Academic Articles in Hospitality Sales (Feiertag Collection)

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https://hdl.handle.net/10919/78367

This is a collection of peer-reviewed academic research in the area of Hospitality Sales that may be of interest to hospitality industry managers and executives.

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Now showing 1 - 20 of 99

Accounting Skills Hotel Enterprises Need Today
Kavčič, Slavka; Mihelčič, Eva (Tourism and Hospitality Management, 2006)
The article presents a view of current happenings in the business and economic environment that are significantly influencing the knowledge requirements of modern accountants both worldwide and locally. First, we define the specific skills accountants are required to have apart from an in-depth expert knowledge of accounting. These skills have set the final boundary between accounting and bookkeeping. Later, the perspectives of certified accountants in Great Britain and Slovenia, as well as accountants working for Slovenian hotel enterprises are presented as regards the key factors influencing a change in accountants' tasks. Finally, the skills of modern accountants are presented, along with the underlying education and training system needed for gaining the title of a certified accountant.
Advertising Efficiencies in the Hospitality and Tourism Industry
Bhagwat, Yatin N.; DeBruine, Marinus (hrcak, 2008-12)
Advertising provides growth in sales volume for the new products and services. The hospitality industry relies heavily on advertising through travel journals and travel sections of print media, television media, and the Internet. The hospitality industry encompasses hotels, cruise lines, theme parks and holiday resorts. The focus of this paper is to investigate the long-term relationship between accounting defined changes in earnings and changes in advertising expenditure by estimation of the degree of advertising leverage -- a measure similar to the degree of total leverage.
AirBnB Competition and Hotels’ Response: The Importance of Online Reputation
Aznar, Pedro; Sayeras Maspera, Josep Maria; Segarra, Guillem; Claveria, Jorge (Athens Journal of Tourism, 2018-03)
AirBnB and other similar platforms are changing the market structure of the accommodation industry, threatening the status quo of the traditional hospitality industry. This is a new paradigm in which low cost accommodation options press down prices in an industry with a non-flexible cost structure. This paper analyses the role of quality perceived by customers as a key factor explaining prices differences among hotels. In a context characterized by instant access to past guests’ valuations on the Internet, the role of these valuations is compared with the traditional rating system, which is less flexible through time and based in legal standards that vary across countries. According to our empirical research, quality as assessed by past customers increases a firm’s capacity to set higher prices, working as a signalling mechanism, including the hotels in the same star category. Managers capable of building a reputation of consistent high quality service will show a higher market power.
Analysis of Financial Indicators of Montenegrin Hotel Industry
Stanovčić, Tatjana; Moric, Ilija; Laković, Tanja; Peković, Sanja (Management International Conference, 2015-05)
Taking into consideration the slow increase of incomes and limited investments IN Montenegrin hotel industry, the purpose of this paper is to research the potential sources of efficiency via analysis of financial indicators in hotels in Montenegro. The special focus is given to analysis of the following indicators: operating revenue, revenue per room, room occupancy, investments, room rates, payroll etc. Using available secondary and primary data from hotels, government bodies and relevant international organizations, several factors are identified that affect the financial efficiency of SMEs in Montenegrin hotel industry. Key findings indicate that hotel industry in Montenegro is experiencing limited financial efficiency, especially in terms of following financial indicators: low average annual growth rate of the operating revenues per room of just 4% in period 2008-2013; room occupancy has grew from average annual 37% in 2008 to 39.5% in 2013; decrease in average investment in 2013 comparing to 2012 for 54.6%, together with negative prognosis for future investment till end of 2015; and serious regional disbalance in sense of key indicators (e.g. operating revenue, gross operation profit) in seaside, central and northern area of Montenegro, where level of demand in Northern (Mountain) region is still below the Montenegrin average, etc. The contribution of this research comes from the analysis of financial indicators and accounting system of hotel industry in Montenegrin, which provides the guidance and ideas for further improvements in the important sector of tourism.
Are customers’ reviews creating value in the hospitality industry? Exploring the moderating effects of market positioning
Neirotti, Paolo; Raguseo, Elisabetta; Paolucci, Emilio (Elsevier, 2016-12)
Although user-generated reviews on social media are greatly influencing competition and customer purchase patterns in the hospitality industry, empirical research has so far marginally investigated whether hotels are able to appropriate the economic value that the use of social media features can bring. In order to fill this gap, this article uses panel data from 2004 to 2012 on a sample of 240 small and medium-sized hotels for which we have collected data on profitability and 50,115 user-generated reviews on TripAdvisor, one of the most popular and largest online community for travelers. The results from fixed effects regression models show that online ratings from user-generated reviews on TripAdvisor have a positive effect on hotel revenue growth that is outweighed by a negative effect on gross profit margins. Thus, the increasing importance of user-generated reviews in online communities for travelers is shifting hotel competition from unit profit margin to volumes and to higher room occupancy rates, with online retailers capturing most of the value created in online transactions through social media features and with a limited effect brought on net profitability. However, hotels with higher star-rating, with a lower degree of local competition and localized outside popular destinations were found to obtain more benefits from online visibility on their gross and net profitability. Based on these results, managerial implications discuss how hotels should use social media features according to a strategic view based on pursuing the horizontal and vertical differentiation of their services in an attempt to create more economic value from their online visibility and to protect profit margins from the intermediation in their customer relationships.
Assessment of Energy-Saving Practices of the Hospitality Industry in Macau
Wang, Xu; Wu, NaiQi; Qiao, Yan; Song, QingBin (MDPI AG, 2018)
Macau is building a world tourism and leisure center. In the context of flourishing hospitality development, energy issues have attracted more and more attention in recent years. On the basis of the field survey of 28 hotels, an evaluation index system is built to assess the status of energy-saving and environmental protection practices in the hospitality industry in Macau. This system is built by selecting some credits from Leadership in Energy and Environmental Design (LEED) and adding several new indices according to the social and economic characteristics of Macau. The results show that the hotels have made significant efforts to improve the energy efficiency in recent years. A total of 71.4% of the hotels have formulated and implemented the energy-saving and environmental protection programs. However, there is an apparent gap in energy and environmental performance between different star-level hotels. The higher is the star-level of a hotel, the higher enthusiasm on energy-saving a hotel has, e.g., 63.6% of the 5-star hotels carried out the carbon auditing and energy management measures, but there is no 2-star hotel that adopted them. The energy-saving performance can be great improved if more efforts are made in the future, especially for the 2-star hotels. Finally, we put forward some suggestions for how to bridge this gap and present a possible roadmap for the further improvement of energy efficiency of the hotel industry in Macau. The results from this work are useful to help the government and hotel managers to take actions for improving the energy utilization and efficiency of the hospitality industry in Macau.
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.
The Basics of Yield Management
Kimes, Sheryl E. (Cornell University Press, 1989-11)
Yield-management systems have boosted revenue at many properties, but these electronic tools are not always compatible with the operating atmosphere of a hotel. If you want to introduce yield management at your property, you may need to make some changes first.
Change in the Hospitality Industry: New Paradigms, Frames, and Perspectives
Oshins, Mike (2017-06-12)
A comparative study of profitability analysis of selected hotel industries
Kayathiri Bai, B.; Buvaneshwaran, V. (International Journal of Applied Research, 2015)
The hotel industry is a mature industry marked by intense competition. Market share increases typically comes at a competitor’s expense. Industry-wide, most growth occurs in the international, rather than the domestic area. Hotels are a major employment generator in Hospitality industry. Work in the area of Hotel Management involves ensuring that all operations, including accommodation, food and drink and other hotel services run smoothly. It includes instructions in hospitality administration, hotel/motel management, restaurant and food services management, facilities planning, leisure studies, recreation administration, marketing, recreation equipment and grounds operations and maintenance, business finance, insurance and taxation, event management and guest services, personnel management, travel and logistics management, safety and health services, professional standards and ethics, and applications to specific vacation types and locations.
Considerations for Implementing a Hotel Revenue Management System
Mahesh, Akram (UNLV Theses, Dissertations, Professional Papers, and Capstones, 2015-05-01)
To fully understand and implement a revenue management system, hotel managers will need to research all aspects of a system, its requirements, and the hotel’s requirements to ensure that they are implementing a system that will work best for their property. This kind of research requires finding information in literature that is scattered in many locations. An owner or manager of a small to midsize hotel would need to invest a lot of time and energy into this process. Unlike giant companies like Marriott or Hilton, small to midsize independent hotels do not have the manpower to research and implement these systems without some help. What needs to be known before implementing a RMS? This paper will seek to answer questions and concerns hotel owners and managers have about the implementation of revenue management systems. What should managers expect to achieve by implementing a RMS and what could potentially hinder the RMS from achieving its full potential? What types of features are available in RMS and what are its benefits? What does management need to do to guarantee successful operation of an RMS? These questions will be answered by consolidating the scattered literature on revenue management systems and taking the experiences and insights from hotel technology vendors and combining it into a comprehensive guide that will bring to light information that should be known before implementing a RMS.
Correlation Between The Penetration Strategies And Marketing Mix Of International Hotel Chains In Romania
Adina, Cosma Smaranda; Fleseriu, Cristina; Marius, Bota (Review of Innovation and Competitiveness: A Journal of Economic and Social Research, 2016)
On the Romanian market there are 21 international hotel chains, having 51 hotels. The goal of the research paper is to analyze which are the marketing mix policies and strategies used by the hotels, belonging to an international hotel chain on the Romanian market. For this purpose, a descriptive research was implemented through investigation of all the hotels that are part of an international hotel chain. The research reveals that hotels operate by abiding the norms established by contract. The higher the risk, the investment and control are, the more influence the hotel chain has regarding the pricing strategies. Hotels use their own channels but also the parent chain channels. Promotion strategy takes into account global, regional and local issues encountered. The majority of the hotels have the possibility to decide some internal elements for their personnel. All the hotels apply norms and standardized procedures regarding the quality of the services. The most expected advantage for a hotel that belongs to an international chain is the visibility at international level.
The Debate Regarding Profitability: Hotel Unit and Hotel Brand Revenue and Profit Relationships
O'Neill, John W.; Mattila, Anna S. (Journal of Travel & Tourism Marketing, 2006)
The research note explores a debate in the hotel industry regarding the relationship between hotel RevPAR and profitability, a debate around which there is a great degree of “noise.” Using a sample of 1,954 actual hotels for which both top line and bottom line indicators were available for the same year, it is concluded through this statistical analyses that while hotels with higher revenue, and particularly higher room revenue, have a higher NOI in dollars, they do not necessarily have a more profitable business model in terms of NOI percentage. Also, brand level analyses is presented.
A Decision Model for Hotel Revenue Management Displacement Analysis for Transient Room Demand vs. Group Room Demand
Morse, Stephen C.; Beckman, Eric (Journal of Hotel & Business Management, 2016)
Revenue management in the hotel industry involves measuring the trade-off of revenue of one type of business over another type of business. One of the major decisions involves choosing revenues generated by transient (individual) room demand vs. revenue generated by group room demand. Traditionally, this decision was relatively straight forward as one would compare the ADR generated revenue for transient vs. group demand, and chose the type of business that maximized revenue. The decision model developed in this study shows there are many additional variables beside ADR generated revenue to consider with this business decision and trade-off of transient vs. group demand. Incorporated into this decision model are additional variables important to the decision like ancillary non-room revenue such as catering, food and beverage sale, meeting room rental, audio/visual services and other activities.
Defining Best Practices In Hotel Sales During A Difficult Economy 2008-2010
Flitter, Brandon L. (2011-05)
This study studied the effect of economic change on the hotel industry between 2008 and 2010 and profiled possible economic recovery markers for 2011. The literature review covered the elements that have changed in the travel market profiling how the consumer in all segments reacted to the downturn. Business travelers cancelled movements, cut budgets or truncated the length of trips while leisure travelers chose to not travel or limit movements. At the same time hotels saw an increase of room supply in the United States as room rates fell. It then became the responsibility of the hotel sales department to find way to recover lost revenue even as they were directly affected by the change in market and performance expectations by ownership. Budgeting, time, staffing and morale became key 3 elements to understand how a sales staff responds and how they could use “Best Practices” to discover alternative revenue streams. The study profiled three best practices learned based on the research. They were Best Practices to overcome decreased overall hotel service operation levels, to Overcome Decreased Marketing Dollars and to Overcome the lack of individual and group Sales Manager Support.
Design and Implementation of Mathematical Model for Revenue Management in Hospitality Industry
Ebiendele E, Peter; Ebiendele, Helen (Journal of Hotel & Business Management, 2018)
Revenue management is the art and science of maximizing revenue under various variable conditions. It is a management tool that has the objective of increasing sale revenues by manipulating the prices at which fixed products in the hotels are made available for sale in relation to the current and forecasted demand. This paper focus on the design and implementation of mathematical model, of the type of linear programming, which will help the revenue managers in the hospitality industry to manage their revenue to enable the hotel’s maximized their contributions. This model becomes necessary today in the hospitality industry, because of the complex decisions facing the hotel’s manager as regarding what product to produce, quantity of the product and services to produce such product and so on. How this model could be applied in the food and beverages department in the hospitality industry was demonstrated. The paper also illustrated the skill of who is to be a revenue manager in the hospitality sector. The paper concludes and recommends that if the model is adopted, it will improve the sector revenue generation among others and reduce wastage, if not totally eliminated in the foods and beverages departments.
Determinants of Tunisian hotel proﬁtability: The role of managerial efﬁciency
Aissa, Sami Ben; Goiaed, Mohamed (Tourism Management, 2015)
Using ﬁnancial data derived from 27 hotel companies operating in Tunisia, the paper reports an analysis of hotel proﬁtability. Using Data Envelopment Analysis (DEA) and the Return On Assets (ROA) analysis managerial efﬁciency is shown to be important when holding geographical and operating contracts as constants. Nonetheless these two aspects have important implications for hotel proﬁtability. Hotel size, level of indebtedness, exposure to crisis events and levels of managers' education are also inﬂuential. The implications for management tenure and optimal age of a hotel are discussed
Developing a Price Management Decision Support System for Hotel Brokers Using Free and Open Source Tools
Kisilevich, Slava; Keim, Daniel; Byshko, Roman (SciTePress, 2011)
In the Internet age, e-commerce provides customers global reach to a wide variety of products and plays a dominant role in business activity and competition. Competition is especially aggressive in the online travel domain where wholesalers, e.g. brokerage companies, contract through their contract managers with thou- sands of hotel brands and trade hotel products (usually hotel nights) for travel businesses or end customers. In order to conclude a profitable contract, a contract manager should be able to compare all the particulars of the prospective partner hotel with those of the competing hotels in the target city. Given that the number of contract managers is comparatively small compared to the large number of hotels, the possible knowledge base is limited. Thus, the hotel brokerage companies are only able to bargain with a relatively limited number of hotels, and the contract profitability relies heavily on the contract managers’ expertise and communication skills. In this paper we present a price management decision support system (DSS) for hotel brokers that allows analysis of hotel prices using spatial and non-spatial characteristics, estimation of the objective relative hotel prices, and determination of the profitability of the existing or future contracts. We built our system using free and open source tools including geographic information system and data mining frameworks that allow companies with limited money resources or manpower to implement such a prototype. We show the ef- fectiveness of our tool by covering all the major components of the DSS such as data selection and integration, model management and user interface. We demonstrate our tool on the area of Barcelona, Spain using a real data of 168 hotels provided by one of the travel service providers.
Differences in seasonal price patterns among second home rentals and hotels: empirical evidence and practical implications
Salo, Albert; Garriga, Anna; Rigall-I-Torrent, Ricard; Vila, Mar; Sayeras Maspera, Josep Maria (Tourism Economics, 2012)
Hotels and second home rentals are two of the most important tourist accommodation options in Spain. In terms of seasonality, almost all previous studies have analyzed tourism demand from the point of view either of total arrivals or the number of tourists lodged in a single accommodation type (hotels, rural accommodation, etc). However, there are no studies focusing on price seasonality or comparing seasonality among different accommodation types. By using seasonality indicators and a price index constructed by means of hedonic methods, this paper aims to shed some light on seasonal pricing patterns among second home rentals and hotels. The paper relies on a 2004 database of 144 hotels and 1,002 apartments on the Costa Brava (northeast Spain). The results show that prices for second home rentals display a smoother seasonal pattern than hotels due to reduced price differences between shoulder (May and October) and peak periods (August).
Digital marketing budgets for independent hotels Continuously Shifting to Remain Competitive in the Online World
Lanz, Leora Halpern; Carmichael, Megan (Boston Hospitality Review, 2015)
The hotel marketing budget, typically amounting to approximately 4-5% of an asset’s total revenue, must remain fluid so that the marketing director can constantly adapt the marketing tools to meet consumer communications methods and demands. Though only a small amount of a hotel’s revenue is traditionally allocated for the marketing budget, the hotel’s success is directly reliant on how effectively that budget is utilized. Thus far in 2015, over 55% percent of hotel bookings are happening online, and mobile search queries have surpassed desktop queries (Google Research 2015). So as the world becomes deeply immersed in today’s digital universe, the marketing departments of independent hotels have directed their resources to the digital stratum, a necessity in today’s cluttered marketing environment and competitively branded arena.

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