Differences in financial performance between various categories of hotels in the Visegrad Group countries

Abstract

Under market economy, financial health of businesses is one of the main determinants in achieving business objectives and building a competitive advantage. The objective of the study is to evaluate differences in the selected financial indicators across the categories of hotels in the Visegrad Group countries. This objective was achieved by testing these differences in the selected financial indicators (CF, EVA, ROE, ROCE, ROA, ROS and many others) for various hotel categories (two-to five-star hotels). Hotel category data (stars) were collected from Booking.com, financial outcomes were obtained directly from the financial statements of the analysed hotels. Testing of differences was carried out by non-parametric tests (Kruskal-Wallis test, Wilcoxon test). Statistically