Travel and Tourism Tool Kit: Revenue Management, HR Lifecycle, Legislation and Ethics

This travel and tourism tool kit covers topics like revenue management, HR lifecycle, legislation and ethics. It includes discussions on sales, budget and revenue management, basic principles of revenue management, revenue management tools, differentiated pricing strategies, HR lifecycle and strategy, performance management plan, and more.

Management
Travel and tourism tool kit
Student name

Travel and tourism tool kit 1
Contents
Introduction................................................................................................................................2
1.1 Sales, budget and revenue management...............................................................................3
1.2 Basic principles of revenue management in travel and tourism industry............................3
1.3 Revenue management tools in order to generate maximize profits-....................................3
1.4 The impact of differentiated pricing strategies on revenue management in travel
andtourism industry-..............................................................................................................4
1.5 Principle of revenue management and application of it over intrepid travel-......................4
1.6 Manage budgets and maintaining statistical and financial records-.....................................5
1.7 Importance and value of budget for controlling business performance and identifying
variances-...............................................................................................................................5
1.8 Financial statements of intrepid travel-................................................................................6
Part 2..........................................................................................................................................7
2.1 HR lifecycle and human resource strategy...........................................................................7
2.2 Stages of the human resource lifecycle-...............................................................................7
2.3 Performance management plan............................................................................................8
2.4 Techniques to improve negative behaviour in an organisation-..........................................9
2.5 Importance of HR life cycle-..............................................................................................10
2.6 Recommendations..............................................................................................................11
Part 3........................................................................................................................................11
3.1 Legislation and ethics in travel and tourism......................................................................11
3.2 Employment & contract Law.............................................................................................12
3.3 Implication of legislation, regulation and standards over decisions making.....................13
3.4 Impact of legislation, regulation and standards over decisions making.............................13
Conclusion................................................................................................................................13
References................................................................................................................................15

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Introduction
Intrepid travel is one of the world’s smallest groups of Adventure Travel Company. As this
well-known company journey come a long way. Intrepid travel begins at 1988 and till
moving ahead with every year. This particular travel generates the real life experience, which
makes one feel alive and experiencing something special. Other than this, the main role of the
Intrepid travel is to make their customers experience the real life experiences by offering the
local knowledge and the experience which helps an individual to get behind the scenes of the
culture and makes understanding about unique and authentic insights into local life.
In terms of the services, intrepid travel main motto states that vacations should not be hard.
They provide the full services travel agency so can think of holidaying without any hassle.
Certain loyalty programmes are also originated by the intrepid travel likewise, if a person
ends up taking the ninth trip, intrepid will provide the legends rewards to put towards the
tenth trip and along with that they would consider those individuals as intrepid legend.
Hence, this corporation is a accountable organisation, which organizes trips under the
guideline of united nation worldwide compact so they objective to encourage the adventurous
tours worldwide.
.

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(Source: Swanson, and Edgell Sir, 2013)
1.1 Sales, budget and revenue management
The concept of revenue system highlights about that particular income which is obtained by
the organisation through selling of the goods at the various different prices. Hence, in very
basic terms concept of revenue states that whatever the firm sales, the receipts and income
earned is referred to revenue generation.
Revenue management highlights about predicting the customers request to optimize portfolio
and value obtainability in order to exploit the income growth. It importance is to gather
information about the marketplace so that it can be active and not oversensitive.
Revenue management is that concept which not only maximizes the high period request but
along with this it also helps in stimulating demand in low period while avoiding pricing
cannibalism (Legohérel, Fyall, and Poutier, 2013).
1.2 discussion of Basic philosophies of revenue management in travel and
tourism industry
Travel and tourism revenue management is the most significant aspect for the success of
industry. The most basic principle in terms of Intrepid travel and tourism industry is direct
booking; through this, the customers can make direct bookings in order to gain services. By
performing it well many travel and tourism industries gain loyalty of customers through
direct booking initiatives.
Intrepid Travel and tourism software, data and insights highlights that every industry need to
make decisions on the basis of most recent and the accurate data. As maintenance of the
relevant data is one of the key to success. Travel and tourism software system is one of the
favourite tools for the mangers in order to keep the marketing efforts and helps in identifying
the various marketing channels, which helps in brining guest.
Lastly, experience starts with the website management as it helps in finding everything on
one’s social media, through mobiles and smart phones. Through this, more and more people
starting accessing the websites (Swanson, and Edgell Sir, 2013).

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1.3 Revenue management tools in order to generate maximize profits-
The property management system: The property management system is one of the major
tools for the success in term of intrepid tour and tourism industry. This particular tool of
revenue management highlights about the workflow easier at reception areas, which helps in
creating the perfect guest experience. With use of latest and upgraded technologies, it
important to consider time to select the property management system which is the most suited
to one’s needs which helps in offering the best connection with the other systems.
Booking engines- the most important tool in terms of revenue management in relation to the
intrepid travel and tourism industry is the selection of technology in terms of booking engine,
which helps in managing the direct point of sales. As this aspect helps in facilitating
international reservations, without any human intervention and lastly easy conversion of
currency is also available in terms of booking engines, which helps the customers to make
easy bookings without any issues (Kimes, 2011).
1.4Analysis of the influence of distinguished valuing strategies on revenue
management in travel and tourism industry-
As pricing is one of the most vital marketing tools in sales and sales advertising. As pricing
are depended on two internal and external factors. Firstly, customers are highly price
sensitive however; the adoption of the differentiated pricing strategies majorly affects the
profitability of the company. It is very essential to set the perfect price and balance between
the demand and supply. For generating balance the intrepid company must adopts different
pricing strategies to attract the potential customers and convert the existing ‘customers into
the loyal ones.
Moreover, in terms of price parity strategy helps in stimulating the direct bookings, which is
a highly effective plan to involve the use of discount codes to inspire the future reservations
and through this many customers, gets attracted who are loyal to them and helps the intrepid
company to earn more of revenue. Other than this, upselling is also one of the pricing
strategies, which helps in encouraging customers to spend more on their existing purchase,
which is the most vital component for an effective revenue management strategy within the
travel and tourism industry.

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1.5 critical analysis of principle of revenue management and application of
it over intrepid travel-
Intrepid travels are one of an exploration tourism company, which is one of the biggest
companies functioning over the small scale in a tourism industry. This particular company
provides around 150 paths and destinations in more than 120 countries. Some of the
attention-grabbing destinations obtainable by the business for the travel purpose are Europe,
Asia, and Latin America. Moreover, this particular company operates tour worldwide under
the guideline of United States global compressed so that they goal to encourage the
adventurous tour worldwide.
The implementation of the various principles in terms of revenue management highlights
about the market segmentation, as customers segmentation are being classified on the basis
of qualified and non-qualified customers in which the most important are the expensive rates
which are unrestricted in nature and having an highest availability likewise, government.
Other than this, corporate customers are the negotiators in terms of availability.
Demand forecasting aspect highlights about the arrival demand through the length of stay.
Intrepid travel generates the forecast on the day of the week, time of the year and seasonlility,
outings and special occasions. Hence, such type of forecasting helps in determining effective
workings for the revenue management controls.
Overbooking control aspects intrepid travel generates the specific process in which they at
that particular time are selling more of reservations above their total capacity. This particular
process helps in finding and reaching to the most encouraging overbooking level to maximize
the revenue and along with it minimizing the risk (Swain, and Mishra, 2012).
1.6 Manage budgets and maintaining statistical and financial records-
In terms of financial statement, it is the most important tool, which helps the company to
understand the performance of the organisation in all the aspect. The dissimilar types of
monetary statement and reporting mechanism for organisation in terms of travel and tourism
industry is through statement of profit and loss and balance sheet and lastly, the summarised
statement of commercial position, which highlights about the total assets and total liabilities
and net assets and total equality left over with the company.

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1.7 Significance and value of budget for controlling business performance
and identifying variances-
Budgeting helps in identifying the current available capital, which helps in providing an
estimate of expenditure and anticipating incoming revenue. In addition, a budget business
helps in measuring the performances against the expenditure and ensures that resources are
available for the support of business growth and development. Moreover, it also enables the
businessperson to keep an eye over spending; planning a futile plan in order to attain business
set objectives (O'brien, 2019).
Other than this, budget is that process which helps in providing opportunities and ensuring
that the money is allocated into those things that helps in supporting the strategic objectives
of the business. Lastly, through budget formation, it helps in engaging the team in reviewing
and comparing the last year budget with the actual one so that it provides the information
about the strength and the weaknesses of the company and what all further changes in
strategies are to be adopted for the future enhancement of the company (Morrison, 2013).
1.8 Financial statements of intrepid travel-
Summarised statement of profit and loss (for the year ended 31 December 2017)
(Source: Intrepid group, 2017)
Summarised statement of financial position (for the year ended 31 December 2017)

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(Source: Intrepid group, 2017)
The above-summarised financial statements help in evaluating the overall performances of
the intrepid travel through the comparison made in between 2016 and 2017 year. The above
mentioned tables highlights about the financial position of intrepid travel states that financial
year 2017 sales was much better than 2016 likewise a slight improvement from 245,260 to
275,780. In terms of revenue from the continuous operation have a major impact, which
increased from 245260 to 275780, which is relatively higher. However, if we see profit
before tax has a major downfall as compared to 2016 report. Overall, the profits were at
downfall condition as compared to the earlier year but their improvement in the total assets
along with this there is an increase in total liabilities (Intrepid group, 2017).
Part 2
2.1 HR lifecycle and human resource strategy
Human resource cycle each stage has its own set of various chances, encounters and profits.
Many instance highlights that if an employee whose skills are least upgraded can address this
particular issue during their evaluation stage. Moreover, organisation who are unable to
perform better gets HR motivation assistance. Lastly, regularly the corrective actions are
taken into consideration, which ensures the business continuity.
2.2 Stages of the human resource lifecycle-
Recruitment- In terms of signing the finest persons is one of the main supplements for
development of the commercial. Such staffing decisions in travel and tourism industry have a
direct impact the company’s turnover, productivity and overall growth. Hence, in order to get

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success during the recruitment stage of the lifecycle, company in terms of travel and tourism
context and the HR managers should work with strategic staffing plans, which help in
striving only the best.
Level of education- This aspect highlights about the customers education in context to travel
and tourism when one reaches to particular position. This phase includes responsibilities and
expectations and assists in passing along the business values and moral expectation.
Moreover, it is always significant to safeguard that every individual should remain under the
co-worker who escorts him or her through his or her transition. This aspect majorly helps the
employees to retain, learn and develop their talents so that it benefits both the individual as
well as organisation.
Motivation- As rate of sales is higher in a starting 90 days and arises from the absence of
adequate inspiration. Staffs who last the lengthiest are those who have constructed strong
promises with their front-runners. Human resource manager helps in keeping the workers
motivated during the first three month by continually keeping them involved, providing good
compensation perks, and viewing gratitude for their contribution.
Evaluation- The evaluation stage in human resource lifecycle helps in supervising the overall
performance of the employee’s. In this particular stage helps in equip the worker and their
supervisors with metrics that measure whether the recruit is the right fit for the work. Along
with this, it helps in maintaining the great deal when frontrunners seek out staffs doing the
fantastic job rather than continuously and continually condemning it.
Celebration- this is the last stage of human resource cycle, which gives an chance to
reactivate the workers and shows appreciations for their hard work. This appreciation can be
monetary and can be non-monetary too. In terms of non-monetary, companies can generate
flexible schedules or the extended paid leaves and much more. In monetary concern,
promotion and enhancement in salary which helps in striving to achieve the business goals.
2.3 Performance management plan
In performance management planning there are three main attributes, which mainly
highlights about the results, behaviours and development plan. In terms of result aspect, HR
manager evaluate and measure the performance and provides information in order to fulfil the
gaps in between performance and achievement. In behavioural aspect, through observations
and close monitoring by the supervisors helps in knowing the employees behaviour. Then,

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development plan which helps in improving the employee knowledge, skills and attitude (De
Waal, 2013).
Performance scheduling
Performance implementation
Performance valuation
Performance evaluation
Performance renewal and rebuilding (Rolstadås, 2012)
Second step highlights about performance execution, which states that whatever the plans
and standards are set at the earlier stage are taken into considerations. In this the role and the
responsibility of the HR is to improve focus by providing resources, tools and equipment’s to
staff members for the better performances of the tasks. This can be improved through
motivating the team members through different tools and integrating the overall
performances and enhancing the individuals’ knowledge and skills (De Waal, 2013).
Performance assessment highlights about both employees and HR manager who are
responsible to measure and access the up to performance of employees against the set targets.
The phase of process also highlights the individual set targets, behaviours, or attitude and till
date achievements during the performance appraisals (De Waal, 2013).
Next step highlights about performance review in which superiors and subordinate
exchanges the information and the performance feedback against the set target by the firm. In
this a proper conversation is taken in between managers and the employees and along with
this, more of training sessions, next year goals and targets and expectation of employees and
managers in order to lead overall success of the firm (Kappel, 2017).
Lastly, performance renewal and reconstructing highlights about, whatever the further
alteration are to be made in terms of improving training session and next plans to be set

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comes under this head. Hence, here the process starts again which is again need to be
discussed, design, develop, executed and reviewed again in order to resolved all the issues
and the problems such as retention issues and performances issues through setting of
performance development plan with strategic objectives of organisation (Yazici, 2011).
2.4 Techniques to improve negative behaviour in an organisation-
Within the organisation, treat people with justice and uniformity. Develop and
broadcast the workstation rules and dealings that help in organizing work successfully
and efficiently.
Provide an appropriate strategic framework and leadership which includes missions,
values and vision and goals so that accordingly people within an organisation makes
better decisions which empowers them to make more strategic decisions which are
align with the overall performances (Rees, and Smith, 2017).
Providing an appropriate rewards and recognitions helps in contributing more in
organisation activities effectively. Hence, through such rewards and recognition helps
in building a positive workplace and reduces negativity within the organisation
(Heathfiled, 2018)
Retention of employees within an organisation can be more, if an organisation starts
treating their employees with respect at all the levels, recognition for their hard work
should be done through promotions and rewards. Moreover, providing them job
securities and lastly generating more of opportunities to use skills and abilities at
work so that retention rates reduce and success of organisation upgrades that usual
(SHRM, 2019).
2.5 Importance of HR life cycle-
Human resource life cycle mainly highlights about recruitment, education, motivation,
evaluation and celebration. In this, in order to overcome the issue of employee retention
organisation needs to work over education in which they need to be educated about skills that
are need be upgraded through proper training, communication, assigning new roles and
responsibilities in order to enhance their performance and retention in organisation.
Other than this, motivating employees who are working dedicatedly and are engaged in
performing at higher levels and showing their commitment towards the set targets by the
company. This can be improvised when company generates better compensation, benefits and

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opportunities for employees’ growth and finally this will helps in reduction of employees’
turnover (Smith, 2014).
Through evaluation aspect, organisation should draw a meeting in between the supervisors,
employees and heads of the organisation. In this, the company should allow the employees to
provide a constructive feedback so that ‘the problem and the issues can be resolved and such
issues should not hamper the success of the individuals’ talent as well as the organisation
goals (Zairi, 2012).
2.6 Recommendations
In terms of human resource processes, organisation should design and develop strategies to
ensure that the organisation should recruit, retain and develop the talent in order to deliver
better performances currently and in future.
An effective integration and communication between existing human resource function
should be established. As through proper communication organisation and employee both can
carry the set objectives properly and work will be done whatever being communicated by the
top management.
More and more of training and human resource development programmes should be
developed within organisation as it helps in developing and upgrading and help in address
various problems, which arise from the talent management process.
Lastly, talent management strategies should also align responsibilities for superiors so that
they can develop the skills for their subordinates. Opening sharing of information also leads
the employees to gain most of the knowledge about the working within the organisation so
that the set objectives to be fulfilled.
Part 3
3.1 Legislation and ethics in travel and tourism
Legal and regulatory aspect of travel and tourism are interconnected to each other in
numerous ways. There are numerous parties such as suppliers, customers, and contractors
interact in between them and the role of the legislation become significant. Certain laws such
as tourism act 1869 which main work is to mainly focus on the tourism organisation and

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their coordination. Package travel and tour regulation act 1992, which highlights about the
control delivering of responsibilities of the tour operators to the ultimate customers. In this,
its main objective is to promote standards procedure to regularize the tourism industry, which
helps in defining the right and the obligations of the party (Lovelock, and Lovelock, 2013).
Health and safety is also one of the legislation, which mainly focuses on the likely dangers
in the travel and tourism aspects and ensures that risks of misfortune are minimized.
Other than this general legislation act also pinpoints towards fire safety, which mainly
applies to virtually all the workplaces. In this individual person is accountable for the fire
danger valuation and ensures that fire protection and prevention measures are observed and
maintained.
Lastly, under discrimination the equality act 2010 highlights about the unlawful to
discriminate against any of the employee members or customers. Hence, it major covers nine
basic characteristics that are disability, gender reassignment, sex and age. Hence, this
legislation clarifies and strengthens the protection against the wrong doings (Koplyay, Lloyd,
and Mako, 2014) .
3.2 Employment & contract Law
In context of common law, the companies have to follow the common law, which regulations
the contract formulation and related aspects. In addition to the common law, all contracts
formed during the employment of an individual, have to comply with the employment related
statutory laws. These include laws dictating equality and ensuring that no bias is undertaken
during the employment of any individual, including the hiring and promotional stages. A key
legislation in this context is Equality Act 2010. The company also needs to ensure that the
rights of the employees are protected as guided through the Employment Rights Act 1996
(Hudson, and Miller, 2012).
Other than this, the employment relations act, 1999, which majorly highlights that employers
have to recognize the trade unions where at least 40% of those are eligible to do so take part
in a ballot and a majority of those voting, are in favour of union recognition. Moreover, the
working time directive act 1999, which states that all employees a maximum 48 hours
working and four week holiday is mandatory and employees can also choose to opt of the
working time requirement and agree to work longer hours if they wish to (Hall, 2011).

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Lastly, the national minimum wage act 1998, states that the present labour party coming into
power this changed. The minimum wage is increased each year in line with the rise in the
cost of living. The equal pay act 1970, states about setting out women and men who should
receive the same pay for doing the same job and same type of work and should be paid the
same value for their workings.
3.3 Implication of legislation, regulation and standards over decisions making
If an organisation in context of travel and tourism industry works according to the
legislations, regulations and ethical standards, it will, major benefits the firm, employees,
supplier and ultimate customers as every work will be done within the ethics and regulation
set by the company. While following the same make the organisation fully transparent and
trustworthy for the shareholders, stakeholders, supply chain partners, employees, customers
and lastly the regulators and government bodies.
In addition, recognition of moral, standards, ethics and legal responsibilities under the health,
safety and security legislation aspect in order to provide a safe and healthy working
environment. Moreover, it also leads to the fine decisions making which will be in favour of
all and benefits will be in concern of all leads to the overall fulfilment of the set objectives of
the organisation (Hall, 2011)
3.4 Impact of legislation, regulation and standards over decisions making
The impact of legislation, regulation and ethical standards over decision-making are higher as
travel and tourism regulation and legislation are found to be treated equally without making
discrimination on the basis of gender, age and religion. The mechanism of decisions making
has major impact by the ethical dilemmas, which are applicable to particular situation.
Proper knowledge of the ethical and standards dilemmas also major affects the decisions
making in travel and tourism industry at a considerable amount. Likewise, for an effective
and efficient growth the travel and tourism industry need to follow the sustainable
development path.
Moreover at the end by following the same legislation, regulation and the ethical standards
makes the company to act more reliable, overall through this maintains consistency within
and outside the organisation for the successful generation of the set objectives of the firms
(Hudson, and Miller, 2012).

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Conclusion
From the above report we can conclude that this report comprise of highlights about for every
organisation revenue management has certain set targets and profit margins. Other than this
human resource lifecycle states that recruitment, education, motivation, evaluation and
celebration also helps in identifying if an employee whose skills are least upgraded can
address this particular issue during their evaluation stage. Moreover, organisation who are
unable to perform better gets HR motivation assistance. Lastly, regularly the corrective
actions are taken into consideration, which ensures the business continuity.

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References
De Waal, A., (2013) Strategic Performance Management: A managerial and behavioural
approach. Macmillan International Higher Education
Hall, C.M., (2011) A typology of governance and its implications for tourism policy
analysis. Journal of Sustainable Tourism, 19(4-5), pp.437-457
Heathfiled, S.(2018) tips for minimizing workplace negativity [Online] Available from:
https://www.thebalancecareers.com/tips-for-minimizing-workplace-negativity-1919384
[Accessed 4/04/2019]
Hudson, S. and Miller, G., (2012) 13 Ethical considerations in sustainable tourism. Global
tourism, p.248.
Intrepid group.(2017) Intrepid group annual report 2017 [Online] Available from:
https://www.intrepidtravel.com/sites/intrepid/files/IG_Annual_Report_2017.pdf [Accessed
4/04/2019]
Kappel, M.(2017) 5 ways to reduce employee turnover [Online] Available from:
https://www.forbes.com/sites/mikekappel/2017/08/09/5-ways-to-reduce-employee-turnover/
#6d7d26d45001 [Accessed 4/04/2019]
Kimes, S.E., (2011) The future of hotel revenue management. Journal of Revenue and
Pricing Management, 10(1), pp.62-72
Koplyay, T., Lloyd, D. and Mako, C., 2014. HR issues evolution along the market lifecycle
and the value chain: case of the hi-tech industry. Psychosociological Issues in Human
Resource Management, 2(1), pp.7-33
Legohérel, P., Fyall, A. and Poutier, E. eds., (2013) Revenue management for hospitality and
tourism. Woodeaton: Goodfellow Publishers.
Lovelock, B. and Lovelock, K., (2013) ETHICS OF TOURISM. TAYLOR AND FRANCES.
Morrison, A.M., (2013) Marketing and managing tourism destinations. Routledge

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O'brien, J., (2019) Category management in purchasing: a strategic approach to maximize
business profitability. Kogan Page Publishers
Rees, G. and Smith, P. eds., (2017) Strategic human resource management: An international
perspective. Sage
Rolstadås, A. ed., (2012) Performance management: A business process benchmarking
approach. Springer Science & Business Media
Ropero, M.A., (2011) Dynamic pricing policies of hotel establishments in an online travel
agency. Tourism economics, 17(5), pp.1087-1102
SHRM.(2019) Managing for employee retention.(Online) Available from:
https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/
managingforemployeeretention.aspx [Accessed 4/04/2019]
Smith, S.L., (2014) Tourism analysis: A handbook. Routledge
Swain, S.K. and Mishra, J.M., (2012) Tourism: Principles and practices. Oxford University
Press
Swanson, J.R. and Edgell Sir, D.L., (2013) Tourism policy and planning: Yesterday, today,
and tomorrow. Routledge
Yazici, H.J., (2011) Significance of organizational culture in perceived project and business
performance. Engineering Management Journal, 23(2), pp.20-29
Zairi, M., (2012) Measuring performance for business results. Springer Science & Business
Media

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