The profitability of Italian hotels during and after the 2008 Economic Crisis.
Italy is an exclusive country in the world, comprised of a rich mix of history, art, culture and natural attractions that attract a high flow of tourists from all over the world. In Italy, in 2017, about 33,000 hotels operated,which characterize an evolving offer that tends to favour hotels with bet...
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| Format: | Article |
| Language: | English |
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AfricaJournals
2018-11-01
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| Series: | African Journal of Hospitality, Tourism and Leisure |
| Subjects: | |
| Online Access: | https://www.ajhtl.com/uploads/7/1/6/3/7163688/article_2_vol_7_6__2018.pdf |
| _version_ | 1819068740836261888 |
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| author | Guido Migliaccio, PhD |
| author_facet | Guido Migliaccio, PhD |
| author_sort | Guido Migliaccio, PhD |
| collection | DOAJ |
| description | Italy is an exclusive country in the world, comprised of a rich mix of history, art, culture and natural attractions that attract a high flow of tourists from all over the world. In Italy, in 2017, about 33,000 hotels operated,which characterize an evolving offer that tends to favour hotels with better services than in the past, also in
response to the growing competition from less expensive non-hotel businesses. This paper is dedicated to the study of income dynamics of larger Italian hotels with a turnover of over € 800,000, analyzing the ten year trend of five balance sheet indices of a significant sample of companies. The results show that the
international economic crisis has reduced profitability immensely, especially in 2009, but also that the reaction of companies has allowed restructuring that facilitated a significant recovery in the following years. In particular, the analysis showed a greater profit on sales and a lower incidence of extra-management costs,
presumably resulting from lower passive interests. |
| first_indexed | 2024-12-21T16:38:57Z |
| format | Article |
| id | doaj.art-8914564073ad43659a1c57746ae67f07 |
| institution | Directory Open Access Journal |
| issn | 2223-814X |
| language | English |
| last_indexed | 2024-12-21T16:38:57Z |
| publishDate | 2018-11-01 |
| publisher | AfricaJournals |
| record_format | Article |
| series | African Journal of Hospitality, Tourism and Leisure |
| spelling | doaj.art-8914564073ad43659a1c57746ae67f072022-12-21T18:57:09ZengAfricaJournalsAfrican Journal of Hospitality, Tourism and Leisure2223-814X2018-11-0176The profitability of Italian hotels during and after the 2008 Economic Crisis.Guido Migliaccio, PhD0Department of Law, Economics, Management and Quantitative Methods University of Sannio, Benevento, ItalyItaly is an exclusive country in the world, comprised of a rich mix of history, art, culture and natural attractions that attract a high flow of tourists from all over the world. In Italy, in 2017, about 33,000 hotels operated,which characterize an evolving offer that tends to favour hotels with better services than in the past, also in response to the growing competition from less expensive non-hotel businesses. This paper is dedicated to the study of income dynamics of larger Italian hotels with a turnover of over € 800,000, analyzing the ten year trend of five balance sheet indices of a significant sample of companies. The results show that the international economic crisis has reduced profitability immensely, especially in 2009, but also that the reaction of companies has allowed restructuring that facilitated a significant recovery in the following years. In particular, the analysis showed a greater profit on sales and a lower incidence of extra-management costs, presumably resulting from lower passive interests.https://www.ajhtl.com/uploads/7/1/6/3/7163688/article_2_vol_7_6__2018.pdfHoteltourismItalyprofitability2008 Crisisprofitability ratios. |
| spellingShingle | Guido Migliaccio, PhD The profitability of Italian hotels during and after the 2008 Economic Crisis. African Journal of Hospitality, Tourism and Leisure Hotel tourism Italy profitability 2008 Crisis profitability ratios. |
| title | The profitability of Italian hotels during and after the 2008 Economic Crisis. |
| title_full | The profitability of Italian hotels during and after the 2008 Economic Crisis. |
| title_fullStr | The profitability of Italian hotels during and after the 2008 Economic Crisis. |
| title_full_unstemmed | The profitability of Italian hotels during and after the 2008 Economic Crisis. |
| title_short | The profitability of Italian hotels during and after the 2008 Economic Crisis. |
| title_sort | profitability of italian hotels during and after the 2008 economic crisis |
| topic | Hotel tourism Italy profitability 2008 Crisis profitability ratios. |
| url | https://www.ajhtl.com/uploads/7/1/6/3/7163688/article_2_vol_7_6__2018.pdf |
| work_keys_str_mv | AT guidomigliacciophd theprofitabilityofitalianhotelsduringandafterthe2008economiccrisis AT guidomigliacciophd profitabilityofitalianhotelsduringandafterthe2008economiccrisis |