This paper aims to present the case for a new integrated resort business model. It does so by integrating the notion of a smart tourism ecosystem into the concept of dynamic capabilities so as to guide integrated resort theory and practice in an evolving landscape.
The theoretical model is derived from synthesising the gaps surrounding literature that contextualises business models and the relatively scarce body of knowledge related to integrated resort business models.
Integrated resorts are characterised by strategies using a follower mentality. Destinations seeking to create new integrated resorts largely emulate existing product or service points of differentiation, though such attempts are often quickly eroded by competition. By integrating the smart tourism ecosystem to the theoretical framework, this conceptual paper elucidates how an information-rich environment can help to better realise sustainable competitive advantages.
This conceptual paper will require empirical data to validate the theoretical model. Implications stemming from the research will hasten greater social networks that need to be incorporated to foster timely and necessary circulation of information to attain optimal outcomes generated by the dynamic capability effect.
This paper re-conceptualises the business model for integrated resorts. By integrating the notion of smart tourism ecosystems to business model literature, the paper illuminates how integrated resorts can be better positioned in adapting to the changing operating environments.
