<![CDATA[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 ]]>
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