Purpose

The Indian hospitality and tourism industries, major economic growth drivers and employment generators, have been greatly affected by the outbreak of the COVID-19 pandemic. In FY 2020, the Indian tourism sector created 39 million jobs and contributed nearly US$194.3bn, or 6.8%, to India’s gross domestic product. The purpose of this study is to focus on ranking 22 listed hotels and 9 listed travel agencies in India based on their performance across 14 selected financial parameters in both the pre-COVID-19 year ending in March 2019 and the post-COVID-19 year ending in March 2021 to understand how the pandemic affected their businesses.

Design/methodology/approach

This research proposes to analyze the impact of the COVID-19 pandemic on the financial performance of 22 listed Indian hotels and 9 listed travel agencies evaluated over 14 financial parameters using a pipeline of two recently developed multicriteria decision-making techniques, method based on the removal effects of criteria (MEREC) and grey-based combined compromised solution (CoCoSo). First, the criteria weights are objectively determined using MEREC, and then the financial performances of the selected companies in both the hospitality and tourism industries are separately assessed using CoCoSo to get their overall performance score, based on which the companies are ranked in order of preference.

Findings

It was observed that Westlife Development, Lemon Tree Hotels, Indian Tourism Development Corporation, Royal Orchid and Country Club performed significantly poorer than their peers in the aftermath of the pandemic, whereas EIH, Advani Hotels and Resorts and TGB Banquets performed relatively better. Travel agencies Easy Trip and International Travel House performed particularly poorly because of the pandemic, but VMV Holidays performed relatively better in FY 2021.

Practical implications

The findings of the analysis will aid portfolio construction, corporate investment decisions, competition research, government policymaking and industrial analysis.

Originality/value

The proposed model is novel because it fills the research gap in the application of the integrated MEREC–CoCoSo method to study the impact of COVID-19 on the hospitality and tourism sectors in India.

中文翻译：

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分析 COVID-19 对酒店和旅游业财务业绩的影响：印度背景下的整体 MCDM 方法

目的

作为主要经济增长动力和就业创造者的印度酒店业和旅游业受到了 COVID-19 大流行爆发的极大影响。2020财年，印度旅游业创造了3900万个就业岗位，为印度国内生产总值贡献了近1943亿美元，即6.8%。本研究的目的是根据截至 2019 年 3 月的 COVID-19 前年度和 COVID-19 后年度在 14 个选定财务参数中的表现，重点对印度 22 家上市酒店和 9 家上市旅行社进行排名于 2021 年 3 月结束，以了解大流行如何影响他们的业务。

设计/方法/方法

本研究建议分析 COVID-19 大流行对 22 家印度上市酒店和 9 家上市旅行社的财务业绩的影响，使用两种最近开发的多标准决策技术的管道评估超过 14 个财务参数，方法基于去除标准（MEREC）和基于灰色的组合妥协解决方案（CoCoSo）的影响。首先，使用 MEREC 客观确定标准权重，然后使用 CoCoSo 分别评估选定的酒店和旅游行业的公司的财务业绩，得到他们的整体业绩得分，根据这些公司按优先顺序排列.

发现

据观察，Westlife Development、Lemon Tree Hotels、Indian Tourism Development Corporation、Royal Orchid 和 Country Club 在大流行之后的表现明显低于同行，而 EIH、Advani Hotels and Resorts 和 TGB Banquets 的表现相对较好。由于大流行，旅行社 Easy Trip 和 International Travel House 的表现特别差，但 VMV Holidays 在 2021 财年的表现相对较好。

实际影响

分析结果将有助于投资组合构建、企业投资决策、竞争研究、政府决策和行业分析。

原创性/价值

所提出的模型是新颖的，因为它填补了应用 MEREC-CoCoSo 综合方法研究 COVID-19 对印度酒店和旅游业影响的研究空白。