Travel and Tourism Business Toolkit Report: Revenue, HR, Legislation

This report provides a detailed analysis of the Travel and Tourism Business Toolkit, focusing on revenue management, HR lifecycle, and relevant legislation. The report begins by examining the rationale and principles of revenue management, including market segmentation, demand forecasting, and overbooking control, and then explores the application of revenue management tools to maximize profit, such as capacity utilization, discount allocation, and duration control, with specific application to Thomas Cook. Furthermore, it assesses the impact of differentiated pricing strategies. The second part delves into the different stages of the HR lifecycle, performance management plans, and the importance of the HR lifecycle within the tourism sector. The report then analyzes financial statements and reporting mechanisms, including income statements, cash flow statements, and balance sheets, providing interpretations and evaluating business performance. Finally, it covers specific legislations within the travel and tourism industry, the impact of company, employment, and contract law on decision-making, and potential implications of regulations and ethical principles on business operations, culminating in a conclusion that summarizes the key findings and recommendations.

TRAVEL AND
TOURISM
BUSINESS
TOOLKIT

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
LO 1.................................................................................................................................................1
Rationale and Principles of Revenue Management................................................................1
Application of Revenue Management Tools to Generate and Maximise Profit....................2
Impact of Differentiated Pricing Strategies on Revenue Management..................................3
Critical Analysis of Principles of Revenue Management.......................................................3
LO 4.................................................................................................................................................4
Different Types of Financial Statements and Reporting Mechanisms...................................4
Importance Budgets for Controlling Business Performances and Identifying Variances......5
Interpretation of Financial Statements and Reports...............................................................6
Evaluation of Business Performance based on Financial Statements and Reports................9
PART 2..........................................................................................................................................10
LO 2...............................................................................................................................................10
Different Stages of HR Life Cycle.......................................................................................10
Performance Management Plan............................................................................................12
Importance of HR Life Cycle...............................................................................................14
Judgement and Recommendations.......................................................................................14
PART 3..........................................................................................................................................15
LO 3...............................................................................................................................................15
Specific Legislations that Travel and Tourism Industry have to comply.............................15
Impact of company, employment and contract law on business decision-making..............15
Examination of potential implications of regulations, legislation and standards on decision-
making..................................................................................................................................16
Critical Reflection on Potential Impact of Regulations, Legislations and Ethical Principles on
business decision-making.....................................................................................................17
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................18

INTRODUCTION
Travel and Tourism includes all the activities that are associated with travelling,
entertaining tourists, accommodating and maintaining leisure of travellers (Travel and Tourism,
2019). This industry is very much vast and covers a wide range of sectors that are inclusive of
aspects like travel planning, accommodation, tourist attractions, transport, food, leisure, etc. The
report below is based on Travel and Tourism Business Toolkit, for which Thomas Cook
organisation is selected. The report is divided into three parts which includes Sales, Budget and
Revenue Management, HR Life Cycle & Human Resource Strategy and Legislation & Ethics in
Travel and Tourism.
PART 1
LO 1
Rationale and Principles of Revenue Management
Concept of revenue management: Revenue Management refers to effective and essential
procedure within the organisation associated with appropriate anticipation of consumer demand
to optimise inventory as well as price availability, which then assists the firm in maximising their
revenues.
Principles of revenue management within travel and tourism industry:
 Market Segmentation:
The very first principle of revenue management is market segmentation. This is a process
that is used within the industry to divide the whole market within potential segments, where
specific attributes are given importance regarding effective division of the marketplace. Within
the travel and tourism industry, specific rates are decided on different segments, from where
there could be maximum revenue generation.
 Demand Forecasting:
Another principle of revenue management is Demand Forecasting. Within this principle,
the industry appropriately anticipates the rise or fall of demand within different travel and
tourism activities. However, there could be two situations that are likely to arise in this principle.
For instance, in case there are high forecasting mistakes within the industry, its outcome is
conservative inventory controls. On the other hands, in case low forecasting errors are performed
within the industry, it would result in aggressive controls over inventory.
1

 Overbooking Control:
This principle is associated with the process of managing overbooking within the
industry, wherein bookings are made in bulk but people do not show up (Pont, 2014). Thus, this
principle deals with the fact that managing overbooking effectively could lead to appropriate and
effective revenue generation, which could otherwise be a big concern for the industry.
Application of Revenue Management Tools to Generate and Maximise Profit
There are several revenue management tools that could easily be applied within the travel
planning sector of Thomas Cook to ensure generation and maximisation of profit. Some of the
key tools regarding the same are discussed below:
 Capacity Utilisation:
The very first tool in order to enhance profitability is capacity utilisation. This tool deals
effectively with utilising and managing the available capacity in manner that helps the company
in full occupancy. However, this is ongoing process which is adopted within travel planning, as
this goes effectively till the execution of overall event or tour. Moreover, one appropriate way
through which this tool could be effectively utilised by Thomas Cook is to provide attractive
facilities and no-cancellation policies, which encourage individuals to ensure full capacity.
 Discount Allocation:
This tool is associated with providing discounts in manners that encourage individuals in
terms of adopting the facilities provided by the firm. Travel Planning is the sector wherein
demands could be created by providing discounts on locations or facilities that have potential to
generate high demands. This demand could be used by Thomas Cook to appropriately drive
customers towards their provided offerings and enhance the scope of profitability.
 Duration Control:
It deals with charging limits upon acceptance of reservation requests in manner which
allows the organisation to protect adequate space for multi-day requests, that might enhance the
scope of more profitability for the company. Thomas Cook could hold in several spaces within
its reservations for last moment bookings which could effectively generate higher revenue due to
being in demand.
Apart from above revenue management tools, Thomas Cook can use few other tools as
well with the help of information technology. These tools are automated booking engine (which
2

can manage all the booking of travellers) and Online channel manager (which can automatically
manage all the inventory).
Impact of Differentiated Pricing Strategies on Revenue Management
Differential Pricing strategies refer to a procedure of charging different prices on similar
product or service offerings depending on attitudes. Specific impacts on different strategies are
mentioned below:
 On basis of Offering:
Sometimes, during travel planning, different destinations are priced at different price
rates. For instance, pilgrimages or spiritual places might cost less to elderly to encourage others
to join in. Impact of the same is that the firm might assure profitability for itself in context with
providing different destinations on different prices on the basis of demands of offering.
 On basis of Payment Terms:
There are several modes of payments as well as different payment policies regarding
specific offerings. Thus, differential pricing on payment terms could mean charging lower rates
on payments made through credit or debit card companies, which the firm is associated with.
Such aspect has a positive impact on the company as more users are encouraged to associate
themselves with other companies which have ties with the firm and thus, this is another source of
revenue for the firm.
Critical Analysis of Principles of Revenue Management
 Market Segmentation:
Thomas Cook deals in several sectors within travel and tourism industry. However, the
most prominent sector within the same is travel planning. Market segmentation is effectively
applied within this sector as the firm segregates the market according to age, preferences as well
as types of tourist activities. However, the segmentation of the company lacks on the grounds of
providing a variety of activities, which results in lesser segments, thus, limitation in revenue
generation.
 Demand Forecasting:
Within travel planning, forecasting demand is very much essential in terms of ensuring
high revenue generation. In Thomas Cook, Demand Forecasts are performed on the basis of
current performance of different travel and tourism attraction, moreover, prevailing trends as
revealed by google analytics and other essential software. This assists the firm in focusing on
3

resources having high revenue potential. However, locations and activities within the firm are
limited, which revokes it to generate higher revenue in case demand arises for specific activity or
place that is outside their scope.
 Overbooking Control:
Within Travel Planning, Thomas Cook takes an effective approach towards controlling
the overbooking issue within the industry. It does so by effectively adopting a “No Refund
policy”, which guarantees maximum booking and effective revenue generation. However, a
better approach could be to deliver a timeline along with the policy, wherein maximum bookings
would be done and locked up, to ensure maximum scope of revenue.
LO 4
Different Types of Financial Statements and Reporting Mechanisms
Financial Statements are the projections within the company which reveal its
performance in quantifiable terms. There are different types of financial statements within an
organisation, some of which in context of Thomas Cook are mentioned below: Income Statement: This is the report within an organisation, which appropriately reveals
whether the firm was able to generate profit or not. For Thomas Cook, this reveals all the
details within the firm's operations which contribute to income and profitability. This
report includes all the expenditures which organisation has occurred in order to operate in
market which are deducted from total revenues to ascertain net profit earned. Cash Flow Statement: This statement effectively shows all the sources, as well as the
amounts of cash which is flowing in as well as out of the organisation. This is a very
important statement for Thomas Cook as it projects information regarding where the firm
is spending as well as acquiring its liquid money from.
 Balance Sheet: It is a statement which effectively showcases the assets as well as
liabilities left with the firm after a specific term. This allows Thomas Cook to focus and
emphasises on areas of concern that are associated with their liabilities.
There are several reporting mechanisms of these statements that are discussed below:
 Real-Time Information: The statements within Thomas Cook must be formulated in
order to present real time information to its readers, to assess the present situation of
the firm.
4

 Transparency: All the information and projections within these statements offered by
Thomas Cook must be transparent, with each and important aspect highlighted and
calculated ethically and effectively.
Importance Budgets for Controlling Business Performances and Identifying Variances
Budgeting refers to an effective procedure within the company that helps in identifying
expenditure estimates as well as anticipation of revenue within the firm (Fuchs, Höpken and
Lexhagen, 2015). To control business performances within Thomas Cook, budgets are highly
crucial. Some of the points reflecting its importance are mentioned below:
 It effectively helps the firm to anticipate its revenue, along with effectively planning
expenses of the firm that contributes in its profitability.
 Moreover, performance of business could also be reflected using budgets as it controls
priorities of business.
 Budgets ensures that allocation of money is performed only on those areas that align with
strategic planning of the organisation.
Along with controlling business, budgets also help in identifying variances which occur in an
organisation. Variance is the difference which is seen between the set standards and actual
outcomes. Few points reflecting importance of budgets in identifying variances are:
 Organisations dealing in travel and tourism industry like Thomas Cook prepares
operational budget of their business activities and for their related costs. After
completion of an operating year, they compare their budget and actual operational
expenses sheet by which variances are identified. These variances are monitored to
decrease the chances of such deviations in future.
 Budgets such as cash budget and sales budget are also prepared to ascertain variances
between actual and budgeted revenue in order to effectively conduct revenue
management.
Interpretation of Financial Statements and Reports
Within Thomas Cook, there are several financial statements and reports that are
effectively interpreted below:
 Income Statement:
5

Illustration 1: Income Statement
(Source: THOMAS COOK GROUP: ANNUAL REPORT AND ACCOUNTS 2018, 2018)
From the income statement of Thomas Cook, it is effectively interpreted that Gross Profit
of the organisation is £1,933 Million, whereas, the profit which the firm earned through
operations is £97 Million.
 Balance Sheet:
6

Illustration 2: Balance Sheet
7

Illustration 3: Balance Sheet (Contd.)
(Source: THOMAS COOK GROUP: ANNUAL REPORT AND ACCOUNTS 2018, 2018)
From balance sheet above, it could be interpreted, that total assets with the firm at the end
of September, 2018, were £6,569 million, whereas its total liabilities were, £6,278 million,
outcome of which, were net assets worth £291 million.
 Cash Flow Statement:
8

Illustration 4: Cash Flow Statement
(Source: THOMAS COOK GROUP: ANNUAL REPORT AND ACCOUNTS 2018, 2018)
From the above cash flow statement, it could be interpreted, that Thomas Cook generated
£139 million from its operating activities, and after investing and financing, generated a net cash
inflow of £1,038 million within the end of September, 2018.
Evaluation of Business Performance based on Financial Statements and Reports
Evaluation of Business Performance based on Financial Statements and Reports of
Thomas Cook are discussed below:
 From its income statement, it was interpreted that the firm earned a total revenue of
£9,584 million, which despite of being higher than its cost and other essential expenses
9

during the term, resulted in a loss of £163 million, which is quite an inappropriate
performance standard for the firm.
 From the company's balance sheet, the net assets of the firm after deducting liabilities
from assets were found to be £291 million, which reflects a strong performance of the
firm in terms of effectively managing its liabilities as well as assets which help in
generation of profit and revenue.
 From its cash flow statement, the firm has generated cash and cash equivalents of £1,038
million, while it spent £203 million in investments and £281 million in financing
activities, it reflects that the company has strong performance standards in terms of
investments as well as generation of cash.
PART 2
LO 2
Different Stages of HR Life Cycle
HR Life Cycle refers to the procedure within human resource management of an
organisation that appropriately describes all the steps associated with an employees' time with a
specific organisation. Within Thomas Cook, there are several designations as well as job roles
which undergo this cycle as an integral part of their tenure. Within Thomas Cook, one of the
most effective job roles is discussed below:
Tourist Operations Manager:
Within Thomas Cook, Tourist Operations Manager oversees all the tours as well as office
operations within the organisation. Individual within this job role is required to act as a business
representative as well as customer service management. Duties within this job role involves
effective system creation, in order to manage the operations within the company appropriately.
In addition, they are required to provide appropriate customer service, establish a constant
communication channel, manage and lead tours and maintain office operations and procedures.
Tourist Operations Manager is quite an appropriate job role to assess life cycle of an
employee within Thomas Cook. Thus, HR Life Cycle for this role is discussed below:
10

Illustration 5: HR Lifecycle
(Source: A Guide to the HR Lifecycle, 2019)
 Attraction:
The very first aspect within HR Life Cycle is Attraction. This requires the firm to attract
individuals towards the company and allowing them to get familiar with the firm's brand,
practices and perks. There are several appropriate methods that are used to attract individuals for
Tourist Operations Manager. For instance, the firm modifies its culture repeatedly in a way that
it is reflected outside the company as a benchmark for other organisations.
 Recruitment:
The next step of this cycle is associated with all the processes that leads up to hiring new
individuals for the role of Tourist Operations Manager. For this aspect, Thomas Cook develops
appropriate staffing plan annually, along with setting up interview protocols and criteria for
aptitude tests. This helps the firm to recruit only talented individuals, who are competent enough
to ensure effective performance as a Tourist Operations Manager.
 Onboarding:
After selection, this step undertakes introduction of new employees within the company.
This allows the firm to effectively enhance the chances of inclusion of the newly appointed
Tourist Operations Manager in the culture of this company. Induction trainings are used by
Thomas Cook to convey organisational values and brand, along with its culture, practices as well
as institutional performance and expectation from the manager.
 Enablement:
11

This is an extension of the previous stage wherein, Tourist Operations Manager
undergoes a detailed orientation which is performed as a conference-style event within Thomas
cook, where information about the company is delivered and doubts and questions of the new
employee are answered.
 Development and Retention:
This step is related to enhancing the performance standards of an employee (The Laws of
Human Nature, 2019). Within Thomas Cook, different performance management techniques like
performance reviews and training is used to ensure that employees like Tourist Operations
Manager is enhancing at their job role that ensures effective professional growth and
development. In terms of retention, the firm provides effective benefits like flexible work
schedules, incentives, etc. to ensure loyalty and engagement of manager.
 Separation:
The last stage of this life cycle is regarding the separation of employee from the
company. This could happen in variety of ways like retirement, resignation, downsizing, etc. In
context with Tourist Operations Manager, the firm emphasises upon ensuring that all procedures
and policies are appropriately followed, along with exit interviews and smooth separation of the
manager.
Importance of HR Life Cycle in Retaining and Developing Talent
This life cycle is quite important and crucial for an individual in context with retaining
and developing talent. This is because each step appropriately addresses specific actions, that
help employees become an integral part of the company. Moreover, the HR life cycle also
emphasises on strategies for performance enhancement, which helps in making employees and
managers more competent. These aspects within this life cycle makes it important to be inclusive
in an organisation to ensure effective development as well as retention of employees in an
effective manner. In terms of retention, HR Life cycle also emphasises on engaging and retaining
employees through providing them added value of their appropriate functioning within an
organisation.
Performance Management Plan
Performance Management is a criterion which requires a company to apply techniques
and methods which helps them in managing performance standards of their employees, in ways
12

which promotes productivity and profitability within the company. PMP for the job role of
Tourist Operations Manager is developed below:
GOALS CURRENT
COMPETENCY
TARGETED
COMPETENCY REVIEW TECHNIQUES TIME
Ethical Decision
Making 5 10
Review of
performance in
this skill would
be undertaken by
Immediate
Supervisor
The manager
lacks in taking
effective and
ethical decisions
which induces
negative
behaviour. To
resolve this,
conferences and
seminars would
be used as
appropriate
methods to
enhance
manager's
decision making
capabilities.
1 Month
Critical Thinking 6 10 Senior Manager
would undertake
review in this
performance.
To ensure
effectiveness in
performance
standards,
Workshops
would be
conducted, with
special emphasis
on creating mock
situations, will
enhance
manager's
thinking abilities,
thus, inducing
positive
3 Months
13

behaviour.
Conflict
Management 4 10
Review of this
skill would be
taken by
Training
Consultant
This is one of the
major issues in
staff retention. To
overcome the
same, training
and development
programmes
would be
performed where
in specific
techniques would
be taught to
manager in order
to ensure
effectiveness in
performance of
this skill.
6 Months
Above mentioned strategies such as conferences enable employees to witness practices of ethical
working and decision making, which promotes positive behaviour within them. Moreover, workshops help
employees to deal with complex situations using their own thinking and competence. Training and
development provides opportunities to employees to enhance their competence, productivity and
performance standards, which ensures their growth and engagement with the company.
Importance of HR Life Cycle
HR Life Cycle is quite important in order to appropriately and effectively ensure that an
employee is retained as well as managed for the longest time possible and with effective results
in terms of productivity and profitability. In terms of strategic talent management, its stages
clearly analyse each step of attracting, recruiting and managing employees, along with
techniques which the firm uses and could use which best serves the interest of ensuring growth
and outcomes by performance of employees.
Furthermore, adopting strategies like training, workshops and conferencing within this
life cycle also helps companies like Thomas Cook to overcome issues of staff retention. Some of
these issues are ineffective corporate culture, failure in conflict management, biased behaviour,
inappropriate performance appraisals, etc. HR Life cycle appropriately helps firms in
14

strategically plan retention of staff by providing them value added benefits like incentives and
bonuses, along with effective appraisal methods, which ensure their engagement for a longer
time period.
Judgement and Recommendations
As per the analysis above, HR Life Cycle is very well adopted within Thomas Cook.
However, even with effective implementation, there is always a scope of improvement, for
which, there are several recommendations that are mentioned below:
 The firm must emphasise more on training and development programmes to ensure
effectiveness and growth in performance standards of employees.
 Thomas Cook must also ensure that regular feedbacks are acquired by employees to
ensure their effective engagement and a longer life cycle within the company.
PART 3
LO 3
Specific Legislations that Travel and Tourism Industry have to comply
Legislation refers to an ethical and legal framework that is required to appropriately be
followed by organisations within an industry to operate effectively as per the guidance provided
by government. Going unethical or illegal could cause industry quite severe consequences as
outcomes of legal issues could be a heavy compensation fine, dissolution of firm and even
disrupted reputation. To mitigate such affects and ensure government support, the whole travel
and tourism industry have to adhere to several effective legislations that are discussed below: Environment Act, 1995: This legislation focuses upon protection of environment, along
with promotion of practices that reduces the harmful effects in context to flora and fauna
(Nikolovski and Dimoska, 2015). With rise in global warming and other climatic changes
issues, it is now imperative for organisations within Travel and Tourism sector to ensure
that their practice preserve environment, in ways which does not lead to ineffective
wastage of natural resources.
 Consumer Rights Act, 2015: This legislative act emphasises on protecting the interests of
customers effectively from any wrongful or unethical practices. Under this act, the
criteria for protection is associated with safety and confidentiality of crucial information,
acquisition of rightful data regarding services being offered to them, getting services
15

which are performed with reasonable skills and care, and so forth. Organisations like
Thomas Cook, within Travel and Tourism industry are required to comply with this law,
to protect customers and ensure their effective trust.
Impact of company, employment and contract law on business decision-making
The laws and ethical frameworks within the travel and tourism industry have reasonable
impact on decisions that are taken by organisations within the industries (Nguyen, 2017). Some
of the prominent impacts of the same within Thomas Cook are mentioned below: Company Law: This law is governed under Company Act, 2006, which effectively
regulates organisations within the country. A legal framework is provided by this act,
which sets basis for organisations like Thomas Cook to operate upon. One main aspect
within this law is Corporate Governance, which governs major of the company's
decisions. For example, one prominent impact of this law is that the firm is required to
take decisions that serve interests of each and every stakeholder within the company. Employment Law: This law regulates relationships between employees as well as
employers. It governs employer's expectations, employees' rights, as well as particular
state of working of employee within a company. Within Thomas Cook, major decisions
are impacted due to this act, for instance, employees have right to be protected against
any sort of discrimination.
 Contract Law: This law effectively protects both seller as well as buyer of services
within travel and tourism industry. Moreover, this law legally bounds both the parties as
soon as the buyer agrees to buy the offering made by seller (Morais, Cunha and Gomes,
2019). This law has a certain sort of impact on Thomas Cook's business decisions. For
instance, under this law, the firm is required to produce a service or product which
exactly matches the type as well as quantity that is mentioned within the contract.
Examination of potential implications of regulations, legislation and standards on decision-
making
Regulations, legislations as well as standards have effective implication on decision
making of businesses (Krakhmalova, 2017). For instance, within Thomas Cook, regulations like
company law and contract law holds the company under obligations, regarding modifying its
decisions in ways which essentially fulfils the legal expectations from the company. Moreover,
in terms of legislations, implication of acts like Environmental Act is that the company must take
16

decisions that preserve the environment. For instance, the firm could ensure a sightseeing
activity for a certain monument, rather than exploring the same from within, in order to reduce
the chances of waste and dust within the fort. In addition, ethical consideration requires the firm
to essentially perform its CSR activities. Thus, the company could not decide to indulge in pay
cuts to enhance revenue and fulfil their shareholders' expectations.
Critical Reflection on Potential Impact of Regulations, Legislations and Ethical Principles on
business decision-making
It is quite essential to assess and critically reflect on the potential impact which
regulations, legislations and ethical principles have on decision making of an organisation, to
determine the positive as well as negative implications these ethical and legal aspects have on
company (Keawkunti, 2018). For instance, in terms of regulations, contract law and company
law appropriately allows the firm to conduct their business practices within set parameters,
whereas employment law presents several strict guidelines, that does not promote flexibility
within the organisation and its decisions. Furthermore, in terms of Legislation, Consumer Rights
Act positively impact decisions of the company as it helps the firm in engaging more customers
along with ensuring their loyalty. Similarly, under Ethical Considerations, CSR drives the
firm's decisions towards a positive notch, as the firm ensures commitment and engagement of
each stakeholder associated with the company. However, one negative impact on decisions in
relation to CSR is that, decisions are driven towards accomplishment of ethical responsibilities of
the company (Höpken and et. al., 2015).
CONCLUSION
Thus, it is concluded from the report above, that Travel and tourism is a very vast sector
with effective functions and processes that are required to be effectively analysed to gain a better
understanding of its working. Principles of revenue management, along with its tools are
required to be analysed and utilised by organisations to drive themselves towards profitability.
Moreover, it is highly essential to appropriately interpret and evaluate financial statements of the
company. Moreover, HR life cycle plays a prominent role within the organisation in context with
analysing different stages of an employee's engagement with the firm.
17

REFERENCES
Books and Journals
Bolin, A. and et. al., 2018. ForBInc: forest business incubation toolkit by and for forest and farm
producer organisations. International Institute for Environment and Development
(IIED).
Boskov, T., 2018. Chapter IV: Empirical Estimation Between REER and Tourism-Led Growth.
Breiling, M., 2016. Tourism Supply Chains and Natural Disasters: The Vulnerability Challenge
and Business Continuity Models for ASEAN Countries. Economic Research Institute for
ASEAN and East Asia.
Cottrell, S., 2015. Skills for success: Personal development and employability. Macmillan
International Higher Education.
Crouch, G. I., Huybers, T. and Oppewal, H., 2016. On the Choice of Tourism Destination versus
Tourism Experience: Insights from an Analysis of Past Choice and Future Interest.
Dedigamuwa, T. and et. al., 2016. Tourists Prediction and Tracking System.
Fuchs, M., Höpken, W. and Lexhagen, M., 2015. Applying business intelligence for knowledge
generation in tourism destinations–A case study from Sweden. In Tourism and
leisure (pp. 161-174). Springer Gabler, Wiesbaden.
Griffiths, M. and Wiltshier, P. eds., 2019. Managing Religious Tourism. CABI.
Höpken, W. and et. al., 2015. Business intelligence for cross-process knowledge extraction at
tourism destinations. Information Technology & Tourism. 15(2). pp.101-130.
Keawkunti, B., 2018. SATISFACTION WITH SERVICES IN HOMESTAY BUSINESS: THE
CASE OF RANONG PROVINCE, THAILAND. The EUrASEANs: journal on global
socio-economic dynamics. (2 (9)). pp.58-67.
Krakhmalova, N. A., 2017. EXHIBITION ACTIVITY AS AN INSTRUMENT OF TOURISM
BUSINESS MARKETING PROMOTION TO THE NATIONAL AND FOREIGN
MARKETS. Management. 26(2). pp.54-66.
Morais, E. P., Cunha, C. R. and Gomes, J. P., 2019. Comparison of Iberian Peninsula official
tourism websites. Journal of Internet and e-Business Studies.
Nguyen, L., 2017. Universal Design in Norwegian Tourism Services for Customer
Engagement (Master's thesis, NTNU).
Nikolovski, B. and Dimoska, T., 2015. TOURISM ENTREPRENEURSHIP OPPORTUNITIES
AND THE ECONOMIC DEVELOPMENT 59. Year XI Volume 18 September 2015
Bitola, p.55.
Pont, L., 2014. Hospitality Management. Iuniverse.
Swart, M. P., 2018. Providing Service Quality and Customer Care in Tourism Businesses. In The
Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality: Skills for
Successful Ventures (pp. 191-206). Emerald Publishing Limited.
Vu, M. C., 2015. Responsible Tourism: from Theory to Practice–a long Journey, and Implication
for Vietnam.
Wiltshier, P., Griffiths, M. and Clarke, A., 2019. 14 Toolkit: Managing Relationship Marketing
with Sacred and Secular Consumers. Managing Religious Tourism. p.167.
Yan, L.X. and Subramanian, P., 2018, June. A Review on Exploiting Social Media Analytics for
the Growth of Tourism. In International Conference of Reliable Information and
Communication Technology (pp. 331-342). Springer, Cham.
Online
18

The Laws of Human Nature. 2019. [Online] Available Through:
<https://www.kobo.com/ww/en/ebook/the-laws-of-human-nature>
THOMAS COOK GROUP: ANNUAL REPORT AND ACCOUNTS 2018. 2018. [Online]
Available Through:
<https://www.thomascookgroup.com/investors/insight_external_assest/
Thomas_Cook_AR_2018_web.pdf>
Travel and Tourism. 2019. [Online] Available Through:
<https://www.kobo.com/us/en/ebook/travel-and-tourism-1>
19