Resilience and Agility in Small, Family-Owned Hotels: Exploring Tourists’ Perceptions at Times of High Inflation

Dionysia Vardakastani (), Leonidas Efthymiou (), Alexander Pakhalov () and Marlen Demetriou ()
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Dionysia Vardakastani: University of Nicosia
Leonidas Efthymiou: University of Nicosia
Alexander Pakhalov: University of Nicosia
Marlen Demetriou: University of Nicosia

Chapter Chapter 4 in Global Challenges and Uncertainty in Tourism and Hospitality, Volume I, 2025, pp 101-132 from Palgrave Macmillan

Abstract: Abstract The current chapter investigates the impact of inflation on tourists’ spending-behavior in small, family-owned hotels and apartments. The study focuses on five key variables, namely ‘value’, ‘quality’, ‘hospitality’, ‘authenticity’, and ‘guest satisfaction/loyalty’. The key variables and the study’s hypotheses emerged out of an in-depth literature review. Then, employing a cross-sectional research design, the study collected data via online questionnaires from guests. Chi-Square correlation and Crosstabulation Analysis were conducted for statistical analysis. The results suggest that participants adjust their travel budgets and behavior in response to inflation through cost-saving strategies. Despite economic challenges, hospitality, and authenticity influence guest satisfaction and loyalty significantly. Small, family-owned accommodations are perceived to maintain personalized, high-quality services, and value, in spite of inflation. The chapter contributes to a developing body of literature in the area of resilience and agility, through a set of implications and practical strategies.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pinchp:978-3-031-92405-7_4

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DOI: 10.1007/978-3-031-92405-7_4

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