The Paths to an Enhanced Ecosystem for International Hotel Chains

Given the severe financial impact on the hospitality and tourism sector caused by the pandemic, this paper proposes a series of strategic actions in an enhanced service ecosystem to transform a value preservation approach to value creation with a focus on the international hotel chains (IHCs), referred to as keystone firms. The paper first reviews the relevant literature on the ecosystem, value creation, and their relevance to service firms and IHCs, followed by presenting and discussing several successful examples of ecosystem strategies adopted by IHCs. Drawing on this discussion, the paper proposes five pathways or strategies to enhance the ecosystem of IHCs to achieve value creation for relevant stakeholders. Future research in this vein is suggested to conclude this paper.