A Model for the Development of Innovative Tourism Products: From Service to Transformation

Abstract

This study sought to develop a conceptual model of innovative tourism product development, because the existing models tend to provide an incomplete framework for these products’ development. The models presented to date focus on either the resources needed, the tourism experiences to be provided, or development processes. These models also tend to see the overall process as linear. The proposed model gives particular importance to the development process’s design, as well as stressing a dynamic, nonlinear approach. Based on the new services or products’ concept, project managers identify tourism destinations’ core resources, select the stakeholders, and design transformative tourism experiences. This framework can be applied to innovative tourism products or re-evaluations of existing products in order to maintain tourism destinations’ competitiveness. Thus, the model is applicable to both destination management companies and the private tourism sector.

The Impact and Value of a Tourism Product: A Hybrid Sustainability Model

“…The structure of the tourism product and the process underlying its creation hold considerable complexities. Santos et al [25] proposed a framework for the design of innovative tourism products based on three elements: resources, stakeholder selection and the creation of transformative tourism experiences. Smith [23] broke down the tourism product into its basic elements: physical plant, service, hospitality, freedom of choice and involvement.…”

“…In this sense, identifying the connections between the various elements of the tourism product under analysis is a prerequisite. Moreover, Santos et al [25] stressed that the process for developing tourism products must be dynamic and cyclical, as it requires the ongoing assessment of the elements that characterize them.…”

Valuation Models for Holiday Rentals’ Daily Rates: Price Composition Based on Booking.com

“…On the other hand, online reviews and other forms of user-generated content on the Internet, also known as electronic word of mouth or e-WOM [7] have become determining factors for the decision-making process of booking accommodation [8][9][10][11]. This innovation has combined with holiday rentals' advantages over conventional accommodations, such as better value for money and tourists' search for local experiences [3,12], to make holiday rentals a global phenomenon.…”

“…innovation has combined with holiday rentals' advantages over conventional accommodations, such as better value for money and tourists' search for local experiences [3,12], to make holiday rentals a global phenomenon.…”

“…Figure 2 reveals that a similar increase has been registered in the number of guests, with a growth of 5.9% from 2017 to 2018. Analysts expect this number to rise by 21.5% overall from 2019 to 2023. innovation has combined with holiday rentals' advantages over conventional accommodations, such as better value for money and tourists' search for local experiences [3,12], to make holiday rentals a global phenomenon.…”