A Study on the Hotel Economic Trends Using Unstructured Big Data: Focusing on the Comparison of Pre-COVID-19 and COVID-19 Periods
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(Purpose) The Purpose of this study is to perform big data analysis using unstructured data to identify issues related to hotel economic trends. Through this, we would like to propose meaningful implications to continue the stable growth of hotels and secure differentiation of competitive advantages. (Design/methodology/approach) The data collection period and method are as follows. First, the term was set for a total of four years, from Jauary 2018 to December 2019, when the hotel economic trends before COVID-19 could be identified, and from Janauary 2020 to December 2021, when COVID-19 spread, On the other hand, the source of data collection was limited to 10 newspapers of BigKinds, a news big dats analysis system that presents relatively objective facts, excluding cafes and blogs where individual subjective opinions can be entered. (Findings) As a result of the centrality analysis, it was confirmed that before COVID-19, keywords such as MICE and wedding were highlighted for profitability, while keywords such as profitability and business deterioration were the main keywords during the COVID-19 period. The results of this study can suggests the direction of hotel strategy and management by understanding market trends and changes in customer demand for hotel trends. (Research implications or Originality) Implications of this study provide academic and managerial suggestions and limitations of the study and directions for future research are suggested.
Abstract
(Purpose) The Purpose of this study is to perform big data analysis using unstructured data to identify issues related to hotel economic trends. Through this, we would like to propose meaningful implications to continue the stable growth of hotels and secure differentiation of competitive advantages. (Design/methodology/approach) The data collection period and method are as follows. First, the term was set for a total of four years, from Jauary 2018 to December 2019, when the hotel economic trends before COVID-19 could be identified, and from Janauary 2020 to December 2021, when COVID-19 spread, On the other hand, the source of data collection was limited to 10 newspapers of BigKinds, a news big dats analysis system that presents relatively objective facts, excluding cafes and blogs where individual subjective opinions can be entered. (Findings) As a result of the centrality analysis, it was confirmed that before COVID-19, keywords such as MICE and wedding were highlighted for profitability, while keywords such as profitability and business deterioration were the main keywords during the COVID-19 period. The results of this study can suggests the direction of hotel strategy and management by understanding market trends and changes in customer demand for hotel trends. (Research implications or Originality) Implications of this study provide academic and managerial suggestions and limitations of the study and directions for future research are suggested.
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