Exploring the Precursors of Value Co-Destruction in the Hotel Industry
The presented literature review has the objective of exploring the theoretical aspects related to the concept of value destruction, particularly within the context of the hotel industry in Portugal. Value co-destruction can manifest due to various factors and circumstances in this industry, such as economic downturns, political instability, and shifts in consumer preferences.
To mitigate the erosion of value in the hotel industry, proprietors and managers must remain vigilant regarding market trends, invest in maintenance, deliver high-quality services, employ effective marketing strategies, and adapt to changes in consumer preferences and the evolving business landscape.
The term “value destruction” is a relatively recent addition to academic literature, referring to the process by which service systems interact, ultimately resulting in a reduction in the well-being of at least one of the involved systems, whether on an individual or organizational level, taking into account the nature of the service system.
The concept of value co-creation has gained substantial recognition in scholarly discussions, notably through the works of authors like Zikmund et al. (2013), Meyer & Schwager (2015), Rajnish et al. (2017), and Mxunyelwa e Henama (2019), among others. These scholars emphasize the growing importance of a shift in the role of customers, who are now more informed in their decision-making processes. The emergence of the new dominant logic of services (LSD) underscores a change in perspective, highlighting that value creation for customers is now focused not only on production but primarily on fostering and nurturing customer relationships.
Utilizing a quantitative research approach to examine attitudes, intentions, and behaviors, data was gathered via a questionnaire (following the methods outlined by Burns & Bush, 2006, and Günther, 2006). The sample employed for this study consisted only of portuguese participants.
Keywords: Co destruction, relations, hospitality, services.
