Organization of Airlines, Travel Agents Part II: Travel Agents

These flashcards cover key concepts and terminologies from the lecture on the organization of airlines and travel agents.

Travel Trade

The term used to describe the travel agency and tour operation business, which dates back to the early 19th century.

Cox & Kings

The longest established travel company in the world, founded in 1758.

Father of the Travel Agency Business

Title given to Thomas Cook for his pioneering role in organizing trips and creating the world's first travel agency.

Inclusive Tour

A tour package that bundles transportation and lodging along with additional services such as transfers, sightseeing, and museum admissions.

Traveler Cheque

A payment method introduced by Thomas Cook in 1870 to eliminate cash payments during travel.

Travel Agency

An important organization in the tourism private sector that packages and processes travel-related services for tourists.

Retail Travel Agency

Agencies that sell tourist products directly to the public and earn commission from suppliers.

Wholesale Travel Agency

Agencies specialized in organizing package tours marketed through the network of retail travel agencies.

Tour Operator

An organization that buys individual travel components and combines them into package tours to sell to the public.

Inbound Tour Operators

Operators that receive and handle arrangements for tourists arriving in the host country.

Outbound Tour Operators

Operators that promote tours to foreign destinations.

IATA Accredited Agents

Travel agents authorized to sell international and domestic tickets on behalf of airlines.

Non-IATA Agents

Travel agents that do not have authorization from airlines and must resell tickets bought from IATA agents.

Online Travel Agents (OTA)

Online companies that allow consumers to book travel services directly via the internet.

Travel Management Companies (TMC)

Agencies that manage corporate or business travel programs for organizations.

Override Commission

A bonus structure that rewards travel agencies for exceeding sales targets with added commissions.

New Distribution Capability (NDC)

An IATA standard aimed at enhancing the competitiveness of travel agencies by allowing direct bookings through airline platforms.