This industry can be divided in four strategic group according two axes, the value axes and the

diversification axes. The first group, on the top left, is composed mainly by companies focus on one of the three main sector, accommodation, travel agencies and airlines, and competing on the high value market segment. Here we find Lufthansa, Hilton Hotels and Resorts, Air rance and !L". Their focuses is on one sector and provide high value services. The second group, top right, is formed by the companies that act in more than one sector and, again, in the high value segments. Here we include groups such as #arlson, Tui or American $xpress. Their presence in the different sectors varies between companies. American $xpress is focus on the business segment proving services for all their needs. #arlson #ompanies act through a big number of subsidiaries. They are present in the accommodation sector with the #arlson Hotels %orld%ide, in the travel agencies sector with #arlson %agonlit Travel. &n the bottom left we have the third group represented by Ryanair, a airline company speciali'ed in low(cost flight. This group if formed by organi'ation focused on one sector alone like the first group but differ on the value range segment. )n these group we can include *ousadas da +uventude, as a group on the accommodation sector. The last one is characteri'ed by conglometares positioned in the low level range of value. The main example is the $asy,roup, which is an aggregate of -$asy., companies each acting in a different low cost market. As an example we have $asy+et in air transportation and $asyHotels in the accommodation sector.