Glossary R
Glossary R
In the travel context, 'retail' refers to the sale of goods and services to travelers or tourists, typically within or near travel-related establishments such as airports, train stations, hotels, tourist attractions, and cruise ships. Retail in the travel industry caters to the specific needs and preferences of travelers, offering a wide range of products and services to enhance their travel experience or fulfill their immediate requirements. Retail outlets in travel settings often prioritize convenience, accessibility, and offering unique products or souvenirs that represent the destination's culture and identity.
- Retail Travel Agent : Retail Travel Agent is an individual qualified to arrange and sell transportation and other Travel products and services directly to the public.
Retained profit is the Profit left in the Business at the end of the Accounting period after all deductions and appropriations have been made.