Small and Medium Tourism Enterprise Survival in Times of Crisis

This case study is intended to analyze, through a longitudinal analysis, the radical business model innovation experienced a Cantabrian tourism company that exploits a protected cultural property called “El Capricho de Gaudí.” More specifically, this chapter focuses on the manager attitudes toward risk and their influence on response strategies implemented to redefine and renew this business model for competitiveness and survival. The results of the analysis contribute to generate knowledge about how a solid and well-established small experienced cultural-based tourism enterprise reformulates its business model to survive in time of crisis.