Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry
COVID-19 has affected every business worldwide, with the hotel industry being among the hardest hit. The aim of this paper is to examine the impact of the pandemic on the liquidity and profitability of the world’s five largest hotel companies. The research is conducted through financial ratio analy...
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| Format: | Article |
| Language: | English |
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University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka Banja
2023-06-01
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| Series: | Mенаџмент у хотелијерству и туризму |
| Subjects: | |
| Online Access: | https://htmanagementvb.com/index.php/HITM/article/view/268 |
| _version_ | 1797794910171037696 |
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| author | Vladimir Radivojević Jelena Dimovski Gabrijela Mitić |
| author_facet | Vladimir Radivojević Jelena Dimovski Gabrijela Mitić |
| author_sort | Vladimir Radivojević |
| collection | DOAJ |
| description |
COVID-19 has affected every business worldwide, with the hotel industry being among the hardest hit. The aim of this paper is to examine the impact of the pandemic on the liquidity and profitability of the world’s five largest hotel companies. The research is conducted through financial ratio analysis and comparative analysis based on available financial data from 2017 to 2022, covering the period before, during and “after” (the recovery period) the crisis. Research results imply that hotels have prioritized liquidity over profitability during the pandemic, with some indicators pointing to its devastating effects that generated a long and difficult recovery. The paper’s conclusions can be useful for the examined hotel companies to control their costs and produce positive financial outcomes in the future. They can also be helpful to policymakers as a respectable delivery system which will guarantee that the support eventually gets to the businesses that need it most.
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| first_indexed | 2024-03-13T03:09:52Z |
| format | Article |
| id | doaj.art-6a8c1cc72ecc4f2e898b72755e89ea12 |
| institution | Directory Open Access Journal |
| issn | 2620-0279 2620-0481 |
| language | English |
| last_indexed | 2024-03-13T03:09:52Z |
| publishDate | 2023-06-01 |
| publisher | University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka Banja |
| record_format | Article |
| series | Mенаџмент у хотелијерству и туризму |
| spelling | doaj.art-6a8c1cc72ecc4f2e898b72755e89ea122023-06-26T14:42:49ZengUniversity of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka BanjaMенаџмент у хотелијерству и туризму2620-02792620-04812023-06-0111110.5937/menhottur2301165RQuantifying the financial impact of COVID-19 on the largest global companies in the hotel industryVladimir Radivojević0Jelena Dimovski1Gabrijela Mitić2University of Priština in Kosovska Mitrovica, Faculty of Economics, Kosovska Mitrovica, SerbiaUniversity of Priština in Kosovska Mitrovica, Faculty of Economics, Kosovska Mitrovica, SerbiaTor Vergata University of Rome, Faculty of Economics, Rome, Italy COVID-19 has affected every business worldwide, with the hotel industry being among the hardest hit. The aim of this paper is to examine the impact of the pandemic on the liquidity and profitability of the world’s five largest hotel companies. The research is conducted through financial ratio analysis and comparative analysis based on available financial data from 2017 to 2022, covering the period before, during and “after” (the recovery period) the crisis. Research results imply that hotels have prioritized liquidity over profitability during the pandemic, with some indicators pointing to its devastating effects that generated a long and difficult recovery. The paper’s conclusions can be useful for the examined hotel companies to control their costs and produce positive financial outcomes in the future. They can also be helpful to policymakers as a respectable delivery system which will guarantee that the support eventually gets to the businesses that need it most. https://htmanagementvb.com/index.php/HITM/article/view/268COVID-19hotel industryliquidityprofitability |
| spellingShingle | Vladimir Radivojević Jelena Dimovski Gabrijela Mitić Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry Mенаџмент у хотелијерству и туризму COVID-19 hotel industry liquidity profitability |
| title | Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry |
| title_full | Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry |
| title_fullStr | Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry |
| title_full_unstemmed | Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry |
| title_short | Quantifying the financial impact of COVID-19 on the largest global companies in the hotel industry |
| title_sort | quantifying the financial impact of covid 19 on the largest global companies in the hotel industry |
| topic | COVID-19 hotel industry liquidity profitability |
| url | https://htmanagementvb.com/index.php/HITM/article/view/268 |
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