The COVID-19 crisis provides an opportunity for sustainable renewal and requires responsible leaders who are responsive to stakeholder needs and able to innovate in light of new challenges. This study draws on stakeholder theory and responsible leadership theory to examine (a) the challenges industry leaders face as a result of COVID-19 and (b) their innovative responses in light of their responsibilities to stakeholders and society. We conducted a corpus linguistics study based on high-volume media websites reporting tourism and hospitality news on leadership and innovation. We applied a stakeholder and social responsibility lens to the data analysis. We discovered that, despite the challenges that leaders faced, some transcended self-interest or integrated self-interest with consideration for the interest of others and formed partnerships with other stakeholders resulting in win-win solutions. In particular, we found evidence of leaders who (1) responded to the needs of owners, employees, customers, and community stakeholders and (2) developed not only incremental innovations but substantial ones benefitting stakeholders in business and society. We discuss responsible leadership as a pathway for transforming the tourism and hospitality industry towards a more sustainable and community-centred ‘new normal’. Based on our findings, we present recommendations for future research and policymakers.