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This study examines the influence of tourism micro, small, and medium-sized enterprises’ (SMEs) business characteristics and liquidity and their managers’ demographic characteristics and expectations for assistance regarding crisis management practices (CMP) during the COVID-19 pandemic. The survey was conducted in the Republic of Slovenia, where the majority of businesses are classified as SMEs. This study focuses on tourist agencies, lodging, and food and beverage facilities. Overall, 572 valid online questionnaires have been obtained from SME managers. The research model included five research constructs: CMPs, SMEs business characteristics, liquidity, managers’ demographic characteristics, and their expectations for assistance. Results show that managers primarily rely on labour CMPs; liquidity, assistance from stakeholders, and governmental aid in dealing with the crisis. Results also indicate that SMEs’ business characteristics, managers’ demographic characteristics, and liquidity do not influence CMPs. The amount of provided governmental aid positively influences managers’ expectations for assistance from other stakeholders of the business ecosystem, while the amount of SMEs’ liquid assets negatively influences managers’ expectations for governmental aid. The use of selected indicators enables an internationally comparable benchmarking process and facilitates the improvement of crisis management in tourism SMEs. The conclusion provides recommendations and useful information for researchers, policymakers, and managers.