Diversification of accommodation offers depending on critical economies of scale for travel business

The world’s oldest travel company Thomas Cook, the British tour operator with 19 million yearly clients, after 178 years of service, has officially announced that it would be liquidating its assets and filed for bankruptcy, despite attempts to rescue the brand. The low-cost travel firms and their cu...

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Autores principales:	Tomas Macak, Jan Hron, Monika Jadrna
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2020
Materias:	diversification of accommodation offers business risk critical scale analytical solution optimum of multiple variables function Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/32e7f3cddcdb40239215fbef50df7379
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spelling	oai:doaj.org-article:32e7f3cddcdb40239215fbef50df73792021-12-02T18:21:51ZDiversification of accommodation offers depending on critical economies of scale for travel business2331-197510.1080/23311975.2020.1746170https://doaj.org/article/32e7f3cddcdb40239215fbef50df73792020-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2020.1746170https://doaj.org/toc/2331-1975The world’s oldest travel company Thomas Cook, the British tour operator with 19 million yearly clients, after 178 years of service, has officially announced that it would be liquidating its assets and filed for bankruptcy, despite attempts to rescue the brand. The low-cost travel firms and their cut-throat prices have certainly been a boon to customers, but legacy travel companies, who have been forced to decrease their prices, still not align themselves, especially if they have too diversified their activities and lost the scale advantage. In the field of today’s travel business, it is not possible only to rely on case studies and best practices. But it is necessary to come up with new approaches that can deal with changes in conditions such as when confronting the tourism business risk diversification and economies of scale. This article aims to create a general identification of the tourism business management system in terms of stable (and thus, sustainable) accommodation (and accompanying services) diversification, depending on the changes in the critical quantity of economies of scale. An analytical mathematical model is used for determining the diversification and economies of scale, and the parameters are determined using a full factorial design. The results of the study verify the functionality, reliability and consistency of the designed solution using a selected enterprise case study. From a practical point of view, the solution represents re-settings of diversification of accommodation offers in terms of changing the value of the critical scale of economies and other contextual factors for business.Tomas MacakJan HronMonika JadrnaTaylor & Francis Grouparticlediversification of accommodation offersbusiness riskcritical scaleanalytical solutionoptimum of multiple variables functionBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 7, Iss 1 (2020)
institution	DOAJ
collection	DOAJ
language	EN
topic	diversification of accommodation offers business risk critical scale analytical solution optimum of multiple variables function Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	diversification of accommodation offers business risk critical scale analytical solution optimum of multiple variables function Business HF5001-6182 Management. Industrial management HD28-70 Tomas Macak Jan Hron Monika Jadrna Diversification of accommodation offers depending on critical economies of scale for travel business
description	The world’s oldest travel company Thomas Cook, the British tour operator with 19 million yearly clients, after 178 years of service, has officially announced that it would be liquidating its assets and filed for bankruptcy, despite attempts to rescue the brand. The low-cost travel firms and their cut-throat prices have certainly been a boon to customers, but legacy travel companies, who have been forced to decrease their prices, still not align themselves, especially if they have too diversified their activities and lost the scale advantage. In the field of today’s travel business, it is not possible only to rely on case studies and best practices. But it is necessary to come up with new approaches that can deal with changes in conditions such as when confronting the tourism business risk diversification and economies of scale. This article aims to create a general identification of the tourism business management system in terms of stable (and thus, sustainable) accommodation (and accompanying services) diversification, depending on the changes in the critical quantity of economies of scale. An analytical mathematical model is used for determining the diversification and economies of scale, and the parameters are determined using a full factorial design. The results of the study verify the functionality, reliability and consistency of the designed solution using a selected enterprise case study. From a practical point of view, the solution represents re-settings of diversification of accommodation offers in terms of changing the value of the critical scale of economies and other contextual factors for business.
format	article
author	Tomas Macak Jan Hron Monika Jadrna
author_facet	Tomas Macak Jan Hron Monika Jadrna
author_sort	Tomas Macak
title	Diversification of accommodation offers depending on critical economies of scale for travel business
title_short	Diversification of accommodation offers depending on critical economies of scale for travel business
title_full	Diversification of accommodation offers depending on critical economies of scale for travel business
title_fullStr	Diversification of accommodation offers depending on critical economies of scale for travel business
title_full_unstemmed	Diversification of accommodation offers depending on critical economies of scale for travel business
title_sort	diversification of accommodation offers depending on critical economies of scale for travel business
publisher	Taylor & Francis Group
publishDate	2020
url	https://doaj.org/article/32e7f3cddcdb40239215fbef50df7379
work_keys_str_mv	AT tomasmacak diversificationofaccommodationoffersdependingoncriticaleconomiesofscalefortravelbusiness AT janhron diversificationofaccommodationoffersdependingoncriticaleconomiesofscalefortravelbusiness AT monikajadrna diversificationofaccommodationoffersdependingoncriticaleconomiesofscalefortravelbusiness
_version_	1718378147320168448

Diversification of accommodation offers depending on critical economies of scale for travel business

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