Journal
JOURNAL OF HOSPITALITY AND TOURISM MANAGEMENT
Volume 38, Issue -, Pages 27-38Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jhtm.2018.10.002
Keywords
Developing economies; Hotel industry; Crisis; Strategic management
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The terrorist attacks of 9/11 and the financial crisis of 2008 had a considerable impact on the hospitality industry around the World. Using monthly STR hotel data for Honduras and Costa Rica, this study investigates if differences exist among these two countries and their impacts on the hotel industry. The results indicate that the two crises are not the same, impacting Costa Rica more negatively then Honduras. In addition, the crisis of 2008 had a more negative impact than the 9/11 crisis, highlighting the differences between the crises. The tourists' origin, mode of transportation, hotel segment, the level of tourism development and institutional environment may have some influence on how destinations respond to crises. This study provides numerous managerial and empirical implications.
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