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Hotels' COVID-19 innovation and performance.

Abhinav Sharma1, Hakseung Shin2, María Jesús Santa-María3

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Hotels must innovate to restore guest confidence post-pandemic. Shareholder perceptions show product innovations are most effective for business recovery and safety.

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Area of Science:

  • Business Management
  • Hospitality Innovation
  • Consumer Behavior

Background:

  • The COVID-19 pandemic necessitates significant business practice reassessment in the hotel industry.
  • Restoring consumer confidence requires innovative strategies focused on health and safety for guests and employees.

Purpose of the Study:

  • To evaluate the effectiveness of pandemic-driven innovations in the hotel sector.
  • To analyze shareholder perceptions regarding these new business strategies.

Main Methods:

  • Empirical analysis of shareholder perceptions of hotel innovations.
  • Assessment of differential impacts across various innovation types.

Main Results:

  • Implemented innovations are perceived as effective by shareholders.
  • Product innovations are particularly effective among the assessed strategies.
  • Varied effectiveness exists among different types of innovations.

Conclusions:

  • Hotels should prioritize and expand successful innovations, especially product-focused ones.
  • Discontinuing less effective innovations is recommended for resource optimization.
  • Strategic innovation is key for hotel resilience and recovery in the post-pandemic era.