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Title: Innovative Business Models In The Hospitality Industry: Exploring How New Business Models Have Disrupted Traditional Business Hospitality Prototypes
Authors: Aayaan Manchanda
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Aayaan Manchanda Lotus Valley International School, Noida
MLA 8 Manchanda, Aayaan. "Innovative Business Models In The Hospitality Industry: Exploring How New Business Models Have Disrupted Traditional Business Hospitality Prototypes." Int. j. of Social Science and Economic Research, vol. 10, no. 3, Mar. 2025, pp. 1056-1082, doi.org/10.46609/IJSSER.2025.v10i03.016. Accessed Mar. 2025. APA 6 Manchanda, A. (2025, March). Innovative Business Models In The Hospitality Industry: Exploring How New Business Models Have Disrupted Traditional Business Hospitality Prototypes. Int. j. of Social Science and Economic Research, 10(3), 1056-1082. Retrieved from https://doi.org/10.46609/IJSSER.2025.v10i03.016 Chicago Manchanda, Aayaan. "Innovative Business Models In The Hospitality Industry: Exploring How New Business Models Have Disrupted Traditional Business Hospitality Prototypes." Int. j. of Social Science and Economic Research 10, no. 3 (March 2025), 1056-1082. Accessed March, 2025. https://doi.org/10.46609/IJSSER.2025.v10i03.016.
References [1] . Hospitality and tourism success stories: Innovative Business Models in the Hospitality Industry: Case Studies of Success -FasterCapital. https://fastercapital.com/content/Hospitality-and-tourism-success-stories--Innovative-Business-Models-in-the-Hospitality-Industry--Case-Studies-of-Success.html [2] . Imran, & Imran. (2024, February 20). What new business models are emerging in the hospitality industry? Digital Ordering Platform, Techryde. https://www.techryde.com/what-new-business-models-are-emerging- in-the-hospitality-industry [3] . Kabangire, J., & Korir, J. (2023). Innovation and creativity in hospitality management. Journal of Hospitality and Tourism, 3(3), 20–41. https://doi.org/10.47672/jht.1666 [4] . Mihaela Diaconu & Amalia Dutu, (2017). "Business Model In The Hospitality Industry, From Traditional To Open Innovation," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 16(1), pages 3-10. https://ideas.repec.org/a/pts/journl/y2017i1p3-10.html [5] . rob.llewellyn@cxotransform.com. (2023, April 18). Hospitality business model transformation in 10 companies. Digital Transformation Skills. https://digitaltransformationskills.com/hospitality-business- model-transformation/ [6] . Tufft, C., Constantin, M., Pacca, M., Mann, R., Gladstone, I., Vries, J. D., & McKinsey & Company. (2024). The state of tourism and hospitality 2024. McKinsey & Company. https://www.mckinsey.com/~/media/mckinsey/industries/travel%20logistics%20and%20infrastructure/our% 20insights/the%20state%20of%20tourism%20and%20hospitality%202024/the-state-of-tourism-and- hospitality-2024-final.pdf?shouldIndex=false
ABSTRACT: The hospitality industry is perpetually disrupting its conventional models due to the following reasons - evolving guest preferences, maturing digital technology, altering source markets and transforming destinations, rising demand for experiential and luxury travel, growing sustainability practices, mergers and acquisitions, and ingenious business techniques; all incorporating to tremendously transform the hospitality industry terrain. Given this consequential transition in the hospitality sector, it’s crucial for stakeholders to assess and strategize on primary evolving themes. This research paper highlights the significance for transformations in the hospitality business trends and strategies, and the obstacles they encounter during this process. Furthermore, it discusses the evolving business models in the hospitality industry and examines the trends in business prototypes for global leading hotel chains. The white paper finally concludes with suggestions for the way forward to achieve success in the dynamic hotel industry.

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