Analysis of Travel and Tourism Business Toolkit Report - ABTA Ltd

This report provides a comprehensive analysis of the travel and tourism business, focusing on key aspects such as revenue management, HR life cycles, and financial statements. It begins by discussing the rationale and principles of revenue management, including market segmentation and forecasting, and then investigates how a specific sector applies these tools to maximize profit. The report then examines the HR life cycle, exploring recruitment, training, motivation, evaluation, and retention strategies, alongside a performance management plan. Furthermore, it delves into relevant legislation, including company, employment, and contract law, and their impact on business decision-making. Finally, it explores different types of financial statements, the importance of budgets, and variance analysis within the travel and tourism industry. The report uses ABTA Ltd as a case study, providing practical examples and recommendations throughout.

Travel and tourism
Business Toolkit

Table of Contents
INTRODUCTION ..........................................................................................................................3
P1 Discuss the rationale and principles of revenue management for the travel and tourism
industry........................................................................................................................................3
P2 Investigate how a specific sector of the travel and tourism industry applies revenue
management tools to generate and maximise profit ..................................................................5
TASK 2 ...................................................................................................................................6
P3 Review the different stages of the HR life cycle applied to a specific travel and tourism job
role, and their importance for retaining and developing talent...................................................6
P4 Develop a performance management plan for a specific travel and tourism job role,
applying techniques to resolve negative behaviour and to overcome issues of staff retention .7
TASK 3..........................................................................................................................................10
P5Investigate particular legislation that organisations in travel and tourism industry has to
correspond to ............................................................................................................................10
P6 Using specific examples, illustrate how company, employment and contract law has a
potential impact on the business decision making in the travel and tourism industry .............10
TASK 4..........................................................................................................................................12
P7 Explore the different types of financial statements and reporting mechanism for
organisation within the travel and tourism industry..................................................................12
P8 Explain the importance and value of budgets for controlling business performance and
identifying variance...................................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
Books and Journals...................................................................................................................14

INTRODUCTION
Travel advert to activity of transferring from many place like from one place to another
place and that travelling might be long distance or might be short distance and many variety of
this. Travel company belong with several different features to the broader employment and
facilities company provide to the requirements and wants of those person that move from one
place to another place to increase and acquire essential visual percept. Individual or many
company impart many attempt in the regards of economy and also to cater job opportunities and
possibilities to broad number of individuals. This report is based on ABTA Ltd company
working as ABTA. This is the travel association and famous as the Organisation of British
Travelling Businessperson, is a commercialism organisation for tour function and travelling
businessperson in the UK company. This context is explain about the principle of revenue
management and procedure of the company that used various define equipment’s to create
earnings. More , This report define the different various level of life cycle of HR in the
particular occupation for enhancing talent and set up the execution management program to
reduce and minimise from several problems (Bastenegar, Hassani, and Bafruei,2018).
P1 Discuss the rationale and principles of revenue management for the travel and tourism
industry
Revenue Management
Management of Revenue is the postulation that is connected to the controlled synthetic
that calculate the activities of the customer at small level in order to analysis and evaluate the
accessibility of goods for raising the revenues in the positive way. In regard of ABTA
company , this company applied several equipment’s to handle their informant to gain and
enhance potential and effective outcomes.
Importance and Rule of Revenue Management in the industry:
Importance:
Revenue Management perform a much effective and important role for the company.
This is classified as giving and providing appropriate room at the appropriate value on the
correct time to accomplish trueness and faith of customers. In regard of the company of Tour
and Travel in that management of revenue drawn-out over the discussion, restaurants and

several types of regenerated amenities like Spa, breakfast, golf courses Because they give
several facilities below one cover. Travel and tourism industry operative elements are
particularly decay-able in creation if the building and restaurants and further services are not
oversubscribed till today then this cannot stay or clasp in stock. This can be say that boss of the
tourism industry must assure revenues accomplish trade contour. To development in the gross
for gaining more earnings is much important to analysis value of revenue management In the
context of travel and tourism company(Cai, and Southall, 2019).
Rules:
The principles involve many things and these points are mentioned below:
Market Segmentation: According to the rules of the management of revenue the
consumers divided into two portions which are competent are non-competent. In this context
section of market trust on several property or dimension of customers that change and permit an
company to develop and gain their revenues and income. In regard of ABTA company they
formulated strategies and plan of actions to develop and gain income and revenues.
Historical demand and way of booking: To develop and create income and profits in
regard of ABTA, they forecast request that is depend in existent information and engagement
forms of its possible customers to connect their upcoming requirements and needs in a suitable
manner. So according to the ABTA company , it stated that by using several rules and principles
a company can create one of the finest goods and services to increase their popularity in the
market and to stay in more competition in the industry.
Equipment’s of revenue management in Tour and Travel company:
In many organisation quantity of equipment’s utilised for creating more earnings and
profit and market share and these equipment’s are explained below:
Capacity utilisation: Utilisation of various equipment’s a company is capable to assume
the needs of facilities and employment so that a customers can receive and increase perfect and
hygyu effective results. In regard of mentioned organisation ABTA , the company predict
request of customers to gather and collect essential and needed results for them (Dickinger, and
Lalicic, 2017).
Allocation of discount: Several equipment’s of management of revenue applied by a
company to provide various types of benefits to the consumers so that this support the customer
to take appropriate decision to purchase a product quickly. ABTA company cater too many

services like provide vouchers to their customers so that will help them to gain and increase
much profits and earnings.
P2 Investigate how a specific sector of the travel and tourism industry applies revenue
management tools to generate and maximise profit
In the company there are several quantity of management of revenue equipment’s should
be utilised increase and attain effective results. There are different types of equipment’s and in
this one of them are scheme or concept of pricing that are so needed and important for the
company as well as for the customers to trade supreme services to the supreme and loyal
customers in a very positive way(Ferreira, 2019). So there are some effects of the strategies of
pricing on the management of revenue of a company in regard of rules and relevancy in the
company:
Effect of differentiated pricing strategies on the management of revenue:
Distinction is the major and much crucial for an company in that a company append one
of the finest cost that depend on several types of components like buying of products style of the
consumers, request, situations of economy, and so many more. Several equipment’s of the
management of revenue create affects in the positive manner that it qualify to point out at broad
magnitude or level to customers, increase organisation possibilities because if costing is lower
than customer pull for the buying its goods and services. On the further part negatively that a
individuals sensed dim attribute of their goods and shackle marque worth negatively(Stainton,
and Iordanova, 2017).
Principles of Revenue Management
Forecasting: Through applying various different rules in company then a company
become capable to forecast demand and supply to attain and take more effective and potential
results.
Monitor: Several and many rules of management of revenue support to keep data of
entire cognition and data to analysis and acknowledge buying form in very suitable and proper
manner.
Control: For an company it is very important and effective to formulate and control the
entire functions of the company like cost, value of impute ,values of employment and some
more.
Application of revenue management

Revenue management rules are used in a broad organisational environment because as it
qualify to separate industry on the basis of many like way of customers to buying, needs and
requirements of the goods , in regard of the ABTA company , This company increase the rates
during winter season because as peoples going somewhere at this season(Filosofova, and
Apostolov, 2017).
TASK 2
P3 Review the different stages of the HR life cycle applied to a specific travel and tourism job
role, and their importance for retaining and developing talent
Human Resources has a very identical and specific type of life cycle that support to take
care of each type of effective needs of an person in a very efficient and potential way. In the
company ABTA using different cycle to develop retention proportion of workers and these are
mentioned below:
Recruitment: There are several types of activities of HR in the company . HR life cycle
activities has been start from hiring the correct and potential employees for the company so that
the person can give their better and effective contribution towards the company because hiring is
play a very much effective and important role in the company to minimise the problems and
anxiety of turnover of workers. In ABTA company as they perform or execute at the very high
level so the company wants one of the much talented and potential personality in their company
so this company execute many test round so that , they can identify the best personality for the
company(Gibson, 2017).
Education: In the ABTA company they start training process firstly when the person or
any individual start operating in the company for the specific department or field. By using the
education procedure a company can achieve their motives and capable to provide finest and best
concepts to attain best and effective results from the employees.
Motivation: Now' a day’s company surroundings turnover is become so much that
straight create effects on company execution and presentation of the company and also create
effects on the profit and earnings of the company. In The ABTA company they inspire and
motivate their employees by providing bonus , promotions , job security , insurance of health
for entire family or the employees to gain more best results from them and to maintain the
attrition rate of the company.

Evaluation: In several phases executive of program analysis the execution of the
workers and asked them to provide their reviews then the employees come and give their
feedbacks to their managers and on the particular types of prosody to set for a particular
occupation role. In the company ABTA , they introduce and plan the executions proposition that
are dependent on several truths and figures that analysis the presentation and actions of the
employees and then they give rewards and appraises according to the values of the
workers(Greenwood, and Dwyer,2017).
Celebration: There are so many stages of HR life cycle and this stage of the cycle cater
the opportunities and possibilities to reenergize the workers so that the they can provide their
appropriate and best efforts in the company and also for their own enhancement in very effective
manner. In regard of ABTA company HR life cycle verified advantages for the company to give
motivation and development to increase their productiveness so that these things straightly
develop and increase their level of inspiration. For every company retention rate of workers play
a very effective and important role because as they give some procedures like training and
development and education, several types of appraises and motivation to increase best and very
effective results. These various kinds of this cycle support to measure inceptions behind like
deficiency in education , trainings and development programs, deficiency in motivation and
surroundings and so many more also(Smith-Tran, 2019). It has been advised that a company
have to concentrate on the development portion or to increase the motivation level so that they
stay in the market with more popularity and competition(Ho, and See-To, 2018).
P4 Develop a performance management plan for a specific travel and tourism job role, applying
techniques to resolve negative behaviour and to overcome issues of staff retention
Performance management is series of functions and programs that are acquire by the
company by positioning organisation department with their informant to gain and acquire goals
and aims or target objectives of the company. In regard of the company ABTA , their
occupation role of manager of marketing are mentioned below:
Job Title: Marketing Mangers
Department : Marketing Department
Organisation: ABTA Ltd.
Date: 08 January 2021

Improvements
objectives
Success Criteria Additional Support
required
Objectives Outcome
For eliminate
unfavourable
behaviour of the
workers
For an company to
destroy unfavourable
attitude need to use
the procedures of
education and training
and development
sessions, and by
providing motivation
and encouragement
and more appraises to
maintain and increase
the effective result for
the company
To enhance and
amend the
performance and
presentation of the
workers required to
plan a procedures of
education and training
and development so
that a company can
give more efforts to
their employees and
create a better and best
positive environment
in the company.
In regard of ABTA
Ltd company they
attain and increase
effective results by
applying several
different equipment’s
and techniques to
increase their
profitability in the
market and to stay
more popular and
maintain competition
in the industry.
Minimising and
reducing the problems
of staff retention
For holing the staff in
the company , it is
much important and
needed to analysis and
identify the issues of
the employees that
why they do not want
to continue in their
occupation and after
identifying the behave
and take actions
accordingly(Kiage,
2018).
In context of ABTA
Ltd company manager
of marketing team
initiate a feedbacks
from the workers , is
they having any issues
in the company, and
what are the mode that
will help them to
amend and enhance
their level of
motivation and
encouragement.
By applying so many
approaches and
concept, an company
make them able to
increase and attain
more effective and
potential results to
continue and hold the
employees that are
very talented and best
in the company
because the employees
increase and raise the

value of the company
or value of the brand.
So from the upper mentioned script it has been analysed that for the company it is very
much needed and important to determine and find out the distance and what are the reason
behind the less productivity and less development level of the employees so that they can amend
and develop the level of services and tools that boost the confidence and interest level of the
employees and then it became more beneficial for the company to gain and acquire more
effective and best result and increase their popularity and competition level.

TASK 3
P5Investigate particular legislation that organisations in travel and tourism industry has to
correspond to
Numerous legislations policies are formulated in order to govern and operate the functions of the
organisation carrying out their operations in tourism and travel industry. The organisation needs
to combat with various legal formalities so as to conduct their trade national markets and
international markets(Kim, and Preis, 2020). The legal formalities that ABTA needs to take into
consideration in order to facilitate the smooth functioning of its organisation's operations is as
follows :-
Health and Safety, 1974
ABTA is required to follow the respective act in order to ensure the safety of the employees in
the organisation so as to eliminate the risks associated with spread of viruses, diseases and other
physical dangers. This act helps the company to promote and encourage a healthy working
environment in the organisation and to leverage the benefits associated with the same in the long
run(Sisriany, and Fatimah, 2017).
Equality Act, 2010
The organisation needs to follow the Equality Act in order to implement a structure in the
company wherein every individuals irrespective of their gender, age, colour, race, culture,
nationality etc. is treated with equality. The concerned act also provides assistance to the
company in order to encourage the employee es in achievement and fulfilment of the
organisation goals in a productive manner.
Minimum Wages Act
According to the respective Act, ABTA needs to provide the minimum pay and salary to the its
working employees in accordance with their role in the organisation. This is essential for the
company so as to motivate the consumers in order to give their best performance in the
organisation(Mayakul, Kiattisin, and Prasad, 2018).
P6 Using specific examples, illustrate how company, employment and contract law has a
potential impact on the business decision making in the travel and tourism industry
The company travel and tourism has applied so many principles and regulations for planning
and introducing activities of the company and also operations that are performed in appropriate

manner by applying of some laws. The organisations that operate in the tourism industries has to
comply in accordance with the laws prescribed for the same. The laws implemented by the
government has the ability to affect the decision making criteria as well. Few of the laws that
needs to exercise by the ABTA are as follows :-
Contract Law
It can be characterized as a law that aims to promote and protect the rights of the individuals
entering into a contract(Önder, Gunter, and Scharl, 2019). ABTA has also incorporated the law
in its management so as to broad the guidelines of the contract to the buyers, sellers, traders,
consumers etc. in a systematic and formal way in order prevent any future condition of conflicts
and confusion in the company.
Employment Law
The purpose of employment law is to guide and determine the relationship of employees with the
organisation. The law is exercised by ABTA at the time of employment of the candidate and
even after the selection of the same in the respective organisation. This law assists in enhancing
and alleviating the effective communication among the organisation and to eliminate the barriers
associate with the same. The employment law has also facilitated ABTA in regulating its
personnel management effectively and efficiently in the business organisation(Papetti,
Christofle, and Guerrier-Buisine, 2018).
Company Law: This law is also known as the corporate law, in this law authorities or
government of the country has to examine the rights and responsibility for their stake holder or
government employees , creditors, investors and some more. Every and each company directing
their organisation and operate at the marketplace where they have to follow and applied so many
rules and laws for their enhancement and development and for acquiring best results. This things
and laws leads to direct a business in a very appropriate and suitable manner so that they can
take and attain positive results for their company. There are so many organisation that applied
these laws because the reason is they want to take decisions of the company according to the
responsibility , roles , obligation and rights of several stakeholders.

TASK 4
P7 Explore the different types of financial statements and reporting mechanism for organisation
within the travel and tourism industry
Financial statements is explained as the context that are planned and introduced by the
management and directing team of the organisation to show position and also financial
presentation and execution at the specific period of time(Pohjola, Lemmetyinen, and
Dimitrovski, 2020). This is braced and introduced by every and each company for analysing
and identified their exact financial condition and situation. This report is prepared at the financial
period of the company. In regard of travel and tourism company , they made various kind of
financial statements and coverage execution and performance that should be acquired by the
company ABTA Ltd and these are mentioned below:
Income Statements: It is defined as centre financial statements that meditate or show
profit and loss upon a specific time of period. There , profit and loss is determined after issuing
all earnings and compute expenditure from working and non – working functions. This is create
by ABTA Ltd company to analysis and identify their entire earnings that is attained by the
activities of the company. This will present earnings and loss that are depend on the company
whether they have make any earnings or change loss during a specific time of period.
Balance Sheet: This is also known as the statement of financial situation or point that is
conclusion of the financial balances of the company. This is much needed and crucial for the
company because this will support in presenting the yearly position of the company for
provided time of period. The statements of financial year is made by the ABTA company for
analysing and identifying the actual financial condition of the company. This will show entire
assets that is possessed by many companies and liabilities that are paid to the debtors , providers
and some more.
Statements of Cash Flow: This is explained as a statements that present in flow and out
flow of the money of the company for a particular period of time. This statements is categorised
into three activities like operating , investing and financial(Samarahan, 2018).
So, This is very required for the ABTA company to prepare all financial statements to
identify about their actual position.