The Maritime Hotel Group (the Group) owns three high-end hotels in western coastal resorts in the Kingdom of Saudi Arabia. To date, the Groups predominant growth strategy has been through acquisition. The global pandemic severely impacted the hotel industry. However the growth in tourist visas to the Kingdom has been central to generating new forms of revenue in the sector. The recent construction of conference and event venues on the grounds of its hotels will enable the Group to attract key international conferences and global entertainment acts. Although profits were slightly less than anticipated in 2022, management believe that performance was good as most other hotels in the region reported significant losses. The Groups senior management team is very excited about future prospects. Given the attractiveness of the region as a tourist destination, the team believes that this might be a good time to consider constructing/acquiring another hotel complex. To this end, the Group has applied to Flex Venture Capital for funding of SAR40million. Note: At present, the Groups long term debt covenants state that operating profit must be, at minimum, twice the interest charge every year. You are an analyst at Flex Venture Capital and you have been asked to review the information provided in the Appendix below.

explain in details

Describe (

i) two key changes to the external business environment in recent years

(ii) their impact on businesses such as hotels, and

(iii) their impact on accounting.