Confidence Building Strategy of Hospitality Industry Amidst COVID 19 Pandemic

Confidence Building Strategy of Hospitality Industry Amidst COVID 19 Pandemic

Pratim Chatterjee ^1*, Namrata Chakrabortty ² , Ayan Mukhopadhyay ³

1. Assistant Professor in Hospitality, Amity University Kolkata, Kolkata 700156, India; Orchid ID: https://orcid.org/0000-0002-4136-8157
2. Assistant Professor, Guru Nanak Institute of Technology, Rajarhat, Kolkata 700135, India;

Orchid ID: https://orcid.org/0000-0002-1540-6332

3. Senior Lecturer, NIPS School of Hotel Management Kolkata, 700102, India;

Correspondence Author :

Mr. Pratim Chatterjee

Abstract

Hospitality industry is considered as a sunrise industry because it has high potential for growth, accounts for a considerable percentage of the GDP of the countries and is proved to be the main source of foreign exchange earner. Though the hospitality industry has the potential to be the major factor for the growth of the economy, the COVID-19 pandemic has affected this as never before. Now, it is critical whether the hospitality industry worldwide will revamp or drop down by losing the market share. This article aims to build confidence of popular hotel brands in the pandemic or post pandemic period by focusing on many brand building factors of the hospitality industry which are categorized as Inherited and Created factors. An effort is also put forward in the hospitality industry to improve all its facilities and standards to become market leader and most importantly, to gain back the confidence of the customers during or after this COVID 19 pandemic. Finally, importance of infrastructure capital, human capital, relationship capital and hygiene and safety capital in the hospitality industry are mentioned.

Keywords: Confidence building, COVID19, Inherited factor, Created factor, Hospitality industry