Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison
Hotel and Tourism Management
; 10(1):41-51, 2022.
Article
in English
| CAB Abstracts | ID: covidwho-1924568
ABSTRACT
The outbreak of COVID-19 brought many negative effects in different regions and economic areas. However, the hotel industry suffered the most adverse effects due to restrictions and measures imposed by countries. Hence, hotels took substantial hit on their financial performance and efficiency. The adverse impact was not same for all hotels across the globe. The extent to which they will record worsening financial performance depends on the implemented governmental measures and actions taken by the hotels. Assessment of changes in revenues, expenses and expense to revenues ratio shows the magnitude of the impact induced by the pandemic. The findings suggest that most hotels have suffered a substantial loss in revenues and significant increase in expense to revenues ratio.
Tourism and Travel [UU700]; Leisure, Recreation and Tourism Economics [EE119]; Investment, Finance and Credit [EE800]; economic impact; hotels; assessment; efficiency; hospitality industry; resorts; finance; Republic of North Macedonia; Balkans; Southern Europe; Europe; high Human Development Index countries; Mediterranean Region; upper-middle income countries; holiday resorts
Full text:
Available
Collection:
Databases of international organizations
Database:
CAB Abstracts
Type of study:
Randomized controlled trials
Language:
English
Journal:
Hotel and Tourism Management
Year:
2022
Document Type:
Article
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