How Hospitality Entrepreneurs Change Business Practices Under Covid-19 Pandemic: A Case Study of Small and Medium Sized Entrepreneurs at Lower Northeastern Thailand

Abstract

An adaptation by definition is something constructed or created from a diverse range of available things. This quantitative study focuses on the adaption methods of hospitality entrepreneurs during the Covid-19 pandemic. It introduces methods of adaptation for innovative hospitality management used by small and medium size hospitality entrepreneurs in Lower Northeastern Thailand. This study was fundamentally based on the theory of entrepreneurial bricolage behavior which find to understand the entrepreneurs do during the resource constraints due to the covid-19 pandemic. The sample population included 360 individuals with 55% females and 45 % males. The majority of the participants were owners (89%) of small hotels and guesthouses some with restaurants and other hospitality facilities such as spas and coffee shops. The methods discussed in the paper includes: adjustment in investment deferral; adjustment in effective cost reduction; reduce operating costs; management inventory downsizing; concentrate on innovation; negotiating the terms of various contracts; adjustment in getting help from the government and concentrate on activities that generate income for business. In other words an entrepreneurial adaptation of cost reductions in terms of facilities and personnel, as well as renegotiation with all stake holders including the government, that assisted far less in developing economies (EMDEs) and emerging markets then in European countries.