International Travel & Tourism Management: Revenue Strategies Report

This report examines revenue management principles and practices within the international travel and tourism industry, focusing on maximizing profit through various strategies. It explores the rationale behind revenue management, emphasizing the importance of value, distribution channels, and data-driven decision-making. The report delves into how the hotel sector, as a specific segment, employs revenue management tools like website management and demand forecasting to optimize revenue. It also addresses crucial legal and regulatory aspects, including health and safety, equality, and data protection acts, and analyzes the impact of company, employment, and contract laws on business decision-making, specifically referencing Carnival Corporation & PLC. The report covers topics like direct booking strategies, loyalty programs, and the significance of accurate consumer data for informed marketing efforts. Overall, the report provides a comprehensive overview of revenue management strategies and their practical application in the travel and tourism sector, alongside an analysis of the relevant legal and regulatory landscape.

The International Travel & Tourism
Management Business Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................3
P1 Examine the rationale as well as principles regarding revenue management for tourism and
travel industry..............................................................................................................................3
P2 Determine how a specific sector implies revenue management tools to maximize profit.....4
LO3..................................................................................................................................................5
Covered in PPT............................................................................................................................5
P5. Legislation that needs to be followed by travel and tourism company.................................5
P6. Company, employment and contract law impact on business decision making...................6
LO4..................................................................................................................................................7
Covered in PPT............................................................................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Travel and Tourism field deals with taking care of travel management, tourists,
hospitality management, tour management and many more. The professionals of tour
management may also manage the travel modes, accommodation, tour program as well as overall
stay of such tourists within all over world. Tourism management deals with the all the actions
that are related to the tourism industries (Dang and et.al., 2016). It is a field that able to prepares
people with interest ,training for management positions within food, tourism as well as
accommodation within the tourism industry. Present study focuses on rationale as well as
principles regarding revenue management for tourism and travel industry. It also focuses on
Determine how a specific sector of the travel as well as tourism industry implies revenue
management tools to maximize profit.
P1 Examine the rationale as well as principles regarding revenue management for tourism and
travel industry.
The broadly accepted on the revenue management clearly focuses that the local time and
Surroundings, its rooms to the right people at the right prices accompanied by right efficiency.
Mention below are various principles of the revenue management
Value
When its about to manage the hotel there must be understood that it revolves around value. Here
discussed about the advertise to t potential people but also perceived the value can be gathered
by surveys and feedback. Perceived value and advertised value must be kept within a minimum
all the times so all the consumers are not disappointed. Thus, most guest seek hotels at online as
well as minimal to the no discrepancy within these two value it will aids you to get good
reviews online as well as attract the more number of the consumers. To enhance this value
managers of Carnival Corporation & PLC makes the improvement to the consumer service as
well as increases food and drink quality as well as packages also secure private parking and
many more (Goldbarg and et.al., 2018).
Distribution channel
It is also known as the marketing channel. Here marketing budgets regarding independent hotels
are very limited when its comes to about the marketing of resources that's why managers of
Carnival Corporation & PLC has to choose the perfect marketing channel. To address such

issues there is a need of developing a strategy called direct booking that will gives services that
offers various marketing opportunities.
It is also recognized that when the guests can book the hotels with other external partners. The
downside of such of this is to allow the guests to become loyal to their partner instead of the
Carnival Corporation & PLC firm. For that ordering this kind of issues there is a need to develop
a strategy where there is a need of to increase the loyalty of the visitors by booking initiatives.
These are the kinds of the hotels that provide the reward to their clients who booked hotel within
such area. There are also loyalty programs that are considered as an excellent method so that it
can prevent such kind of the behavior.
Managers of the firms should always make various decisions that are based on the
accurate as well as recent data. That's why hotels should keep the crucial information within their
records. Pilling up the useless information can utilize the management to get lost in while loosing
chances to recognize various trends (Chen and Peng, 2018). As the key to the success within
travel and tourism is need of relevant data. As majority of the successful travel and tourism
firms are keeping tabs the behaviors of the consumers. However, its makes the process easy as
Carnival Corporation & PLC firms has a software system that can be considered as one of the
favorite tools of the managers of the firm. Keeping focused on the efforts of the marketing as
well as recognizes the marketing channel it brings the most as well as least guests to their doors
that aids to adjust their efforts. The information coming within the form of the feedback of the
consumers are very vital as it aids to identify pain points as well as makes the needed
improvements. So makes sure that the eyes that are peeled for the comments on social forums
and social media that can popularly used through tourists.
P2 Determine how a specific sector implies revenue management tools to maximize profit
here, hotel sector from travel and tourism implied revenue management as :
Website management
It also falls into the category of the revenue managements as the experiences of the guest
begins from what the websites offer as the top managers that to put themselves within the shoes
of the visitors. The websites assists to find them to almost each and everything they require.
They can also done it by making the websites more friendly to the mobile as more number of
guests are accessing the web through the help of the smartphones. In order to enhance the
online presence of the people there is an need to start the blogging section on their websites as

well as also share the new content on Carnival Corporation & PLC social media profile. Through
targeting specific keywords such as easily helps the search their inquiries from the people who
are looking for the place when they need of traveling.
Demand forecasting
It is one of the most crucial things within the revenue management within this order it cannot
exceed the budget limits as a manager of Carnival Corporation & PLC has to know the projected
revenues, cost and needs. By mapping the demands there is a need to identify the trends of
booking as well as forward the information to making the information to the marketing
department to the custom tailor the initiatives of the future (Chen and Peng, 2018). As accurate
mapping also provides the metrics such as average number of the consumers spending as per
their location, age, gender as well as type of the reservation as well as average consumers stay
per chosen category. All of such metrics are very vital as well as using them so that they can
shape futuristic initiatives will enhance the tourism.
LO3
Covered in PPT
P5. Legislation that needs to be followed by travel and tourism company
There are various laws rules and regulations that needs to be followed by travel and tourism
company. These laws which are discussed below also have impact on business decision making
of Carnival Corporation & PLC. It includes the following:
Health and Safety act 1974: In this it is really necessary for Carnival Corporation to
follow this act as implied by United Kingdom’s parliament. Firm needs to make sure that
employees who are working with them are provided with safe and secure working conditions.
They need to make sure that no employee works in hazardous working conditions that lays
emphasis on their health (Dang and et.al., 2016). It is also being analysed that it is the duty of
employers to provide instruction, training and supervision to employees working with them to
take reasonable care and precautions. This will assist Carnival Corporation & PLC in retaining
employees and also it will help them in creating employee loyalty. Company must make sure that
health insurance is been given to all employees in order to improvise their health aspects. Also
they must make sure that proper fire hazards is being maintained in company which can be used
at the time of emergency.

Equality Act, 2010: This act can also lay impact on the business decision making of
Carnival Corporation & PLC. They need to be engaged in making sure that all employees who
are working with them needs to be treated equally and also same opportunities must be provided
to workers who are working at the same level. This will assist them in increasing employee
satisfaction and experience of them. Company also must make sure that they are not engaged in
doing unfair treatment and promotes a fair and equal treatment. This will help Carnival
Corporation in achieving goals and objectives. It will help them in increasing belongingness of
workers. Following this act will also make working environment better as employees will be
satisfied when equal opportunities are being provided to them. If Carnival Corporation & PLC
does not follow this law than it can lay negative impact on mind of employees. They can become
aggressive and this can increase employee turnover.
Data protection Act, 2018: Carnival Corporation & PLC also needs to follow this act as
given by UK government. In this they must make sure that no personal data of employees are
being leaked as this can hamper goodwill of firm. Also company needs to be engaged in giving
full privacy and protection to personal information of employees. Firm also needs to make sure
that information related to consumers also must not be leaked. This will assist company in
increasing their brand reputation and goodwill. Carnival corporation must make sure that
information is being used fairly, lawfully and transparently. This will also make company’s
working environment better. It will create employee loyalty in organization.
P6. Company, employment and contract law impact on business decision making
The employment and contract law which is being given by UK government has huge impact
on decision making of Carnival Corporation.
Employment law 2019; This law lay emphasis on employees, workers and the self-
employed. It focuses on major aspects such as bullying and harassment, equal pay, maternity
leave, discrimination on basis of sex, religion, gender, discrimination on basis of marital status. It
has been analysed that Carnival Corporation needs to be engaged in making sure that no
harassment exists with female employees who are working with them. They also need to provide
safe and secure working environment to all female’s employees. It has also been analysed that
firm also needs to be involved in making sure that equal pay is been given to employees and
there is no discrimination taking place in organization on basis of gender, sex, disability,
religion. All these rules and regulations given by UK government has an impact on business

decision making. HR department of Carnival corporation can bring upon the policies related to
avoiding the discrimination. They also need to be engaged in providing privileges to females
during their maternity time. Also no discrimination must exist in workplace based on marital
status. As this will hamper the working conditions. If all these are not followed in organization
than it can lay negative impact on mind of workers. This can increase turnover of company.
Company law 2006: This law lays emphasis on how a company can conduct its business
aspects. It can own assets, owe obligations and raise money independently through debt, equity
or a hybrid of both (Goldbarg and et.al., 2018). Carnival Corporation & PLC needs to make sure
that they are engaged in taking up all the issues related to corporate governance. They need to
ensure that employees, stakeholders and other people working with them are paid on timely
basis. Also the shareholders are being provided with profit and proper share of their dividend.
This will assist Carnival Corporation creating wealth and making the environment of company
better. It is really essential for the growth of organization to address all these laws, rules and
policies.
Contract law: In this organization needs to provide the services to the person from which
contract has been made. They must make sure that there is not short coming in doing the
payment on which contract has been made. This will make the contract null and void. Also the
company needs to make sure that all legal documents are been provided to the other party when
they are engaged in making the contract. Carnival Corporation & PLC needs to follow all these
aspects (Chen and Peng, 2018). This will assist them in making good impression. It will also
assist firm in growing and achieving goals and objectives. They must make sure that the contract
between them and third party is legally binding. No contract must be made by them on illegal
basis. This will hamper the goodwill of the firm when they are engaged in illegal contract. So
firm needs to lay special emphasis on this aspect.
LO4
Covered in PPT
CONCLUSION
From the above study, it has been summarized that company has been engaged in
implementing various rules, laws and regulations in order to achieve their goals and objectives.
They are making sure that workers in firm is been provided with safe and secure working
conditions. This has assisted them in growing and achieving their short term as well as long term

goals and objectives. It has also been summarized from the report that company is been engaged
in making use of various types of financial statement like balance sheet, income statement, cash
flow. All these have assisted firm in knowing about the assets liabilities. It has also helped them
in analyzing total cash inflow and outflow.

REFERENCES
Books and Journals
Chen, A. and Peng, N., 2018. Examining consumers’ intentions to dine at luxury restaurants
while traveling. International Journal of Hospitality Management.71. pp.59-67.
Dang, H.S. and et.al., 2016. An application of the short-term forecasting with limited data in the
healthcare traveling industry. Sustainability. 8(10). p.1037.
Goldbarg, M.C. and et.al., 2018. Integer programming models and linearizations for the traveling
car renter problem. Optimization Letters. 12(4). pp.743-761.
Han, H. and Hyun, S.S., 2018. Role of motivations for luxury cruise traveling, satisfaction, and
involvement in building traveler loyalty. International Journal of Hospitality
Management, 70, pp.75-84.
Han, H., Yu, J. and Kim, W., 2018. Youth travelers and waste reduction behaviors while
traveling to tourist destinations. Journal of Travel & Tourism Marketing. 35(9).pp.1119-
1131.

Wu, J. and et.al., 2019. Mixed steepest descent algorithm for the traveling salesman problem and
application in air logistics. Transportation Research Part E: Logistics and Transportation
Review.126. pp.87-102.
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