Bounce-back strategies: Revitalizing the hotel industry post-pandemic

Vanegas-López, Juan Gabriel, López-Cadavid, Diego Alejandro, Mathew, Manoj, Vo-Thanh, Tan ORCID: https://orcid.org/0000-0001-9964-3724, Restrepo-Morales, Jorge Aníbal and Sthapit, Erose ORCID: https://orcid.org/0000-0002-1650-3900 (2024) Bounce-back strategies: Revitalizing the hotel industry post-pandemic. Tourism and Hospitality Research. ISSN 1467-3584

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Abstract

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.