The role of business model innovation in the hospitality industry during the COVID-19 crisis

•Business model innovation is an important factor in responding to a crisis.•Financial support can be an inhibitor to innovation.•Crises in general can be enhancers for BMI in hospitality.•Stammgasts are important psychological and financial support during a crisis.•Stammgasts provide the foundation...

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Bibliographic Details
Published in:International journal of hospitality management 2021-01, Vol.92, p.102723-102723, Article 102723
Main Authors: Breier, Matthias, Kallmuenzer, Andreas, Clauss, Thomas, Gast, Johanna, Kraus, Sascha, Tiberius, Victor
Format: Article
Language:English
Subjects:
Business administration
Business model innovation
COVID-19
Crisis
Hospitality
Humanities and Social Sciences
Stammgasts
Tourism
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Summary:•Business model innovation is an important factor in responding to a crisis.•Financial support can be an inhibitor to innovation.•Crises in general can be enhancers for BMI in hospitality.•Stammgasts are important psychological and financial support during a crisis.•Stammgasts provide the foundational environment to engage in BMI during a crisis. The hospitality industry worldwide is among the hardest-hit industries from the COVID-19 lockdowns. Initial theoretical and practical observations in the hospitality industry indicate that business model innovation (BMI) might be a solution to recover from and successfully cope with the COVID-19 crisis. Interestingly, some firms in the hospitality industry already started to successfully adapt their business models. This study explores the why and how of these successful recovery attempts through BMI by conducting a multiple case study of six hospitality firms in Austria. We rely on interview data from managers together with one of their main stammgasts for each case, which we triangulate with secondary data for the analysis. Findings show that BMI is applied during and after the crisis to create new revenue streams and secure a higher level of liquidity, with an important role of stammgasts.
ISSN:0278-4319
1873-4693
DOI:10.1016/j.ijhm.2020.102723