IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v14y2021i12p606-d702898.html
   My bibliography  Save this article

Evaluating Business Model for Hotel Industry by Grey-TOPSIS

Author

Listed:
  • Hsueh-Feng Chang

    (Department of Tourism Management, National Kaohsiung University of Science and Technology, Kaohsiung 824004, Taiwan)

  • Shu-Hua Wu

    (Department of Food & Beverage Management, National Kaohsiung University of Hospitality and Tourism, Kaohsiung 812018, Taiwan)

  • Joyce Hsiu-Yu Chen

    (Department of Food & Beverage Management, National Kaohsiung University of Hospitality and Tourism, Kaohsiung 812018, Taiwan)

  • Chao-Hui Ke

    (Department of Tourism, Chienkuo Technology University, Chunghua 500020, Taiwan)

Abstract

Businesses in the past few years have paid more and more attention to brand awareness. More and more branded hotels have launched sub-brands so as to access a new market, boost brand exposure and value, and attain new market niches. The purpose of the work was to explore, on the basis of the business model, factors affecting hotel sub-brand development in Taiwan. The modified Delphi method was firstly referred to. Next, a questionnaire was designed to serve as the basis of quantitative analysis. Third, experienced professionals from the hotel business were invited to participate in a questionnaire survey. The affecting factors of hotel sub-brand development were identified, and analysis data were generated. Grey-TOPSIS was employed to evaluate, calculate, and certify weight analysis and ranking of affecting indices of hotel sub-branding. The results explained that there are nine affecting factors for developing a hotel’s sub-branding. They are channel, target customers, customer relationship, key activities, revenue model, key partners, value proposition, key resources, and cost structure. The top four are the most important ones. This finding, figured out by using soft mathematical methods, can provide a proper evaluating way for decision making by the hotel industry, which wants to establish its sub-brands.

Suggested Citation

  • Hsueh-Feng Chang & Shu-Hua Wu & Joyce Hsiu-Yu Chen & Chao-Hui Ke, 2021. "Evaluating Business Model for Hotel Industry by Grey-TOPSIS," JRFM, MDPI, vol. 14(12), pages 1-12, December.
    • Handle: RePEc:gam:jjrfmx:v:14:y:2021:i:12:p:606-:d:702898
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/14/12/606/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/14/12/606/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rifat Sharmelly & Anton Klarin, 2021. "Customer Value Creation for the Emerging Market Middle Class: Perspectives from Case Studies in India," JRFM, MDPI, vol. 14(10), pages 1-18, September.
    2. Zahra, Shaker A., 1996. "Technology strategy and financial performance: Examining the moderating role of the firm's competitive environment," Journal of Business Venturing, Elsevier, vol. 11(3), pages 189-219, May.
    3. Henry Chesbrough & Richard S. Rosenbloom, 2002. "The role of the business model in capturing value from innovation: evidence from Xerox Corporation's technology spin-off companies," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 11(3), pages 529-555, June.
    4. Guarascio, Dario & Tamagni, Federico, 2019. "Persistence of innovation and patterns of firm growth," Research Policy, Elsevier, vol. 48(6), pages 1493-1512.
    5. Eberhard, Manuel & Craig, Justin, 2013. "The evolving role of organisational and personal networks in international market venturing," Journal of World Business, Elsevier, vol. 48(3), pages 385-397.
    6. Tauber, Edward M., 1981. "Brand franchise extension: New product benefits from existing Brand Names," Business Horizons, Elsevier, vol. 24(2), pages 36-41.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mingfeng Tang & Grace Sheila Walsh & Cuiwen Li & Angathevar Baskaran, 2021. "Exploring technology business incubators and their business incubation models: case studies from China," The Journal of Technology Transfer, Springer, vol. 46(1), pages 90-116, February.
    2. Minguzzi, Antonio & Passaro, Renato, 2001. "The network of relationships between the economic environment and the entrepreneurial culture in small firms," Journal of Business Venturing, Elsevier, vol. 16(2), pages 181-207, March.
    3. Zahra, Shaker A., 1996. "Technology strategy and new venture performance: A study of corporate-sponsored and independent biotechnology ventures," Journal of Business Venturing, Elsevier, vol. 11(4), pages 289-321, July.
    4. Livio Cricelli & Michele Grimaldi & Silvia Vermicelli, 2022. "Crowdsourcing and open innovation: a systematic literature review, an integrated framework and a research agenda," Review of Managerial Science, Springer, vol. 16(5), pages 1269-1310, July.
    5. Cinzia Battistella & Gianluca Murgia & Fabio Nonino, 2021. "Free-driven web-based business models," Electronic Commerce Research, Springer, vol. 21(2), pages 445-486, June.
    6. Alexander Kalita & Alexander Chepurenko, 2020. "Competitiveness of Small and Medium Businesses and Competitive Pressure in the Manufacturing Industry," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 14(2), pages 36-50.
    7. Julie Dekker & Tim Hasso, 2016. "Environmental Performance Focus in Private Family Firms: The Role of Social Embeddedness," Journal of Business Ethics, Springer, vol. 136(2), pages 293-309, June.
    8. Gerrit Remane & Andre Hanelt & Jan F. Tesch & Lutz M. Kolbe, 2017. "The Business Model Pattern Database — A Tool For Systematic Business Model Innovation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-61, January.
    9. Laurent Cavenaile & Pau Roldan-Blanco, 2021. "Advertising, Innovation, and Economic Growth," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 251-303, July.
    10. Oseni, Musiliu O. & Pollitt, Michael G., 2017. "The prospects for smart energy prices: Observations from 50 years of residential pricing for fixed line telecoms and electricity," Renewable and Sustainable Energy Reviews, Elsevier, vol. 70(C), pages 150-160.
    11. Wüstenhagen, Rolf & Menichetti, Emanuela, 2012. "Strategic choices for renewable energy investment: Conceptual framework and opportunities for further research," Energy Policy, Elsevier, vol. 40(C), pages 1-10.
    12. Frank T. Rothaermel & Maria Tereza Alexandre, 2009. "Ambidexterity in Technology Sourcing: The Moderating Role of Absorptive Capacity," Organization Science, INFORMS, vol. 20(4), pages 759-780, August.
    13. Sandra J. Milberg, 2001. "Positive Feedback Effects Of Brand Extensions: Expanding Brand Meaning And The Range Of Extendibility," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 4(1), pages 3-35.
    14. Palo, Teea & Åkesson, Maria & Löfberg, Nina, 2019. "Servitization as business model contestation: A practice approach," Journal of Business Research, Elsevier, vol. 104(C), pages 486-496.
    15. Wenyao Zhang & Tugrul Daim & Qingpu Zhang, 2019. "Exploring the Multi-Phase Driven Process for Disruptive Business Model Innovation of E-Business Microcredit: a Multiple Case Study from China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(2), pages 590-617, June.
    16. Ralf Meinhardt & Sebastian Junge & Martin Weiss, 2018. "The organizational environment with its measures, antecedents, and consequences: a review and research agenda," Management Review Quarterly, Springer, vol. 68(2), pages 195-235, April.
    17. Anna M. Hansson & Eja Pedersen & Niklas P. E. Karlsson & Stefan E. B. Weisner, 2023. "Barriers and drivers for sustainable business model innovation based on a radical farmland change scenario," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(8), pages 8083-8106, August.
    18. Silviano Esteve-Pérez & Fabio Pieri & Diego Rodriguez, 2022. "One swallow does not make a summer: episodes and persistence in high growth," Small Business Economics, Springer, vol. 58(3), pages 1517-1544, March.
    19. Dotun Olaleye Faloye & Idowu Owoeye & Kunle Jayeola, 2021. "The Key Drivers of Business Model Innovation in Developing Countries’ Firms: Survey of Micro and Small Scale Enterprises in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(7), pages 148-157, July.
    20. Lehoux, P. & Daudelin, G. & Williams-Jones, B. & Denis, J.-L. & Longo, C., 2014. "How do business model and health technology design influence each other? Insights from a longitudinal case study of three academic spin-offs," Research Policy, Elsevier, vol. 43(6), pages 1025-1038.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:14:y:2021:i:12:p:606-:d:702898. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.