Value Creation Strategies for Enhance Competitiveness of Hotel Business to Effectiveness Move Forward
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Abstract
The hotel business has been affected by the epidemic of the COVID-19 as continually occurring. Each hotel has implemented strategies to deal with problems and obstacles in a variety of ways to let the business go through the crisis and survive the changing business environment, including supply and demand. This article aimed to bring out a concept for creating value that could be applied as a strategic direction for the hotel business today and in the future. The value creation strategy is consisted of 4 concepts: (1) experiencescape; (2) service innovation; (3) modern hotel staff's attributes; and (4) creating a sustainable image and digital marketing. These concepts will benefit the hotel business in terms of integrating and adapting the suitable strategy used for each specific type of hotel business as a way to create an overall "value" experience for guests, staff, and the hotel owners. Moreover, the perception of value plays a vital role in arousing customer satisfaction and the behavioral intentions of future guests, thereby giving rise to staff satisfaction, which leads to a reduction in the cost of recruiting, training, and staff placement. Accordingly, implementation of the value creation strategy could strengthen the differentiation and competitiveness of hotels, which is considered a long-term business success.
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