The Financial and Economic Performance of Hotels in Spanish Beach Tourist Destinations

Aznar Alarcon, Juan Pedro; Sayeras Maspera, Josep Maria

The Financial and Economic Performance of Hotels in Spanish Beach Tourist Destinations

dc.contributor.author	Aznar Alarcon, Juan Pedro	en
dc.contributor.author	Sayeras Maspera, Josep Maria	en
dc.date.accessioned	2018-10-26T19:59:23Z	en
dc.date.available	2018-10-26T19:59:23Z	en
dc.date.issued	2015	en
dc.description.abstract	This paper analyzes the differences in financial structure, size and profitability of hotels located in three main Spanish coastal areas: Costa Brava, Costa Dorada and Costa del Sol. The study focuses on the analysis of the financial statements of a sample of approximately 100 hotels, finding key differences in hotels’ performance in these three regional clusters of the hospitality industry. The three areas show significant differences in terms of hotel size, financial structure and economic performance. The hotels located in Costa del Sol are much bigger than the hotels located in the other areas but this also implies higher levels of debt and accordingly higher interest payments with a negative effect on the profits level. Hotels in Costa Dorada have a size that allows benefiting from economies of scale, with reasonable interest payments. This size combined with higher occupancy rates are the main reasons for the better economic performance of this area compared with the other two. Finally, we found that there exist exit barriers due to the specificity of the assets involved in the hotel sector.	en
dc.identifier.uri	http://hdl.handle.net/10919/85555	en
dc.language.iso	en	en
dc.publisher	Athens Journal of Tourism	en
dc.rights	In Copyright	en
dc.rights.uri	http://rightsstatements.org/vocab/InC/1.0/	en
dc.subject	Hotel profitability	en
dc.subject	Indebtedness	en
dc.subject	Size	en
dc.subject	Spanish tourism	en
dc.title	The Financial and Economic Performance of Hotels in Spanish Beach Tourist Destinations	en
dc.type	Article	en
dc.type.dcmitype	Text	en