Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

Strategies for Hotels During Crises: Covid-19

Authors
Marlene Meiling Liu1, *, Xiaoyang Zhao2, Steven Jiahua Ye3, Xingyu Zhang4, Jingyi Zhu5
1Shanghai American School Pudong, 201201, Shanghai, China.
2Tianjin Foreign Language School 300230, Tianjin, China.
3Shanghai Pinghe School, 201206, Shanghai, China.
4Binghamton University, 13850, Binghamton, New York, US.
5Hangzhou Foreign language school, 31000, Hangzhou, China.
*Corresponding author. Email: marleneliu9@outlook.com
Corresponding Author
Marlene Meiling Liu
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.242How to use a DOI?
Keywords
economic crisis; Covid-19; strategies; hotel industry
Abstract

In an economic crisis, most industries suffer from tremendous losses. While many companies hardly make it through the crisis, others take the opportunity to develop their brands and lay a solid foundation for their future. Unlike other economic crises, the recent crisis that started in 2020 was caused by a virus — Covid-19. In our study, we summarized five strategies from past studies: adjustment in spendings, lowering prices, innovation on products, new advertising channels, and changing advertising content. For businesses, especially the hotel industry, these strategies could help them cope with this crisis and further develop their businesses. In addition to learning from the past, we analyzed different hotels’ actions and compared them with our strategies.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.242How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Marlene Meiling Liu
AU  - Xiaoyang Zhao
AU  - Steven Jiahua Ye
AU  - Xingyu Zhang
AU  - Jingyi Zhu
PY  - 2022
DA  - 2022/03/26
TI  - Strategies for Hotels During Crises: Covid-19
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1477
EP  - 1480
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.242
DO  - https://doi.org/10.2991/aebmr.k.220307.242
ID  - Liu2022
ER  -