Management Accounting: Tourism Plan for Travel Go



Management Accounting: Tourism Plan for Travel Go

Section A

Company Overview

Travel Go is involved in hotel accommodation, cruise shipping and container shipping. It provides a one-stop-shop for holiday tours and operates mostly in Europe and the United Kingdom. Its operations cover all components of the travel chain, from flights to accommodation in the United Kingdom. In December 2011, Travel Go had alliance with about 3,200 group-owned travel agencies, 70 tour operation brands, 120 aircraft, 35 agencies and 279 hotels with a capacity of about 165,000 beds.

The performance of Travel Go Company over the past few years has been affected by an oversupply of package holidays, with more travelers planning their own trips using budget airlines and travel and tourism operator websites. It has, however, been increasing its presence in Eastern Europe, where global competition is much lower and fragmentation among major players greater than in the more mature Western European market.

The company's performance improved in the first half of 2010 due to an upswing in travel across United Kingdom. However, the eruption of an Icelandic volcano in early 2010 led to the cancellation of 1500 travel bookings. Although this was the traditional low tourist season and some travelers re-booked a trip for later in the year, significant revenue was lost. However the company's revenue still grew overall as part of the rebound from the year before.

Name of the business: Travel Go Tour Planners

Form of the business: Tourism and travel agency

Types of Services: products: Vacation trips, holidays planning

Site of Business: London

Opening and Closing Time: 10:30 am to 6:30 pm

Tour 1 and 2: Information (One Day London Trip)

Day 18:00Heathrow International Airport, London, UK

Day 19:30Holiday Inn Express London Victoria (Breakfast)

Day 112:45Holiday Inn Express London Victoria (Lunch)

Day 122:00Holiday Inn Express London Victoria (Dinner)

Day 114:00London Museum /London Art Gallery

Day 116:30London Island

Day 119:00Kensington Palace

Tour 3: Information (Within UK - London and Liverpool Trip)

Day 18:00Heathrow International Airport, London, UK

Day 19:30Holiday Inn Express London Victoria (Breakfast)

Day 112:45Holiday Inn Express London Victoria (Lunch)

Day 122:00Holiday Inn Express London Victoria (Dinner)

Day 114:00London Museum /London Art Gallery

Day 116:30London Island

Day 119:00Kensington Palace

Day 26:30Holiday Inn Express London Victoria (Departure)

Day 27:00Hotel to Airport

Day 28:35Heathrow International Airport, London, UK

Day 212:30Liverpool John Lennon Airport 

Day 213:20Hotel Indigo Liverpool City Center

Day 214:30Hotel Indigo Liverpool City Center (Lunch)

Day 222:00Hotel Indigo Liverpool City Center (Dinner)

Day 38:00Mersey Ferries

Day 310:00Sefton Park

Day 313:00Tate Gallery

Day 316:00Liverpool Cathedral

Day 321:00Hotel Indigo Liverpool City Center (Arrival)

Travel Go has experienced a high level of technological change over the past five years. The technology available to this company includes computerized reservation systems, which were developed by international and domestic airlines. These allow for more effective sales of high retail margin travel insurance policies, the electronic processing of transactions, electronic vouchering, and electronic transfer of funds from a customer to an agency and electronic settlement of accounts (Ibis World, 2012a). These systems are linked into agents' accounting and information storage and retrieval systems.

E-mail, telesales and internet facilities are increasingly being used by the Travel Go and are integrated with the computerized reservation ...