Opportunities and Challenges of ICT-Based Marketing in the Accomodation Sector

Digitalization has forced the accommodation sector to use information and communication technology (ICT) to excel in their business performance. Hence, it is of paramount importance to scan the pros and cons associated with use of ICT marketing in the accommodation sector. This chapter considers this fact and focuses on opportunities and challenges associated with the use of ICT-based marketing in the accommodation sector of Gurugram (Haryana) region of India. The phenomena of ICT marketing is exhaustively assessed and highlighted through different components such as introduction, ICT as emerging concept, application of ICT tools in the marketing accommodation sector, opportunities associated with using ICT-based marketing, challenges faced during applying ICT marketing in the accommodation sector, followed by a conclusion. This study has been considered as a modification and addition to the existing body of knowledge in the accommodation sector. Moreover, the tourism and accommodation marketers also apprehend practical implications to augment their services for survival in a competitive business environment.

Value Co-creation in Non-profit Accommodation Platforms

Value co-creation, in the sharing accommodation sector, has been extensively analyzed but mainly with Airbnb as a reference and focusing mostly on guests’ perceptions. The aim of this study is to analyze the value co-created for users (guests and hosts) in the non-profit sharing accommodation platforms Couchsurfing and HomeExchange. This study also aims to analyze whether the co-created value of these platforms differs from that of for-profit platforms, along with how the outcomes, resources, and practices of the value co-creation process can help create wellbeing for individuals involved in the accommodation experience. Given that most of the existing literature on value co-creation in sharing accommodation platforms is based on Airbnb and guest perspectives, this study is a pioneer in analyzing how guests and hosts co-create value in the context of non-profit accommodation platforms using online travel reviews (OTRs) from non-profit platforms, and how the co-created value contributes to the wellbeing of the individuals involved. Results show that a set of tangible and intangible resources, such as the home and its amenities, helps users on non-profit platforms co-create value and that interaction and social practices between guests and hosts help co-create value for both groups. This implies that non-profit accommodation platforms may contribute more to the social dimensions of wellbeing of their users than for-profit platforms such as Airbnb where the host is typically absent from the experience. In addition, this study demonstrates that the co-created value in non-profit platforms depends on the modus operandi of each platform. On Couchsurfing, guests and hosts co-create more value from their social practices, and on HomeExchange, value co-creation depends more on tangible and intangible resources.

Altman Z-Score Sebagai Pengukur Potensi Kebangkrutan PT. MNC Land Sebelum Dan Selama Pandemi Covid-19

MNC Land, as one of the companies engaged in the hotel accommodation sector, has also experienced a negative impact due to the pandemic. The income statement shows a decrease in the revenue account of PT. MNC Land. If the COVID-19 pandemic lasts for a long time, it will have the potential to cause bankruptcy. Assessment of the potential bankruptcy prediction of the company can be measured through the Altman Z-Score analysis model. This study aims to assess the potential for bankruptcy of PT. MNC Land before and during the COVID-19 pandemic when measured by the Altman Z-Score model. The calculation results show that before COVID-19 spread to Indonesia (2017 – 2019) and during the pandemic (2020), PT. MNC Land Tbk is in a safe discriminant zone. The company is still in a healthy state and does not have financial problems or has no potential for bankruptcy.

Earnings Management in Hospitality Firms

This study examines whether Portuguese hotel sector firms engage in earnings management (EM) practices to provide specific accounting results and test the main determinants in explaining EM. We use the SABI database to collect panel data regarding 1615 Portuguese SME hotels from 2006–2013. In order to obtain results, a graphical representation of the distribution of the net income and the estimation of the discretionary accruals were used, from which two estimation models were formulated. The results obtained provide empirical evidence that firms in the Portuguese hotel sector seem to engage in earnings management practices and that the main determinants behind them appear to be debt level, return on assets, and firm size. The adoption of earnings management practices by firms is a widespread phenomenon across various sectors and nations. Yet, despite the general awareness regarding the importance of the tourism sector for communities at a financial, social, and cultural level, the lack of empirical studies with application to the accommodation sector makes it pertinent to investigate this phenomenon.

A Scenario Planning of the Sharing Economy in Bali Accommodation 2030

<p>Defined as the economic system that allows ordinary people to share their underused/underutilized residences as tourist accommodation, the sharing economy in the accommodation sector may emerge into one of the most important trends to change the overall landscape of tourism. Given that the sharing economy is still in its infancy in a world full of contingencies, the future of the sharing economy in accommodation remains uncertain, and Bali, Indonesia provides no exception. In response, this study aims to take a ‘sneak peek into the future’ exploring the potential evolution of the sharing economy in Bali’s accommodation through a comprehensive future study. Utilizing Delphi-based scenario planning, a group of participating experts have been interviewed and their answers to multiple questionnaires analyzed. Through the two most important drivers to be identified, infrastructure development and ubiquitous Internet, a four-quadrant scenario matrix has been developed. Each of the scenarios is presented in a storyline by integrating the drivers of change, future thinking, and creative imagination to portray four alternative illustrations of the sharing economy in Bali’s accommodation sector in 2030. The "from local to global" scenario emphasizes the vision of Bali’s modernization whereby smart houses and a local sharing economy in accommodation are pervasive, and incumbent hotels decide to compete with such new rivals. The "joint first prize" scenario portrays the partnership between hotels and traditional villages, sophisticated features of the sharing economy in accommodation platforms, and the use of an integrative rating system to classify the shared houses. The "volte-face" scenario highlights a gloomy situation with no existence of a sharing economy in accommodation. Lastly, the "what’s yours is mine" scenario envisages exclusive purpose-built second homes clustered in an area only accessible for high- income bracket visitors. Through an examination of strategic implications, the study explores potential risk and the consequences of each scenario coupled with key strategies to guide the relevant stakeholders with a range of possible approaches for resolution. This study offers piece of document that contributes to the overall academic literature as this study expands the outcome of available researches focused in this topic, and also overlooks potential policy instruments to be undertaken by key stakeholders.</p>

A Scenario Planning of the Sharing Economy in Bali Accommodation 2030

<p>Defined as the economic system that allows ordinary people to share their underused/underutilized residences as tourist accommodation, the sharing economy in the accommodation sector may emerge into one of the most important trends to change the overall landscape of tourism. Given that the sharing economy is still in its infancy in a world full of contingencies, the future of the sharing economy in accommodation remains uncertain, and Bali, Indonesia provides no exception. In response, this study aims to take a ‘sneak peek into the future’ exploring the potential evolution of the sharing economy in Bali’s accommodation through a comprehensive future study. Utilizing Delphi-based scenario planning, a group of participating experts have been interviewed and their answers to multiple questionnaires analyzed. Through the two most important drivers to be identified, infrastructure development and ubiquitous Internet, a four-quadrant scenario matrix has been developed. Each of the scenarios is presented in a storyline by integrating the drivers of change, future thinking, and creative imagination to portray four alternative illustrations of the sharing economy in Bali’s accommodation sector in 2030. The "from local to global" scenario emphasizes the vision of Bali’s modernization whereby smart houses and a local sharing economy in accommodation are pervasive, and incumbent hotels decide to compete with such new rivals. The "joint first prize" scenario portrays the partnership between hotels and traditional villages, sophisticated features of the sharing economy in accommodation platforms, and the use of an integrative rating system to classify the shared houses. The "volte-face" scenario highlights a gloomy situation with no existence of a sharing economy in accommodation. Lastly, the "what’s yours is mine" scenario envisages exclusive purpose-built second homes clustered in an area only accessible for high- income bracket visitors. Through an examination of strategic implications, the study explores potential risk and the consequences of each scenario coupled with key strategies to guide the relevant stakeholders with a range of possible approaches for resolution. This study offers piece of document that contributes to the overall academic literature as this study expands the outcome of available researches focused in this topic, and also overlooks potential policy instruments to be undertaken by key stakeholders.</p>

All grown up? Market maturity and investment in London's purpose-built student accommodation sector

PurposeThe UK's purpose-built student accommodation (PBSA) sector has seen significant institutional investment in recent decades. This paper unpacks contemporary trends and perspectives on the sector. It questions whether PBSA has moved from being an “alternative” to “mainstream” residential asset class, framing the analysis through the lens of market maturity.Design/methodology/approachThe methods triangulate perspectives drawn from literature on the evolution of PBSA as an asset class with illustrations of investment trends across the UK between 2005 and 2020 using data from Real Capital Analytics (RCA), combined with findings from 40 semi-structured interviews with investors and stakeholders in PBSA in the UK London is the focus of the work, whilst other regional cities are integrated for comparison.FindingsThe results demonstrate that London's PBSA market is ahead of trends currently being replicated in regional cities. However, the regions currently offer greater return potential and opportunities for risk taking compared to London, where yields are compressed, and the market is considered lower risk. The concept of maturity remains useful as a framework for evaluating markets, however a more granular analysis of sectors is necessary to further understand asset classes within sectors. PBSA continues to trade at a premium across the UK; it is considered the most mature residential asset class.Practical implicationsThe emergence of PBSA as an asset class continues to play a developing role within the residential sector and UK investment market. Risk, value and local context remain key when integrating PBSA into institutional portfolios, and as the first to consider the UK market from a qualitative research approach, this research provides a snapshot of these influences in 2021.Originality/valueOur approach offers original insight into investment trends across the UK and is the first to focus reflections on the London market specifically. The research highlights the role of PBSA as a vanguard asset class for investors into residential, situating its growth within the framework of market maturity and drawing out market nuances from interviews.

The COVID-19 Pandemic and Its Impacts on Tourism Business in a Developing City: Insight from Vietnam

The COVID-19 pandemic has generally destroyed the global tourism industry and threatened the recovery of destinations in developing countries facing more challenges from increasingly serious waves of the pandemic. Although many studies have attempted to measure the general impacts of COVID-19, very little research has been conducted to assess its overall impact on specific tourism destinations throughout many waves of the pandemic. This research aims to explore how a tourism economy in a developing country context has been damaged after many waves of COVID-19. A typical emerging city in Vietnam experiencing three waves of the COVID-19 pandemic was selected as a case study. The study recruited 40 representatives of tourism-related organizations for in-depth interviews, while 280 questionnaires were distributed to participants from different tourism organizations. The findings indicate that the majority of tourism businesses in the examined case study seriously suffered from the pandemic, and very few tourism-related enterprises were able to recover after the first wave of infection. Unfortunately, the tourism business sectors were found to be on the brink of bankruptcy or facing permanent shutdown after the third wave. All tourism enterprises generally appeared to experience a sharp drop in the number of customers, tourism revenue, service facilities and exploitation, as well as employee downsizing, but the degree of downturn differed among the examined enterprises. Among the tourism enterprises, travel agencies and the accommodation sector were found to suffer the greatest economic losses compared to other stakeholders. In general, the COVID-19 pandemic’s impact on the tourism business in Vietnam is a big concern, which may require a timely economic policy response and financial scheme to better support local enterprises in coping with the challenges during post-pandemic recovery.

ECONOMIC EFFICIENCY OF THE ACTIVITY OF TOURIST SERVICE SPHERE ENTERPRISES

The main purpose of the article is a comprehensive study of issues related to the analysis of the main components and the development of measures to ensure the economic efficiency of enterprises in the field of tourist services in modern conditions. Systematization of literature sources and approaches to solving the problem showed that the service of tourists during the trip involves various companies and organizations in the field of service. The object of the study are selected enterprises in the field of tourist services. The study period is 2015-2019. The study of the economic efficiency of service enterprises showed that in recent years there has been an increase in the number of tourists who were served by tour operators and travel agents in Ukraine 2.6 times, of which inbound tourists ‒ 5.5 times, outbound tourists ‒ 2.9 , and domestic tourists ‒ 1.3 times. The cost of sold tourist vouchers also increased (3.5 times). The study empirically confirms and theoretically proves that the main executor that ensures the implementation of the stages of accommodation and service in the hotel guest cycle, is the accommodation sector. Its representatives are also involved in the organization of leisure tourists. The number of persons in collective accommodation facilities increased 1.2 times in 2015-2019. Meeting the needs and demand for tourism implies the need to provide a large number of tourist services. Significant growth in terms of all costs incurred by tourism entities for the services of third-party organizations used in the production of tourism products. In the structure of the studied costs, the largest share is occupied by accommodation and accommodation costs ‒ 25.7%, transport services ‒ 26.9%. Thus, the analysis of economic efficiency of enterprises in the field of tourist services is of practical importance. According to its results, you can not only assess the efficiency of the enterprise, analyze the total effect of its structural units and activities, but also identify promising areas of development of the industry and the results of the resourses use. The analysis indicates a gradual increase in most of the studied indicators that characterize the work of enterprises in the field of tourist services. In the future, to successfully overcome the crisis, it is necessary to develop integration forms of enterprises in the hospitality industry and tourist services

Zooming into Airbnb listings of European cities: Further investigation of the sector’s competitiveness

Airbnb has a major role to play in the competitiveness of the overall accommodation sector of individual destinations and it is rather unlikely that this role will diminish in the post-COVID-19 recovery of the tourism industry. Therefore, the present study motivates the Airbnb sector to look back at its past performance for insights that can be used in setting post-pandemic targets. In particular, this research assesses competitiveness of the Airbnb listings of 28 European cities by including hotel-related data as uncontrollable input variables within interactive data envelopment analysis modeling. The contribution lies in joining Airbnb listings and hotels into the benchmarking discussion and efficiency analysis, along with looking beyond the cumulative number of listings by dissecting the overall sector into commercial and private listings—something that has not been attempted as of yet, in spite of the ever-growing body of literature on the sharing economy.