Hotel strategies in times of COVID-19: a dynamic capabilities approach

ABSTRACT

The aim of this research is to explore the positive effect of dynamic capabilities on firm performance in Spanish hotels to further expand the ongoing knowledge of management strategies in a dynamic environment. It also embraces novel issues by linking uncertain changes with the current literature on the COVID-19 crisis. This study also emphasizes the mediation effect of innovation capability as a key hotel strategy in today’s world. The final sample is composed of 212 hotels in Spain. The results reveal a positive and significant influence of dynamic capabilities on hotel performance, which is mediated by innovation capability (partial mediation effect). Both theoretical and practical implication of this research can help navigate the economic consequences of the COVID-19 pandemic.

KEYWORDS:

• Dynamic capabilities
• innovation capability
• performance
• hospitality sector
• environmental change

Highlights

The results reveal that exist an important positive and significant relationship between dynamic capabilities and hotel performance mediated by the innovative capability (partially mediation effect). The practical implications of this research can act as a navigator of the economic consequences caused by the COVID-19 pandemic and the emergency of this kind of studies is overwhelming today

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Notes on contributors

Bartolomé Marco-Lajara

Bartolomé Marco-Lajara is University Professor and head of the department of Business Organization at the University of Alicante (Spain). Lorena Ruiz-Fernández, Pedro Seva-Larrosa and Eduardo Sánchez-García are Postgraduate Teaching Assistants (TA) of Management at University of Alicante (Spain).