INNOVATION IN RESPONSE TO THE CHALLENGES OF HOTEL COMPANIES CAUSED BY THE COVID-19

Abstract

Innovations are the key drivers of business activities in modern business conditions. The pandemic crisis has caused significant changes in the business environment of hotel companies. Innovation is recognized as a good tool for adapting to changing environmental conditions. In addition to the development of innovation, an additional challenge that hotel management faces in times of crisis relates to the profitability of investing in innovation. It is necessary to determine whether the limited and reduced budget, due to the crisis, can withstand additional financial investments in innovation. Therefore, it is necessary to investigate whether and how innovations in the hotel business can contribute to the successful adaptation of business to external circumstances. The aim of this paper is to, based on a review of previous research, describe the role and importance of innovation in hotels during the crisis. The research questions will be analysed using the method of analysis and synthesis as well as the method of induction and deduction. Innovations in the hotel would mean adapting/improving the business to a level that provides hotel guests with a healthy environment, safety and security in terms of regular hygiene in hotels and as well as additional training of employees to provide services safely. In order to ensure the profitability of investments in innovations, it is necessary to analyse in detail the wishes and needs of guests and how much could innovations satisfy these needs.