Capturing value from innovation in tourism sector

Developing and maintaining the competitive advantages of tourism enterprises based on their innovative activity is fundamental for successful functioning in the tourism economy based on knowledge. At the same time, the scientific discussion about innovation in tourism is focused on problems concerning sources of innovations, their design and implementation, while the issue of capturing value from innovation is lacking in the literature. It is surprising, giving that the ability of an enterprise to retain value is a necessary condition for enhancing its competitiveness. Both theory and practice present a wide range of different value capture mechanisms which could be used by the tourist enterprises. However, not all of those mechanisms are fully compatible with the specificities of service activities, provided in the tourism sector. This paper presents the most common mechanisms which, despite their limitations, may significantly support tourist enterprises in battles for value from the implemented innovations