Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/91712
| Title: | Business model adaptation as a strategic response to crises : navigating the COVID-19 pandemic | Authors: | Chanyasak, T Koseoglu, MA King, B Aladag, OF |
Issue Date: | 2022 | Source: | International journal of tourism cities, 2022, v. 8, no. 3, p. 616-635 | Abstract: | Purpose: This study aims to explore how hotels adapt their business models as a strategic response to crisis situations. It sheds light on the processes and methods of business model adaptation during severe crisis situations, such as the COVID-19 outbreak. Design/methodology/approach: A single-case study was conducted. Data were collected from the owner/manager of a boutique hotel chain in Chiang Mai, Thailand through an extensive interviewing process. The authors also examined corporate documents. The authors then re-organized the material as a coherent narrative about how the company navigated the COVID-19 crisis. Findings: The findings show that the hotels in the study adapted their business models by cutting costs through stopping non-essential operations, increasing non-room revenues and adding new revenue channels, bringing in cash from advance bookings, securing financial support from creditors, leveraging government support and training staff for the “new normal.” Originality/value: Few previous studies have focused on business model adaptation during the COVID-19 crisis. The investigation of this largely neglected area provides two main contributions. First, it extends the literature on crisis management in hospitality firms by examining business model adaptation patterns and processes during unprecedented crisis conditions. Second, it provides managerial insights and a business model adjustment framework to help practitioners in urban settings in their efforts toward recovery from the COVID crisis. |
Keywords: | Thailand Crisis Business strategy Business model innovation Chiang Mai Pandemics COVID-19 |
Publisher: | Emerald Group Publishing Limited | Journal: | International journal of tourism cities | ISSN: | 2056-5607 | EISSN: | 2056-5615 | DOI: | 10.1108/IJTC-02-2021-0026 | Rights: | This article is © International Tourism Studies Association and permission has been granted for this version to appear here https://ira.lib.polyu.edu.hk/. Permission is not granted for this article to be further copied/distributed or hosted elsewhere without the express permission of the publisher Emerald Publishing Limited. The following publication Chanyasak, T., Koseoglu, M.A., King, B. and Aladag, O.F. (2022), "Business model adaptation as a strategic response to crises: navigating the COVID-19 pandemic", International Journal of Tourism Cities, Vol. 8 No. 3, pp. 616-635 is available at https://dx.doi.org/10.1108/IJTC-02-2021-0026. |
| Appears in Collections: | Journal/Magazine Article |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Chanyasak_Business_Model_Adaptation.pdf | Pre-Published version | 1.07 MB | Adobe PDF | View/Open |
Access
View full-text via PolyU eLinks 
Page views
131
Last Week
0
0
Last month
Citations as of May 28, 2023
Downloads
16
Citations as of May 28, 2023
SCOPUSTM
Citations
2
Citations as of Jun 2, 2023
WEB OF SCIENCETM
Citations
2
Citations as of Jun 1, 2023
Google ScholarTM
Check
Altmetric
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.