Unveiling Financial Crisis Drivers And Proposing A Sustainability Model In The Hotel Industry

This study aims to classify the factors contributing to financial crises in the hotel industry, structured according to the stages of crisis management. It seeks to identify and explore the fundamental causes of financial issues, addressing the gap in comprehensive frameworks for managing financial crises in this sector.The study employs a grounded theory approach with an applied, descriptive-correlational design. Data collection involved field and library methods, utilizing in-depth interviews and questionnaires. Theoretical saturation was achieved after 18 interviews, out of 22 conducted, and 180 questionnaires were distributed across five-star hotels during the first half of 2024. Commonality calculations indicated that all factors had values above 50%, affirming their capacity to explain variability.The findings reveal that the revenue phase, facilitation conditions, and supportive policies are among the critical factors influencing financial crises in the hotel industry during times of crisis. Variability among variables highlights the complexity of these relationships.This research addresses the lack of a comprehensive classification system for financial crisis management in the hotel industry. By employing a systematic approach to factor identification and categorization, it provides valuable insights for improving crisis management strategies and enhancing the industry's resilience.