COVID-19 and profitability of hotel companies in the Republic of Serbia
Besides obvious negative consequences for people's health, the COVID-19 pandemic placed significant negative consequences on the economy as well. Since pandemic made tourism and travel almost impossible, these industries of tourism and hospitality suffered the most. The aim of this paper is to...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Academy of Professional Studies South Serbia, Department of Business Studies Blace
2022-12-01
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| Series: | BizInfo |
| Subjects: | |
| Online Access: | http://bizinfo.edu.rs/index.php/bizinfo/article/view/295 |
| _version_ | 1797846493910007808 |
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| author | Snežana Knežević Marko Milašinović Goran Džafić Tijana Obradović |
| author_facet | Snežana Knežević Marko Milašinović Goran Džafić Tijana Obradović |
| author_sort | Snežana Knežević |
| collection | DOAJ |
| description | Besides obvious negative consequences for people's health, the COVID-19 pandemic placed significant negative consequences on the economy as well. Since pandemic made tourism and travel almost impossible, these industries of tourism and hospitality suffered the most. The aim of this paper is to assess whether the onset of the COVID-19 pandemic has caused a change in the level of profitability of companies from hotel industry in the Republic of Serbia. The research sample consisted of 100 companies from hotel industry in the Republic of Serbia, where their operations in 2019 and 2020 were observed. The Operating Profit Margin, Net Profit Margin, Return on Assets and Return on Equity were used for the purposes of measuring profitability. The research determined that in the largest number of observed hotel companies in 2020, there was a decrease in profitability considering all four used indicators. By applying the Wilcoxon rank test and the t-test of paired samples, it was determined that the mentioned reductions in the used profitability indicators are statistically significant. |
| first_indexed | 2024-04-09T17:56:55Z |
| format | Article |
| id | doaj.art-85eef007cfef424292ba846aab3872eb |
| institution | Directory Open Access Journal |
| issn | 2406-2324 2217-2769 |
| language | English |
| last_indexed | 2024-04-09T17:56:55Z |
| publishDate | 2022-12-01 |
| publisher | Academy of Professional Studies South Serbia, Department of Business Studies Blace |
| record_format | Article |
| series | BizInfo |
| spelling | doaj.art-85eef007cfef424292ba846aab3872eb2023-04-14T21:51:34ZengAcademy of Professional Studies South Serbia, Department of Business Studies BlaceBizInfo2406-23242217-27692022-12-01132657110.5937/bizinfo2202065K311COVID-19 and profitability of hotel companies in the Republic of SerbiaSnežana Knežević0Marko Milašinović1Goran Džafić2Tijana Obradović3University of Belgrade, Faculty of Organizational Sciences, Belgrade, SerbiaUniversity of Kragujevac, Faculty of Hospitality and Tourism in Vrnjačka Banja, Vrnjačka Banja, Serbia Ministry of Justice of the Republic of Serbia, Belgrade, SerbiaUniversity of Belgrade, Faculty of Organizational Sciences, Belgrade, SerbiaBesides obvious negative consequences for people's health, the COVID-19 pandemic placed significant negative consequences on the economy as well. Since pandemic made tourism and travel almost impossible, these industries of tourism and hospitality suffered the most. The aim of this paper is to assess whether the onset of the COVID-19 pandemic has caused a change in the level of profitability of companies from hotel industry in the Republic of Serbia. The research sample consisted of 100 companies from hotel industry in the Republic of Serbia, where their operations in 2019 and 2020 were observed. The Operating Profit Margin, Net Profit Margin, Return on Assets and Return on Equity were used for the purposes of measuring profitability. The research determined that in the largest number of observed hotel companies in 2020, there was a decrease in profitability considering all four used indicators. By applying the Wilcoxon rank test and the t-test of paired samples, it was determined that the mentioned reductions in the used profitability indicators are statistically significant.http://bizinfo.edu.rs/index.php/bizinfo/article/view/295profitabilityhotel companiescovid-19ratio analysisrepublic of serbia |
| spellingShingle | Snežana Knežević Marko Milašinović Goran Džafić Tijana Obradović COVID-19 and profitability of hotel companies in the Republic of Serbia BizInfo profitability hotel companies covid-19 ratio analysis republic of serbia |
| title | COVID-19 and profitability of hotel companies in the Republic of Serbia |
| title_full | COVID-19 and profitability of hotel companies in the Republic of Serbia |
| title_fullStr | COVID-19 and profitability of hotel companies in the Republic of Serbia |
| title_full_unstemmed | COVID-19 and profitability of hotel companies in the Republic of Serbia |
| title_short | COVID-19 and profitability of hotel companies in the Republic of Serbia |
| title_sort | covid 19 and profitability of hotel companies in the republic of serbia |
| topic | profitability hotel companies covid-19 ratio analysis republic of serbia |
| url | http://bizinfo.edu.rs/index.php/bizinfo/article/view/295 |
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