Travel Industry Overview
Expert-defined terms from the Certified Professional in Travel Agency Procurement course at LearnUNI. Free to read, free to share, paired with a professional course.
A la Carte #
Refers to a type of pricing where guests pay for each individual service or item, rather than a package deal, allowing for more flexibility in their travel plans. Related terms: all-inclusive, package deal.
Above Line #
In the context of a travel agency's income statement, above line refers to revenue generated from the sale of travel products, such as airline tickets and hotel rooms.
Abstract #
A brief summary of a research paper or article, often used in academic and industry publications to provide an overview of the main points.
Accessibility #
The extent to which a travel destination or service is usable by people with disabilities, including physical and sensory disabilities.
Accommodation #
A type of lodging or housing provided to travelers, such as hotels, resorts, and hostels.
Accounting #
The process of recording, classifying, and reporting financial information, including revenue and expenses, in a travel agency.
Action Plan #
A detailed plan outlining the steps to be taken to achieve a specific goal or objective, including timelines and responsibilities.
Activity #
Based Costing: A method of costing that assigns costs to activities, rather than products or services, allowing for more accurate cost allocation.
Ad Hoc #
A Latin phrase meaning "for this purpose only," often used to describe a travel arrangement or package that is customized for a specific group or event.
Add #
On: An optional service or feature that can be added to a travel package or itinerary, such as travel insurance or a tour guide.
Administrative Fee #
A fee charged by a travel agency for administrative tasks, such as booking and documentation.
Advanced Passenger Information #
Information required by airlines and immigration authorities, including passport details and contact information.
Adventure Travel #
A type of travel that involves participating in outdoor activities, such as hiking and rock climbing.
Advertising #
The process of promoting a travel product or service through various media channels, including print and digital media.
Agenda #
A list of items to be discussed or addressed at a meeting or conference, including topics and speakers.
Agreement #
A formal contract or understanding between two or more parties, including terms and conditions.
Airline #
A company that operates aircraft to transport passengers or cargo, including international and domestic flights.
Airline Code #
A unique code assigned to an airline, used for booking and identification purposes.
All #
Inclusive: A type of pricing where guests pay a fixed price for a package that includes all meals, drinks, and activities.
Allotment #
A guaranteed number of rooms or seats allocated to a travel agency or tour operator by a hotel or airline.
Amendment #
A change or modification made to a travel itinerary or contract, including dates and prices.
Ancillary Revenue #
Revenue generated from the sale of additional services or products, such as baggage fees and food sales.
API #
Application Programming Interface, a set of rules and protocols used for data exchange between different systems.
Apostille #
A certificate issued by a government agency, authenticating the signature and seal on a document.
Application Form #
A document used to collect information from applicants, including personal and contact details.
Approval #
The process of authorizing or endorsing a travel plan or itinerary, including budget and schedule.
Area Manager #
A person responsible for managing a specific geographic area or region, including sales and marketing.
Arrival #
The act of arriving at a destination, including check-in and baggage claim.
Article #
A written piece published in a newspaper, magazine, or online platform, often featuring travel destinations or tips.
Asset #
A valuable resource or property owned by a travel agency, including equipment and vehicles.
Assignment #
A task or project assigned to a staff member or contractor, including deadlines and deliverables.
Association #
A group of individuals or organizations with a common interest or goal, including industry associations and networks.
Attendance #
The act of attending a meeting, conference, or event, including registration and participation.
Attrition #
A reduction in the number of participants or attendees at an event or meeting.
Audit #
A systematic examination and evaluation of a travel agency's financial records and operations, including compliance and risk management.
Authentication #
The process of verifying the identity and authenticity of a document or transaction.
Authority #
A person or organization with the power to make decisions or enforce rules and regulations.
Auto #
Response: An automated response to an email or inquiry, including acknowledgement and follow-up information.
Availability #
The state of being available or accessible, including room availability and flight schedules.
Award #
A recognition or reward given to a travel agency or individual for outstanding performance or achievement.
Back #
Office: The administrative and operational functions of a travel agency, including accounting and customer service.
Baggage #
Luggage or personal belongings carried by a traveler, including checked and carry-on bags.
Balance #
The amount of money remaining in a travel agency's account, including credit and debit balances.
Bank Reconciliation #
The process of matching a travel agency's internal financial records with its bank statements.
Bank Statement #
A document provided by a bank, detailing a travel agency's transactions and balance.
Base Fare #
The initial price of a travel product or service, excluding taxes and fees.
Bed and Breakfast #
A type of accommodation that includes lodging and breakfast, often in a private home or inn.
Benchmark #
A standard or reference point used to measure performance or quality, including industry benchmarks and best practices.
Benefit #
A feature or advantage of a travel product or service, including inclusions and extras.
Bid #
A formal offer or proposal submitted by a travel agency or supplier in response to a request for proposal.
Bill #
A document requesting payment for a travel product or service, including invoice and statement.
Block Booking #
A type of booking where a travel agency reserves a large number of rooms or seats for a group or event.
Boarding #
The act of getting on an aircraft or vehicle, including check-in and security procedures.
Booking #
The act of reserving a travel product or service, including flights, hotels, and car rentals.
Booking Fee #
A fee charged by a travel agency for making a booking or reservation.
Budget #
A financial plan outlining projected income and expenses for a travel agency or project.
Business Class #
A type of airline seating that offers more comfort and amenities than economy class.
Business Travel #
Travel undertaken for work or business purposes, including meetings and conferences.
Cancellation #
The act of canceling a travel booking or reservation, including fees and penalties.
Capacity #
The maximum number of passengers or guests that can be accommodated by a travel provider.
Capital Expenditure #
A significant investment in a travel agency's assets or infrastructure, including property and equipment.
Carbon Emissions #
The amount of greenhouse gases produced by a travel agency or supplier, including flights and transportation.
Card Verification Value #
A security code used to verify the identity of a credit card holder.
Cash Flow #
The movement of money into or out of a travel agency, including income and expenses.
Cashier #
A person responsible for handling cash and payments in a travel agency.
Category #
A classification or grouping of travel products or services, including accommodation and transportation.
Certificate #
A document that verifies the completion of a course or training program.
Chain #
A group of hotels or restaurants that are owned or managed by the same company or brand.
Change Fee #
A fee charged by a travel agency or airline for making changes to a booking or reservation.
Charter #
A type of aircraft or vehicle that is rented or leased for a specific period or event.
Check #
In: The process of registering or checking in at a hotel or airport, including baggage drop-off and security screening.
Check #
Out: The process of departing or checking out of a hotel or accommodation, including bill settlement and key return.
Claim #
A request for compensation or reimbursement for a travel-related loss or expense.
Class #
A classification or grouping of airline seats, including economy, premium economy, business, and first class.
Client #
A person or organization that uses the services of a travel agency, including individuals and groups.
Clientele #
A group of clients or customers that a travel agency serves, including leisure and business travelers.
Closed #
Loop System: A payment system where the merchant and acquirer are the same entity, such as a travel agency's in-house payment system.
Commission #
A fee paid to a travel agency for selling a travel product or service, including flat fees and percentage commissions.
Complaint #
A formal expression of dissatisfaction or dispute regarding a travel product or service.
Complimentary #
A free or included item or service, such as breakfast or wifi.
Computer Reservation System #
A computerized system used to manage and book travel arrangements, including flights, hotels, and car rentals.
Concession #
A discount or reduction in price offered to a travel agency or client, including special promotions and last minute deals.
Conference #
A meeting or gathering of people, including industry events and networking opportunities.
Confirmation #
A document or message that confirms a travel booking or reservation, including details and itinerary.
Connection #
A transfer or change of flights or transportation modes, including layovers and stopovers.
Consolidator #
A company that buys and resells travel products or services, including wholesale and retail operations.
Consortium #
A group of travel agencies or suppliers that work together to achieve a common goal or objective.
Consumer Protection #
Laws and regulations that protect the rights and interests of travelers, including refund and cancellation policies.
Contact #
A person or organization that can be reached for information or assistance, including customer support and emergency services.
Contingency Plan #
A plan or strategy for dealing with unexpected events or emergencies, including crisis management and communication protocols.
Contract #
A legally binding agreement between two or more parties, including terms and conditions.
Convention #
A large meeting or gathering of people, including industry events and conferences.
Conversion Rate #
The percentage of inquiries or leads that result in a booking or sale.
Cookie #
A small file or piece of data stored on a user's device or browser, including tracking and personalization cookies.
Corporate Travel #
Travel undertaken for work or business purposes, including meetings and conferences.
Cost Per Acquisition #
The cost of acquiring a new customer or client, including marketing and advertising expenses.
Cost Savings #
The amount of money saved or reduced by a travel agency or client, including discounts and efficiencies.
COTS #
Commercial Off-The-Shelf, a type of software or system that is pre-built and available for purchase, including travel agency management systems.
Couchsurfing #
A type of accommodation where travelers stay with local hosts for free, including cultural exchange and hospitality.
Coupon #
A voucher or discount offer that can be redeemed for a travel product or service, including print and digital coupons.
Credit #
An amount of money that is owed to a travel agency or client, including refund and reimbursement credits.
Credit Card #
A type of payment card that allows users to charge purchases and expenses to their account, including visa and mastercard.
Cruise #
A type of travel that involves sailing on a ship or boat, including ocean and river cruises.
Cryptocurrency #
A digital or virtual currency that uses encryption and blockchain technology, including bitcoin and ethereum.
Currency #
A type of money or medium of exchange, including local and foreign currencies.
Customer #
A person or organization that purchases or uses a travel product or service, including leisure and business travelers.
Customer Relationship Management #
A system or strategy for managing and analyzing customer interactions and data, including sales and marketing efforts.
Customs #
The government agency responsible for regulating and taxing imports and exports, including travel restrictions and prohibitions.
Cycle #
A repeating pattern or process, including seasonal and annual cycles in the travel industry.
Dashboard #
A visual display of key performance indicators and metrics, including sales and revenue data.
Data Analytics #
The process of analyzing and interpreting data to gain insights and make informed decisions, including travel industry trends and patterns.
Data Mining #
The process of discovering and extracting valuable information and patterns from large datasets, including travel industry data and trends.
Date #
A specific point in time, including arrival and departure dates, as well as check-in and check-out dates.
Deadhead #
A flight or journey that is made without passengers or cargo, often used for crew training or maintenance purposes.
Debit #
An amount of money that is owed by a travel agency or client, including expenses and fees.
Debit Card #
A type of payment card that allows users to charge purchases and expenses directly to their account, including visa and mastercard debit cards.
Debt #
An amount of money that is owed by a travel agency or client, including loans and credit lines.
Decision Support System #
A computerized system that provides information and analysis to support decision-making, including travel industry trends and forecasts.
Deep Linking #
The practice of linking to a specific page or section of a website, rather than the home page, including travel agency websites and online booking systems.
Deferred Payment #
A payment that is made at a later date or time, often used for installment plans or layaway options.
Deluxe #
A high-end or luxury travel product or service, including accommodation and transportation options.
Demand #
The amount of interest or desire for a travel product or service, including seasonal and annual fluctuations.
Departure #
The act of leaving a location or destination, including check-out and departure procedures.
Deposit #
A payment made to secure a booking or reservation, often used for hotel bookings and tour packages.
Destination #
A place or location that is visited or traveled to, including cities, countries, and regions.
Destination Management Company #
A company that specializes in providing local knowledge and expertise to travelers, including tour operators and activity providers.
Destination Marketing Organization #
A company or organization that promotes and markets a destination or region, including tourism boards and convention bureaus.
Direct Marketing #
A type of marketing that involves direct communication with customers or prospects, including email and mail campaigns.
Direct Sales #
A type of sales that involves selling travel products or services directly to customers or clients, including online and offline sales channels.
Disaster #
A sudden or unexpected event or catastrophe, including natural disasters and human-made crises.
Disclosure #
The act of providing information or details about a travel product or service, including terms and conditions.
Discount #
A reduction in the price of a travel product or service, including special promotions and last minute deals.
Discretionary Income #
The amount of money that a person or household has available for discretionary spending, including travel and leisure activities.
Display Advertising #
A type of advertising that involves displaying ads or banners on websites or online platforms, including travel industry websites and social media.
Distance #
The length or amount of space between two or more points or locations, including driving and flight distances.
Distribution Channel #
A means or method of distributing travel products or services, including online and offline channels.
Distributor #
A company or person that distributes travel products or services, including wholesalers and retailers.
Documentation #
The process of creating and managing documents and records, including travel documents and itineraries.
Domain Name #
A unique name or address that is used to identify a website or online platform, including travel agency websites and booking systems.
Domestic Travel #
Travel within a person's own country or region, including leisure and business travel.
Downgrade #
A reduction in the quality or level of a travel product or service, including accommodation and transportation options.
Down Payment #
A payment made to secure a booking or reservation, often used for hotel bookings and tour packages.
Drop #
Off: The act of leaving a rental car or vehicle at a designated location or point.
Duty #
Free: A type of shopping or purchase that is exempt from duties or taxes, including airport and border shopping.
Dynamic Packaging #
A type of travel packaging that allows travelers to customize their itinerary and bookings in real-time, including online and mobile booking systems.
E-Commerce: A type of commerce that involves buying and selling goods or service… #
E-Commerce: A type of commerce that involves buying and selling goods or services online, including travel agency websites and booking systems.
E-Ticket: An electronic ticket or voucher that is used to confirm… #
E-Ticket: An electronic ticket or voucher that is used to confirm a travel booking or reservation, including airline and train tickets.
Economy Class #
A type of airline seating that offers the most affordable and basic level of service, including seats and amenities.
Eco #
Tourism: A type of tourism that focuses on environmental and cultural sustainability, including wildlife and conservation efforts.
Electronic Funds Transfer #
A type of payment that involves transferring funds electronically, including bank transfers and credit card payments.
Embargo #
A government-imposed restriction or ban on travel to a particular country or region, including trade and travel restrictions.
Emergency #
A sudden or unexpected event or catastrophe, including natural disasters and human-made crises.
Employee #
A person who works for a travel agency or company, including full-time and part-time staff.
Employer #
A company or organization that employs staff or workers, including travel agencies and tour operators.
Encryption #
The process of protecting data or information by converting it into a code or cipher, including password and security measures.
End #
User: The person or organization that ultimately uses or benefits from a travel product or service, including travelers and customers.
Enterprise Resource Planning #
A type of software or system that helps manage and integrate business operations, including travel agency management systems.
Environmental Impact #
The effect or influence that a travel product or service has on the environment, including carbon emissions and waste management.
Epin #
A unique code or number that is used to identify a travel product or service, including flight and hotel bookings.
Error #
A mistake or inaccuracy in a travel booking or reservation, including technical and human errors.
Escorted Tour #
A type of tour that is led by a guide or escort, including sightseeing and activity tours.
Estimate #
An approximate or estimated cost or price for a travel product or service, including quotes and bids.
Etiquette #
A set of rules or guidelines for behavior or conduct, including cultural and social etiquette.
Evaluation #
The process of assessing or evaluating a travel product or service, including feedback and reviews.
Event #
A planned or organized gathering or meeting, including conferences and festivals.
Exchange Rate #
The rate at which one currency is exchanged for another, including foreign exchange rates and currency fluctuations.
Excess Baggage #
Baggage that exceeds the weight or size limits allowed by an airline or transport provider, including fees and charges.
Excursion #
A short trip or outing that is taken as part of a larger itinerary or vacation, including sightseeing and activity tours.
Executive #
A high-level manager or director of a travel agency or company, including CEO and CFO roles.
Exhibition #
A display or showcase of products or services, including trade shows and expos.
Expectation #
A anticipated or expected outcome or result, including customer expectations and service standards.
Expense #
A cost or expenditure incurred by a travel agency or client, including travel and accommodation expenses.
Experience #
A personal or subjective event or encounter, including travel and leisure experiences.
Expiration Date #
The date on which a ticket or voucher expires or becomes invalid, including travel documents and passes.
Export #
A product or service that is sold or shipped to another country or region, including travel and tourism exports.
Extension #
An addition or extension of a travel itinerary or booking, including extra nights or activities.
External #
A factor or element that is outside of a travel agency's control, including market trends and economic conditions.
FAQ #
Frequently Asked Questions, a list of common questions and answers that are provided to customers or clients.
Fare #
The price or cost of a travel product or service, including flight and train fares.
Fare Basis #
The rules and regulations that govern the price and availability of a travel product or service, including fare rules and restrictions.
FBO #
Fixed-Based Operator, a company or organization that provides services and facilities to travelers, including airport and marina services.
Feasibility Study #
A study or analysis that is conducted to determine the practicality or viability of a travel product or service, including market research and financial analysis.
Fees #
A charge or payment that is made for a travel product or service, including booking and processing fees.
Festival #
A planned or organized event or celebration, including music and arts festivals.
FID #
Foreign Investment Division, a government agency or department that is responsible for regulating and promoting foreign investment, including travel and tourism investments.
Financial Statement #
A document or report that provides information about a travel agency's financial performance, including income and expense statements.
Fiscal Year #
A period of time that is used for financial and accounting purposes, including calendar and fiscal years.
Flight #
A journey or trip that is made by air, including domestic and international flights.
Flight Itinerary #
A document or schedule that outlines the flights and travel arrangements for a trip or journey.
Flight Number #
A unique code or number that is assigned to a flight or airline, including departure and arrival information.
Flying Time #
The amount of time that is spent flying or in the air, including flight and travel times.
Folio #
A document or record that is used to track and