A business mix is a combination of products or services the company sells, activities it’s engaged in, or customer groups it targets. Often, a diversified business mix means higher stability and lower risks.
In the travel domain, an example of a business mix can be a tour operator that creates tour packages for different needs, e.g., sightseeing bus tours, romantic getaways, family packages, etc.
In hospitality, a business mix usually refers to the ratio of different types of guests a hotel caters to, e.g., leisure travelers, business travelers, families with kids, luxury lovers, adventure seekers, etc. Depending on their location and amenities, some properties choose to focus mainly on one clientele type, while others have a more diversified business mix of several categories.