“…To this end, management rationalises operations, introduces a business model of lean management, reduces overhead costs and optimises costs related to external suppliers (Crepi et al, 2021); (ii) diversification of income streams during crises can mitigate risk and reduce dependence on a single source (alternative options for monetising assets, introduce new services/products, and change supply chain management (new suppliers, shorter delivery routes, new markets for finding guests, etc.) (Alkier, Milojica & Roblek, 2023;Strange, 2020); (iii) crisis communication with stakeholders, because maintaining good relations with stakeholders is considered to be of key importance in times of crisis (Ritchie, 2004); (iv) Digital transformation, because crises and the Covid-19 crisis were no exception, sped up the introduction of digital solutions in hotel operations (Sharma, Thomas & Paul, 2021); (v) cooperation (formation of consortia and acquisitions as a form of ownership takeover) enables hotels (specially hotel chains) and other tourism firms to acquire the human resources they lack, gain new professional skills, access new segments of guests and suppliers, and new innovative solutions (Konovalova et al, 2020); (vi) focusing on the main services that guests demand the most or to satisfy critical needs. For this purpose, the management has the opportunity to transform the offer, change existing resources or introduce solutions that are intended to specifically address the emerging demands of guests during the crisis (the need for sustainable and green solutions) (Mzembe et al, 2021); (vii) use of government support measures -for business liquidity and keeping the current level of headcount which almost all hotel companies used (González-Torres et al, 2021); (viii) scenario planning and risk management because crisis business models include robust scenario planning and risk management (Sax & Andersen, 2019); (ix) sustainable practices and social responsibility because the time of crisis raises the awareness and importance of sustainable business models and social responsibility.…”