International Travel and Tourism Management Report: Revenue, HR, Laws

This report provides an in-depth analysis of international travel and tourism management, focusing on key areas such as revenue management, human resources, and legal compliance. The report begins with an exploration of revenue management principles, including market segmentation, forecasting, consumer behavior, pricing strategies, and resource optimization, with specific reference to Jet2holidays. It then delves into the application of various revenue management tools, like PMS, channel managers, and rate shoppers. The report also reviews the stages of the HR life cycle, from attraction to separation, for retaining competent staff, and develops a performance management plan for a specific job role. Furthermore, it explores relevant legislations in the travel and tourism industry, including consumer protection laws, the Trade Description Act 1968, and the Health and Safety Act 1981, and the importance of employment and contract law. Finally, the report examines financial statements, reporting mechanisms, and the significance of budgets in business performance within the context of the travel and tourism sector. The report aims to provide a comprehensive overview of the operational and strategic elements critical for success in the industry.

International Travel and
Tourism Management

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Elaborate principles of revenue management in travel and tourism sector...........................4
P2 Describe about how Travel and tourism sector applies various revenue management tools.5
TASK 2............................................................................................................................................6
P3 Review various Stages of HR life cycle for a specific job role to retain competent staff.....6
P4 Develop a performance management plan for a specific job role..........................................7
TASK 3............................................................................................................................................8
P5 Explore legislations in Travel and tourism industry..............................................................8
P6 Elaborate importance of employment and contract law with specific example....................9
TASK 4..........................................................................................................................................10
P7 Elaborate various kinds of financial statements and reporting mechanism for travel and
tourism sector............................................................................................................................10
P8 Explain the importance of budgets in business performance...............................................11
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Hospitality industry is one of the broad field in which various services consisted that are
lodging, food and drink services and theme parks, transportation, travel and tourism and many
more sectors. In hospitality industry travel and tourism industry is one of the important sector
that majorly deals in attracting, accommodating and entertaining tourists. This report is based on
Jet2holidays which is an British tour and travels holiday package provider and come in existence
in year 2007 and a subsidiary company of Jet2.com. It is one of the third largest scheduled
airlines in the UK. This report is based on the various principles of revenue management and its
tools to maximise profit. It also includes Stages of HR life cycle that related to specific job role
to retain talent and build performance management plan to evaluate various factors. It elaborates
various legislations related with travel and tourism and role of financial statement with budget in
an organization.
TASK 1
P1 Elaborate principles of revenue management in travel and tourism sector.
Revenue management is application of disciplined analytics that helps to predict
consumer behaviour at micro level to accomplish maximise revenue growth in proper way
(Baum, 2016). In the management of revenue by using past and current level of bookings
actions to forecast demand to gain maximise revenue and profit.
Principles of revenue management:
In principles of revenue management consisted that are as follows:
Market segmentation:
Segmentation refers to dividing and subdividing markets, various channels or consumers
in to various groups as per the needs and demand of consumers (Buckley, 2012.). Market can be

segment as per the target sales, increase guest retention, targeted pricing and increased market
share. In context of jet2holidays they segment market are people who love adventure and visit
places rapidly.
Forecast:
In that principle of revenue management consist of proper evaluation and prediction
regarding revenue expected in future. In context of jet2holidays with the help of forecast by each
and every department they are able to evaluate in proper way finance required to accomplish
goals and objectives in proper way.
Consumer:
It is an important principles of revenue management that enables to managers and higher
authority to evaluate and build products and services as per the needs and demands of consumers
in proper way. It helps in gain delighted experience from jet2holidays and it ultimately helps to
enlarge business opportunities.
Pricing:
Principle of revenue management that are pricing that states about managers and higher
authority have to set prices as all kinds of consumers can easily afford it and avail services of
jet2holidays ( Buhalis and Crotts, 2013. ). Price is one of most important factor to gain attention
of large no. of consumer base to remain always competitive in marketplace.
Optimisation:
Optimization of resources is very much important for an organisation to get all possible
outcomes in effective manner. It helps in generate high level of revenue that helps in growth of
Jet2holidays.
Rationale of revenue management:
These all principles of revenue management are very much important for an organisation
majorly in context of Travel and tourism industry to set all factors as per the needs and demand
of consumers so that they can get delighted experience from them (Chon and Yu, 2012..). In
order to it proved beneficial in coordinating each and every activity that ultimately helps in
generate revenue of ran organisation in positive manner.

P2 Describe about how Travel and tourism sector applies various revenue management tools.
Revenue manager needs different kinds of tools and techniques that proved beneficial to
accomplish a job role in proper manner. Each and every tools helps to revenue manager to be
more efficient and permit them to devote their time and resources for implementing strategies.
There are some essential tools of revenue management that are as follows:
PMS (Performance management system):
PMS is an important tool or techniques that are major factor in success of Travel and
tourism industry. With the help of that tool workflow should be in easier way that gives
delighted experience to consumer base. With the use of advance tools and techniques, it is very
much crucial to select PMS system as per the needs and connection system.
Channel manager:
Channel manager is very much important to effectively manage inventory from all
channels from a single monitoring point. In jet2holidays channel managers use grouped
inventory model in which online inventory can be sold once without risk of overbooking
packages of travel and tourism sector. It is very much crucial for manager to integrate channel
manager with PMS as it directly connect with needs and demands of guest. It can be applied by
evaluating needs of organisation and major resources of them.
Rate shopper:
It is one of most important role of a revenue manager to focus on pricing strategy of their
fierce competitors. Organisation compare their pricing in real time and take it from all possible
sources ( Evans, Stonehouse and Campbell, 2012.). In that aspect selection of best
technological tool not only helps in enhance the revenue but also increase efficiency of sales and
marketing efforts in proper way. It can be applied by evaluating pricing of an organisation and
compare with it fierce competitors.
TASK 2
P3 Review various Stages of HR life cycle for a specific job role to retain competent staff.
For an organisation to coordinate each and every activity organisation have to apply
various HR steps or tiers to get appropriate results. Here are stages of HR life cycle that are as
follows:
Attraction:

The first and foremost step to achieve talented staff members by attracting at workplace.
In context of Jet2holidays in their organisation they want to recruit a talented candidate for the
designation of adventure tourism expert (Hall, Timothy and Duval, 2012.). For that they
reveals all necessary details such as qualification, skills and capabilities and many more factors.
Recruitment:
Recruitment refers to hiring the right and competent individual as per the need of
organisation. Recruitment proved beneficial for Jet2holidays in selecting and retaining one of
most competent staff members. They to recruit adventure tourism expert they conduct line of
interviews to test their abilities in better way.
On boarding:
on boarding is the process by which new employees are introduce in the organisation. It
helps to give comfort in company by giving all necessary information about works and
procedures (Hudson, 2012.). In context of Jet2holidays after selecting competent personnel for
the post of adventure tourism expert they provide orientation program for them.
Entablement:
In that stage of HR life cycle they introduce and entails new hires and give information
about organisational culture, mission,vision and objectives. In context of jet2holidays they
conduct it in conference style that helps to deliver information to adventure tourism expert.
Development:
In that stage of HR life-cycle employee and HR department work together to achieve
organisational goals and objectives. In that HR manager avail personality profile to determine
best career options for jet2holidays. They give long term career objectives to individual so that
they feel motivated.
Retention:
In that stage organisation put efforts to re energize employees and give appreciation for
their work. In context of jet2holidays they after evaluating performance of selected employees
for the designation of adventure tourism expert.
Separation:
In that stage various activities take place such as retirement, leaving for more pay and
benefits. All these are very much important for an individual to remain always motivated
(Ibrahim, 2013.).

All these stages of HR life cycle are very much important to retain and develop talent
firstly by selecting best candidate as per the requirement of organisation and then give them
important knowledge and information. Information that provided in orientation program
regarding their works and procedures and after that organisation plan for fair compensation that
always motivate to give their best.
P4 Develop a performance management plan for a specific job role.
Performance management plan:
Performance management plan is an tool or techniques that helps to give performance
deficiency so that opportunities should be grab. It use to evaluate areas of failure that can be
meet by job goals or reduce concerns related to behaviour.
Performance management plan
Employee Name: John
Job Title: Adventure tourism expert.
Supervisor Name: Ket parry
First interim review: Need improvement in communication.
Second interim review: Focus on leadership skills.
Performance improvement Areas: After reviewing performance of applicant who applied
for the designation of Adventure tourism expert is lack behind in some areas but overall
efficient. Applicant have to improve in areas that are communication skills and leadership
skills that are very much important to lead in market and deliver important knowledge about
products and services to consumers in proper way.
Performance improvement plan: Improvement in major areas for an individual is very much
potential for an individual to reach at desirable goals and objectives. Individual by taking
online and offline classes and by reading books after that communicate in better way. To
develop leadership skills individual can observe their seniors and take best of qualities out of
it.
Employee's signature: Date:
Supervisor's signature: Date:
Techniques to resolving negative behaviour and to overcome from staff retention:

There are various techniques to resolve negative behaviour of an employee that are as
follows:
Training:
Training is one of important tool to evaluate major areas in which relevant skills and
capabilities of an individual required to give their best (Mason, 2015.). In context of
jet2holidays when in organisation some changes occurs or they adopt new technology, provide
training and development to them.
Use communication to build credibility:
The another best way to remove negativity in an organisation and behaviour in an
individual by communicating in positive way with employees. Finding out their major concerns
and give best efforts to eliminate them.
TASK 3
P5 Explore legislations in Travel and tourism industry.
In travel and tourism sector there are various kinds of legislation work simultaneously to
protect self interest of consumers that are as follows:
Consumer protection law:
The consumer protection is an important legislation that protect from misleading and
false statements (Moutinho and Vargas-Sanchez, 2018.). In travel and tourism industry that
kinds of false statements should be mead in context of holidays, arrangement of travels and
related to price. That law is very much crucial if any legislations get breached they apply various
kinds of penalties so that organisation can not mislead their consumers.
Trade description act 1968:
The trade description act 1968 is very much crucial for both consumers and people that
sometime suffer from any kind of misleading description at time of availing services. It is very
much important in travel and tourism industry if it is airline or travel agent about accommodation
that they described as five star hotel but actually found three star hotel. So in that tour operator
provide misleading consumers that break trust of consumers.
Health and safety act 1981:
It is one of most important legislation for travel and tourism industry and for consumers
to give them safety and security at time of availing services (Page, 2014. ). It proved beneficial

in case of any kind of injuries or illness occurs with the consumers in that case services provider
liable to provide first aid of casualty death. With the help of legislation service provider have to
protect their employees and consumers from any kind of mishap-pens from their life.
So all these legislations and regulations are very much important for an individual and
organisation to give best and delighted experience to consumer base by protecting their self
interest.
P6 Elaborate importance of employment and contract law with specific example.
Employment law is the collection of various laws and rules that helps in build strong
relationship between employee and employer (Raj and Griffin, 2015. ). Employment law
applies when employer hires employees and they devote their best in organisational growth. In
that law majorly covers the pay that paid by employer to employee in against they work for
them.
There are various employment laws that works in various fields and protect self interest of each
and every employee so that they can deliver their best. With the help of employment law
jet2holidays can be able to build strong relationship in employee and employers so that helps in
achieve organisational goals.
Rationale of employment law:
Employment laws are majorly plays crucial role to prevent any kind of discrimination
from employees at workplace and consumers. In that employees are protected against
discrimination that based on race, colour, nation and religion and many more. It also helps in
giving fair wages to employees so that they feel motivated and give their best. For an example
under employment law covers age discrimination that based on race, religion and sexuality and
dismissal of grievances.
Contract law:
Contract law is the body of law that based on making and enforcing agreements. It is an
important agreement that a party can bring into enforce (Vellas, 2016.). It is an wide area of law
that governs to build various contracts and carried out them as an fair remedy at the time of
breach of law. Both organisation and consumers avail at time of buying and selling goods and
services, licence products and for employment agreements and many more. For an example in
contract laws includes bills of sale, purchase orders and employment agreements. Jet2holidays

apply contract laws to maintain harmony in their works and activities so that they can enlarge
market base.
Importance of contract law:
Contract law based to serve in every kind of legal agreements that come in organisation
as well as for individual. Contract laws makes agreements enforceable that helps to give power
to compensate and get damages of money that caused due to the damages of other party due to
breach of contracts. The contract provides sense of duty regarding obligations or duties that have
to followed by both the parties that come into contract.
TASK 4
P7 Elaborate various kinds of financial statements and reporting mechanism for travel and
tourism sector.
In travel and tourism industry various kinds of financial statements and reporting
mechanism are very much important to record each and every attribute in proper way.
Financial statements:
Financial statements is a formal record of financial activities of an organisation that helps
in quantify financial strength, performance and liquidity ( Witt, Brooke and Buckley, 2013.).
There are majorly various kinds of financial statements that are as follows:
Statement of financial position:
Statement of financial position known as balance sheet that presents financial condition
of an organisation to a given date. In that three major elements consisted that are:
Assets, liabilities and equity. In context of jet2holidays they prepare financial statements time to
time to evaluate their performance.
Income statements:
Income statement also known as profit and loss statement and deliver important
information about financial performance in context of profit or loss in a fixed time period (Zeng
and Gerritsen, 2014). In income statement two major variables consisted that are income and
expenses of an organisation. The major source of income of jet2holidays is income from
travellers and major expenses are salaries and wages of employees.
Reporting mechanism:

Reporting mechanism are very much important for an organisation and consisted three
main factors that are financial, operational and Business intelligence reporting.
Financial reporting:
Financial reporting which also known as financial statements which contains cash flow,
income statement, balance sheet and shareholders equity are major elements of that mechanism.
In context of jet2holidays they prepare financial reporting that are important to evaluate their
own performance in proper manner.
Operational reporting:
The main objective of that mechanism is to provide management whole information
about current operational efficiency of an organisation. It helps in current evaluation of projected
financial outcomes and accordingly they aimed to take action (Vellas, 2016.). In context of
jet2holidays if they face any kind of financial loss they evaluate with the help of operational
reporting major reason behind it.
Business intelligence reporting:
BI reporting helps to collect important knowledge and information regarding
management and then combine it to reach at desirable goals and objectives.
P8 Explain the importance of budgets in business performance.
Budgeting is a chain of activities that helps to create a plan to spend their money. The
spending plan helps to determine promptly that adequacy of money to accomplish desirable
objectives.
Importance and value of budgets for controlling business performance and identifying
variances:
Budget plays crucial role to review the performance of an organisation and the major
objective behind creating that it control all the finance of the business and accordingly
organisation can plan to spend in major spheres in which they have to spend ( Witt, Brooke and
Buckley, 2013.).. After spending money on major spheres organisation can be evaluate their
performance as per the set standards. It also helps in find out current commitments that are very
much important to achieve by finding out major variances in organisational growth and
enhancement in better way. Budget are major and important deliverables to meet business goals
and objectives by giving confident financial decisions that proved advantageous for jet2holidays.

Budgeting helps in estimating revenue of an organisation and accordingly an organisation can
plan their expenditures and can restrict not necessary spendings. That ultimately helps in
accessing results of business performance that give them positivity. Budget also supports to plan
money that ultimately helps in strategic planning and their objectives.
Hence it can be said that budgeting is one of most important aspect for an organisation to
comply with major changes and build modifications accordingly. It also proved beneficial to
evaluate performance of an organisation and identifying important variables.
CONCLUSION
From the above report it has been summarised that revenue plays crucial role in
organisational growth and enhancement that helps in growth and enhancement. For the effective
results organisation apply various tools and techniques that proved in enhancing performance of
an organisation. To coordinate each and every organisation applies HR life cycle that helps in
retain competitive staff members in an organisation. Legislations are very much important to
comply with changes and protect the self interest of employees. Budget plays very crucial role in
evaluation of profit and expenditure in an organisation.