The Financial Impact of Joining the Chain and Improving Hotel Rating: A Case Study in Russia
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The objectives of this study were to consider the development of hotel chains in Rus- sia and, further, to analyze the financial advantages or disadvantages of joining as part of the largest hotel chain’s membership, as well as to analyze the financial activ- ity of the company before and after joining the chain. The theoretical foundation of this research was based on overall theories of economic development. This research was conducted within a case study framework. The research instruments used were interviews of hotel employees for thematic analysis, and chronological analysis of the hotel’s financial performance during two periods: 2010-11 and 2012-13. Findings of the research indicate that joining a well-known and large hotel chain as well as an improved hotel ranking has a significant financial impact on the hotel studied within this case study. It certainly improved the image of the hotel in the market, increased its reputation, and made it more recognizable.