Hotels' COVID-19 innovation and performance.

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.