Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison
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...
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| Format: | Article |
| Language: | English |
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University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka Banja
2022-06-01
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| Series: | Mенаџмент у хотелијерству и туризму |
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| Online Access: | https://htmanagementvb.com/index.php/HITM/article/view/230 |
| _version_ | 1797794924991610880 |
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| author | Zoran Temelkov |
| author_facet | Zoran Temelkov |
| author_sort | Zoran Temelkov |
| collection | DOAJ |
| description |
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.
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| first_indexed | 2024-03-13T03:10:05Z |
| format | Article |
| id | doaj.art-a6bed4e2c359499f894c419a0e54aa62 |
| institution | Directory Open Access Journal |
| issn | 2620-0279 2620-0481 |
| language | English |
| last_indexed | 2024-03-13T03:10:05Z |
| publishDate | 2022-06-01 |
| 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-a6bed4e2c359499f894c419a0e54aa622023-06-26T14:42:59ZengUniversity of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka BanjaMенаџмент у хотелијерству и туризму2620-02792620-04812022-06-0110110.5937/menhottur2201041TFinancial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparisonZoran Temelkov0Goce Delčev University of Štip, Faculty of Tourism and Business Logistics, Štip, North Macedonia 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. https://htmanagementvb.com/index.php/HITM/article/view/230financial performanceCOVID-19pandemichotelhotel revenues |
| spellingShingle | Zoran Temelkov Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison Mенаџмент у хотелијерству и туризму financial performance COVID-19 pandemic hotel hotel revenues |
| title | Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison |
| title_full | Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison |
| title_fullStr | Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison |
| title_full_unstemmed | Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison |
| title_short | Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison |
| title_sort | financial performance of selected hotel groups and resorts during covid 19 pandemic 2019 2020 comparison |
| topic | financial performance COVID-19 pandemic hotel hotel revenues |
| url | https://htmanagementvb.com/index.php/HITM/article/view/230 |
| work_keys_str_mv | AT zorantemelkov financialperformanceofselectedhotelgroupsandresortsduringcovid19pandemic20192020comparison |