UNIT 3: MANAGING TOUR OPERATOR

1. Allocation contract: /ˌæləˈkeɪʃn ,ˈkɒntrækt/ (n): an official

agreement between a tour company and a hotel in which the
company does not have to pay for any beds that is has reserved but
not sold

2. Bargaining /ˈbɑːɡənɪŋ/ (n) the fact of discussing prices,

conditions,etc. in order to reach an agreement

3. Co-creation /kəʊkriˈeɪʃn/ (n) the act or process of two people or two

organizations working together to create something

4. Consolidation /kənˌsɒlɪˈdeɪʃn/ (n) the act of bringing two or more things

together in order to save money, time, etc
5. Fixed contract /fɪkst ˈkɒntrækt/ (n) an official agreement between a
tour company and a hotel in which the company must pay for all
beds it has reserved even if it does not sell them

6. Guaranteed contract /ˌɡærənˈtiːd ˈkɒntrækt/ (n) = fixed contract

7. Horizontal integration /ˌhɒrɪˈzɒntl ˌɪntɪˈɡreɪʃn/(n) a situation

where different companies that are involved in the same stage of
producing or selling something join together = merge

8. Occupancy rate /ˈɒkjəpənsi reɪt/ (n) the percentage of rooms that

are occupied by customers in a hotel
9. Release date /rɪˈliːs deɪt/ (n) the date when a tour operator must
inform a hotel how many rooms it requires at a particular period in
the future

10. Sale and return /seɪl ən rɪˈtɜːn/ (n) = allocation contract

11. Surcharge /ˈsɜːtʃɑːdʒ/ (n) an extra amount of money that you must
pay in addition to the usual price
12.Vertical integration /ˈvɜːtɪkl ɪntɪˈɡreɪʃn/ (n) the act of combining
several stages of the production or selling process within a single
organization

13.Draw up /drɔː ʌp/ (v) to make or write a contract, a document, etc

14.Merge /mɜːdʒ/ (v) (used about companies) to combine to form a

single organization; to make two companies combine in this way
15.Negotiate /nɪˈɡəʊʃieɪt/ (v) to try to reach an agreement by formal
discussion