GLOSSARY (10)

                                                      GLOSSARY       (10)



A
Accreditation is a process of qualifying, endorsing, and “licensing” entities that perform certification of businesses, products, processes, or services
.
Attraction: Any visitor service or product which tourists would enjoy visiting or using. An attraction may not be an “attractor” but can still be an attraction. To be considered an attraction, a product must be: a. Findable (clearly located on maps and street addresses, and directions provided). If tourists can’t find the facility, it is not a tourist attraction
.
Attractor: A significant tourist attraction, which compels visitation. The primary “must sees” in an area. The top reasons a tourist would choose to visit this area.


B
Breakage: Expenses budgeted for a tour but not used or expended, thus resulting in additional profit to the tour operator. Examples include meals budgeted but not consumed, currency fluctuations in favor of the tour operator, or the tour selling to much larger numbers of passengers than expected.


Break-even point (BEP): The point at which revenues and expenses are the same. For example, the BEP is the number of products (or seats, cabins, tickets, etc.) that must be sold for a company to break even. The BEP is calculated as fixed costs divided by the selling price less variable costs. See reasonable number.

Budgeted balance sheet: A budget that measures total assets and liabilities.

Budgeted income statement: A budget that tracks revenues and expenses. Also called the profit and loss statement.

C

Charter: To hire the exclusive use of any aircraft, motorcoach, or other vehicle.
 Community is people living in one place, district, state, or country (NEAP, 2000).

Confidential tariff: A schedule of wholesale rates distributed in confidence to travel wholesalers and travel agents.

Consolidator: A person or company which forms groups to travel on air charters or at group fares on scheduled flights to increase sales, earn override commissions or reduce the possibility of tour cancellations.

Consumer show: A product showcase for the general public. Differs from a “trade show” as a trade show generally targets industry professionals.