{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,5,5]],"date-time":"2026-05-05T00:01:56Z","timestamp":1777939316028,"version":"3.51.4"},"reference-count":34,"publisher":"SAGE Publications","license":[{"start":{"date-parts":[[2025,4,25]],"date-time":"2025-04-25T00:00:00Z","timestamp":1745539200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/journals.sagepub.com\/page\/policies\/text-and-data-mining-license"}],"content-domain":{"domain":["journals.sagepub.com"],"crossmark-restriction":true},"short-container-title":["Tourism and Hospitality Research"],"abstract":"<jats:p>Most touristic destinations require enormous property renovation and environmental sustainability investments. This study attempts to anticipate the impact of these investments in the accommodations industry in terms of market concentration and competition. We propose a theoretical model that highlights two particularly concerning scenarios: the \u201cunrenovated\u201d and the \u201cpartially renovated\u201d equilibria. In the former, accommodation providers delay their sustainability investments as long as legally possible, while in the latter, only some accommodation providers invest and secure a leading position. The later scenario is more concerning in terms of competition and market concentration as it places firms in asymmetric positions. The former scenario is more concerning in terms of environment and the destination\u2019s future as firms fail to execute renovation and sustainability investments. In order to deal with this problem, we analyze several policy measures and argue that subsidies are likely to be the most effective policy. This paper aims to open debate on these crucial issues.<\/jats:p>","DOI":"10.1177\/14673584251338438","type":"journal-article","created":{"date-parts":[[2025,4,25]],"date-time":"2025-04-25T11:28:13Z","timestamp":1745580493000},"update-policy":"https:\/\/doi.org\/10.1177\/sage-journals-update-policy","source":"Crossref","is-referenced-by-count":0,"title":["Renovation and sustainability in hospitality: The danger of concentration and less competition"],"prefix":"10.1177","author":[{"given":"Juan Antonio","family":"Duro","sequence":"first","affiliation":[{"name":"Universitat Rovira i Virgili and ECO-SOS, Spain"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-3376-0164","authenticated-orcid":false,"given":"Ant\u00f3nio","family":"Os\u00f3rio","sequence":"additional","affiliation":[{"name":"Universitat Rovira i Virgili and ECO-SOS, Spain"}]},{"given":"Alejandro","family":"Perez-Laborda","sequence":"additional","affiliation":[{"name":"Universitat Rovira i Virgili and ECO-SOS, Spain"}]}],"member":"179","published-online":{"date-parts":[[2025,4,25]]},"reference":[{"key":"e_1_3_3_2_1","doi-asserted-by":"publisher","DOI":"10.1016\/S0160-7383(01)00002-0"},{"key":"e_1_3_3_3_1","unstructured":"Alvarez and Marsal Report (2023) Hotel acquisitions: the death of consolidation? https:\/\/www.alvarezandmarsal.com\/insights\/hotel-acquisitions-death-consolidation"},{"key":"e_1_3_3_4_1","unstructured":"Balearic Properties (2025) Mallorca reinvents itself as a luxury destination beyond mass tourism. Available at: https:\/\/www.balearic-properties.com\/en\/mallorca-reinvents-itself-as-luxury-destination."},{"key":"e_1_3_3_5_1","unstructured":"Booking (2023) Sustainable travel report. https:\/\/globalnews.booking.com\/download\/31767dc7-3d6a-4108-9900-ab5d11e0a808\/booking.com-sustainable-travel-report2023.pdf"},{"key":"e_1_3_3_6_1","doi-asserted-by":"publisher","DOI":"10.1080\/14616688.2024.2325932"},{"key":"e_1_3_3_7_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.annals.2007.03.010"},{"key":"e_1_3_3_8_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.tmp.2021.100879"},{"key":"e_1_3_3_9_1","doi-asserted-by":"publisher","DOI":"10.1080\/21681376.2019.1592699"},{"key":"e_1_3_3_10_1","doi-asserted-by":"publisher","DOI":"10.1177\/13548166211049870"},{"key":"e_1_3_3_11_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.annals.2024.103795"},{"key":"e_1_3_3_12_1","doi-asserted-by":"publisher","DOI":"10.1080\/09669582.2021.2016777"},{"key":"e_1_3_3_13_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.annals.2010.12.006"},{"key":"e_1_3_3_14_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jhtm.2023.01.006"},{"key":"e_1_3_3_15_1","doi-asserted-by":"publisher","DOI":"10.1080\/13683500.2020.1757628"},{"key":"e_1_3_3_16_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jort.2021.100367"},{"key":"e_1_3_3_17_1","doi-asserted-by":"publisher","DOI":"10.1080\/09669582.2015.1008500"},{"key":"e_1_3_3_18_1","doi-asserted-by":"publisher","DOI":"10.1177\/146735840200400205"},{"key":"e_1_3_3_19_1","doi-asserted-by":"publisher","DOI":"10.1080\/13683500.2020.1722618"},{"key":"e_1_3_3_20_1","doi-asserted-by":"publisher","DOI":"10.1080\/1755182X.2019.1643932"},{"key":"e_1_3_3_21_1","doi-asserted-by":"publisher","DOI":"10.1375\/jhtm.17.1.83"},{"key":"e_1_3_3_22_1","doi-asserted-by":"publisher","DOI":"10.1177\/13548166211050475"},{"key":"e_1_3_3_23_1","doi-asserted-by":"publisher","DOI":"10.1177\/1467358415600217"},{"key":"e_1_3_3_24_1","doi-asserted-by":"publisher","DOI":"10.1080\/09669581003777747"},{"key":"e_1_3_3_25_1","doi-asserted-by":"publisher","DOI":"10.1038\/s41558-018-0141-x"},{"key":"e_1_3_3_26_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jhtm.2023.11.002"},{"key":"e_1_3_3_27_1","unstructured":"Martin L (2023) A roundup of the biggest deals in the hotel industry in 2023. https:\/\/www.hotelmanagement-network.com\/news\/biggest-deals-hotel-industry-2023\/"},{"key":"e_1_3_3_28_1","unstructured":"O'Neill S (2024) Hilton CEO sees \u2018opportunity\u2019 for hotel acquisitions skift. https:\/\/skift.com\/2024\/02\/07\/hilton-ceo-sees-opportunity-for-hotel-acquisitions-expect-more-luxury-lifestyle\/"},{"key":"e_1_3_3_29_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.tourman.2004.04.008"},{"key":"e_1_3_3_30_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijhm.2014.03.012"},{"key":"e_1_3_3_31_1","unstructured":"The Economist (2024) Can run-down blackpool turn itself around."},{"key":"e_1_3_3_32_1","doi-asserted-by":"publisher","DOI":"10.1177\/1938965518779538"},{"key":"e_1_3_3_33_1","doi-asserted-by":"publisher","DOI":"10.1080\/09669582.2019.1707215"},{"key":"e_1_3_3_34_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijhm.2015.06.003"},{"key":"e_1_3_3_35_1","doi-asserted-by":"publisher","DOI":"10.1080\/19368623.2024.2359597"}],"container-title":["Tourism and Hospitality Research"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/journals.sagepub.com\/doi\/pdf\/10.1177\/14673584251338438","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journals.sagepub.com\/doi\/full-xml\/10.1177\/14673584251338438","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/journals.sagepub.com\/doi\/pdf\/10.1177\/14673584251338438","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,5,2]],"date-time":"2026-05-02T05:11:35Z","timestamp":1777698695000},"score":1,"resource":{"primary":{"URL":"https:\/\/journals.sagepub.com\/doi\/10.1177\/14673584251338438"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,4,25]]},"references-count":34,"alternative-id":["10.1177\/14673584251338438"],"URL":"https:\/\/doi.org\/10.1177\/14673584251338438","relation":{},"ISSN":["1467-3584","1742-9692"],"issn-type":[{"value":"1467-3584","type":"print"},{"value":"1742-9692","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,4,25]]},"article-number":"14673584251338438"}}