Impact of COVID-19 on Hospitality Industry: A Case Study on Savoy Hotel
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This research investigates the impact of COVID-19 on the hospitality industry, with a case study on the UK-based luxury hotel Savoy. It aims to understand the changes in the industry, impact on consumer behavior, challenges faced, and identify solutions.
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Contents TITLE: An investigation into impact of COVID-19 on the hospitality industry. A case study on Savoy Hotel......................................................................................................................................3 INTRODUCTION...........................................................................................................................3 Research Background......................................................................................................................3 Research Aim and Objectives..........................................................................................................4 Research rationale............................................................................................................................4 TASK 2............................................................................................................................................5 Critical reflection.............................................................................................................................5 2
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TITLE:AninvestigationintoimpactofCOVID-19onthehospitality industry. A case study on Savoy Hotel. INTRODUCTION The hospitality industry has been hardest hit by the COVID-19 pandemic, as hospitality is dependent on travel and tourism, which was restricted during the height of COVID-19 pandemic in major tourism areas across the world. COVID-19 has not only affected the profitability of the hospitality industry, but also introduced new inventions and practices in the hospitality industry, which were initiated in order to handle changing consumer behavior during COVID-19. This research focuses on the impact of COVID-19 on the hospitality industry and the selected organization for this investigation is the UK based luxury Hotel Savoy. Background of the company: Savoy Hotel is considered one of the most luxurious hotels in United Kingdom and is located on the posh area of central London. The hotel is near river themes and offers in rumors, wide variety of amenities as well as hospitality services, including dining and free Wi-Fi services. The Savoy hotel has been considered a leader in the hospitality industry of United Kingdom because it has adopted the hospitality services to fit needs of the consumers and ensure that consumers gain the best experience. The Subway hotel has been in the hospitality industry of United Kingdom for the past 130 years offering consumers exceptional luxury experience. Research Background The hospitality industry is one of the most volatile industries in the world because it is affected by various externalfactors such as travelingconditionsand changing consumer demands. This means that businesses in the hospitality industry have to continuously innovate and reinvent themselves in order to ensure that consumers are attracted to the company, and the company remains in a competitive position. COVID-19pandemic led to closure of various tourism and travel sites along with international travelas various governmentsimpacted guidelinestoreducespreadofthevirus.InUnitedKingdom,theimplementationofa countrywide lockdown affected the hospitality industry and influenced the industry to change its ways in order to facilitate better profitability after the pandemic. Businesses across the hospitality industry have adopted new practices and innovative techniques in order to attract consumers. In a post covert environment. It is important to 4
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understand the ways in which the hospitality industry can quickly cover from the COVID-19 pandemic and the overall impact. In addition to this, the understanding the changes in consumer behavior because of the COVID-19 pandemic in case of hospitality industry can also help businesses make plans for future changes. it is important to conduct research on the topic of impact of COVID-19 on the hospitality industry because it helps domain strategies which can be used by the hospitality industry to recover and flourish in the aftermath of COVID-19 pandemic. Research Aim and Objectives Research aim: The aim of the research is to “examine the impact of COVID-19 on the hospitality industry. A case study on Savoy Hotel” Research Objectives: To understand the changes in hospitality industry introduced by COVID-19. A case study on Savoy Hotel. To determine impact of COVID-19 on hospitality consumer behaviour. A case study on Savoy Hotel. To evaluate the challenges faced by hospitality sector because of COVID-19. A case study on Savoy Hotel. To identify solutions which can help hospitality industry from negative impact of COVID-19. A case study on Savoy Hotel. Research Questions: What are the changes in hospitality industry introduced by COVID-19? What is the impact of COVID-19 on hospitality consumer behaviour? What are the challenges faced by hospitality sector because of COVID-19? What are the solutions which can help hospitality industry from negative impact of COVID-19? Research rationale The reason behind selection of impact of global 19 on the hospitality industry as the research topic is that hospitality industry has been fatally affected by the COVID-19 pandemic and conducting research on this area can help understand the impact of global crisis on businesses and the ways in which businesses can take action to recover from global crisis situations. This will help build understanding of the ways in which businesses can recover from 5
crisis situation, which is useful in developing professional knowledge needed to survive in the corporate world.The personal interest of developing knowledge about the hospitality industry is another reason for conducting research on the specific topic. In addition to this understanding, the environment of hospitality industry will provide sufficient managerial knowledge useful in time of crisis which can help gain success in future career. Finally, personal interest in startingown enterprise will also benefit from this research, as looking at the ways global crisis affects the hospitality industry can develop knowledge about how to manage enterprise to survive crisis situations. TASK 2 Critical reflection From the above, I have learned that the impact of COVID-19 are enhancing day by day within hospitality industry. This has been that COVID-19 has huge impacts upon particular sector. Moreover, I have evaluated thatCOVID-19 has not only affected the profitability of the hospitality industry, but also introduced new inventions and practices in the hospitality industry, whichwere initiatedin order to handlechanging consumer behavior during COVID-19. Hospitality have been hit hard by corona virus pandemic as well as effect has been uneven; clubs and bars having fared the worst but campsites has relatively effective year in comparison to rest of the industry. Along with this, customers spending upon hospitality initiated for enhancing in year 2021 but remains at lesser than 70% of pre-pandemic levels; a similar image is been seen in turnover. Also, the job vacancies within hospitality industry has been huge enhances as well as are higher than pre-pandemic levels. However into June 2021, the number of staff in sector remained 11% below February 2020 levels. In addition to this, COVID-19pandemic led to closure of various tourism and travel sites along with international travel as various governments impacted guidelines to reduce spread of the virus. In United Kingdom, the implementation of a countrywide lockdown affected the hospitality industry and influenced the industry to change its ways in order to facilitate better profitability after the pandemic. Also,the understanding the changes in consumer behavior because of the COVID-19 pandemic in case of hospitality industry can also help businesses make plans for future changes. 6
Furthermore, The Code of Practice for Research is vital reference tool for supporting the investigators as well as research firms into conduct of study of higher standards and quality. Additionally, there are various code of practice are as follows: The integrity of any investigations is based not upon their scientific rigour, but also on their ethical adequacy. Ethical problems are various and varied, as well as can be quite difficulties. In addition to this, research incorporating participants of human is considered through several different disciplines and perfume into a wider range of institutions and settings. While few problems are particular towards specific professional groups, whole investigation might be guided through a set of primary ethical principles for assuring the safeguards of human participants. Various procedures of investigation might be described upon an information sheet written into simple language which is simple comprehensible through potential participants of study Additionally, the information sheet might set out: the intent of research, process risk, any advantages to individuals or others in future or to society, a statement which person can reduce to participates, those participation is voluntary as well as informed related to withdrawal process and invitation for asking questions. Participants have to acknowledge the intent as well as nature of research , what participation into investigation needs as well as how the outcomes or findings would be utilised. Voluntary informed consent, have generally be gained from any participants who become competent for providing those consent. If deception is needed for the research, as well as have been approved ethically thereafter they also required to be an effective debriefing document for participants. ResearcherhastofollowtheUniversity’sDataProtectionPolicyandGuidelines. Moreover, the University Data Protection policy and students privacy notice sets the rules for adherence to needs of data protection laws. Researchers have to be aware of risks to anonymity, privacy and confidentiality that posed through whole forms of personal information storage as well as processing that incorporates paper & computer files, e-mail records, audio and videotapes or any other data which determines an individual. 7
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CONCLUSION As per the above, it has been concluded thatCOVID-19 has not only affected the profitability of the hospitality industry, but also introduced new inventions and practices in the hospitality industry, which were initiated in order to handle changing consumer behavior during COVID-19. 8
REFERENCES Books and Journals Davahli, M.R., Karwowski, W., Sonmez, S. and Apostolopoulos, Y., 2020. The hospitality industryinthefaceoftheCOVID-19pandemic:Currenttopicsandresearch methods.International Journal of Environmental Research and Public Health,17(20), p.7366. Jiang, Y. and Wen, J., 2020. Effects of COVID-19 on hotel marketing and management: a perspective article.International Journal of Contemporary Hospitality Management. Kaushal,V. and Srivastava,S., 2021. Hospitalityand tourismindustry amidCOVID-19 pandemic: Perspectives on challenges and learnings from India.International journal of hospitality management,92, p.102707. Kaushal,V. and Srivastava,S., 2021. Hospitalityand tourismindustry amidCOVID-19 pandemic: Perspectives on challenges and learnings from India.International journal of hospitality management,92, p.102707. Sanabria-Díaz, J.M., Aguiar-Quintana, T. and Araujo-Cabrera, Y., 2021. Public strategies to rescue the hospitality industry following the impact of COVID-19: A case study of the European Union.International Journal of Hospitality Management,97, p.102988. 9