Greek Hotel Sector Research Articles

Investment and depreciation tax shield under spatial competition: The case of the Greek hotel sector

Studies examining the effects of spatial competition spillovers on hospitality firms’ decision-making process have been steadily gaining traction. Using a sample of 508 Greek hotels and a Spatial Autoregressive Model (SAR), we examine the consequences of a change in tax depreciation provisions on investment. We find that a reduction in depreciation rates has a negative impact on hospitality firms’ investment decisions, with an additional, reverse effect arising from spillovers of this reduction’s effects on competitors.

Transformational leadership and HRM: study shows influence on employee productivity in the Greek hotel sector during the Covid19 pandemic

PurposeThis paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approachThis briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.FindingsA study revealed the mechanism through which Transformational Leadership (TFL) impacts employee productivity: The authors said TFL first impacts employee “trust” towards managers, helping to create a “social climate” that directly impacts work engagement. Employees respond by increasing their productivity and showing “extra-role customer service” behaviour.Originality/valueThe briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Exploring the factors influencing energy efficiency in the Greek hotel sector

The current paper aims at enhancing the existing literature of studies discussing the parameters, which formulate the phenomenon of the energy efficiency gap in hotels. Specifically, the obtained outcomes, as resulted by the conduction of a stated preference survey are presented and discussed. The survey was carried out on a representative sample of hotels in Greece in the context of the “Consumer Energy Efficiency Decision making (CONSEED)” project. Emphasis was given on various issues related to the energy efficiency gap, such as the impact of EU labelling scheme, the linkage of the pro-environmental behaviour with the willingness to invest in more energy-efficient technologies and equipment, the lack of information about electricity prices and the imperfect understanding of energy operating costs. The findings of the survey can be used to explain the role of the behaviour in the decision-making procedures for the further promotion of energy efficiency. Theoretical models can be developed with the collected data to examine the energy efficiency gap phenomenon and to quantify the contribution of different factors to its formulation including the calculation of the implicit discount rate. Finally, the design of more effective policies can be supported with the findings of the paper maximizing the private and social benefits, which are associated with the purchase of energy-efficient technologies and equipment in the hotel sector.

Energy and Environmental Performance of Solar Thermal Systems in Hotel Buildings

The energy policies in Europe include the reduction in energy consumption of buildings along with their environmental impact, focusing mainly on CO2 emissions. In this framework, solar thermal systems used for space heating purposes and Domestic Hot Water production will be studied in detail. Solar thermal systems are one of the most popular ways to provide sanitary hot water in hotel buildings, all over the world and in particular in the Mediterranean. This is due to the fact that over the last forty years they have been proven to be reliable and cost effective.Still, there is more to those systems, than cost efficiency, as it will be discussed in this paper, based on a study carried out for the Greek hotel sector. The analysis of the solar thermal system was done on the basis of technical characteristics and their energy efficiency as well as of the potential energy saving and their environmental impact, focusing mainly on CO2 emissions. The environmental evaluation of the system studied is expressed by means of an integrated environmental approach, based on environmental rating systems namely LEED and BREEAM.Goal of the paper is to present the result of the overall evaluation of the solar thermal system and its contribution to the improvement of the building's energy and environmental performance and also discuss how this affects the building's respective certification.

Service innovation strategies in Greek hotel sector: an exploratory study using the statistical method of multidimensional analysis

This study aims to gain insight into criteria detailed market study, business/financial analysis, business/financial analysis before promotion, resource allocation that contribute to the success of new service development NSD ventures in sectors of tourism economy and focusing especially on the hospitality sector. A second level analysis based on in-depth structured interviews data collected from hotel CEOs is presented. Collected data refer to NSD processes as implemented in their organisations. Correspondence analysis is being used to analyse exploratory study's results. The presentation layer of the analysis is given in the form of factorial axes and their functions. In conclusion, this study identifies service innovation strategies for hotels to gain competitive advantage. Due to the lack of capitalised knowledge on the pathways of new service development, such projects are prone to high failure rates.

Resources and capabilities as drivers of hotel environmental marketing strategy: Implications for competitive advantage and performance

Building on the resource-based view, we develop a model of drivers and outcomes of environmentally friendly marketing strategies in the Greek hotel sector. Data collected from 152 hotels reveal that possessing sufficient physical and financial resources is instrumental in achieving effective green marketing strategies. In addition, shared vision and technology sensing/response capabilities help develop a sound environmentally friendly marketing strategy. In turn, the adoption of such a strategy is conducive to obtaining competitive advantage, which subsequently increases the potential to achieve superior market and financial performance. Furthermore, the study finds that the effect of environmental marketing strategy on competitive advantage is stronger in the case of intense competitive situations, while market dynamism has no moderating effect on this association. Several implications can be drawn from the study findings for both corporate and public policy makers and interesting directions for future research are provided.

Activity-Based Costing in the Hospitality Industry: Evidence From Greece

The purpose of this article is to provide some empirical evidence of the current general trends regarding the practical consideration, adoption, and use of activity-based costing (ABC) in the hospitality industry. To this end, a survey was conducted with 85 firms of the Greek hotel sector with the use of questionnaires. Results showed that the adoption rate of an ABC system could be considered rather satisfactory. For the hotels that have adopted ABC, the survey showed that they apply it throughout all the core areas of management accounting, especially in pricing decisions and customer’s profitability analysis. The nonusers reported that the main reason for rejecting it is the satisfaction of the existing cost accounting system and the high cost of an ABC implementation.

Energy and exergy analysis of the Greek hotel sector: An application

Energy consumption in buildings vary significantly, depending on factors as the use of the building, the construction type, maintenance, existing heating, cooling and lighting systems and other types of services. Hotel buildings have high energy consumption rate, as a result of their unique operational characteristics. Energy consumption in hotels is among the highest in the non-residential building sector in absolute values. Available specific information on the energy characteristics, thermal performance, energy losses, electric loads, and comfort conditions play significant role for the sustainable development of hotel's systems. These data can also be used to identify whether there is space for improvement in new or existing hotels by comparing them against predicted or actual building energy performance. The aim of the present paper is to analyze the energy and exergy utilization in four hotels in Rethimno, Crete (Southern Greece) and in Kassandra, Halkidiki (Northern Greece).

New Service Development: Preliminary Findings on Process Development and Assessment from the Greek Hotels

Despite the competitive necessity of New Service Development (NSD), research into NSD and specifically within hospitality is scant. As tourists are becoming more sophisticated and less loyal, hotels need to continuously innovate to address the dynamically changing tourists’ demands and the fierce competition. This study aims to explore the level, type and processes of NSD efforts that Greek hotels undertake for creating, assessing and further improving their NSD practices. To achieve that, literature on NSD is critically reviewed and expanded. Data from the Greek hotel sector revealed not only that hotels need to substantially increase their NSD activities, but findings also confirmed the fact that, in contrast to manufacturing, NSD in services should consider the ad hoc nature of processes in service development as well as the role and participation of guests and other stakeholders in NS processes.

Financing Tourist Development through Stock Capital: Evidence from the Greek Hotel Sector

As an economic and social activity, tourism can be one of the most important factors in the development of a country. This paper uses the study of business events to investigate the success of financing the tourist sector through stock capital, especially the accommodation sector. The research focuses on five large tourist enterprises and the ‘events’ analysed are announcements about financial results. The study identifies and forecasts the way in which stock returns generally react to tourist sector announcements, such as the dissemination of annual, semi-annual and quarterly financial reports. The empirical evidence indicates that annual reports have a positive impact on stock returns. The authors suggest that the Athens Stock Exchange (ASE) provides an alternative opportunity for tourism companies to raise capital and to extend their development plans.