Juan Gabriel Vanegas-López, Diego Alejandro López-Cadavid, Manoj Mathew, Tan Vo-Thanh, Jorge Aníbal Restrepo-Morales, Erose Sthapit
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Bounce-back strategies: Revitalizing the hotel industry post-pandemic
The COVID-19 pandemic severely disrupted the hotel industry, necessitating a reevaluation of competitive strategies. This study examines viable strategies for revitalizing hotel operations in the post-pandemic context, focusing on Medellín, Colombia. Using the Fuzzy Analytic Hierarchy Process (FAHP) technique, we evaluate the relative importance of different strategies and their applicability in different scenarios. The study identifies five key strategies, prioritized as follows: differentiation, service development, market penetration, liquidation, and backward integration. Our findings show that while traditional strategies such as differentiation remain highly valued, their implementation during the pandemic is challenging. The inclusion of liquidation among the top strategies indicates the severe impact of the crisis. The proposed model allows for a comprehensive assessment of strategic approaches and emphasizes the importance of adaptability in responding to unprecedented challenges. This research contributes new insights to the evaluation of competitive strategies in the context of a global crisis and provides a methodological framework that can inform strategic decision-making in the hotel industry as it copes with recovery and future uncertainties.
期刊介绍:
Tourism and Hospitality Research is firmly established as a leading and authoritative, peer-reviewed journal for tourism and hospitality researchers and professionals. Tourism and Hospitality Research covers: • Hospitality and tourism operations • Marketing and consumer behaviour • HR management • Social Media and Marketing • Technology • Planning and development • Policy • Performance and financial management • Strategic implications • Environmental aspects • Forecasting and prediction • Revenue management • Impact assessment and mitigation • Globalisation • Research methodologies • Leisure and culture • Risk Management • Change Management