DEVELOPING AN INTEGRATED MODEL FOR TOURISM HOLDING SUCCESS : LESSONS FROM GLOBAL BEST PRACTICES FOR INJOURNEY

Authors

DOI:

https://doi.org/10.31000/combis.v7i4.15239

Abstract

This study aims to develop an integrated conceptual model to analyze the determinants of success in the tourism and transportation holding, with INJOURNEY as a case study representing the strategic transformation of Indonesian state-owned enterprises (BUMN). A qualitative approach based on conceptual analysis and literature review from 2019–2023 was employed to identify eight key variables: strategic leadership, organizational culture integration, digital transformation, human resource management, regulatory framework, operational synergy, financial integration, and market positioning. The findings indicate that INJOURNEY’s success is highly dependent on the alignment among these variables, where strategic leadership and collaborative culture serve as the main drivers of cross-entity integration. Digital transformation enhances operational efficiency, while adaptive HR management and regulatory harmonization support organizational sustainability. Failure in one dimension can weaken the entire system’s performance. The study emphasizes the importance of adaptive governance, cross-functional coordination, and continuous innovation. Recommendations highlight strengthening transformational leadership, a comprehensive digital roadmap, and regulatory synchronization to enhance the competitiveness and sustainability of Indonesia’s tourism holding at the global level.

Keywords:Tourism Holding Company,Sstrategic Integration, Corporate Governance, Digital Transformation,Operational Synergy

 

References

Accenture. (2023). Digital integration in tourism holdings: Performance metrics and implementation challenges. New York, NY: Accenture Publications.

Accenture Indonesia. (2023). Digital transformation in integrated tourism holdings. Jakarta, Indonesia: Accenture Indonesia.

Airport Council International. (2023). Global airport performance benchmarking 2023. Montreal, Canada: Airport Council International.

Aviation Week. (2023). Airline operational excellence report 2023. New York, NY: Aviation Week Network.

Badan Pusat Statistik. (2023). Statistik transportasi laut dan udara Indonesia 2023. Jakarta, Indonesia: BPS RI.

Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.

Boston Consulting Group. (2021). Digital transformation in tourism holdings. Boston, MA: BCG Publishing.

Boston Consulting Group. (2023). Integrated tourism ecosystem development. Boston, MA: BCG Publishing.

Boston Consulting Group. (2023). Integrated tourism ecosystem development strategy. Jakarta, Indonesia: BCG Indonesia.

Boston Consulting Group (BCG). (2023). Success factors for integrated tourism and transportation holdings. Boston, MA: BCG Press.

Chen, L., & Zhang, W. (2023). Maritime operational efficiency in archipelagic nations. Maritime Policy & Management, 50(3), 345–362. https://doi.org/10.1080/03088839.2023.1234567

Chen, L., & Zhao, M. (2022). Organizational culture integration in tourism holdings. Journal of Sustainable Tourism, 30(4), 789–805. https://doi.org/10.1080/09669582.2021.1995398

Chen, L., & Zhao, X. (2022). Strategic leadership and investment attractiveness in tourism holdings: The mediating role of corporate governance. Journal of Sustainable Tourism, 30(5), 789–805.

Collis, D. J., Young, D., & Goold, M. (2007). The role of the corporate headquarters. Harvard Business Review, 85(5), 70–80.

Denison, D. R., Janovics, J., Young, J., & Cho, H. J. (2012). Diagnosing organizational cultures: Validating a model and method. International Journal of Human Resource Management, 23(1), 180–198.

Direktorat Jenderal Perhubungan Udara. (2023). Kinerja operasional penerbangan nasional tahun 2023. Jakarta, Indonesia: Kementerian Perhubungan RI.

European Tourism Commission. (2023). Best practices in tourism holding integration. Brussels, Belgium: ETC Publications.

European Tourism Commission. (2023). Human capital challenges in tourism holding companies. Brussels, Belgium: ETC Publications.

Garuda Indonesia. (2023). Laporan keuangan dan operasional kuartal III 2023. Jakarta, Indonesia: PT Garuda Indonesia.

Gould, M., Campbell, A., & Alexander, M. (2018). Corporate strategy in multi-business firms. London, England: Routledge.

Gupta, S., & Govindarajan, V. (2023). Organizational culture integration in global holdings: A comparative study. Journal of International Business Studies, 54(3), 345–362.

Gupta, S., Sharma, P., & Kumar, A. (2023). Digital transformation challenges in legacy tourism systems. International Journal of Hospitality Management, 108, 102567. https://doi.org/10.1016/j.ijhm.2022.102567

Hambrick, D. C., & Mason, P. A. (1984). Upper echelons: The organization as a reflection of its top managers. Academy of Management Review, 9(2), 193–206.

Harvard Business School. (2020). Managing mergers of state-owned enterprises. Boston, MA: HBS Press.

Harvard Business School. (2022). State-owned enterprise integration strategies. Boston, MA: HBS Press.

Holburn, G. L. F., & Zelner, B. A. (2010). Political capabilities, policy risk, and international investment strategy: Evidence from the global electric power generation industry. Strategic Management Journal, 31(12), 1290–1315.

Indonesia Tourism Development Corporation. (2023). Integrated tourism development report 2023. Jakarta, Indonesia: ITDC.

Institut Teknologi Bandung. (2023). Studi evaluasi integrasi BUMN pariwisata. Bandung, Indonesia: Center for Policy and Management Studies.

Kementerian BUMN. (2021). Laporan tahunan holding pariwisata Indonesia. Jakarta, Indonesia: Kementerian BUMN.

Kementerian BUMN. (2023). Laporan konsolidasi kinerja INJOURNEY 2023. Jakarta, Indonesia: Kementerian BUMN RI.

Kementerian BUMN. (2023). Laporan development progress INJOURNEY holding. Jakarta, Indonesia: Kementerian BUMN RI.

Kementerian PPN/Bappenas. (2020). Rencana pembangunan jangka menengah nasional 2020–2024. Jakarta, Indonesia: Bappenas.

Kementerian PPN/Bappenas. (2022). Laporan capaian target RPJMN 2020–2024. Jakarta, Indonesia: Bappenas.

Kim, Y., & Lee, S. (2023). Cross-selling strategies in integrated tourism groups. International Journal of Hospitality Management, 89, 102567. https://doi.org/10.1016/j.ijhm.2022.102567

Kotter, J. P., & Heskett, J. L. (1992). Corporate culture and performance. New York, NY: Free Press.

Li, W., Zhang, Y., & Chen, H. (2022). Digital investment returns in tourism conglomerates. Journal of Travel Research, 61(3), 567–582. https://doi.org/10.1177/00472875211024754

Li, X., et al. (2022). Digital investment returns in tourism holdings. Journal of Travel Research, 61(4), 678–695.

Liang, H., Wang, M., & Xue, Y. (2019). How regulatory adaptability affects innovation–performance relationship. Journal of International Business Studies, 50(6), 1005–1029.

McKinsey & Company. (2022). Global tourism holding performance report. New York, NY: McKinsey Publishing.

McKinsey & Company. (2023). Global tourism holding performance benchmarking. New York, NY: McKinsey Publishing.

McKinsey & Company. (2023). Risk management in tourism holdings. Jakarta, Indonesia: McKinsey Indonesia.

McKinsey & Company. (2023). Digital transformation in global tourism holdings. New York, NY: McKinsey Publications.

Miller, J., & Smith, R. (2023). Managing performance integration in complex holdings. Harvard Business Review, 101(4), 112–125. https://doi.org/10.1016/S0262-1762(23)00012-3

Ministry of Transportation. (2023). Maritime connectivity development report 2023. Jakarta, Indonesia: MOT.

Nakamura, T., Sato, K., & Yamamoto, Y. (2023). Human resource challenges in tourism mergers. Journal of Human Resources in Hospitality & Tourism, 22(1), 45–63. https://doi.org/10.1080/15332845.2022.2106492

Nakamura, T., et al. (2023). Talent management in integrated tourism companies. Journal of Human Resources in Hospitality & Tourism, 22(1), 45–67.

Organisation for Economic Co-operation and Development. (2022). Governance frameworks for tourism holdings. Paris, France: OECD Publishing.

Organisation for Economic Co-operation and Development. (2022). Tourism policy review of Indonesia. Paris, France: OECD Publishing.

Otoritas Bandara Indonesia. (2023). Statistik kinerja bandara Indonesia 2023. Jakarta, Indonesia: OBI.

Peng, M. W., Wang, D. Y. L., & Jiang, Y. (2008). An institution-based view of international business strategy: A focus on emerging economies. Journal of International Business Studies, 39(5), 920–936.

Porter, M. E. (1985). Competitive advantage: Creating and sustaining superior performance. New York, NY: Free Press.

PT Pengembangan Pariwisata Indonesia. (2023). Laporan tahunan dan sustainability report 2023. Jakarta, Indonesia: PT PPI.

Santos, R., & Chen, H. (2023). Operational performance and revenue optimization in airlines. Journal of Air Transport Management, 108, 102398. https://doi.org/10.1016/j.jairtraman.2022.102398

Schein, E. H. (1985). Organizational culture and leadership. San Francisco, CA: Jossey-Bass.

Schmidt, A., & Müller, R. (2021). Longitudinal study of European tourism holdings. Tourism Management, 84, 104289. https://doi.org/10.1016/j.tourman.2021.104289

Schmidt, R., & Müller, H. (2021). Human capital development in tourism mergers. Tourism Management, 82, 104–118.

Singapore Tourism Board. (2023). Integrated tourism holding models in Southeast Asia. Singapore: STB Research Division.

Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–533.

Universitas Indonesia. (2022). Studi integrasi BUMN sektor pariwisata. Jakarta, Indonesia: UI Press.

Wang, Y., Liu, X., & Zhang, J. (2023). Airport economics and holding company value creation. Transportation Research Part E: Logistics and Transportation Review, 158, 104234. https://doi.org/10.1016/j.tre.2022.104234

Wang, Y., et al. (2021). Industrial policy and competitive advantage in manufacturing. Research Policy, 50(7), 104–125.

Wang, Y., et al. (2023). Synergy realization in airport networks. Transportation Research Part E: Logistics and Transportation Review, 159, 102–118.

Williams, A. M., & Tanaka, T. (2023). Remuneration systems in integrated tourism firms. Annals of Tourism Research, 88, 103–115.

Williams, D., & Tanaka, Y. (2023). Regulatory challenges in Southeast Asian tourism holdings. Annals of Tourism Research, 98, 103–245. https://doi.org/10.1016/j.annals.2022.103245

World Bank. (2021). Indonesia tourism development report. Washington, DC: World Bank Publications.

World Bank. (2022). Indonesia tourism development and challenges. Washington, DC: World Bank Publications.

Zhang, H., & Li, W. (2023). Integrated tourism development in Southeast Asia. Tourism Management, 84, 104289. https://doi.org/10.1016/j.tourman.2022.104289

Downloads

Published

2025-11-28

Issue

Vol. 7 No. 4 (2025): November

Section

Articles

License

The author submits the manuscript with the understanding that if it is accepted for publication, the copyright of the article will be granted to the Comparative Journal: Economics and Business (JCEB) and the Faculty of Economics and Business, University Of muhammadiyah Tangerang, Indonesia as the publisher of the journal.

Comparative Journal: Economics and Business (JCEB) first publication rights with works licensed simultaneously under a Creative Commons Attribution-ShareAlike 4.0 International License (CC BY-SA 4.0) which allows others to share (copy and redistribute material in the media or any format) and adapt (remix, modify, and build upon material) the work for any purpose, even commercially with acknowledgment of the work's authorship and initial publication in Comparative Journal: Economics and Business (JCEB). Authors may enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal published version of the work (for example, posting it to an institutional repository or publishing it in a book), with an acknowledgment of its initial publication in the Comparative Journal: Economics and Business (JCEB). Authors are permitted and encouraged to post their work online (for example, in an institutional repository or on their website) prior to and during the submission process, as this can lead to productive exchanges, as well as earlier and larger citations of published work (See The Effect of Open Access).