The Impact of Macroeconomic Factors on the Hotel Industry Through the Financial Leverage Trends

2021 ◽  
pp. 94-111
Author(s):  
Luís Lima Santos ◽  
Conceição Gomes ◽  
Inês Lisboa
Keyword(s):  
Hotel Industry ◽  
Leverage Effect ◽  
Financial Leverage ◽  
Historical Trends ◽  
Current Case ◽  
Macroeconomic Factors ◽  
Hospitality Sector ◽  
New Challenges ◽  
Hotel Managers ◽  
The Impact

In Portugal, news shows that the impact of COVID-19 in the hospitality sector was more noticeable compared to other sectors. This chapter aims to understand the historical trends of hotel industry financial leverage and to analyse the impact of macroeconomic factors on it. Based on the Portuguese reality, it aims to propose a model to be used by managers and shareholders to control the effect of financial leverage over their companies. Two issues are supporting this study: one is if companies evaluate the impact of the chosen financing sources on shareholders' return; another is to understand whether there is a change in the financial leverage effect, either due to macroeconomic factors or due to cyclical factors not controlled by the market, such as the current pandemic (COVID-19) which demands new challenges to companies. Results highlight that the perception of financial leverage by hotel managers is crucial in crisis situations, as the current case of the pandemic caused by COVID-19.

scholarly journals Knowledge Management in the Hotel Industry Before and After the Entry in the EU: The Case of Slovenia

Organizacija ◽  
2010 ◽  
Vol 43 (4) ◽  
pp. 197-201 ◽  
Author(s):  
Helena Rudež
Keyword(s):  
Knowledge Management ◽  
Hotel Industry ◽  
The Other ◽  
Measurement Development ◽  
Knowledge Development ◽  
Actual Knowledge ◽  
Before And After ◽  
Hotel Managers ◽  
The Impact ◽  
The Eu

Knowledge Management in the Hotel Industry Before and After the Entry in the EU: The Case of SloveniaThe paper deals with the impact of the EU entry on knowledge management in the hotel industry in Slovenia. For this purpose, the empirical research on knowledge management was carried out among hotel managers. It explored the changes in knowledge management between 2003 and 2006; that is before and after Slovenia entered the EU. The research revealed a progress in this period of time in knowledge management goals definition, transformation of not-owned into owned knowledge, inclusion of knowledge management in business reports, identification and elimination of the gaps between planned and actual knowledge. On the other hand, there was no further progress in the field of strategies and policy of knowledge management, perception of the importance of knowledge management's measurement, development of measures of knowledge management and diminishment of barriers to knowledge development. Further, several recommendations are suggested for hotel managers.

scholarly journals Effect of Hotel Air Quality Management on Guests’ Cognitive and Affective Images and Revisit Intentions

2021 ◽  
Vol 18 (17) ◽  
pp. 9346
Author(s):  
Junghyun Park ◽  
Jae Leame Yoo ◽  
Jongsik Yu
Keyword(s):  
New York ◽  
Air Quality ◽  
Quality Management ◽  
Hotel Industry ◽  
Air Quality Management ◽  
Pollution Levels ◽  
Revisit Intentions ◽  
Hotel Managers ◽  
The Impact ◽  
The Empirical Analysis

Although city air pollution levels significantly affect the hotel industry, few studies have addressed the impact of air quality management on guests’ cognitive and affective image formation and revisit intentions. Therefore, this research examined the effects of hotel air quality management on the formation of guests’ cognitive and affective images and their revisit intentions. A total of 322 valid samples were obtained by surveying hotel guests who had perceived hotel air quality management activities in the past year, with SPSS 22.0 (IBM, New York, NY, USA) and AMOS 22.0 (IBM, New York, NY, USA) employed for the empirical analysis. The cognitive and affective image constructs revealed that cognitive (perceived value and perceived quality) image influenced revisit intentions but affective image did not. These results provide insights into the need for hotel managers to develop positive cognitive and emotional images through good air quality management and the need to induce customers to revisit based on these images.

Macroeconomic Sensitivity, Risk-Return Trade-Off and Volatility Dynamics Evidence From Developed and Developing Markets

2019 ◽  
Vol 6 (1) ◽  
pp. 1-16
Author(s):  
Faisal Khan ◽  
Hashim Khan ◽  
Saif Ur-Rehman Khan ◽  
Muhammad Jumaa ◽  
Sharif Ullah Jan
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Three Dimensions ◽  
Leverage Effect ◽  
Return Volatility ◽  
Macroeconomic Factors ◽  
Stock Return Volatility ◽  
Risk Return ◽  
The Impact

This study aims to examine the impact of macroeconomic factors on the stock return volatility along with the pricing of risk, and asymmetry and leverage effect on a comparative basis for the USA and UAE markets. Further, these three dimensions are also investigated with regard to various firm's features (such as firm's size and age). The daily data for the period 4th January 2010 to 29th December 2017 of firm stock returns from the New York Stock Exchange (NYSE), the Abu Dhabi Securities Exchange (ADSE), and the Dubai Financial Market (DFM) is considered and three time-series models were applied. The results from GARCH (1. 1) indicated that all the economic factors have significant impact on the stock return volatility in both the markets. Similarly, the study also found evidence of asymmetry & leverage effect using EGARCH in the NYSE (for all firms) and the UAE (partially). Finally, for a majority of the firms, a positive risk-return relationship is found in the UAE and a negative risk-return relationship is found in the NYSE using GARCH-in the mean. Interestingly, these results in context of both markets were different with respect to various firm features such as firm size and age. In light of these results, it is concluded that both the markets have different dynamics with regard to all three dimensions. Hence, the investors have a clear opportunity to diversify their risk and investments across developed and emerging markets.

Customer Orientation, Learning Orientation, and New Service Development

2011 ◽  
Vol 35 (4) ◽  
pp. 437-468 ◽  
Author(s):  
Kayhan Tajeddini
Keyword(s):  
Customer Orientation ◽  
Hotel Industry ◽  
Service Development ◽  
Learning Orientation ◽  
New Service Development ◽  
Subsequent Effect ◽  
Using Data ◽  
Hotel Managers ◽  
The Impact

Although many studies have investigated the role of customer orientation and learning orientation on a firm’s performance in small, medium, and large enterprises, the literature provides little empirical evidence about the role of customer orientation and learning orientation within the hotel industry. This current work investigates the influence of these variables on new service development and their subsequent effect on performance (financial and perceptual). Also, the impact of participating managers’ positive attitude toward change on new service development has been examined. Using data from hotel managers and owners located in Switzerland, several hypotheses have been formulated and tested. The findings not only verify aspects of prior research but also provide a new insight by exploring customer orientation, learning orientation, and new service development simultaneously, revealing how these factors affect the performance of the Swiss hotel industry. Although support for some hypotheses was found, these results need to be evaluated in light of the limitations, which moderate the contribution and also provide areas for further research.

scholarly journals How do hotels in developing countries manage the impact of COVID-19? The case of Lebanese hotels

2021 ◽  
Vol 33 (3) ◽  
pp. 929-948
Author(s):  
Laurent Yacoub ◽  
Samer ElHajjar
Keyword(s):  
Hospitality Industry ◽  
Hotel Industry ◽  
Content Type ◽  
Global Pandemic ◽  
Management Measures ◽  
Main Challenge ◽  
The Future ◽  
Hotel Managers ◽  
The Impact ◽  
The City

Purpose Many researchers have attempted to outline the effects of the coronavirus (COVID-19) pandemic on the growth of economies across the world. Few researchers consider addressing the COVID-19 pandemic as a crisis that needs effective crisis management measures. In particular, there is a gap in research that maps a way forward that managers can use as a guide to recover and revive the hospitality industry after the pandemic. This paper aims to fill this gap. Design/methodology/approach Data were collected through interviews with 26 hoteliers managing 4- and 5-star hotels in the city of Beirut. Data were analyzed using thematic analysis. Findings Findings show that the level of preparedness toward dealing with such a pandemic had been low. Hotels have been focused on ensuring transparency with the employees, providing adequate information and decentralizing power to the departmental levels to deal with the impacts of COVID-19. Operationally, hotel managers are shifting focus toward more safety-conscious operations across all departments; emphasizing the importance of local tourists rather than complete dependence on foreigners as a source of revenue; increasing flexibility in bookings and cancellations to incentivize customers. Shifts are expected to be made, making operations in hotels more technologically-aligned and focused. Research limitations/implications The aim of this study is to address the managerial reactions of the hotel industry during the COVID-19 pandemic crisis and the potential strategic approaches that hotels might adopt in the future. A focus on the Lebanese context can provide scholars with a new model and inform managers on how to approach a crisis of such nature and magnitude, especially in a country that is facing its worst political and economic crisis. The main challenge of this paper is that it examines the hotel industry only in the Lebanese context. The development of the hospitality sector cannot be studied outside the institutional context in which it operates. Originality/value This paper fulfills an identified need to study to which extent hotel managers were prepared to deal with a crisis the size of a global pandemic, what shifts in strategies were implemented and what is the future of the hospitality industry?

Revenue Management in Portugal

2020 ◽  
pp. 97-121
Author(s):  
Marine Ferreira ◽  
Teresa Dieguez
Keyword(s):  
Revenue Management ◽  
Hotel Industry ◽  
Management Tool ◽  
Future Research ◽  
Quantitative Methodology ◽  
Business Growth ◽  
The World ◽  
New Challenges ◽  
Price Management ◽  
Hotel Managers

The world is constantly changing, and the hotel industry is one of the sectors where we can feel it the most. Nowadays, the hotel market is dynamic, diverse, difficult, and dangerous, which creates new challenges for hotel managers, particularly in terms of revenue, creation, and optimization. In order to overcome that, revenue management emerges as a crucial price management tool to face competitiveness and business growth. This study aims to analyze the practices and advantages of revenue management, as well as understand if its implementation in Portugal influenced the revenue and growth of the hotel industry. It also intends to analyze whether there is adequate revenue training or if further training should be required. A quantitative methodology was used, and 284 answers were collected. From those answers, 115 were validated, analyzed, and discussed. Conclusions were made, and finally some limitations were presented as well as suggestion for future research.

Perception of Final Year Hotel Management Students towards Working in Hotel Industry

2015 ◽  
Vol 1 (2) ◽  
Author(s):  
Rajeshree S. Pol ◽  
Hemraj Patil
Keyword(s):  
Work Experience ◽  
Hospitality Industry ◽  
Hotel Industry ◽  
Hotel Management ◽  
Industrial Training ◽  
Negative Work ◽  
Job Opportunities ◽  
Hotel Managers ◽  
Management Students ◽  
The Impact

Although the development of hotel industry can create new job opportunities it is often criticized that the hotel industry provides low skilled and less paid jobs. If todays students are going to be the hotel managers of tomorrow its important to understand their perceptions about hotel jobs. This paper focuses on final year students who have completed their industrial trainings and are ready for placement in hotels. The study finds that the students respondent neither favorable nor unfavorable towards the hotel jobs. The findings also show that there is willingness to work in hotel related jobs or study further about hospitality industry. Though the impact is debatable, a students negative work experience during the industrial training can influence their image of hotel industry.

scholarly journals DEVELOPMENT OF INNOVATIVE PROCESSES IN THE HOTEL BUSINESS

2021 ◽  
Vol 2 (25) ◽  
pp. 60-62
Author(s):  
T.V. Bedyaeva ◽  
◽  
V.E. Sandrina ◽  
A.A. Zelenskaya ◽  
◽  
...  
Keyword(s):  
Hotel Industry ◽  
Innovation Strategy ◽  
Integral Component ◽  
Hospitality Sector ◽  
Tourism Services ◽  
The Impact

The article presents the features of innovation in the hotel industry as an integral component of the development of tourism services, maintaining competitiveness in the hospitality sector, as well as the impact of innovation as a factor in building the potential of the hotel industry and entering a new market. The specificity and problems of the innovation strategy of the hotel enterprise are considered.

THE IMPACT OF LEADERSHIP PRACTICES TO TEAM MEMBERS’ SATISFACTION

2009 ◽  
Vol 8 (1) ◽  
Author(s):  
Chalimah .
Keyword(s):  
Conflict Resolution ◽  
Leadership Practices ◽  
Hotel Industry ◽  
Leader Behavior ◽  
Team Leader ◽  
Shop Floor ◽  
Team Members ◽  
Top Executives ◽  
Wide Range ◽  
The Impact

eamwork is becoming increasingly important to wide range of operations. It applies to all levels of the company. It is just as important for top executives as it is to middle management, supervisors and shop floor workers. Poor teamwork at any level or between levels can seriously damage organizational effectiveness. The focus of this paper was therefore to examine whether leadership practices consist of team leader behavior, conflict resolution style and openness in communication significantly influenced the team member’s satisfaction in hotel industry. Result indicates that team leader behavior and the conflict resolution style significantly influenced team member satisfaction. It was surprising that openness in communication did not affect significantly to the team members’ satisfaction.

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