Purpose: The aim of this study is to analyze the existence of a relationship between the presence of nearby substitute products, mainly Airbnb flats or rooms, and the effect on the revenue and profitability of hotels. Design/methodology:The empirical study is based on the analysis of financial information provided in the annual reports of a sample consisting of 43 hotels (11.78% of the population).As an explanatory variable for profitability, we have considered the presence of apartments listed in Airbnb that are no farther than one kilometer from each hotel. Considering that most of the variables used do not follow a normal distribution, the existence of a relationship between profitability and the explanatory variables has been tested using non-parametric tests, namely, the Spearman correlation coefficient and Kruskall-Wallis test. Findings:We found a positive correlation between presence of Airbnb apartments and return on equity. This fact can be explained by considering the presence of Airbnb apartments as a variable that measures the attractiveness of the location from a tourist's point of view. Hotels -147-Intangible Capital -http://dx.doi.org/10.3926/ic.921 located near the city center or main tourist areas of the city have a higher level of profitability.We also found no evidence of any relationship between profitability and star category; 4-and 3-star hotels have experienced, on average, a lower drop in revenues between 2008 and 2013 and they also obtained a higher average level of profitability in 2013 as compared to the upper segment of 5-star hotels. Research limitations/implications:This research has been conducted in the city of Barcelona. Future research using the same methodology should be applied to other cities with an important hospitality sector to reinforce our findings. The main implications of this research refer to the importance of location as a key strategic variable in hospitality, and to the change in the system customers use to evaluate the quality of a hotel, according to which the traditional star category system has been partially replaced by new sources of information available through the new communication technologies.Originality/value: This paper is one of the first contributions that scholars have made to obtain a deeper understanding of the effects of the new forms of the sharing economy, focusing on the hospitality industry.
Abstract.Bibliometrics is the quantitative study of bibliographic information. It classifies the information according to different criteria including authors, journals, institutions and countries.
Abstract:The hospitality industry is facing major challenges, among them the new competition from novel forms of supply in the sharing economy. Airbnb, Homeaway, and Niumba, among other websites offering accommodations, are having an important impact in the sector, changing existing conditions and the market for the traditional hospitality industry. In this context, a strategy based in differentiation can help to prevent drops in revenues and profitability. The main objective of this paper is analyse if commitment towards sustainability has a positive impact on financial performance and can be considered a positive strategy in this new environment. The empirical data refer to a sample of hotels in Barcelona, one of the most important tourist cities in Europe. Our results suggest that there is no clear relationship between sustainability and better financial performance; however, sustainability commitment is associated with a minimum size, which can also have positive effects in terms of economies of scale and finally affect profitability. Hotels more committed to environmental issues are located in areas with a lower density of Airbnb apartments, and this geographical distribution can be more positive than a situation of massive tourist concentration in specific areas with negative externalities for neighbours.
Impacto de la calidad del servicio en la competitividad y rentabilidad:El sector hotelero en la costa catalana ResumenObjeto: El objetivo de esta investigación es analizar la relación entre percepción de calidad por parte de los clientes de los establecimientos hoteleros y los resultados económico-financieros de los hoteles. Se trata de determinar si la percepción de mayor calidad por parte de los usuarios se traduce en mejores resultados empresariales.Diseño/metodología/enfoque: El estudio empírico realizado se centra en una muestra de 88 hoteles de las dos zonas costeras más importantes de Cataluña, Costa Brava y Costa Daurada. Las variables para la determinación de la percepción de la calidad provienen de las valoraciones expresadas en TRIPADVISOR. La información económico-financiera se obtiene del análisis de las cuentas anuales para los ejercicios 2010-2012. La existencia de una relación entre las variables mencionadas se ha estudiado a través de ecuaciones estructurales. Aportaciones y resultados:De acuerdo con los resultados del análisis estadístico, no existe una relación significativa entre percepción de calidad por parte de los usuarios y resultados económicos financieros. Los resultados obtenidos son coherentes con otros estudios previos publicados y pueden apuntarse como posibles causas el sesgo en las respuestas de los internautas o la no existencia de motivaciones internas en la implementación de sistemas de calidad.-147-
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