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In this study, we conducted a multilevel analysis of factors affecting customer satisfaction in the global hotel industry. The survey data collected from TripAdvisor.com included customer reviews relating to 13,410 hotels located in 80 major global urban tourism destinations. We examined multiple relevant factors at each of the following five levels of analysis: (a) service encounter, (b) visitor, (c) visitor’s nationality, (d) hotel, and (e) destination. The results show that hotel attributes and the personal characteristics of visitors most powerfully influence customer satisfaction. However, the purpose of the trip, the characteristics of the destination, and the visitor’s nationality are also found to play an important role in hotel evaluation. By integrating multiple levels of analysis into a single statistical model, multilevel modeling framework enables researchers and professionals to see the “big picture” of factors affecting customer satisfaction in the contemporary hotel industry.

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The aim of this paper is to assess the expectations of hotel guests in relation to the services offered by the hotel. For the purpose of this research, data on 6,768 hotels located in 47 capital cities in Europe were collected from the website www.booking.com. We have used all information available on the website regarding the hotels chosen on the basis of previously specified criteria, including ratings given by the registered users. The methods of partial correlation and hierarchical regression analysis were then conducted. Research results indicate that the number of stars is the most important factor that influences overall customer satisfaction in the hotel industry. We find that room price, the presence of airconditioning in rooms, lobby bar, and free Wi-Fi are variables that positively correlate with customer satisfaction, whereas the number of rooms in hotel and distance from the city center are negatively correlated with customer satisfaction.

The aim of this study was to investigate the association between short- and long-term exposure to particulate matter (PM10), nitrogen dioxide (NO2), sulfur dioxide (SO2), and soot and mortality attributed to circulatory and respiratory diseases in Belgrade area (Serbia). The analyzed data set comprised results of regular pollutant monitoring and corresponding administrative records on frequency of daily mortality in the period 2009-2014. Nonlinear exposure-response dependencies and delayed effects of temperature were examined by means of distributed lag nonlinear models. The air pollutant loadings and circulatory system-related death rates in Belgrade area are among the highest in Europe. Data demonstrated that excess risk of death with short-term exposure to elevated concentrations of PM10, SO2, and soot was not significant, whereas marked effect size estimates for exposure over 90 d preceding mortality were found. The influence of chronic exposure was shown to be greater for respiratory than circulatory system-related mortality. When stratified by age and gender, higher risk was noted for male individuals below the age of 65 years.

The purpose of this paper is to give some insight into the level of capital adequacy and the efficiency of its use in companies in the Republic of Serbia. As no similar research has yet been conducted in this manner, we believe that certain benchmark in this field is necessary when analysing company's financial performance. In order to do so, financial statements for 53,996 companies have been examined and the main financial indicators have been calculated. Results indicate that total negative equity of sound companies is double in comparison to those in bankruptcy. General market conditions resulted in significant decrease of Return on Equity (ROE) and total revenue in the last four years (2008-2011). In the same period of time, private companies with small number of owners such as limited liability companies, general partnerships, and limited partnerships overperformed in comparison to other legal forms. In addition, indebted companies create much higher negative results than the sound ones create positive ones.