HTT 150 Lecture Notes - Lecture 20: The Priceline Group, Big Data, Knowledge Economy

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTT 150
• Professor: Tom Griffin

Document Summary

Htt 150 lecture #20 types of intermediaries. Grand tour: 16th and 17th century, noble british young men, financially costly, travel to france, italy, switzerland etc, education on culture and diplomacy, that leads to employment, slowly becomes commercialised and packaged. Types of intermediaries: wholesalers, wholesaling aspect refers to planning, preparing, marketing (not so much. Inbound or outbound: sell to other intermediaries and consumers, assemble, sell, deliver package vacations (eg. contiki, transat holidays, sunwing vacations, agencies, sell products from suppliers (principals/wholesalers/operators) to consumers. Relationship between intermediary and supplier: profits, commission. Intermediary earns a % for each sold: net rates. Intermediary owns" the product (rooms, seats etc. : sells them at markup rate to tourist, allocation, specific number of rooms/product over specific time. If unsold by release date" they are returned to supplier: suppliers that give better deals to otas get better position in search results (lee, guillet.