A Study on Covid 19 Impacts and Survival Strategy of the Hotel Business Concerning Kochi City in Kerala

Abstract

It is widely acknowledged that the hospitality sector is a part of the larger service sector and that it places more of an emphasis on experiences and luxury than on basic needs. It significantly influences the economics of several nations all over the world in a number of different ways. The most important contribution that industry contributes to a nation's economy is the development of new jobs. As an illustration, the agriculture and food producing industries, as well as the retail sector, both provide indirect jobs. Government taxes, foreign exchange, foreign direct investment, and other sources of income are just a few of the ways this industry makes money. The commercial value of the hospitality sector illustrates its significance. More than 1.2 trillion US dollars are generated annually by full-service eateries alone. The expansion of India's services sector has been considerably aided by tourists travelling to various locations. As a sub-segment of the services industry, restaurants, trade, and repair services are ranked third in India. Every sector of the global economy has been significantly impacted by the Covid-19 pandemic. This study focuses on how the pandemic affected Kochi City's hotel business as well as the companies' crisis management techniques.