Markup is a percentage added to the cost of a product to achieve a selling price.
"Markup" in the context of travel, transport, and hotels refers to the amount added to the cost of a product or service in order to arrive at the selling price.
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In the context of hotels, "Markup" may refer to the amount added to the cost of a room or suite in order to arrive at the rate that is charged to the guest. For example, a hotel might purchase a room from a supplier for $100 and then add a markup of $50 to arrive at a selling price of $150 per night.
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In the context of transportation, "Markup" may refer to the amount added to the cost of a ticket or fare in order to arrive at the price that is charged to the passenger. For example, an airline might purchase a seat from a supplier for $200 and then add a markup of $50 to arrive at a selling price of $250 per seat.
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In the context of tours, "Markup" may refer to the amount added to the cost of the tour package in order to arrive at the price that is charged to the customer. For example, a tour operator might purchase a package from a supplier for $1000 and then add a markup of $500 to arrive at a selling price of $1500 per package.
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In the context of airfare, "Markup" may refer to the amount added to the cost of the flight in order to arrive at the price that is charged to the customer.
Markup is a common practice in the travel and hospitality industry, and it is used to cover operational costs and make a profit.
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