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Scientific work on "Inclusiveness of Financial Activities of Hotel Institutions During the Covid-19 Pandemic" aims to conduct a financial analysis of the state of the hotel services market in Ukraine and the world during the period of active progression of the Covid-19 virus infection. The purpose of the article. The aim of the work was to study the peculiarities of the financial development of the hotel industry in the pandemic in the world and in Ukraine. The methodology. The totality of research methods is a methodology for analyzing and organizing the main legislative acts and laws, namely the methods of generalization, comparison, chronology, analysis and generalization. Segment diagramming, elements of financial analysis, as a digital display of the state of the economic level of development are used to visualize the state of the hotel business market. The results of the research. The study analyzes the level of change in sales revenue from the hotel business in Ukraine. The regions of Ukraine were divided into the main tourist regions and the structure of accommodation facilities by types and specialized accommodation facilities have been developed. The scientific work considers the hotel industry as elements of the market of services of Ukraine, so the distribution of accommodation is divided into in the following regions: central region, northern region and western and southern regions. The location of hotel business establishments is appropriately structured. Conclusions that were made indicate the need to improve the quality of services while expanding their range, which is due to the ever-increasing demands of consumers in accordance with the requirements of advanced technologies. A significant expansion of the range of accommodation (apartments, villas, holiday homes, country and guest houses, chalets, etc.) will best guide different groups of tourists and diversify the types of recreation. The presented paper depicts relevant and necessary research that will help hotel business leaders to respond in a timely manner to financial threats. During the Covid-19 pandemic, it is important to monitor the state of the Ukrainian services market, timely implement all possible security measures and prevent the impact of adverse factors on the development of the hotel business. [ABSTRACT FROM AUTHOR]

Peer-to-peer markets, collectively known as the sharing economy, have emerged as alternative suppliers of goods and services traditionally provided by long-established industries. The authors explore the economic impact of the sharing economy on incumbent firms by studying the case of Airbnb, a prominent platform for short-term accommodations. They analyze Airbnb’s entry into the state of Texas and quantify its impact on the Texas hotel industry over the subsequent decade. In Austin, where Airbnb supply is highest, the causal impact on hotel revenue is in the 8%–10% range; moreover, the impact is nonuniform, with lower-priced hotels and hotels that do not cater to business travelers being the most affected. The impact manifests itself primarily through less aggressive hotel room pricing, benefiting all consumers, not just participants in the sharing economy. The price response is especially pronounced during periods of peak demand, such as during the South by Southwest festival, and is due to a differentiating feature of peer-to-peer platforms—enabling instantaneous supply to scale to meet demand. [ABSTRACT FROM AUTHOR]

From the point of view of firms' managers, the knowledge of the factors which explain their firms' financial results is considered of great usefulness to propose the most appropriate and profitable marketing strategies and actions. This research sets out from this central idea and proposes a model of relationships that considers the marketing results, the marketing capabilities, and the innovation capability as key factors for achieving good financial results. This model is verified via an empirical investigation carried out among 200 directors of hotel establishments in Andalusia, a region in the south of Spain which is one of the country's main tourist destinations. The results indicate that innovation capability is strongly conditioned by marketing capabilities and resources and that this innovation capability affects the financial results of the firms analyzed. Likewise, it is deduced that a market‐oriented management philosophy contributes to the development of these marketing capabilities. The implications for management are considered very relevant as they must lead these firms to invest in the development of marketing resources and capabilities, and apply a market‐oriented management philosophy if they wish to improve their financial results. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to explore the relationship between the ability, motivation and opportunity model, and organisational citizenship behaviour (OCB) as a result variable, using the perceived organisational support (POS) as a moderator of this relationship. Design/methodology/approach: The hypotheses developed here are tested using data from a sample of Spanish firms belonging to two industries: finance and hotels. These sectors were selected due to the serious impact the recent financial crisis had on them, and because they may benefit from extra-role behaviours. Findings: The results reveal that ability and motivation significantly influence the level of OCB. POS also has a notable direct effect on OCB, as well as moderating in the relationship between opportunity and OCB. Originality/value: The study's findings have some important lessons for practitioners and researchers with an interest in OCB, showing how to improve these extra-role behaviours, which can be so necessary in this post-crisis context. [ABSTRACT FROM AUTHOR]

Food and beverage (F&B) sales is one of the core elements of hotel sales revenue. From a financial perspective, the F&B department has high cost-low profit indicators. This study aims to explore the relationship between the level of importance of F&B cost-control measures given by F&B managers and their frequency of use in F&B departments. It measures whether the frequent use of these control measures mediates the positive relationship between the importance given by F&B managers and hotel financial and non-financial performance. The results indicate that there is a positive relationship between the level of importance of F&B cost-control measures given by F&B managers and the frequency of use. Additionally, the frequent practice of these control measures mediates the positive relationship between the level of importance given by F&B managers and hotel financial and non-financial performance. [ABSTRACT FROM AUTHOR]

Investigating the role of pricing and revenue management is a continual concern as successful businesses rely on sound financial management. This paper examines the pricing objectives, strategy determinants, and strategies employed by hotels while taking managerial concerns into account. The study determines managers’ key pricing concerns and investigates value-informed pricing strategies, making comparisons against the findings of past research to address calls for further investigations. Employing an embedded mixed methods research approach, the study used structured questionnaires and semistructured interviews to gather data from hotel managers influential in price setting. Overall, the study indicates similarities and differences in price determination factors in the hotel industry. Formality in determining prices suggests that pricing is integral to hotel management and hotels employ different pricing strategies depending upon the pricing objectives and strategy determinants. A significant finding is that upscale hotels place high importance on pricing due to intense competition related to their wider product portfolio in comparison to luxury and mid-scale hotels and tend to rely on competition-based pricing. Although exploratory in nature, the results are valuable and provide compelling practical implications and suggestions for future research. Hotel managers can benefit from the wider issues stressed in the paper related to short-term versus long-term, firm-based versus market-based, and relationship versus revenue considerations. [ABSTRACT FROM AUTHOR]

Over the past few years the sharing economy has grown tremendously, driven in part by traveler desires for authentic and unique experiences. In response to these modern changes, peer-to-peer (P2P) marketplaces (e.g., Airbnb) are seeking additional revenue streams, expanding beyond room rentals into guided tours, recreational, and cultural experiences. Rather than act solely as sharing economy lodging establishments, in the near future providers will increasingly supply authentic and immersive vacation experiences, acting as a host, guide, concierge, and traveling companion to their guests. This paper explores the ability of P2P providers to command premium pricing for authentic and immersive P2P offerings. The paper details this possibility, listing drivers of change before positing a scenario that helps envision a future in which P2P providers seize this opportunity. Finally, the paper closes with limitations, practical implications, and future research recommendations. [ABSTRACT FROM AUTHOR]

This paper aims to investigate the competitive success factors for hotel companies and examine the link between business strategy and performance. Using a structured questionnaire, the researchers collected data from hotel managers in Spain. Study results suggest that a firm’s assets and strategies have a greater influence on performance than industry forces do. This lack of direct influence by industry forces is due to the sector’s specific characteristics, which cannot be overlooked during analysis. Based on these research findings, theoretical and managerial implications and future research are presented. [ABSTRACT FROM AUTHOR]

We review the "Hotel/Lodging Real Estate Industry Trends and Innovations" discussed by panelists at the Thirty-Second Annual Meeting of the American Real Estate Society in Denver, Colorado, in Spring, 2016. More specifically, based on that event's presentations, questions, and subsequent feedback, we discuss four hotel/ lodging real estate trends to suggest additional future research collaboration opportunities for academic researchers and industry practitioners. The shared lodging economy in the super-connected high-tech economy is discussed first, followed by non-traditional sources of hotel financing, new forms of boutique/lifestyle hotels/ lodging, and hotel services and resort fees. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to examine the effects of leadership styles on financial performance. Although the importance of leadership styles has been recognized in practice and academia, little research has focused on the impact of leadership on financial performance in hospitality and tourism industry. Design - The paper first defines motives, leadership styles, leaders' experiences, and Linguistic Inquiry and Word Count (LIWC). It then uses quasi-experimental design to predict the impacts of leadership styles and leaders' experiences on financial performance. Methodology - The study has conducted partial least square regression to find the effects of leadership styles and leaders' experiences on financial performance of the hotel companies. Approach - Vision statements of the publicly traded hotel companies are transferred into motives and leadership styles using the LIWC. Findings - Transformational leadership and longer-tenured CEOs with high power and affiliation motives are associated with return on equity (ROE) whereas transactional leadership and older CEOs with high achievement motive affect return on assets (ROA). Originality of the research - The study opens a new approach to quantify the vision statements using LIWC and contributes to the relationship of leadership styles, leaders' experiences, and financial performance. [ABSTRACT FROM AUTHOR]

Extant research in finance suggests asymmetric information increases the cost of external financing substantially and creates underinvestment problems. While franchising might reduce underinvestment problems, it might exacerbate overinvestment problems in poorly-governed firms. Using combined postulations from both the pecking order theory and the free cash flow theory, this study examines the value of cash holdings in hotel firms and the extent to which franchising, financial constraints, and corporate governance affect this value. The findings suggest that cash can be a curse and a blessing; cash is more valuable for financially constrained firms than for unconstrained firms and less valuable for poorly-governed firms than for well-governed firms. Also, financial constraints have a greater effect on the value of cash holdings than weak corporate governance. Although franchising could solve underinvestment problems, it makes poorly-governed firms more vulnerable to overinvestment. Practical and theoretical implications are discussed within realms of corporate finance and franchising. [ABSTRACT FROM AUTHOR]

Hotels are increasingly shifting their online review strategy from passive listening to proactive engagement through management responses. This study investigates the joint effects of management responses and online reviews on hotel financial performance. Based on a large unique dataset of 22,483 management responses to 76,649 online consumer reviews on TripAdvisor over 26 quarters, matched with quarterly hotel financial performance, this study finds that providing timely and lengthy responses enhances future financial performance, whereas providing responses by hotel executives and responses that simply repeat topics in the online review lowers future financial performance. Moreover, review rating and review volume moderate the effects of management responses. When the average review ratings increase, more management responses of greater length should be provided. As review volume grows, the benefits of providing timely and lengthy responses diminish. The study findings generate new implications for managing responses to online reviews to increase hotel financial performance. [ABSTRACT FROM AUTHOR]

This article aimed to identify the key managerial competencies required of hotel financial controllers and the importance of hospitality experience to their roles. Data from a longitudinal study of hotel financial controllers have been analyzed, gathered using a content analysis of job advertisements, a survey of U.K. hotel financial controllers and interviews with key financial managers. Using a grounded theory approach, the findings show that although there are many similarities with the generic accounting profession, the hotel finance role is unique. Their experience combining with hospitality management competencies to support operational managers. Their understanding of the complexity of the operation, in a dynamic and perishable environment, enables hotel financial controllers to act as business advisors to other managers, thereby enhancing profitability on behalf of stakeholders. Implications for industry include (a) the need for further promotion of hospitality finance as a valid career and (b) the importance of recruiting managers with experience of this distinctive industry context. [ABSTRACT FROM PUBLISHER]

In today's world, hotel organizations contend with a highly competitive environment—an environment that is saturated with new technologies, customers who expect superior service, a drive toward innovation, and the challenge of ever-increasing costs. The survival of these organizations often depends on their overall financial performance, their ability to adapt to the changing environment, and the way in which they transform and expand their services to meet their customers' needs. Remaining abreast of the newest trends in the hotel industry can be costly to hotels and may influence their overall financial performance. In this article, the director of finance of a resort hotel in Orlando, Florida, USA, shares some thoughts with the author on the newest business, technology, and hotel marketing trends that are believed to influence the financial performance of the hotel industry in the next few years. [ABSTRACT FROM PUBLISHER]

Contrary to the practical application of revenue management (RM), its theoretical definition has remained virtually unchanged. Today's data-driven approach to RM forms an integral part of management and clearly contributes to the financial performance of hotels. Its growing importance and the shifting balance between art and science in RM decision making is only partially supported by changes to its underlying process. Additional tasks place new demands on the required competences and fight for priority with the core responsibility of optimising (overall) revenue potential. This article provides a brief historic overview of hotel RM and outlines and discusses its current state as well as future challenges. [ABSTRACT FROM AUTHOR]

In this article, I discuss the history of hotel revenue management (RM) and trace its evolution over the past 25 years. The most important change in hotel RM has been its evolution from a tactical inventory management approach to a more strategic marketing approach. [ABSTRACT FROM AUTHOR]