The impact of the Covid-19 pandemic on the hotel Industry's economic performance: Evidence from Portugal.

This paper estimates the impact of the Covid-19 pandemic on the economic and financial performance of the Portuguese mainland hotel industry. For that purpose, we implement a novel empirical approach to gauge the impact of the pandemic during the 2020-2021 period in terms of the industry's aggregated operating revenues, net total assets, net total debt, generated cash flow, and financial slack. To that end, we derive and estimate a sustainable growth model to project the 2020 and 2021 'Covid-free' aggregated financial statements of a representative Portuguese mainland hotel industry sample. The impact of the Covid pandemic is measured by the difference between the 'Covid-free' financial statements and the historical data drawn from the Orbis and Sabi databases. An MC simulation with bootstrapping indicates that the deviations of the deterministic from the stochastic estimates for major indicators vary between 0.5 and 5.5%. The deterministic operating cash flow estimate lies within plus or minus two standard deviations from the mean interval of the operating cash flow distribution. Based on this distribution, we estimate the downside risk, measured by cash flow at risk, at 1294 million euros. Overall findings shed some light on the economic and financial repercussions of extreme events such as the Covid-19 pandemic, providing us with a better understanding of how to design public policies and business strategies to recover from such an impact.

Dark tourism, the holocaust, and well-being: A systematic review.

Dark tourists experience negative and positive feelings in Holocaust places, suggesting emotional ambivalence. The research question of this study is, "is feeling well-being, as a consequence of dark tourism, a way of banalizing the horror?". The purpose of this study is threefold: to provide an updated systematic literature review (SLR) of dark tourism associated with Holocaust sites and visitors' well-being; to structure the findings into categories that provide a comprehensive overview of the topics; and to identify which topics are not well covered, thus suggesting knowledge gaps. Records to be included should be retrievable articles in peer-reviewed academic journals, books, and book chapters, all focused on the SLR's aims and the research question; other types of publications were outrightly excluded. The search was performed in Web of Science, Scopus, and Google Scholar databases with three keywords and combinations: "dark tourism", "Holocaust", and "well-being". Methodological decisions were based on the Risk of Bias Assessment Tool for Nonrandomized Studies (RoBANS). This systematic review adheres to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. During the process, 144 documents were included, of which 126 were journal articles, 8 were books, and 10 were book chapters. The results point out a hierarchical structure with the main category (Dark tourism - Holocaust - Well-being) and three second-order categories (Dark tourism - Holocaust, Dark tourism - Well-being, and Holocaust - Well-being), from which different subcategories emerge: motivations for visiting places and guiding; ambivalent emotional experience that leads to the transformation of the self; and intergenerational trauma. The gaps identified were the trivialization of horror in Holocaust places; dark tourist profile; motivations and constraints behind visiting dark places; Holocaust survivors and their descendants' well-being; how dark tourism associated with the Holocaust positively or negatively impacts well-being. Major limitations included: lack of randomized allocation; lack of standard outcome definitions; and suboptimal comparison groups. Positive and negative impacts on the well-being of the Holocaust dark tourist were sought, as they are associated with the marketing and management, promotion, digital communication, guiding, or storytelling design of such locations.

Dark Tourists: Profile, Practices, Motivations and Wellbeing.

This work aims to address whether knowing what dark tourism is (or not) impacts rumination on sadness, self-hatred, hostility, psychological vulnerability, and tourist wellbeing, as well as practices and motivations for dark tourism. A quantitative approach, based on a survey of 993 respondents, reveals that women and more educated participants know more about dark tourism; people who know what dark tourism is have visited more Holocaust museums, sites of human tragedy and natural disasters, concentration camps, and prisons; show more curiosity, need to learn and understand, and need to see morbid things. A model was found showing that gender, age, know/do not know dark tourism, and motivations (curiosity, the need to learn, the need to understand, and pleasure) explained 38.1% of a dark tourism practice index. Most findings also indicate that rumination on sadness, self-hatred, hostility, and psychological vulnerability are associated with darker practices. Greater wellbeing was not found in participants who knew in advance what dark tourism was. Interestingly, participants who visit tragic human sites present higher values in hostility and tourist wellbeing than those who do not. In summary, people who visit more dark places and score higher on negative personality characteristics have higher values of tourist wellbeing.

Psychological Factors Explaining Perceived Impact of COVID-19 on Travel.

This cross-sectional study aims to determine the psychological factors that contribute to the perceived impact of COVID-19 on travel using a convenience sample (N = 1122) from the general population to whom instruments assessing the perception of the COVID-19 pandemic's impact on travel, anxiety, fear, phobia, risk perception, and stress were applied. The participants were mainly female (65.6%), had not attended university, and who were professionally active, with a mean age of around 30-years-old (M = 31.91, SD = 13.76, Min = 18, Max = 81). The perceived impact of COVID-19 on travel correlates with all of the psychological variables, mainly in terms of the emotional fear of COVID-19. Together with the perceived risk of COVID-19, social phobia due to COVID-19, and COVID-19 stress contamination, these variables explain 20% of the perceived impact of COVID-19 on travel variance. The relationship between COVID-19 stress socio-economic consequences and the perception of the pandemic's impact on travel is moderated by the emotional perceived risk of COVID-19. Fear and perception of this risk explain the impact of the COVID-19 on travel in pandemic times, suggesting that the psychological impact of fear and anxiety induced by the pandemic needs to be handled as a public health priority.

Portuguese Version of COVID-19 Perceived Risk Scale and COVID-19 Phobia Scale: Psychometric Properties.

The COVID-19 pandemic scenario has a psychological impact on individuals and society. A higher level of perceived risk concerning COVID-19 has been found when compared to other potential health threats. A misperception of risk in contrast with the real risk may lead people to develop disruptive cognitive, affective, or behavioral responses to the COVID-19 pandemic, namely, coronaphobia. Validated instruments are needed to evaluate such responses. This work aims to validate the COVID-19 Perceived Risk Scale (C19PRS) and the COVID-19 Phobia Scale (C19PS) in the Portuguese population. The two scales were translated from English to Portuguese using the back-translation technique. The cultural adaptation was framed in the context of establishing the validity and reliability of the instruments. In two studies, C19PRS and C19PS were validated for the adult Portuguese population (N = 1122; women = 725 (64.6%); mean age of 31.91 years old) through exploratory factorial analysis, followed by a confirmatory factorial analysis. Convergent validity was calculated by composite reliability (CR) and average variance extracted (AVE) values. Discriminant validity was assessed by square roots of the AVE values and their comparison with the C19PRS and C19PS dimensions' cross-correlations. Both C19PRS and C19PS present a good adjustment model and solid reliability and validity and have significant correlations with fear of COVID-19 and COVID-19 anxiety scales.

Validation and Psychometric Properties of the Portuguese Version of the Coronavirus Anxiety Scale (CAS) and Fear of COVID-19 Scale (FCV-19S) and Associations with Travel, Tourism and Hospitality.

The aim of this study is to determine the anxiety and fear related to coronavirus disease 2019 (COVID-19) and their associations with travel, tourism and hospitality, in the Portuguese population. The Coronavirus Anxiety Scale (CAS) and Fear of COVID-19 Scale (FCV-19S) were validated for the Portuguese population and correlations with issues related to travel, tourism and hospitality were established. CAS and FCV-19S presented a good adjustment model and solid reliability and validity. Correlations between CAS and FCV-19S and the perception of the impact of COVID-19 in travel, tourism and hospitality were found. Participants considered that COVID-19 mainly affected their holidays and leisure time. However, the strongest correlation established was between total FCV-19S and emotional fear FCV-19S and the fear of attending hotel facilities. The Portuguese versions of CAS and FCV-19S are reliable psychological tools to assess anxiety and fear in relation to COVID-19 for the general population. The use of hotel facilities is the most threatening issue related to travel, tourism and hospitality. The results suggest that hotels should invest in hygiene and safety measures that allow users to regain confidence in hotel equipment.