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Tourism and Hotel Economics THM241

Tourism and Hotel Economics THM241. Presentation 1.

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Tourism and Hotel Economics THM241

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  1. Tourism and Hotel EconomicsTHM241 Presentation 1 Dr AmanyRefaatMoushira El Fekki 5712026MrMahmoud Richard Michel 5712011 Farah Salah 5712022TarekSoliman 5712019Menna Ahmed 5712027

  2. CHAPTER 6 TRAVEL AND TOURISM INTERMEDIARIES

  3. CONTENT • Introduction • The role played in the market today by travel agencies and tour operators as the main tourism intermediaries • The business environment of travel agencies and tour operators on the larget tourism generating markets • Economics of travel agencies • Economics of tour operators • The yield management in the tour operators management • Conclusion • Reference

  4. Introduction People would travel anyway even if there aren't any travel agencies.However since everything in life is easier with good organization, travel and tourism intermediaries have justified their existence.The need for intermediaries is conditioned by the specifity of the tourism demand and tourism supply.These intermediaries link the service providers and the tourists.

  5. Differences between tour operators and travel agencies

  6. Positive points • Today , travel and tourism intermediaries act in the market as coordinators and representatives of the interests of the suppliers and of the users of travel and tourism-related services. • The reason for this is that they are adapting quickly to the changing business environment.

  7. By buying an integrated product like a package holiday , customers not only save the time they would need to contact personally each service provider but they also have money. • In this case the price of tour operators must be lower than the travel agencies’.

  8. Economics of travel agencies • Retail travel agencies in the majority of cases are small businesses. • The changed of business conditions on the market are pushing the travel agencies towards a trend of increasing their size therefore the number of small agencies has been decreasing and the number of medium and large agencies have been increasing since 1998.

  9. There is a difference in the structure of sales items between Europe and the USA.

  10. Economics of tour operators • Tour operators appeared on the tourism market as entrepreneurs in the sphere of organizing leisure travel. • The main risks in the tour operating businesses are connected with projections of tourism demand, capacity planning and pricing. • Based on forecasted tourism demand, a tour operator plans total capacity and decides on the number of destinations and volume of its programme.

  11. Pricing an inclusive tour:Only after all the components of a package holiday have been defined can the tour operator determine its selling price, which mostly depends on the type of transport in a particular package and on the type of accommodation, because these are the direct costs which make up somewhere between 65% and 75% of the selling price of a package holiday.

  12. Integrated tour operators:Integrated tour operator is a type of software that is used in the tours and travel business and is used mainly for bookings of airline tickets and reservation of hotels. Income of tour operators:

  13. Yield Management in the tour operating business Yield management is a variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, perishable resource (such as airline seats or hotel room reservations…)

  14. It can in short be defined as the optimization of revenue through the differentiation of prices. Tour operators cannot expect that all their products will be sold at brochure prices. • The task of yield management is to come up with the best solutions to any sudden change in a demand because each demand varies for different destinations or different hotel categories etc • Yield management in the tour operating business is therefore extremely complex since tour operators deal with an integrated product that has to be purchased within a very limited range.

  15. Conclusion Considering the role and importance that travel and tourism intermediaries have gained over the past on the tourism market , it would be difficult to imagine that they would allow their business to disappear. Finally , these tourism intermediaries have to make internal changes due to the business environment.

  16. Reference :

  17. THANK YOU

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