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This paper analyzes the changes in the total factor productivity index of a Spanish hotel chain in the period from 2007 to 2010 with the purpose of identifying efficiency patterns for the chain in a period of financial crisis. The data envelopment analysis (DEA) Malmquist productivity index was used to estimate productivity change in 38 hotels of the AC chain. Results reveal AC hotels' efficiency trends and, therefore, their competitiveness in the recession period; they also show the changes experienced in these hotels' total productivity and its components: technological and efficiency changes. Positive efficiency changes were due to positive technical efficiency rather than technological efficiency. The recession period certainly influenced the performance of AC Hotels, which focused on organizational changes rather than investing in technology.KEYWORDS | Efficiency, productivity, data envelopment analysis, Malmquist index, Spanish hotel chains. RESUMOEste artigo analisa as mudanças no fator total de produtividade de uma cadeia de hotéis na Espanha, no período de 2007Espanha, no período de -2010

The aim of the paper focus on identifying those factors involved in the competitive success of hotel companies and the interrelations between them, taking into account the socio-economic influence that these companies might have on Andalusian region and the few studies carried out in tourism sector so far. The study tries to specify an econometric model that may include factors that appear as mechanisms for the generation of competitive advantage. The research model allows us to identify the relative impact of the "industry factor" and the company's own specific factors, "hotel intangible resources", on competitive success.