Monte-Carlo Rolex Masters: Case Study
They will be required to pay the full amount of $3,622.04 per person. However, in order to help them for the event, Destination Tennis will require payment plays leading up to the event. For example, on the December 1st, January 1st, and February 10th leading up the experience, each tourist will be required to pay at least a third of the total cost, costing roughly $1,207.34 each time. After all the individuals have paid, a total revenue of $36,220.40 will have been made (multiplying $3,622.04 by 10). The total cost for the event will be $3,122.04 per person or $31, 220.40 in total (excluding the $500 profit Destination Tennis receives from each sport tourist). The ROI also must be calculated when determining what percent Destination Tennis makes up for this event. The ROI formula sports tourism is as follow:
ROI= (Sports Tourism Revenues-Sports Tourism Total Cost) x 100 (“Sports Tourism,” 2016).
Sports Tourism Total Cost
By plugging the revenue and cost into the formula, the ROI comes out to:
ROI=(36,220.40-$31, 220.40) x 100 16.01%
Thus, approximately 16% ROI will be generated from this event for Destination