Pathways for Business Recovery from a Sustained Health Crisis – the Case of Ihcs

Abstract

In view of the severe financial impact on the hospitality and tourism sector caused by the COVID-19 pandemic, this paper proposes a series of strategic actions in an enhanced service ecosystem to transform a value preservation approach responding to the pandemic to value creation with a focus on the international hotel chains (IHCs), referred to as keystone hotels. The paper first reviews the relevant literature on the ecosystem, value creation and their relevance to service firms and IHCs, followed by presenting and discussing a successful ecosystem example of Intercontinental Hotels Group. Drawing on this discussion, the paper proposes five pathways or strategies to enhance the ecosystem of IHCs to achieve value creation for relevant stakeholders. Future research in this vein is suggested to conclude this paper.

Keywords: ecosystem, COVID-19, hospitality and tourism, business recovery