Greek hospitality industry responses to the financial crisis

A case study of two Athenian hotels

Authored by: Georgios C. Papageorgiou

The Routledge Handbook of Hospitality Management

Print publication date:  March  2014
Online publication date:  March  2014

Print ISBN: 9780415671774
eBook ISBN: 9781315814353
Adobe ISBN: 9781317804246

10.4324/9781315814353.ch16

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Abstract

Change can be seen as an indispensable feature of the hospitality industry, and the decisions regarding how to engineer, implement and support change or how to respond to changes in the macro and micro environment for the benefit of organisational objectives are of great importance. This chapter focuses on the ‘what if’ question of how to prepare for, survive, and even benefit from, a crisis situation, i.e. a relatively abrupt change induced by usually unforeseen events. Although the term ‘crisis’ can refer to different types of occurrences or circumstances adversely affecting the normal flow of business, the last four years have given rise to a particular understanding of crisis and an instant association with the perceived/implied financial roots of the problem and concomitant economic, political, social, psychological, etc., repercussions.

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