Hotel Firms Research Articles

Analysis of knowledge tacitness in the transfer of food and beverage practices: Evidence from new c

Knowledge is a valuable resource that can provide a firm competitive advantages. Food and beverage practices require the existence of knowledge to effectively perform the activities in this key department for many hotels. When hotel firms grow by integrating new hotels in the organizational structure, managers usually want to transfer the knowledge underlying the key practices. However, the transfer is affected by the level of knowledge tacitness, since this characteristic is considered to render the transfer more difficult. With data from 93 new chain hotels where FB the preferred method for F&B customer service is training courses, lectures and seminars. Moreover, the tacitness of knowledge about F&B customer service negatively affects the knowledge transfer process in several success dimensions.

High performance work system and performance: Opening the black box through the organizational ambidexterity and human resource flexibility

This paper contributes to the growing research about Human Resource Management (HRM) by examining the interrelationships between High Performance Work System (HPWS) and their effects on firm performance in the hotel industry. Recent studies stress the need to delve deeper into this link considering the role that may be played by certain dynamic capabilities as mediating variables (Patel, Messersmith, & Lepak, 2013; Prieto-Pastor & Martin-Perez, 2014).The current study proposes a multiple mediating model and tests the mediation. More specifically, this research establishes that human resource flexibility (HRF) and organizational ambidexterity (OA) play a mediating role in the HPWS-performance relationship.A variance-based structural equation modeling (Partial Least Squares) has been applied to a sample of Spanish hotel firms. The results obtained support the mediation hypotheses according to which HRF and OA play a critical mediating role in the HPWS-performance relationship.

The Effects of Institutional Holdings and State Ownership on Hotel Firm Performance in China

ABSTRACTThis article examines the effects of institutional holdings and state ownership on hotel firm performance in China by employing panel regression analysis. The results show that institutional holdings as a whole and domestic institutional holdings have different effects on the performance of Chinese hotel firms. There is an inverted U-shaped relationship between institutional holdings/domestic institutional holdings and hotel performance measured by Tobin’s Q, and an upright U-shaped relationship between domestic institutional holdings and return on assets/return on equity. However, the level of foreign institutional holdings was found to have no significant impact on hotel firm performance in China. Finally, state ownership has a negative impact on Tobin’s Q. Implications for the Chinese hotel industry are discussed.

The Impact of Abusive Supervision Behavior on Emotional Exhaustion and Deviant Workplace Behavior in Hotel Firms: The moderating effect of emotional exhaustion and mediating effect of emotional intelligence

The Impact of Abusive Supervision Behavior on Emotional Exhaustion and Deviant Workplace Behavior in Hotel Firms: The moderating effect of emotional exhaustion and mediating effect of emotional intelligence

호텔기업 환경전략이 조직충성도에 미치는 영향 : 조직신뢰의 매개효과

This study tried to verify the influence how the environmental strategies affect on the organizational trusts and the organizational loyalties. And how the organizational trusts affect on organizational loyalties. These are essential factors for the employees in the hotel firms to improve job performance, increase firm’s revenue and create firm’s growth. Also, the practical analysis has been done by employees in the hotel firms located in Seoul. The practical analysis has been done to cross-check how to affect mediating effects of organizational trusts on the relationship between environmental strategies and organizational loyalties. The results of the practical analysis discovered that the environmental strategies make an influence on the organizational trusts and the organizational loyalties. And the organizational trusts make an influence on the organizational loyalties. And also, the organizational trusts affect mediating effects on the relationship between environmental strategies and organizational loyalties. The ultimate results of this study brings up the new direction in ways the management of environmental strategy on the organization management in the hotel firms.

The Impact of Customer Value on Customer Satisfaction and Customer Loyalty in Hotel Firms - The Moderating Effect of Switching Cost and Mediating Effect of Customer Satisfaction -

The Impact of Customer Value on Customer Satisfaction and Customer Loyalty in Hotel Firms - The Moderating Effect of Switching Cost and Mediating Effect of Customer Satisfaction -

The Impact of Customer Value on Customer Satisfaction and Customer Loyalty in Hotel Firms

본 연구에서는 온라인 구전정보의 특성을 파악한 후 구전정보의 특성이 소비자가 지각하는 온라인 구전정보의 위험과 구전확산에 미치는 영향관계를 검증하고, 호텔 레스토랑에 대한 온라인 구전정보 특성과 구전확산의 관계에서 고객이 지각한 온라인 구전정보에 대한 위험의 매개효과를 검증하고자 한다. 본 연구의 설문에 대한 표본은 서울시내에 소재한 10개의 특급호텔 레스토랑 방문 고객 중 최근 각 호텔 레스토랑에 대한 온라인 구전정보를 검색 후 온라인 상품을 구매한 고객을 대상으로 하였다. 설문조사기간은 2017년 3월 5일부터 약 2주간 실시하였으며, 총 270부의 설문지를 배포하여 251부의 설문지가 회수되었고 이 중 응답에 일관성이 없거나 불성실하다고 판단되는 설문지 17부를 제외하고 234부의 설문지가 최종분석에 사용되었다. 본 연구의 가설검증결과는 다음과 같다. 첫째, 온라인 구전정보 특성의 동의성, 생동감, 중립성은 지각위험에 모두 유의한 부(-)의 영향을 미치는 것으로 나타났다. 둘째, 온라인 구전정보 특성의 동의성, 생동감, 중립성은 구전확산에 모두 유의한 정(+)의 영향을 미치는 것으로 나타났다. 셋째, 소비자가 지각한 온라인 구전정보 특성의 위험은 구전확산에 유의한 부(-)의 영향을 미치는 것으로 나타났다. 마지막으로 온라인 구전정보 특성과 구전확산의 관계에서 지각위험의 매개효과를 검증한 결과 매개변수인 지각위험을 투입했을 때 영향정도(β값)가 2단계에 비하여 동의성, 생동감, 중립성 모두 감소하여 지각위험은 온라인 구전정보 특성과 구전확산의 관계에서 부분적인 매개효과를 나타내고 있는 것으로 판단할 수 있다. 이는 온라인 구전정보 특성인 동의성, 생동감, 중립성은 구전확산에 직접적인 영향을 미치는 중요한 요인이기도 하지만 소비자가 지각하는 위험의 정도에 따라 구전확산에 간접적으로도 영향을 미칠 수 있음을 의미한다.

Under- vs over-investment: hotel firms’ value around acquisitions

PurposeThe purpose of this study is to analyze the extent to which under- and over-investment problems affect hotel firms’ value around the time when acquisitions are announced.Design/methodology/approachHotel firms are classified based on their financial constraints (under-investment), corporate governance mechanisms (over-investment) and organizational structures. Multivariate analyses are conducted utilizing the panel ordinary least squares regression to examine the effects of financial constraints, corporate governance mechanisms and organizational structures on acquisition returns.FindingsThe results show that financial constraints have a larger effect on the firm value compared to the effect of corporate governance. Also, acquisitions are viewed as over-investments in poorly governed, franchising and hotel-real estate investment trust (REIT) firms.Research limitations/implicationsThe analyses are limited to gains from acquisitions in the hotel industry. Therefore, future studies may examine the effects of capital expenditures and cash holdings on hotel firm value.Practical implicationsAcquisitions could help financially constrained firms reduce informational asymmetries. Firms could expand through franchising when they are financially constrained. However, franchising firms should take restrictive actions to control managers from making acquisitions. The hotel-REIT organizational form does not seem to cause under-investment problems, and it functions as an additional corporate governance mechanism.Originality/valueIn addition to the C-corporation organizational structure, hotel firms extensively adopt REIT and expand through franchising, which might affect under- and over-investment problems. Nonetheless, little is known about whether capital investments create or reduce value for hotel firms. This study helps to explain how financial constraints, corporate governance mechanisms and organizational structures affect hotel firms’ value.

Components of the menu planning process: the case of five star hotels in Antalya

PurposeThe purpose of this paper is to understand how chefs working at five star hotels perceive the menu planning process.Design/methodology/approachCase studies were used to deeply investigate the menu planning process of five star hotels. Data were drawn from in situ interviews and documentation, which were examined via content analysis. After the coding process, themes and categories were extracted and corroborated by direct quotations.FindingsThe findings revealed that the menu planning process can be classified into five major categories. The first category consists of the prerequisites of planning a menu. The second category is “key issues” and encapsulates the managerial, consumer, gastronomic, marketing and external aspects of menu planning. The third category highlights key actors’ responsibilities in the menu planning process, while the fourth category, “trial and improvement,” elaborates on the iterative process of menu design and the key players and issues involved with it. Finally, the last category outlines the difficulties of menu planning.Originality/valueIn the existing academic literature, most research conducted about menu planning only provides conceptual framework while empirical information remains unexamined. However, this qualitative study aims to clarify the components of menu planning in more detail in terms of five star hotel firms that offer various food and beverage operations. The present study is an attempt to fill a gap in the existing literature on the subject.

Family involvement and hotel online reputation

Online reputation is nowadays particularly significant in the context of hotel firms due to the high sensitivity and enormous influence of electronic word-of-mouth activities of customers. Since there is still no clear set of online reputation-generating factors, the aim of this paper is to contribute to this knowledge considering the role of family governance as an antecedent of hotel online reputation. Specifically, our purpose is to explain whether the heterogeneity among family firms regarding their family influence on the business exerts a significant effect on online reputation of hotel firms, investigating how family ownership and family management dimensions interact in terms of influencing online reputation. Our findings, based on a sample of 157 Spanish family hotels, indicate a positive influence of family ownership on a hotel's online reputation, augmented by a positive moderating effect of the family management represented by the presence of a family CEO managing the hotel.

The value of cash holdings in hotel firms

Extant research in finance suggests asymmetric information increases the cost of external financing substantially and creates underinvestment problems. While franchising might reduce underinvestment problems, it might exacerbate overinvestment problems in poorly-governed firms. Using combined postulations from both the pecking order theory and the free cash flow theory, this study examines the value of cash holdings in hotel firms and the extent to which franchising, financial constraints, and corporate governance affect this value. The findings suggest that cash can be a curse and a blessing; cash is more valuable for financially constrained firms than for unconstrained firms and less valuable for poorly-governed firms than for well-governed firms. Also, financial constraints have a greater effect on the value of cash holdings than weak corporate governance. Although franchising could solve underinvestment problems, it makes poorly-governed firms more vulnerable to overinvestment. Practical and theoretical implications are discussed within realms of corporate finance and franchising.

Hospitality REITs and financial crisis: a comprehensive assessment of market quality

PurposeThe purpose of this paper is to examine market microstructure differences in stock market quality for hospitality real estate investment trusts (REITs) during the pre- and post-financial crisis eras. It provides insight on different trading strategies based on the underlying liquidity and volatility of hospitality REITs as compared traditional REITs and the broader market.Design/methodology/approachThe paper uses established microstructure measures for liquidity, trading volumes and risk assessment and compares daily and intraday trading patterns of REITs, hospitality REITs and the broad market.FindingsThe results suggest a quicker recovery of performance for hospitality REITs and some fundamental increases in liquidity measures post-crisis. The results of the study highlight the differences in trading volumes, liquidity and risk profile of hospitality REITs compared to traditional REITs both in the pre- and post-financial crisis periods.Practical implicationsThe quicker recovery of hospitality REITs in key trading measures may suggest flight to quality during periods of high volatility.Originality/valueThis study fills the gap in the literature relative to microstructure studies and provides information to help hotel firms and portfolio managers choose an appropriate organizational structure and investment vehicle, respectively.

Tourist districts and internationalization of hotel firms

The present paper brings together two lines of research that the literature has more often than not studied separately: the generation of externalities in industrial districts; and the international strategy based on location advantages. The application of industrial district approach principles serves to identify the tourist holiday districts situated along the Spanish coastline. This is followed by an analysis of the extent to which the degree of firm agglomeration specific to each district, as well as the presence of institutions generating specific technical knowledge, influence the globalization of the tourism sector, both regarding internationalized Spanish hotel chains and foreign hotels installed in Spain.

Investment and Firm Value: Is There an Optimal Investment Level in Hotel Firms?

ABSTRACTThis study aimed to examine whether an optimal investment level exists in hotel firms. The authors examined the quadratic relation between investments and hotel firm value. The results show that there is an optimal investment level that maximizes firm value. However, the optimal investment level varies across firms on the basis of the quality of investment opportunities or under- and overinvestment problems. The optimal investment level is higher for hotel firms with underinvestment problems, which suggests that these firms have valuable investment opportunities. However, the optimal investment level is lower for hotel firms with overinvestment problems, which implies that shareholders of these firms perceive additional investments to be value destroying. These results support the postulations of the Q theory of investment, pecking order theory, and free cash flow theory. Practical implications are discussed in the realm of financing, investment, and dividend policies.

Customer Relationship Management (CRM) Practices towards Customer Brand Engagement: Evidence from the Hotel Industry in Sri Lanka

Customer Relationship Management (CRM) practices and its effects on Customer Brand Engagement (CBE) are an emerging trend in many industries including the hotel industry. Therefore, the main objective of this study is to examine whether there is a relationship between customer relationship management practices and customer brand engagement in the Sri Lanka hotel firms. The population is senior and middle managers of the hotel industry with a sample comprised of 183 managers. The data was gathered using a structured questionnaire and analyzed using Structural Equation Modeling (SEM) techniques. The key findings of the study showed that customer relationship management practices are significantly related to customer brand engagement in hotel industry of Sri Lanka and consequently, customer relationship management can be utilized as a tool to enhance customer brand engagement in the hotel firms in Sri Lanka. The findings further depict managerial implications and opportunities for future research in the same area.

호텔 레스토랑 브랜드이미지와 브랜드신뢰가 재구매의도에 미치는 영향 : 서비스품질의 매개효과

This study tried to verify the influence how the brand images and brand trusts affect on the service quality and the repurchase intentions. And how the service quality affect on repurchase intentions. These are essential factors for the customers to evaluate service in experience to the hotel restaurants and retaining customers on the managerial perspective. Also, the practical analysis has been done by customers who had ever used hotel restaurants located in Seoul to cross-check how to affect mediating effects of service quality on the relationship between brand images, brand trusts and repurchase intentions. In total, 300 questionnaires were distributed and 274 valid and complete questionnairs were collected for empirical data analysis. The data collected was analyzed utilizing SPSS 18.0 to identify the role of service quality as a mediator. The results of the practical analysis discovered that the brand images, brand trusts and the service quality make an influence on repurchase intentions and the service quality affect mediating effects on the relationship between brand images, brand trusts and repurchase intentions. The results of this analysis suggest that brand image and brand trust in the hotel restaurant may have a direct impact on the road to repurchase, but this is a result of providing a new implication that the quality of service leads to repurchase. The ultimate results of this study brings up the new direction in ways the management of marketing strategy management in the hotel firms.

Identification of growth factors for small firms: evidence from hotel companies on an island

PurposeThe purpose of this paper is to mainly investigate what factors drive growth for independent hotel firms on an island.Design/methodology/approachTwo steps were followed. First, to identify hotels demonstrated significant growth; 92 independent hotels in North Cyprus were analyzed via a self-report questionnaire. Second, key growth factors were examined in five hotels showing the growth over years among the independent hotels via in-depth, semi-structured interviews, focus group interviews, and observations.FindingsThe study findings revealed 16 important growth factors for hotels, including active risk taking, education, family history, networks of contacts, other business interests, family investing friends, key employee partners, customer concentration, autonomy, innovativeness, proactiveness, competitive aggressiveness, location, desire to succeed, age of founders, and state support where are strong, weak, and interrelated relationships among these factors. These findings allow factors to be categorized into new groups, namely, strategic and tactical factors. The research findings unveil new factors referred to as “political conflict – pursuing different strategy and opportunities,” importance of second generations affect and entrepreneur’s metacognitive strategies, “informal networking.”Research limitations/implicationsMore research should also be undertaken for entrepreneurs or managers who formulate and implement strategies to enter new markets or to tackle turbulent and/or unstable environments.Practical implicationsThis study reveals that one factor on its own cannot influence the growth of hotels. Rather, successful growth depends on the entrepreneur’s ability to combine all factors in harmony.Originality/valueGiven that there is limited empirical evidence on the growth of independent hotels on islands, this study made an important attempt to contribute to the entrepreneurship literature in the hospitality management and family business fields via micro-level approaches concerning the factors influencing hotels’ growth on an island. This is one of the first studies presenting and discussing empirical findings on growth factors for small hotels on an island, and brings a new perspective by grouping factors as strategic and tactical factors.

Moderating the impact of e-commerce expenses on financial performance in US upper upscale hotels

The heavily fragmented hotel industry, embracing the changes in their guests’ use of electronic devices, has spent considerable resources to incorporate electronic commerce (e-commerce) practices. The extant literature offers inconclusive findings with regard to the effect of e-commerce on firm performance, especially when firm size is considered. Given the high fragmentation of size in the hotel industry, understanding its role in the deployment of e-commerce could result in substantial benefits for both hotel firms and consumers. Using the financial performance of 689 observations of over 110 hotels during 2007–2012, this study finds that e-commerce expenses positively impact firm performance, and that firm size moderates the relationship between e-commerce expenses and firm performance.

Firm-specific factors and entry mode choice

The Chinese hotel sector has experienced spectacular growth in recent years. Furthermore, it is expected that Chinese hotel chains will increase their presence abroad in the future. One of the key decisions in the internationalization process of hotel firms is the choice of entry mode into a foreign country. Many different factors influence this strategic decision. From a sample of 185 entries carried out by the largest Chinese hotel firms, this study analyses some of the main firm factors that might influence entry mode choice. The results support the relationship between the entry mode of Chinese hotel chains and firm size, previous international experience and asset intangibility.

Is hotel efficiency necessary for tourism destination competitiveness? An integrated approach

This study investigates the relationship between tourism destination competitiveness and the competitiveness of international hotel firms using an integrated approach based on Porter (1990). A mediation model is employed to link destination competitiveness, efficiency and firm competitiveness. Global technical efficiency, pure technical efficiency and scale efficiency are estimated through data envelopment analysis techniques. The results confirm a positive relationship between destination competitiveness and firm competitiveness, but efficiency does not play a mediating role linking both.