Analyzing How Startups Develop and Refine Business Models to Create Value and Sustain Competitive Advantage
DOI:
https://doi.org/10.61506/Keywords:
luxury hotels, business model innovation, market adaptability, value creation, competitive advantage, operational efficiencyAbstract
This study explores the strategic approaches of leading luxury hotels across different countries, focusing on Hyatt Regency and Hilton in Dubai, Movenpick and Marriott in Pakistan, and Dusit Thani International in Thailand. Through thematic analysis of interviews with hotel representatives, the research employs a qualitative design and purposive sampling to gather insights into business model innovation, market adaptability, value creation, operational efficiency, and competitive advantage. The findings reveal that these hotels prioritize diversification and partnerships to enhance revenue streams, implement customer engagement strategies through loyalty programs, and adopt sustainable practices to meet evolving consumer preferences. The emphasis on delivering exceptional guest experiences and maintaining operational efficiency underscores their commitment to brand reputation and competitive positioning in a saturated market. The study highlights the necessity for continuous innovation and responsiveness to market trends as essential elements for success in the dynamic hospitality landscape.
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