and surrounding areas are numerous restaurants, bars, night clubs,shows, and various other types of entertainment. The tourism brought in by gaming expands to other industries inthese cities. Food and beverage and attractions from consumer expenditures bring in high revenues for the cities’other businesses. In 2006, the top 17 casinos in Las Vegas earned 26.9% of their combined $1.2 billion revenuesthrough food and beverage sales and other consumer ex-penditures.

Each major gaming city boasts myriad other attractions. LasVegas has hosted many famous performers and shows suchas Frank Sinatra, Cirque du Soleil, and David Copperfield.Monaco is home to many historical sites such as the Prin-cess Grace Rose garden, the Monte Carlo Opera House, andthe Church of St. Charles. Just about every business,whether it is a theater, restaurant, or simple souvenir shop,benefits from the tourism brought in by casinos and gaming.

CONCLUSION

Gambling is always in high demand with consumers and its revenues support many casinos and cities throughout theworld. Gaming-based tourism seems to be a lasting and permanent business, because of the revenues and economicstimulation it brings to its residents. The positive effects extend beyond the reach of simple casino revenue, as thetourism it brings in is vital to the success of many cities, states, and countries.



SPOTLIGHT ON A HOSPITALITY SCHOOL:

LAUSSANE

HOTEL SCHOOL~ École hôtelière de Lausanne ~

By Shannon KungSenior Staff Writer

Switzerland is known for its secretive and highly exclusive Swiss banks, which cater to the wealthy elite. Aside frombeing known for its crème de la crème banks, Switzerland also boasts some of the best hospitality schools. In a studyon hospitality management done in 2007 by Taylor Nelson Sofres Travel & Tourism, the largest custom research andanalysis firm, Swiss hotel schools took the top three spots. To take such a prominent role in the $61 billion hospitalityindustry is no small feat.

This Swiss dominance in top hospitalityschools began in the Belle Époque, a veritablegolden age for the upper echelon of Europeansociety during the late 19 th century. The BelleÉpoque was a time of excess and new techno-logical advancements, where peace prevailedand haute couture was invented in Paris.Switzerland experienced an extraordinaryboom in tourism around this time, promptinga demand for skilled personnel in the hospital-ity industry. This urgent need prompted thecreation of the first hotel school in the world,the École hôtelière de Lausanne, or the EHL. The École hôtelière de Lausanne is considered

not only the first but also the best hospitalityschool by many. It is ranked at number one inthe survey conducted by Taylor Nelson Sofresand has both history and prestige on its side.Graduates from EHL can be seen working inmany of the senior positions at large, interna-tional chains such as Ritz-Carlton, Four Sea-sons, and the Hyatt, as well as more independ-ent hotels such as the Venetian Macau.



Located in Lausanne, Switzerland, the École hôtelière de Lausanne not only focuses on the science or business aspectof management, but the art aspect of management as well, focusing on creativity and innovation. Students takecourses such as “Wine Knowledge and Cellar Management” or “Gastronomy and History of Taste” to satisfy the art ofhospitality side. The science of hospitality requirement can be fulfilled by completing classes such as “E-Commerce andTechnology” or “Competitive Strategy.” An international school, the École hôtelière de Lausanne boasts alumni frommore than 100 different countries, and connects the students with industry specialists. Known for their intensely loyalalumni, the EHL connects students with graduates working in both developing and industrialized countries. The schooloffers three different programs: a Bachelor, a Diploma, and a Master’s.

The Bachelor program is a 4 year path that a candi-date can either complete in English or in French, asLausanne is located in the French-speaking part of Switzerland. The program is structured so that in thefirst year, labeled the preparatory year, studentslearn the fundamentals of hospitality through an in-dustry work at the school. Students work in all as-pects of the school’s restaurants, bars, quarters, etc.in addition to taking courses that mirror the intern-ships. The first year is then followed by a 16 weekinternship, either in Switzerland or abroad. In thesecond year, study focuses more on the core busi-ness skills such as accounting and statistics ,as wellas human resource management. The third year of the program looks at adding value to the hospitalitycompany, concentrating on not only making opera-tions more efficient, but also how to maximize cus-tomer satisfaction through classes focusing on topics

such as accommodation management as well as fi-nance. This is then followed by a 20 week industryinternship at a more managerial level. The fourthand final year is spent looking at strategic innova-tion, culminating in a Student Business Project, a Stu-dent Entrepreneurship Project, or a Student Research Project. The Student Research Project involves working in a con-sulting-type position for a company interested in planning and implementing a new hospitality concept or product.The Student Entrepreneurship Project connects students with alumni or current staff to who are looking to launch anew company. Students are given the opportunity to draw up new business plans or adapt existing ones. Lastly, theStudent Research Project integrates students directly into relevant research projects about finance, marketing, or hu-man resources.

Bachelor Diploma Master Duration 4 years 2 years 14 months

Final Project Student Business Project,Student Entrepreneurship

Project, or StudentResearch Project

Creative BusinessProject

none

Internships 2 2 0 Average Age 19.5 24 28



The Diploma program is a two-year course designed for profes-sionals with at least a year of hospitality experience under theirbelts. It is a short but intensive program that is split into fourterms. Similar to the Bachelor program, the first term is spentlearning the operations of a hotel by allowing students to work inall aspects of the hotel through rotational shifts. This hands-onexperience is supplemented with basic course on architecture,

housekeeping and culture. The second term is a 6 month in-company experience in Switzerland. The third term focusesmore on leadership and supervision at the management level.The fourth term is another in-company experience, although thisone is at a more administrative level. Later, after the second in-company experience, students are asked to present a detailedanalysis about a task or problem that will be presented to theEHL. The program concludes with a creative business projectthat is mentored by professors as well as professionals in thefield. This project is completed over the course of the programand involves writing a business plan that includes weighing risks

and defining objectives as well.

The Master’s program is the shortest of the three at 14months and is geared more for those looking for a ca-reer change. Lausanne’s Master of Hospitality Admini-stration is similar to an MBA-style degree and requires afull-time commitment. The program is set up so thatthere are six weeks of pre-course work, titled FinancialBusiness Metrics, which ensures that each student hassufficient quantitative skills before arriving on campus.The rest of the program is split into two modules thatfocus on administration and leadership at a higher level,incorporating strategy and techniques. The first moduledelves into the art and science of management, whilethe second looks at legal strategies, real estate valua-tion, and more. The program also allows students toattend a series of talks given by distinguished leaders of the hospitality industry, as well as to take class excur-sions to different hospitality and service companies inorder to study company culture and operational per-

spectives. These class excursions are not only limited toSwitzerland, as, in the past, students have visited Paris,Dubai, and London, to name a few.

Interested in learning more about the École hôtelière de Lausanne?Visit their website at http://www.ehl.edu for admissions details and industry insight.



By Jaeman KimStaff Writer

The International Lease Finance Corporation, also known as ILFC, is an aircraft lessor (they rent out airplanesheadquartered in Los Angeles, California. The company is currently the largest aircraft lessor by value, boasting an

inventory of more than 1000 planes. Its customers include Air Canada, American Airlines, Delta Airlines, and other largairline companies.

A company like ILFC sounds like it would have a strong financial standing considering how successful the business habeen since its inception in 1973, but in the last year, the company is in serious jeopardy thanks to the economicpressures that many other companies are currently facing. However, the problem is not that ILFC’s business model hasfailed. Rather, the problem is that ILFC is owned by American International Group (AIG), the very same AIG that harecently received billions of dollars in bailouts.

Father and son team Leslie Gonda and Louis L. Gonda founded ILFC in 1973 along with Steven F. Udvar-Hazy. Then1990, AIG bought the company for $1.3 billion. Until 2008, ILFC continued to post record profits year after year. In 200ILFC earned revenues of $4.73 billion and income of $604 million. However, the international economic crisis broughproblems for ILFC. The problem is that AIG’s credit rating is also ILFC’s credit rating, since the former owns the lattBefore the current economic crisis, AIG’s AAA credit rating gave ILFC access to funds at rates that other lessors counot possibly obtain. However, as AIG’s credit fell,so did ILFC’s. A lower credit rating means that itbecomes much more expensive to borrow money,since a lower rating means higher risk. ThereforeILFC’s costs of operations began to soar. Then bylate last year, word came out that ILFC was lookingfor a new buyer, perhaps even current CEO andcompany founder Udvar-Hazy. However, to thisday, it does not seem that there are any potential

buyers.

Potential buyers are holding back due to severalfactors. First, there is the fact that ILFC’s amount of debt has risen significantly, mainly due to the risingcosts of operations. In January 2008, ILFC’s interest rate on its debt was 3.85%. However, that number has risen to8.4% as of September 2008. It also has 48 aircrafts that it must pay for this year.

Another problem that a potential buyer would face is ILFC’s unsecured debt, or debt that is not tied to any property. Itis currently backed by AIG. However, if the company were to change hands from AIG to another owner, this debt wouldbe re-priced by the holders of the debt, forcing ILFC to pay even more interest than it already is.

The current problems that ILFC faces are also having an effect on other companies, mainly Boeing and Airbus. ILFCone of Boeing and Airbus’ biggest customers. In fact, many of the decisions that the airplane manufacturers make alsogo through Udvar-Hazy. Rising interest rates will cause the prices that ILFC pays for planes to rise, and may evenpossibly lead to order cancellations. That, along with possible cancellations from other lessor companies, could meandisaster. Still, there are countless other companies that will suffer, including airlines, airline maintenance companies,engine manufacturers, and parts suppliers.

Udvar-Hazy has stated that ILFC is currently seeking to refinance billions of dollars in short-term debt and a failure tocome up with cash to finance its short-term operation may threaten its survival. Refinancing may include lower interestrates, or possibly a different schedule to pay the money back. However, with no potential buyers, it remains to be seenwhether ILFC will be able to come up with the cash that it needs.

INTERNATIONAL LEASE FINAN

ILFC CEO, Steven F. Udvar-Hazy



By Dmitry ShusterStaff Writer

As summer approaches, many people are planning various trips and vacations. In this type of economy, it behoovesus to save as much money as possible while still embarking on rather memorable and enjoyable trips. Fortunately, itis not difficult to take a pleasurable trip or vacation without breaking the bank. Here are several travel tips that canbenefit your travel experience without making your wallet too angry.

1. Research airfares and hotel ratesMake sure to compare airline tickets and hotel rates through variouswebsites such as Expedia, Travelocity, Yahoo! Travel, CheapTickets,and Priceline. Kayak.com is a very useful website which searches over150 sources, saving you lots of time. Often you can find combinationsof airline flights and hotels that can save a bundle. Also, be sure tocheck with your local travel agent, as he or she can purchase manyairline tickets at wholesale prices which are hundreds of dollars less expensive than prices that are quoted online.

2. Book in advance (nothing e

capitalized this way)Airlines often release cheap tickets approximately four months in ad-vance of the actual flight date. Thus, it is wise to start planning the tripin advance, rather than having to book everything in a panic close tothe departure date. For instance, book a winter ski getaway in thesummer. Many thrift-conscious travelers begin to plan their trips wellin advance. This consists of comparing airfare and hotel prices, plan-ning out trip routes and destinations, and making sure that all of thenecessary arrangements are made.

3. Travel in the off-seasonMany tourist destinations have ‘hot seasons’ when tourism is at its highest point. Usually, hotel rates and airline tick-ets are most expensive during these periods. Tickets for international flights, for example, can be hundreds of dollarsmore expensive during the summer months relative to other times of the year. If your schedule permits, it may bewise to travel during off-peak times when prices are noticeably cheaper. Why not take a cruise in the summer or visitEurope in the fall? If traveling to winter destinations, you can often find deals for the weeks before and after peakseason because hotels and travel vendors are looking to boost business. “Shoulder season” – the period between thelow and high season – offers savings opportunities as well. Mexico is delightful in late spring, rather than typical win-tertime, and airfares are more affordable. On the other hand, deals are scarce for air travel over the end-of-year holi-days (Thanksgiving, Christmas and New Year’s Day), Because demand is so high.

TENTENTENTENMONEY-SAV

travel tip



4. If you cannot fly, stay clohomeMany airlines still have high ticket prices, so it may be moreadvantageous to travel to destinations that are within drivingdistance. Globe Pequot Press publishes guides in Day Trips andQuick Escapes series which contain numerous ideas for itiner-aries and trips in local cities.

5. Consider staying at hostelsIt may not sound attractive at first, but hostelling is one of theeasiest ways to save money. Hostels around the world providedorm-style rooms for $15 to $40 per night. Many of them alsooffer private rooms for families and couples. Amenities mayvary, but more often than not, hostels offer communal kitch-ens and laundries, television and internet access. Hostels.comis a good place to start your search of 20,000+ hostels world-wide.

6. How about Mom-and-Popoperations?If you are considering shorter trips, try staying at a local bed-and-breakfast or inn rather than a large hotel. These mom-and-pop places are often providing discounts to fill vacancies andmay provide a more relaxed setting than a large metropolishotel. Visit bedandbreakfast.com to find weekly deals and dis-counts on great bed-and-breakfast getaways.

7. Couch surfing You may or may not have heard of this particular term. It hasbeen gaining popularity as of late, and refers to the world’slargest hospitality exchange network. Through the website,www.couchsurfing.com, you are able to connect with over 1million members in 232 countries and territories, all of whomare willing to accommodate you free of charge . The exchangeis entirely voluntary and you can work out the details of yourtrip in advance with your host. The entire purpose of this or-ganization is to immerse yourself in the local culture while be-ing accommodated by a local resident at his or her dwelling.



8. Join frequent flier programsYou may think that it is practically impossible to earnfree trips, but on the contrary, it is quite simple and of no cost to you. Whether you travel rarely or fre-quently, it is still beneficial to join a frequent flier pro-gram. Nearly all airlines offer these types of programsand you begin collecting reward miles on your veryfirst flight. Each time you fly, remember to give themyour membership card, and you willcontinue to earn miles which you canthen redeem for free flights, merchan-dise, hotel stays, and more. Web-Flyer.com is a good website for fre-quent fliers as it allows you to com-pare various programs and get thebest upgrade for the miles you’veearned.

9. Dining opportunitiesFood can be especially expensive in many places. Manytourists often limit the number of meals that they eat ata restaurant to one per day. It is also a good idea to pur-chase snacks (such as fruits, vegetables, sandwiches)that can be taken back to the hotel and eaten there. An-other great way to stretch your budget is to eat break-fast at the hotel. Many hotels offer continental or buffetbreakfasts with your accommodations and it is certainly

in your best interest to take advantage of this conven-ience rather than going out in search of breakfast.

10. Exchange rates matterExchange rates can be the difference between getting agreat bargain and losing your money. Many exchange cen-ters have very bad exchange rates, so do not use them; in-stead, search the internet to find out good places to get cashin the local currency. It is also often advantageous to use adebit card, rather than U.S. dollars or traveler’s checks. You

will get the best interbank exchange rate when buying for-eign currency with either ATM cards or credit cards, whichwill usually be 2 to 7 percent lower than the rates you wouldotherwise get when exchanging cash or traveler's checks. Tryto use credit cards whenever possible for large purchasessuch as hotel bills, tickets and car rentals, but keep in mindthat most credit card companies do add small fees for transactions made in foreign currencies.



By Stefanie JuStaff Writer

Traveling to foreign countries,or even within the United States, has always been a popular pastime, especially foryoung college students who are not yet tied down by full-time careers. College is one of the prime times to travel—whether it be with student groups, tours, or a type of work study or study abroad program. Many students choose toparticipate in these programs during their 4 years in college, spending entire semesters or years abroad in such coun-tries as Greece, Spain, or the United Kingdom, all the while completing units toward their degree. There is a certainappeal to studying in a foreign country—it so perfectly combines the travel and exploration aspects that many youngpeople thirst for, but at the same time allow students to stay reasonably within graduation and unit deadlines. Today,many universities have created large study abroad programs.

BENEFITS OF STUDYING ABROAD Studying abroad helps facilitate personal growth; it is an eye-opening and enriching adventure in which students canlearn beyond the classroom walls. Not only do students take classes with foreign professors (and are thus exposed tovery different ways of thinking), but they also explore the culture that a region has to offer. Students who return fromtheir travel study programs usually find that their experiences have matured them both intellectually and personally.Learning about another country’s people, customs, and language allows students to see beyond the scope of their uni-versity’s bubble, and helps them gain a general appreciation for the human race. Living in another country also helpsstudents understand different perspectives in international politicaland economic issues.

The costs of travel study programs vary by the type of program and

location in which the student is interested. If students choose tostudy through a program that UCLA offers, then tuition fees will bethe same amount that they currently pay. However, based on whata host university charges for room and board, overall fees can fluc-tuate greatly depending on the program. In the end, the UCLA Inter-national Education Office (IEO) has tried to make each program asaffordable as possible.

STUDY ABROAD VS. TRAVEL STUDY Many students are overwhelmed by the number of programs thatuniversities now offer. Study abroad and travel study programs gen-

erally facilitate student learning and offer units towards a degree aswell. Travel study programs usually concentrate on learning abouttopics specific to an area in which students are studying. For exam-ple, UCLA is offering Asian American Studies in Hawaii and Ger-manic History and Culture in Vienna and Munich. In travel studyprograms, students are choosing to live within the culture that they are studying, observing historical and cultural im-plications and applying what they learn to the atmosphere around them. Study abroad programs are more general. Inthese programs, students choose to live abroad (usually in dormitory-like settings) in a host university while simultane-ously taking regular classes that a university offers the general student population. These classes are usually less fo-cused on a region’s culture or history, and are more geared towards fulfilling a student’s major or minor requirements.

TRAVELING WHILE EARNING UNITS, TOO!

STUDYING ABROAD:



The most significant difference between travel study and study abroad programs is the emphasis on the type of mate-rial that students will be studying. Travel study programs provide an in-depth focus on the specific region that studentsare studying in, while study abroad programs lack an underlying theme in the types of classes that students can take;they can choose from any of the classes that the host university is offering.

CHOOSING A PROGRAM AT UCLAUCLA offers a wide range of travel study and study abroad programs offered through the IEO. There are programs of-

fered during every quarter of the year; however, many host universities abroad only offer programs during certainquarters, so it is important to check with the international education office about dates and programs.

UCLA offers many travel study options, including programs in Archaeology, Global Studies, International Business Laand Political Science. These programs allow students a much more specific cultural concentration in their studies. UCLAalso offers a large array of study abroad programs through the Education Abroad Program (EAP). Through EAP, the Unversity of California system offers over 140 exchange programs in more than 30 countries. Within the EAP’s studyabroad programs, students also get the choice of studying in immersion, UC Construct or International School pro-grams. Students in immersion programs enroll directly in a host university in a foreign country and take courses along-side regular, degree-seeking students. Students who choose tostudy in UC Construct programs take courses developed by theUniversity of California with other UC students only. Interna-tional School Program students take courses with other studyabroad students from around the world, but generally not withother students from the host country.

In order to learn more about UCLA’s options, students can visitthe International Education Office in Murphy Hall. The IEO alsoputs on study abroad fairs in order to help students learn moreabout individual programs, and holds workshops and informa-tion sessions to help guide students through the selection andapplication process.

Deadlines for study abroad and travel study programs for FallQuarter of the 2009-2010 school year have already passed. How-ever, applications for Spring Quarter are still open, so studentswho wish to participate should explore it as soon as possible.

HOW TO APPLY? In order to apply for any of the previously mentioned programs,or learn about other programs that UCLA offers its students, it isimportant to visit the International Education Office. It suppliesstudents with pamphlets detailing dates of programs and application deadlines, and arms students with information

about specific programs that may interest them. Applications differ from program to program, but many can be com-pleted online, with a hard copy turned into the IEO and later forwarded to host universities.

If students cannot find what they need from any of the programs that UCLA offers, they can also directly apply to a for-eign university at which they would like to study. However, it is a student’s responsibility to keep track of how his orher own units transfer into credits towards a degree once they return to UCLA. Some students enjoy the flexibility of finding their own programs separate from the UC office.



By Julie ChenStaff Writer

WHAT IS ECOTOURISM?

In an attempt to lessen the adverse side ef-fects of conventional tourism, more environ-mentally and socially conscientious modes oftourism have been promoted, usually re-

ferred to as ecotourism and sustainable tour-ism, though it may also been known as re-sponsible tourism, nature- based tourism,green tourism, or alternative tourism. Gener-ally speaking, ecotourism focuses on personalgrowth, volunteering, and learning better

ways to live on our vulnerable planet. The International Ecotourism Society (TIES) describes ecotourism as “responsibletravel to natural areas that conserves the environment and improves the well-being of local people,” and it defines sus-tainable travel as “tourism that meets the needs of present tourist and host regions while protecting and enhancingopportunities for the future.” Ecotourism usually involves traveling to protected areas, in order to benefit the eco-nomic development and political empowerment of local communities. Tour guides in many eco-destinations aretrained to communicate environmental awareness. Ecotourism not only reminds us how much we impact the world,but also allows us to better appreciate our own natural habitats. Tourists are encouraged to build meaningful connec-tions with local people to cultivate respect for different cultures; responsible ecotourism includes programs that en-hance the cultural integrity of local people. Initiatives by groups in the hospitality sector promote recycling, energy effi-ciency, water reduction, and the creation of economic opportunities for local communities.

ECOTOURISM AS A BUSINESS

According to the World Tourism Organization, ecot-ourism is seen as one of the fastest growing mar-kets in the tourism business. With an annualgrowth rate of 5% worldwide, ecotourism repre-

sents 6% of the world gross domestic product and11.4% of all consumer spending. The travel industryhas joined forces with various environmental or-ganizations and park agencies to sponsor naturetravel as the trendiest activity to partake in that stillbenefits the environment. Nature-based tourism ispromoted by the travel industry as a distinctive opportunity to see and experience natural environments and local cus-toms in ways not offered to participants in mass tourism. Some companies, such as Intrepid Travel, Frontier, and Ma-rine Conservation Society, specialize in ecotourism by designing their trips to be environmentally, culturally and sociallyfriendly. This form of tourism is especially important to developing countries, as tourism is the principal export for 83%of developing countries, and the leading export for a third of the world’s poorest countries. Businesses are creating

TRAVELING TO SAVE THE WORLDECOTOURISM



camps and eco-lodges in these underdeveloped nations, while natural resource managers are designing trails andtours. Tourism is changing rapidly as it is required to meet stricter environmental requirements. This presents a chal-lenge to the government and private businesses to create new approaches to the tourism market. Businesses aim toget people to enjoy and learn about the natural, historical, and cultural characteristics of unique environments, whilepreserving the integrity of those sites. However, strategies must be economically feasible if private investors are tosupport the projects.

ECOTOURISM AND THE RECESSION

Though ecotourism has grown rapidly over the past decade, the global economic crisis is expected to slow internationaltravel this year, especially for nature enthusiasts. International tourism began to slow in June of 2008. This year, theWorld Tourism Organization (WTO) estimates that the rate of cross-border visits will remain steady or decline 2%.Globally, businessesare cutting theirtravel budgets,meaning that expen-sive eco-consciousdestinations may bebypassed. If the re-

cession forces tour-ism businesses to layoff workers, ecotour-ism industries are not likely to supply renewed employment opportunities, due to the decline in global demand for thecommodities. Less than 20% of companies rated environmentally friendly travel as a high priority in a survey conductedby the Association of Corporate Travel Executives and KDS, a European business consultancy. The idea that sustainabletourism could sustain economic growth during the recession was promoted during the first meeting of the WTO's re-cently formed Tourism Resilience Committee in January. Tourism ministers compelled countries to include ecotourismin their economic stimulus packages, in order to offer wider support for “green jobs.”

Top 5 Destinations for Ecotourism 1. Palau: Recognized as one of the world’s most prominent diving destinations, this underwater wonderland featuresmore than 500 species of coral and 1,400 kinds of fish. Palau’s remote location in the westernmost corner of Micro-nesia has helped to guard both its natural resources and its cultural traditions from the destructive effects of masstourism.

2. Norwegian Fjords: The strict environmental regulations of Norway have helped protect the pristine beauty of theirsnowcapped mountains and tumbling waterfalls. Along with the region’s natural attractions, the fjords are also hometo several small fishing villages where local traditions have survived for hundreds of years.

3. Kerala, India: Often referred to as “God’s Own Country,” this small state on India’s southwestern coast is home to

hundreds of unique animal species, including elephants, bison, wild boar, and the endangered nilgiri tahr. The lushvirgin forests and clean sandy beaches are carefully protected by the local population.

4. Costa Rica: With misty cloud forests, black sand beaches, and rushing river rapids, Costa Rica offers many outdooractivities for both nature enthusiasts and hardcore adventurers. A wide variety of creatures live in Costa Rica’s na-tional parks and wildlife refuges, including monkeys, manatees, sea turtles, sloths and poison dart frogs.

5. Kenya: Best known for the lions and elephants that populate its wide savannas, Kenya is also home to mountains,lakes, rainforests, deserts and beaches. Its incredible natural diversity is protected in about 50 national parks and re-serves across the country All tourism is overseen by Ecotourism Kenya which protects the local environment through

bbr volume 2 issue 9

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