Profit Optimization Strategies in Integrated Resorts - Case Study of the Sani Resort, Chalkidiki

Abstract

The integrated resorts are considered a contemporary tourism product contributing towards a country’s tourism development, sustainability and growth. The integrated resorts, being huge and significant investments for both the investors and the national economy, need a long-term strategic planning and management so as to be successful. The purpose of this paper is to seek the strategies contributing in the growth and profitability optimization of the integrated resorts. The methodological approach includes economic assessment, as well as benchmarking and empirical analysis of integrated resorts operating in Greece today. Furthermore, the most profitable Greek integrated resort is used as case study and interviews with executives at key positions are conducted for the identification of the specific strategies having enhanced the resort’s profitability. The identified strategies include: corporate expansion and continuous investments in the construction of new rooms, renovations and new facilities; market penetration especially in Russia and the W. Balkans; guest-centred philosophy; teamwork, highly motivated and competitive staff; exceptional and personalised services; sustainability commitment; contemporary technological systems; effective marketing tecniques; product development; state-of-the-art conference and meeting facilities; and, high quality animation and entertainment programs. The findings of this study are suggested as best practices for the profitability amelioration of integrated resorts.

Keywords: benchmarking, hospitality, hotels, integrated resorts, profitability, strategies