Strategies for Hotels During Crises: Covid-19
- https://doi.org/10.2991/aebmr.k.220307.242How to use a DOI?
- economic crisis; Covid-19; strategies; hotel industry
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.
- © 2022 The Authors. Published by Atlantis Press International B.V.
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- 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 -