... was financed by a rights issues and loan capital. Avis had created such formula for success that the financial community provided money when it was required. Avis had created this strong relationship. The late 1980's early 90's has seen a change in fortunes. Recession, more competition, threats of terrorism and increased costs has contributed to the company perusing a strategy of cost reduction, in order to maintain credible profit levels. The external environment affects the hotel industry considerably. Cost reduction initiatives have created there own problems in the management control system so much so that the financial community didn't want to help. This poses the question whether what Avis created has long term value. This report will critically evaluate the management control system of Elite Hotel Group and recommend changes which can be made to the problems found in the system. 2. A new mission Elite group has been extremely successful in the luxury end ...

See this essay or coursework document in full right now