Purpose: The adoption of Virtual Reality (VR) is becoming increasingly common among tourism companies, seeking innovative solutions that allow for virtual exploration of destinations. To understand this new trend, this study explores in-depth the factors that influence the adoption of VR by tourism companies. Methods: Using the method of Interpretative Phenomenological Analysis (IPA) and the TOE theory (Technology-Organization-Environment), this study analysed the perceptions of tourism managers regarding their intention to include VR in their business models. Results: The results suggest that the adoption of VR is related to perceived usefulness, experience with technology, and attitude. COVID-19 also had a significant impact on the adoption of new technologies, opening the door for the introduction of VR in this sector. However, we realize that a lack of knowledge about issues such as the position of the competition, the return on investment in technological equipment and support for the introduction of VR into business models, inhibits managers from adopting VR equipment. Implications: It is evident from this study that VR could become part of tourism firms’ business strategies. This is where the business organizations can view VR as a successful means to meet customer demands and drive organizational efficiency.