Abstract
This study examined the impacts of perceived risks on information search and risk reduction strategies as well as the relative importance of each risk reduction strategy. Multiple regression analysis was applied to analyze the sample of South Korean hotel customers and to test the hypotheses of the study. It was found that when hotel customers faced the same kind of risk, they adopted different information search strategies to reduce various risks during the COVID-19 pandemic. Moreover, ‘following hotel employee’s advice’ was perceived to be the most important information search strategy to reduce risks. This is the first study to compare the differences of perceived risk and information search strategies under the COVID-19 pandemic and normal conditions to help hotels to develop more effective strategies to recover from the pandemic. The results of the study should be interpreted with care since it was based on Korean hotel customers. The influence of cultural differences in perceived risk and information search strategy should be addressed in future studies. The study contributes to the tourism and hospitality information search and risk reduction strategy-related literature and recommends avenues for further research in the field.
Highlights
The COVID-19 outbreak has had devastating impacts on the lives of millions by causing unprecedented social and economic turmoil in societies worldwide
The COVID-19 pandemic has had an unparalleled level of transmission causing devastating impacts on hospitality firms, employees, and customers compared with previous pandemics [2]
It was found that hotel customers searched for hotel information directly and sought purchasing experiences to reduce financial and physical risks [42]
Summary
The COVID-19 outbreak has had devastating impacts on the lives of millions by causing unprecedented social and economic turmoil in societies worldwide. Governments across the world have adopted various countermeasures including quarantines, social distancing, avoidance of large gatherings, and travel restrictions to prevent the transmission of the virus from person to person. At the same time, such countermeasures have had adverse impacts on the global economy, including the tourism and hospitality industry. The COVID-19 pandemic has had an unparalleled level of transmission causing devastating impacts on hospitality firms, employees, and customers compared with previous pandemics [2]. Customers become conscious of the risk when they recognize a demand for a product or service [3]. Customers’ perceived risk of purchasing hotel products and services is more intense under the COVID-19 pandemic than during normal conditions
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