Fonte: Cuadernos de Turismo; No. 42 (2018): Julio - Diciembre; 547-560
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Resumo: This study intends to address the convenience of a methodology based on real options to assess investment projects in the sports tourism industry, using the case of the construction of a golf course as an example to illustrate the exposition. After evaluating the initial project, the analysis is complemented by considering the options to defer, abandon, expand and reduce the project. As a conclusion, it is recommended to exercise the option to defer and then exercise the option to reduce. This means delaying the start of the project, and then starting it with a smaller scale, which implies outsourcing part of the sports complex’s services. Although the real options methodology is a general-purpose approach, its application to the sports tourism industry is still limited. This article shows the usefulness of identifying flexibilization and modularity options in the sports tourism industry, given the temporal and financial dimension of its projects, and considering the uncertainty of the environment.
