Carnival Cruise

This is the first 1,000 characters of 2649 words (10.6 pages) in the essay titled Carnival Cruise

Carnival Cruise

INTRODUCTION
In 1972 American Travel Services, Inc., along with Ted Arison, bought two ships from the Canadian Pacific Empress Lines for $6.5 million. These two ships were named the Marti Gras and the Carnivale. Things did not begin well for this group of investors. On its first voyage, the Marti Gras ran aground in Miami Harbor. The ship was also slow and used up very expensive fuel.
For the next three years, Carnival lost money. During this time, Arison tried to drum up business by adding such attractions as casinos, discos, nightclubs, and various forms of activities. Finally, in 1974, American Travel Services was ready to pull out of the joint venture. So, Ted Arison bought out ATSI for $1 cash. Unfortunately, he also acquired the $5 million debt that went along with the venture. As luck would have it, however, the following month after the buyout by Arison, the repaired Marti Gras began showing a profit. For the remainder of the year, it operated at or above than...

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