Tourism is a major export industry for Thailand. Phuket, one of the most popular tourist destinations in the country, has been negatively influenced in recent years by a number of crises, including the Global Financial Crisis (GFC). This has limited the travel budget not only for domestic tourists but also those from overseas. Hotel businesses have been particularly affected by the GFC. While hotel managers may not be able anticipate a crisis, it is crucial for them to understand the critical success factors contributing to effective crisis recovery in order to ensure their long-term survival.This research identifies critical success factors necessary for effective economic crisis management through qualitative analysis of in-depth interviews with managers of Phuket hotels. The findings of these interviews provide a rich and meaningful understanding of pertinent factors emphasized by managers as important in crisis recovery.