Markup
Markup is a business term used in the travel industry to describe the amount added to the base cost of travel services (like flights, hotels, or packages) to create the final selling price to customers. When you see this term in resumes, it typically refers to someone's experience in pricing strategy and revenue management. Think of it like the difference between wholesale and retail prices - travel companies buy services at net rates and add their markup to make a profit. This concept is also sometimes called 'margin' or 'commission' in the industry.
Examples in Resumes
Managed Markup strategies for international flight packages, increasing profit margins by 15%
Developed automated Markup calculation tools for cruise bookings
Optimized Markup rates across seasonal hotel offerings to maximize revenue
Trained new agents on Price Markup policies and procedures
Typical job title: "Revenue Managers"
Also try searching for:
Where to Find Revenue Managers
Professional Networks
Industry Resources
Example Interview Questions
Senior Level Questions
Q: How would you develop a markup strategy for a new travel product line?
Expected Answer: A strong answer should cover market analysis, competitor pricing, target customer segments, seasonal variations, and how to balance profitability with market competitiveness. Should also mention monitoring and adjusting strategies based on performance.
Q: How do you handle markup adjustments during low season versus high season?
Expected Answer: Should discuss dynamic pricing strategies, understanding of market demand patterns, maintaining profitability during low seasons, and maximizing revenue during peak times while staying competitive.
Mid Level Questions
Q: What factors do you consider when setting markup rates?
Expected Answer: Should mention competitor prices, operating costs, market demand, seasonal factors, target customer demographics, and company profit goals. Should also discuss the importance of maintaining relationships with suppliers.
Q: How do you explain markup policies to new travel agents?
Expected Answer: Should demonstrate ability to clearly communicate pricing strategies, explain when flexibility is allowed, and how to present pricing to customers while maintaining profitability.
Junior Level Questions
Q: What is the difference between markup and margin?
Expected Answer: Should be able to explain that markup is the amount added to the net cost, while margin is the percentage of the selling price that is profit. Should provide simple examples using travel products.
Q: How do you calculate markup percentages?
Expected Answer: Should be able to explain basic markup calculations: how to add a percentage to net costs and how to work backward from a desired selling price to determine markup amount.
Experience Level Indicators
Junior (0-2 years)
- Basic markup calculations
- Understanding of net rates vs. selling prices
- Use of booking systems
- Basic understanding of seasonal pricing
Mid (2-5 years)
- Setting markup rates for different products
- Analyzing competitor pricing
- Understanding market trends
- Managing pricing tools and systems
Senior (5+ years)
- Developing pricing strategies
- Revenue optimization
- Team training and management
- Market analysis and forecasting
Red Flags to Watch For
- No understanding of basic pricing concepts
- Lack of experience with travel booking systems
- Poor math skills or attention to detail
- No knowledge of competitive market analysis
- Inability to explain pricing strategies clearly
Related Terms
Need more hiring wisdom? Check these out...
Speak Their Language: How Localized Job Descriptions Unlock Regional Talent
Resume Optimizations that Candidates Do to Get Past AI Hiring Filters
The Psychology of Job Descriptions: How AI Can Help Write Better Job Posts
