@article{BreierKallmuenzerClaussetal.2021,
  author    = {Breier, Matthias and Kallmuenzer, Andreas and Clauss, Thomas and Gast, Johanna and Kraus, Sascha and Tiberius, Victor},
  title     = {The role of business model innovation in the hospitality industry during the COVID-19 crisis},
  series = {International journal of hospitality management},
  volume    = {92},
  journal   = {International journal of hospitality management},
  publisher = {Elsevier},
  address   = {Amsterdam},
  issn      = {0278-4319},
  doi       = {10.1016/j.ijhm.2020.102723},
  pages     = {10},
  year      = {2021},
  abstract  = {The hospitality industry worldwide is among the hardest-hit industries from the COVID-19 lockdowns. Initial theoretical and practical observations in the hospitality industry indicate that business model innovation (BMI) might be a solution to recover from and successfully cope with the COVID-19 crisis. Interestingly, some firms in the hospitality industry already started to successfully adapt their business models. This study explores the why and how of these successful recovery attempts through BMI by conducting a multiple case study of six hospitality firms in Austria. We rely on interview data from managers together with one of their main stammgasts for each case, which we triangulate with secondary data for the analysis. Findings show that BMI is applied during and after the crisis to create new revenue streams and secure a higher level of liquidity, with an important role of stammgasts.},
  language  = {en}
}
@article{KrausClaussBreieretal.2020,
  author    = {Kraus, Sascha and Clauss, Thomas and Breier, Matthias and Gast, Johanna and Zardini, Alessandro and Tiberius, Victor},
  title     = {The economics of COVID-19},
  series = {International journal of entrepreneurial behaviour \& research},
  volume    = {26},
  journal   = {International journal of entrepreneurial behaviour \& research},
  number    = {5},
  publisher = {Emerald},
  address   = {Bingley},
  issn      = {1355-2554},
  doi       = {10.1108/IJEBR-04-2020-0214},
  pages     = {1067 -- 1092},
  year      = {2020},
  abstract  = {Purpose Within a very short period of time, the worldwide pandemic triggered by the novel coronavirus has not only claimed numerous lives but also caused severe limitations to daily private as well as business life. Just about every company has been affected in one way or another. This first empirical study on the effects of the COVID-19 crisis on family firms allows initial conclusions to be drawn about family firm crisis management. Design/methodology/approach Exploratory qualitative research design based on 27 semi-structured interviews with key informants of family firms of all sizes in five Western European countries that are in different stages of the crisis. Findings The COVID-19 crisis represents a new type and quality of challenge for companies. These companies are applying measures that can be assigned to three different strategies to adapt to the crisis in the short term and emerge from it stronger in the long run. Our findings show how companies in all industries and of all sizes adapt their business models to changing environmental conditions within a short period of time. Finally, the findings also show that the crisis is bringing about a significant yet unintended cultural change. On the one hand, a stronger solidarity and cohesion within the company was observed, while on the other hand, the crisis has led to a tentative digitalization. Originality/value To the knowledge of the authors, this is the first empirical study in the management realm on the impacts of COVID-19 on (family) firms. It provides cross-national evidence of family firms' current reactions to the crisis.},
  language  = {en}
}