h i g h l i g h t s • To point out the theoretical advantages of GMM in relation to other (often used) panel data estimators. • To demonstrate its advantages in the case of the emerging markets in the countries of Latin America. • To identify a relevant econometric model. • To demonstrate the impact of crucial macro and microeconomic variables on the NPLs.
One of the hotel companies' key strategies in terms of increasing domestic and international competition is that the hotel service offer reflects a high quality level. Aim of this paper is to measure the guests' satisfaction level by the intangible components of offer in the Kolubara District hotels, i.e. to show the significance of this dimension in the total process of providing hotel services. Satisfied guests show a higher loyalty level, which represents a precondition for visiting the same hotel by the same guests and recommend it to their friends. The research was conducted in four hotels, where 100 respondents, the guests of the hotel, were surveyed. The research results showed that the intangible dimension of hotel offer can predetermine and increase the value of services to a large degree, and guests' satisfaction as the users of services as well.
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