Determinants of success in hotel industry: Case study of the Republic of Serbia

Ekonomija teorija i praksa Pub Date : 2023-01-01 DOI:10.5937/etp2302151p

Miroslav Pimić, Zlatomir Marković, Goran Dinić, Nikola Radivojević

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Abstract

The paper examines the influence of the key determinants of success in hotel industry in the Republic of Serbia. The research was conducted for the period from 2015 to 2020 on a sample of 23 hotels. The chosen length of the observation period covers a sufficient time interval to cover all heterogeneities in the structure of the observation units, as well as their changes over time, using the dynamic panel analysis model. The adequate sample size was determined by considering the size of the population, the desired level of confidence, and the value of the allowable sampling error. The results of the research have shown that determinants such as business success from the previous period, efficiency of use of total business assets, belonging to a hotel chain, size and increasing hotel concentration index have a positive impact on success in hotel industry. On the other hand, determinants such as hotel indebtedness, operating leverage and hotel age have a negative impact on business success. Determinants such as the quality of environmental protection management and socially responsible hotel business do not have a significant impact on success in hotel industry in the Republic of Serbia.

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酒店业成功的决定因素:塞尔维亚共和国的案例研究

本文考察了塞尔维亚共和国酒店行业成功的关键决定因素的影响。该研究是在2015年至2020年期间对23家酒店的样本进行的。使用动态面板分析模型，所选择的观察期长度涵盖了足够的时间间隔，以涵盖观测单元结构的所有异质性及其随时间的变化。适当的样本量是通过考虑总体的大小、期望的置信水平和允许的抽样误差值来确定的。研究结果表明，前一时期的商业成功、总商业资产的使用效率、属于连锁酒店、规模和不断增加的酒店集中度指数等决定因素对酒店业的成功有积极的影响。另一方面，酒店负债、经营杠杆和酒店经营年限等决定因素对商业成功有负面影响。诸如环境保护管理质量和对社会负责的酒店业务等决定因素对塞尔维亚共和国酒店业的成功没有重大影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Ekonomija teorija i praksa

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审稿时长

12 weeks