What is Firm Resilience

As the hospitality industry is one of the industries most drastically affected by the COVID-19 pandemic, it is essential that managers of this industry develop effective strategies to reduce the damage of the pandemic and be better prepared for possible future crises. In this respect, this chapter discusses the effects of the COVID-19 pandemic on the hospitality industry and highlights preventive measures, employee support, service innovations, and CSR activities as the key strategic areas for enhancing resilience and recovery of hospitality firms during and even after the COVID-19 pandemic. This chapter also underlines the significance of adopting a holistic stakeholder approach that discusses the effects of the pandemic and proposed strategies from the perspective of multiple stakeholders, as the COVID-19 pandemic has affected them all.