Abstract
Can hoteliers take the possibility of disasters such as COVID-19 into account? We think so. However, it does require a paradigm shift, a different approach to the strategic decision-making process. A shift is required from optimism to paranoid optimism or cautious optimism with the premise that (a) success is always seen as temporary (to avoid optimistic exuberance) and (b) that the finiteness of a hotel business must always be considered (to avoid hubris). That is, the unthinkable and worst scenario must become a part of the strategic plan. In the business plan, hoteliers must invariably simulate a near-death experience for the company. This is referred to as premortem analysis. Yes, hotel organizations are not immortal, and we have to consider the possibility of mortality. Drawing from the prospective hindsight technique, this article celebrates ICHRIE’s past, present, and future by reflecting on why and how hoteliers should prepare for unexpected events.
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