Applied strategic management by managers in the hotel and tourism industry in Cyprus and Greece during the COVID-19 pandemic

Marcos Komodromos, Sameh Abadir, Baker Ahmad Alserhan, Daphne Halkias

Research output: Contribution to journalArticlepeer-review

Abstract

This qualitative study was conducted to help combat the adverse effects of the COVID-19 pandemic. The purpose of the study was to offer practical and tactical strategies for navigating the uncertainty and risk prevalent in today’s post-pandemic business environment in the hotel and tourism industry in Cyprus and Greece. Preliminary forecasts indicated that the tourism and hotel sector’s revenues would drop by 20% to 25% compared to 2019, amounting to four or five billion euros in losses. Data were collected from 32 hotel managers in Cyprus and Greece using a four-item web-based interview tool. It was identified that most SMEs encountered a reduction in sales and customer flow and an increase in the unemployment rate due to the COVID-19 pandemic. The managers proposed adopting business strategies and diversifications to generate sales from different sectors of the hotel business to aid in keeping the business afloat in case of a future crisis.

Original languageEnglish
Pages (from-to)378-399
Number of pages22
JournalJournal for International Business and Entrepreneurship Development
Volume14
Issue number3
DOIs
Publication statusPublished - 2022

Keywords

  • COVID-19
  • crisis
  • Cyprus
  • Greece
  • managers
  • qualitative study
  • small and medium-sized enterprises
  • SMEs
  • strategic management
  • tourism and hotel industry

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