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Travel and Tourism Business Toolkit | Assignment

   

Added on  2021-02-19

14 Pages3274 Words118 Views
Travel and TourismBusiness Toolkit

INTRODUCTIONTravel and tourism is the sector in which individuals or group of individuals travel fromone place to another for different reasons. As compared to older days, there are different reasonsfor which individuals travels such as business tour, educational tour, family trips, etc. Hencethere are different factors which as to be considered to perform business activities smoothly andsuccessfully. The assignment is conducted to gain knowledge of the toolkit of CarnivalCorporation that is cruise operating organisation having largest leisure with more than 700 ports.This cruise provides facilities such as accommodation like total, bars, food, events,entertainment, shore, etc. In this report, individual is hired as Assistant manager(Ali, andHussain, 2016). Before giving official responsibility to individual there is different job rolesassigned in HR department and Finance sector. In this report there is discussion about keyprinciples of revenue management, impact of legal and ethical consideration, management ofbudget and maintaining statistical and financial records. TASK 1 (ACTIVITY 5)P1 Rationale as well as principle of revenue management in T&T SectorThis can be referred to as the process whereby exchange of appropriate product torelevant customer at perfect time, at right place to maximise the revenue in organisation. In thisregard, the principles as well as reasons associated with revenues management within tour sectorare explained below:Market segment: Most of the hotels started the revenue management process in order toexplain the various different segment of each market for hotel services. Manager of Carnivalcorporation and plc segment their customer base market into different set of categories which isbased on price. These categories include the business traveller and vacation traveller. In thiscontext, manager of Carnival corporation and plc segmenting the prices by season, peak and lowseason. Carnival corporation and plc can design different ways from which they charge differentprice to the different market segment (Budeanu,and et. al., 2016).Pricing : In this context, Carnival corporation and plc also provide the better services atgood price by adopting good pricing strategy. Company should provided the high quality ofservices so that customers can easily pay high price for services. It will be very effective forCarnival corporation and plc in term of earning high profit and its also help in revenue of1

organisation. Carnival corporation and plc should design different ways in which they cancharge different price to different market segment for example: divided each segments categoryinto subcategory. This term if the price of services is high and quality of services is not so goodthan it will not attract more customer towards the services(cavlek,and Willis, 2017). P2 Ways to implement revenue management tools for generating maximum profits.There are various type of tool which is used in organisation. Different tools revenuemanagement is mentioned below:Rate shopper: This tool of revenue management is very effective in term of saving thetime. This tool can be use to declare the price rate of rival companies. Carnival corporation andplc formulated the pricing strategy so that high profit can be earn.Channel manager : In this context, channel manager monitor and analysis all operationswhich is related with the businesses channel. This tool is very effective in term of managingprices and inventory with assistance of single manager. This tool will benefits in onlinedistribution so that customer base is increases in organisation(DeLacy, and et. al., 2014)Business intelligence: In this context central reservation considered as the heart ofrevenue management and business intelligence considered as the brain of this. This businessintelligence is very effective in Carnival corporation and plc analyse the data, market demanddata which helpful in understand the performance. BI improves the quality of its own analysisand insight into the true state of a hotel's revenue forecasts.TASK 2 (ACTIVITY 1, 2)P3 Different stages in HR life cycle for Food and Beverages manager and its importance forretaining and developing talentHuman resource department refers to the sector which works for selecting, hiring andretaining individuals in organisation. This department has to select information through differentsources which are specific and relevant in context of performing official responsibilities in betterand effective manner. There is HR cycle which provides completes information about hiringindividual and make long term relations with them. Different stages of HR cycle followed forhiring Food and Beverages manager of Carnival Corporation & PLC is as under-Recruitment- This is the first stage in which hiring of correct candidate as per itsqualification and degree is important. For hiring food and Beverage manager, individual must2

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