Browsing by Author "Kapiki, Soultana"

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    Assessment of the Lodging Industry Profitability Performance: Invest in Independent or Chain Ownership?
    Kapiki, Soultana; Mu, Lei; Fu, Jing (Turizam, 2014-03)
    The purpose of this article is to evaluate the economic results of the independent hotels in comparison with the chain hotels as well as to propose suggestions for the viability of the lodging industry. The survey took place in Greece concerning the period 2008-2011 and it was conducted via on-line questionnaires among 165 hotel units. The average means of efficiency and profitability indicators of the sampled hotels are benchmarked and the data of 2009 are utilized to further compare their ratios by using ratio analysis. Furthermore, ANOVA test is used to conduct mean difference analysis in order to identify the differences among the means along with their associated variables between independent and chain hotels. The main findings of the survey show that, generally, the independent hotels tend to be more profitable than chain hotels. The sector’s good practices that have been identified through this study are highlighted as suggestions for the viability of the lodging industry both in Greece and worldwide. Based on the findings of the survey, investors and hotel operators may have a clearer picture of whether it is preferable to invest their funds in the development of an independent hotel or they should turn to chain ownership.
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    Factors Enhancing Economic Performance In Hospitality. The Paradigm Of Greek Hotel Companies
    Kapiki, Soultana (Journal of Tourism, Hospitality & Culinary Arts, 2012)
    Hotel managers focus on identifying, creating or developing competitive advantages that can be utilised in order to improve the company’s economic performance and bottom line. This paper attempts to identify those internal factors having enhanced the financial performance in the Greek hospitality sector during 20082010. The survey was conducted in Greek high-class hotel companies and reveals that the enhancement of a hotel’s economic performance can be achieved by the following key factors: exceptional services; well-trained and highly motivated associates; contemporary managerial approaches; pricing tactics maximising the revenue per room; investments in new technology systems; organization of activities keeping the guests (and the revenues) within the premises; application of sustainable practices; niche marketing and advertising so as to attract new guests; and, formal cooperation with other tourism stakeholders. The findings of this study are suggested as best practices for the hospitality industry.