Main Competitive Factors in European Hotel SMEs

Abstract

This study aims to analyse the current state of the art regarding the competitiveness factors of small and medium-sized hotel companies, applying a systematic and international literary review focusing on Europe. This study opted for a systematic review involving the analysis of documents, articles, dissertations, and international academic works that presented theoretical and empirical research results. The research was conducted from January to May 2021 using online databases and search engines. The selected studies focus on finance, innovation and marketing as the main factors that generate competitiveness in hotel SMEs. Most have been published in European countries since 2014. Some characteristics coincide with various geographical contexts, such as the importance of profitability and financing, the use of financial information, product and process innovation, market positioning, knowledge of the competition and customer satisfaction. Some implications for Europe are also analysed.