The Importance of Hotels and Accommodation in Promoting Tourism

In the modern times, the way people spend their vacations has undergone a great change. People like to spend good times with family and friend while at the same time exploring various tourist places across the globe. As a result the tourism industry across the globe has seen an unprecedented growth which in turn has also resulted in tremendous growth in the hotel and accommodation facilities.

Comfortable hotels and accommodation facilities play a very important role in popularizing any tourist destination. If a person, who is quite far away from home, gets to enjoy the same facilities and comforts as he enjoys at his home, then he is bound to become attached to the place. On the other hand if the tourist ends up at a place where the hotels and accommodation facilities are not satisfactory, it is quite likely that he might never return to that place.

Perhaps that is why, hotels and accommodation facilities being made available at different tourists spots, have shifted focus on providing maximum comfort to tourists at reasonable rates. It is also vital to provide comfortable accommodation to people from diverse economical backgrounds. While five star hotels can cater to the needs of affluent visitors, small and medium range hotels and lodging houses are available for use by a middle class traveler.

Blog reviews are also vital that information about all the hotels and accommodation facilities available in a particular tourism spot is available to people quite easily. For this there can be no better option than internet, as most tourist gain information about the hotels and accommodation facilities through this medium only. The other ways are by making booklets containing information about the hotels and accommodation facilities available at train and bus stations.

The information provided to the tourists should be detailed and correct. It should contain the information related to room rentals, types of rooms, catering services, check out times, pick and drop facilities etc. Additional information about the significant tourist spots in the area can also be provided both on the net as well as the booklets, to promote not only the hotel but the tourist spot as well.

Special Education Acronyms – What Do All Those Letters Mean?

Do you sometimes wonder what some of the Acronyms in special education mean? Do the acronyms make your head spin? This article will discuss common special education acronyms and what they mean. This will make it easier for you to actively participate in your child with disabilities education.

1. FAPE: stands for Free Appropriate Public Education. Each child has the right under IDEA to receive a free appropriate public education.

2. IDEA: stands for the Individuals with Disabilities Education Act; which is the federal law that applies to special education.

3. IDEA 2004: This is the federal law that was reauthorized in 2004. If you see this in an article, it usually means that something was changed in IDEA, by the reauthorization in 2004.

4. LEA: stands for the local educational agency, which is your local school district.

5. SEA: stands for the state educational agency, which is your states board of education.

6. IEP: stands for the Individual Educational Plan, which must be developed for every child that receives special education services.

7. LRE: stands for Least Restrictive Environment. LRE means that children with disabilities need to be educated in the least restrictive environment, in which they can learn. LRE starts at the regular classroom, and becomes more restrictive.

8. NCLB: stands for the No Child Left Behind Act.

9. IEE’s: stands for an Independent Educational Evaluation. These are initiated and paid for by parents, to help determine their child’s disability or educational needs.

10. IEE’s at Public Expense: stands for an IEE where the school district pays for it. There are rules that apply to this, that you must learn before requesting an IEE at public expense. Many special education personnel try and do things that are not allowed under IDEA, so you need to educate yourself.

11. ASD: stands for Autism Spectrum Disorder, which some school districts use in their paperwork.

12. ADD: stands for Attention Deficit Disorder.

13. ADHD: stands for Attention Deficit Hyperactivity Disorder.

14. PWN: stands for Prior Written Notice. Parents must be given PWN when the school district wants to change things in the child’s IEP. (such as eligibility, change services, refuse to change services etc.).

15. ABA: stands for Applied Behavioral Analysis that is an educational treatment for Autism.

16. SID: stands for Sensory Integration Disorder. A lot of children with Autism have difficulty with sensory integration.

17. SPD: stands for Sensory Processing Disorder which is the same as above, but some people in the special education field, call it different names.

By understanding the acronyms used by special education personnel, you can be a better advocate for an appropriate education for your child.

Successful Investing – Helping Investors Avoid Common Investment Mistakes

The Top Mistakes made by Investors

In my dozen plus years of advising individuals and businesses I have found a number of common mistakes that have derailed even the best laid financial plans. I thought by sharing them I might be able to help others sidestep the pitfalls and the negative impact they can have on your portfolio and long-term financial plans.

1. Failing to establish a time horizon and investing accordingly -

If you have expenses that need to be funded in 3 years or less, you should not be investing the cash for them in the stock market or other risky investments. These monies should be carved out of your investment portfolio (the money earmarked for long-term investing) and invested appropriately in liquid assets such as money market funds or term-certain fixed income offerings. If the money is not going to be needed for 3 years or more, an investment plan should be established based upon specific a time horizon and risk tolerance for these funds.

2. Failing to thoroughly diversify your portfolio -

Many investors know about the concept of diversification and think that by owning different investments, they are diversified. Diversification of an investment portfolio makes good sense on an intuitive level. However, it wasn’t until Harry Markowitz published his model of portfolio selection that this concept became a formalized part of sound investment practice and formed the basis of today’s Modern Portfolio Theory. Beyond this basic concept of diversification, the key to Markowitz’s premise is the revelation that the risk of any investment can be reduced and/or performance increased by forming a portfolio of diverse and non-correlated assets. That is, it is important not just to seek a diversity of asset types, but also to seek assets that have low or near-zero correlations to one another. It’s not about owning different investments; it’s about owning different, non-correlated investments.

3. Letting potential tax implications rule your investment decisions –

Many investors delay selling an investment that has done well regardless of how good or bad the future looks for the holding. Their response is, “I will have to pay taxes if I sell.” By not selling, they set themselves up for not having to pay taxes at all – usually because the investment starts on a decline and their concern switches from “having to pay taxes” to one of “hoping for a turnaround.” Don’t be afraid to take some profits off the table. While taxes are an unpleasant result of investing, I prefer to look at them as a positive sign as it indicates you are making money and your investment plan is working.

4. Buying a stock based upon a “hot tip” -

Too many investors listen to a friend’s advice because he or she always seems to have the next “great” money making idea. They don’t take the time to assess the idea personally and jump in because it’s only a few thousand dollars they are investing. Unfortunately this is not investing – it’s gambling. If you want to gamble, go to Vegas and at least get free drinks, dinner, a show and a room for the risks you are taking. Any investment that is being considered for your portfolio should be thoroughly researched and have passed a comprehensive financial screening scrutiny.

5. Attempting to time the market -

Waiting an extra day, week, or month to try and buy in at the “right price” just doesn’t work. No one can predict the future. If they could they most likely wouldn’t be sharing this knowledge with you for free. Successful investors use time, patience and a disciplined approach to increase the likelihood of maximizing their investment returns – not trying to time the market. If you have done the research and the investment is sound and meets your criteria then buy it, regardless of timing.

6. Failing to regularly reevaluate your investments -

Over time all investment styles, strategies and types fall out of favor. So, like timing the market, it becomes virtually impossible to know what is going to be “hot” in the next bull market and what isn’t. For this reason it is always prudent to stay up-to-date on your investments to insure they are still the same investment that you originally purchased (segment drift and manager changes can be one reason they may have changed). If your investments consist solely of mutual funds then an annual review is a good place to start.

7. Basing investment decisions on emotion -

Maybe the stock market is going through a bad time because of a short-term geo-political or economic event. Stay calm and make an educated, well thought out decisions about what, if anything, to do. Assess whether the event will affect the economy long-term or if it’s just a short-term blip. The best move is often no move at all. If it is a short term incident, many times the smart, prudent investor will make additional investments because the current decline provides them with an excellent buying opportunity. The key to successful investing is to have a disciplined strategy and to stick with it.

8. Cashing out gains and dividends rather than reinvesting -

Once you’ve realized gains or had distributions and dividends paid out, insure they are reinvested back into your portfolio. If you pull out your capital gains, dividends and interest, your money won’t compound as quickly, thereby leaving you with a smaller chunk of change down the line. Letting your investments compound is one of the major tenets of successful investing.

9. Owning too much employer stock -

Many people get over-weighted in employer stock because of options and stock purchase plans made available in today’s competitive compensation packages. While these are great supplements to their annual salary they can put an employee in a position of having too much money invested in their employer’s stock. Additionally, it is quite common for people to invest in “what they know” and what do you know better than the company you work for? To compound the problem many people will add more employer stock to their 401k holdings and individual brokerage accounts. Not only does this create a diversification problem in their portfolio but it also subjects them to excessive single stock risk. A good rule of thumb to follow is to insure that no more than 5-10% of your entire investment portfolio is in any one single stock. If you find yourself in this situation the importance of creating a well thought out reduction strategy cannot be overstated.

10. Following the herd -

The most successful of all investors are moving in the opposite direction of what everyone else is doing. They buy when most are selling and sell when everyone else is buying. By following this simple plan you can preserve your capital and potentially sidestep the next bubble (can anyone remember real estate, internet stocks, and technology growth funds?).

11. Not investing at all –

Somehow in today’s society that Mocha Cappuccino Latte seems to take precedence over saving for the long-term. We are a society who wishes to satisfy the “here and now” rather than the securing our future. The important fact here is that those two are not mutually exclusive. In fact, BALANCE is the key in any long-term endeavor, but by always keeping an eye on the end goal you can make sure it is not out of mind while satiating the here and now.

12. Investing without a plan -

Investing without a plan and lacking the discipline to follow it is a sure way to lower your chances of success. The chances of obtaining any long term goal can be greatly enhanced by creating a strategy, following it and regularly reviewing it frequently enough so it reflects any changes that have taken place since implementation. Many investors start off with a small amount of money and start putting it to work without a plan. As time progresses they find they have a mish-mash of investments in their portfolio with no clear strategy or direction. It’s never too early to invest but it’s even better to invest early with a plan.

13. Taking too little risk -

Some people don’t want to take any risk and cannot stand the volatility involved with risky investments. While it may seem like you are keeping your money safe and secure by not taking risk, it is more than likely you are not because of inflation. If your time horizon is greater than 5 years it is recommended that you have no less than 25-30% in growth investments (i.e. stocks) in your portfolio to ward off the effects of inflation. The actual percentage to own is dependent upon many factors including but not limited to age, time horizon before money is needed, current financial situation, etc. A good general rule of thumb to use as a starting point for the percentage of equity you may include in your portfolio is “120 – your age.”

Traditional Marketing – An Introduction to Offline Marketing – Part 1

The Art of Marketing as a whole

Marketing is the process of establishing which products or services that might attract certain customers, and then determining what strategy to use to promote them. This mutual procedure is intended to create value for customers and build strong customer relationships in order to obtain trust and recognition within a business. The main purpose of marketing is “to attract” a target audience or specific individuals who are interested and want your product or service that you offer. That then leads to the primary goal of any business which is to ultimately make sales, or in other words, “to sell”.

While referencing to customers, it can be said that they are the main focus of marketing activities. It is pertinent to ALWAYS do these three key things:

  1. Identify the customer
  2. Maintain the customer
  3. Satisfy the customer

With these key factors in mind and the impact that advertising has on the potential success or failure of a business, it is correct to say that marketing in general is one of the most vital pieces of the business world.

Traditional Marketing

Traditional marketing is also referred to as “offline marketing”. The term traditional simply means the “passing on” of something, such as beliefs, customs, or practices. So when you think of traditional marketing, you should comprehend that it consists of techniques and strategies that have been used for a very long time. In addition, you can think of its relative term, “offline marketing”, as any method or means of promotion that does NOT include the internet.

Traditional marketing mainly focuses on the company and the product, as where online marketing centers on the customer and their interests. So basically, you would use traditional marketing to expand your business and strive to distribute your product through the three main geographical levels (local, regional, national) and ultimately worldwide. There would apparently be less focus on the actual customer and their needs although some might disagree with this logic.

The Four Ps

The four Ps, also known as the “marketing mix”, was developed by Jerome McCarthy after the term became widespread in the early 1960s. The four Ps are the four essential ingredients of marketing. They incorporate the following:

1. Product – All businesses revolve around a product or service. You must first develop a unique and quality product or service that you intend to sell. Here are other aspects:

  • Brand name
  • Purpose
  • Style
  • Safety
  • Packaging
  • Support
  • Warranty

2. Price – Second, you should investigate the price value of your competition (if any), and then determine the cost of your own product or service that’s both affordable and will earn you revenue. Other things to consider are:

  • Discounts
  • Types of payments
  • Seasonal pricing

3. Place – Third, you have to decide how you will distribute your product to the customers or where you will offer your service. More decisions to be made include:

  • Market coverage
  • Inventory management
  • Warehousing
  • Distribution centers
  • Order processing
  • Transportation

4. Promotion – Lastly, the marketing and campaign portion comes into play. You must determine who you will market to and what advertising methods and strategies you will use to acquire potential prospects. This is the most important piece of the marketing mix and can make or beak a business. Additional things to take into account are: 

  • Workforce
  • Publicity
  • Marketing budget

All four elements of the marketing mix must be completed and well thought out before you can think about starting any campaign for your product or service.

Is traditional marketing beginning to slowly disappear?

Traditional marketing is becoming a lost element in the business world. Many people are now marketing their businesses online as the number of internet users grow substantially every year. To give you a quick insight, there are currently over 1 billion people who use the internet today. I mean how can the offline market even compete with that? But just because a new revolution has arisen doesn’t mean the old ways are no longer effective. Traditional marketing can still produce plenty of customers and lead to major profits if it is used correctly. So don’t think that you should just market your business only on the internet. The idea is to incorporate both online and traditional methods to see maximum results.

Things to remember

The crucial points to keep in mind is that in order to achieve success in the business world, you must always do the key three factors of identifying, maintaining, and satisfying the customer and you have to constantly fulfill the four Ps of the marketing mix. The more often and the more effective you complete these two tasks, the higher amount of profits you will see yourself earning in your business.

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