Predicting bankruptcy in resort hotels: a survival analysis

Gémar, Germán; Soler, Ismael P.; Parra, Vanesa Francisca Guzmán

doi:10.1108/ijchm-10-2017-0640

Cited by 41 publications

(44 citation statements)

References 64 publications

(87 reference statements)

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“…The negative impact of tourism location on firm survival was further exacerbated by massive numbers of cancellations by foreign visitors during the political crisis in 2015–2016. In support of these results, Gemar et al (2019) also find that hotels located in tourism destinations in the Canary Islands have higher failure rates than those in other locations.…”

Section: Resultssupporting

confidence: 64%

The impact of economic and political crises on the survival of tourism-related firms: Evidence from Antalya

Türkcan

Erkuş‐Öztürk

2019

Tourism Economics

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This article examines the effects of economic and political crises on the survival of 7115 tourism-related firms (hotels, restaurants, travel agencies and spas) in the Antalya region between 2000 and 2016. Using a discrete-time hazards model, we show that tourism-related firms exhibit lower survival rates during times of crisis. We have also found that age, size and legal form increase survival rates. In addition, firms in tourism locations specialized subregions and subregions with higher entry rates have lower chances of survival, whereas firms in tourism destinations with large markets have higher chances to survive. Our empirical analysis suggests that hotels and travel agencies are more sensitive to macroeconomic and political shocks than other tourism-related businesses like restaurants and spas.

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Section: Resultssupporting

confidence: 64%

The impact of economic and political crises on the survival of tourism-related firms: Evidence from Antalya

Türkcan

Erkuş‐Öztürk

2019

Tourism Economics

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“…The author employed Cox's semi-parametric proportional hazards regression to examine which factors influence hotel bankruptcy and by how much each factor increases the risk of bankruptcy. Gemar (2019) found that bankruptcy in the case of resort hotels in Spain depends on the size, location, business cycle, executive management, and the business cycle; bankruptcy did not depend upon hotel type or financial structure. Kim and Gu (2006) developed a logit model and compared it to a discriminant model in order to determine which model provides a more accurate forecasting of bankruptcy.…”

Section: Business Failure Models In Tourism and Hospitality Sectorsmentioning

confidence: 87%

“…In a more recent study, Gemar (2019) examined factors that influence resort hotel survival in Spain. The author employed Cox's semi-parametric proportional hazards regression to examine which factors influence hotel bankruptcy and by how much each factor increases the risk of bankruptcy.…”

Section: Business Failure Models In Tourism and Hospitality Sectorsmentioning

confidence: 99%

Examining Ownership Equity as a Psychological Factor on Tourism Business Failure Forecasting

Korol

Spyridou

2020

Front. Psychol.

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This paper examines ownership equity as a predictor of future business failure within the tourism and hospitality sectors. The main goals of this study were to examine which ratios are the most important for a tourism business failure forecasting model and how significant is the "total percentage of equity ownership by company directors" ratio compared with other ratios associated with the probability of bankruptcy. A stepwise weight assessment ratio analysis (SWARA) was applied, and 12 tourism bankruptcy experts evaluated key ratios. Total percentage of equity ownership by company directors is considered a psychological factor, and it was identified as the fourth most important ratio for a business failure forecasting model. Academicians and practitioners can use the findings of this study whenever developing a forecasting model for tourism and hospitality enterprises.

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“…Researchers have also concluded that destination recommendation's impact is more im-portant than intention to return since the latter is subject to multiple tourist motivations [26,27]. Many studies further link customer satisfaction with tourism establishments' location [29][30][31][32], so location is associated with these companies' survival [33][34][35].…”

Section: Literature Reviewmentioning

confidence: 99%

Factors Associated with Spa Tourists’ Satisfaction

2021

Self Cite

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Most spas are surrounded by beautiful natural environments, so these facilities contribute to sustainable economic development and their guests are national and local tourists with a high average stay. This study has the objective of analyzing the factors associated with the level of satisfaction and the profile of spa tourists in Andalusia, southern Spain. The methodology used was a quantitative study based on a stratified cross-sectional survey. Each stratum was a spa, with a population of 53,231 users per year, whose final sample included 725 users. The results found were that the profile of Andalusian spa tourists is predominantly female, over 56 years old, and retired with average incomes below one thousand euros. The level of satisfaction of its users is above the average in the factors of accommodation, restaurants, spa, and public roads and natural environment and most of these clients would recommend it to others [92.4%] and express the intention to return [63.6%] which indicates that Andalusian spas show a very high level of customer loyalty. The study has the limitation of being cross-sectional quantitative research carried out in Andalusia that could be complemented in future research with a qualitative study with experts. The research presents contributions for companies since they could develop strategies to attract users with younger profiles with activities, prices, or spaces that are more appropriate to their needs and seek the conditions to increase the satisfaction of these segments. The study is original since this research is a quantitative study that shows the real profile of the Andalusian spa tourist and their high level of satisfaction with the spa and their loyalty. The surveys were conducted at each spa by a face-to-face researcher with a response rate of 98%.

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Predicting bankruptcy in resort hotels: a survival analysis

Cited by 41 publications

References 64 publications

The impact of economic and political crises on the survival of tourism-related firms: Evidence from Antalya

The impact of economic and political crises on the survival of tourism-related firms: Evidence from Antalya

Examining Ownership Equity as a Psychological Factor on Tourism Business Failure Forecasting

Factors Associated with Spa Tourists’ Satisfaction

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