Tourism Companies Research Articles

Predicting Financial Distress Using DEA and Multivariate Discriminant for Tourism, Restaurant, and Hotel Sector in Indonesia

Financial distress is a condition in which a company experiences decline and difficulty to fulfil its financial obligations. Financial distress prediction aims to identify early warning indicators of impending financial disaster so businesses can begin financial reconstruction at the appropriate moment. This study aims to compare the statistically significant difference results of various financial prediction models and the level of accuracy of each model in 25 companies engaged in the hotel, restaurant, and tourism sectors in 2018-2021. By using Kruskal-Wallis Test, Mann-Whitney Post Hoc Test, and accuracy test to compare each model. The results of this study are based on the Kruskal-Wallis test, all models used are statistically significant differences. Meanwhile, when paired using the Mann-Whitney Post-Hoc Test, it was found that the Springate and Grover models did not have a statistically significant difference. In addition, the results of the test accuracy show that the DEA accuracy rate of 79%, and the Springate model with the lowest accuracy of 33%. The results interpret that each model has its own indicator for predicting financial distress. It is recommended in examining the financial distress of hotel, restaurant, and tourism companies using DEA model since it results in the highest accuracy rate. Keywords: DEA, financial distress, multivariate discriminant analysis

Translating responsible leadership into team customer relationship performance in the tourism context: the role of collective job crafting

PurposeThis study aims to unravel the role of teams’ job crafting in translating responsible leadership into their customer relationship performance.Design/methodology/approachThe data were gathered from 87 managers and 608 employees from tour companies. The data analysis was performed via multilevel structural equation modeling.FindingsThe results demonstrated that crafting of team tasks played a mediating role for the link of responsible leadership to the team’s customer relationship performance. Task interdependence, outcome interdependence and their interaction attenuated the influence of responsible leadership on collective job crafting.Practical implicationsThe results suggest that tourism managers can enhance customer relationship performance of their team through training and development of responsible leadership, encouraging team members’ crafting of team tasks, as well as enhancing outcome and task interdependence.Originality/valueThis research expands the literature by identifying how and when responsible leadership promotes team customer relationship performance in tourism companies.

The Relationship between Transformation Leadership, Job Satisfaction and Employee Motivation in the Tourism Industry

The objective of this study is to investigate the relationship between transformation leadership, job satisfaction, and employee motivation in the Vietnam tourism industry (VTI). In the study, data were collected from 207 respondents from different organizations related to the tourism industry, then partial least squares structural equation modeling (PLS-SEM) was employed for the analysis. The findings indicate that the paths between inspirational communication, personal recognition, supportive leadership, vision, and job satisfaction are highly significant. However, the intellectual stimulation does not positively affect job satisfaction. In addition, the path of job satisfaction and employee motivation is significant. This research also shows that only supportive leadership has a direct positive effect on employee motivation. The findings can be used as reference for tourism company managers to consult and improve their knowledge, skills, and leadership qualities.

Do Firm Resources Affect Operating and Financial Efficiency in the COVID-19 Pandemic? Evidence from Egyptian Listed Tourism Companies

ABSTRACT The tourism sector is one of the economic sectors most affected by the COVID-19 pandemic. Accordingly, this study aims to explore the impact of this pandemic on the operational and financial performance of tourism-listed companies on the Egyptian Exchange. For that purpose, the efficiency of these companies is evaluated using DEAW and SBM-DEA models, besides investigating their determinants from internal and external resources using dynamic panel data regression. The empirical results exhibited that company resources, such as operating expenses and employee costs, negatively impact their financial and operational efficiency. While total assets did not affect the financial efficiency of companies. Also, operational and financial efficiency are positively affected by the total operating income and sales revenues during this pandemic. Interestingly, the results showed that the COVID-19 pandemic does not impact both types of efficiency for companies operating in this sector. The study provided some managerial insights and empirical evidence that may help companies, policymakers, and investors to confront the repercussions of this pandemic and aftermaths.

Role of change leadership in attaining sustainable growth and curbing poverty: A case of Pakistan tourism industry.

This study has proposed to apply change leadership as a vehicle forward for sustaining the growth of the tourism industry to eradicate poverty through the Pakistani tourism industry. Applying a mixed method approach, this article has attempted to uncover the role a change leader can play to help achieve the United Nations' sustainable development goals of poverty reduction. In this study, one of the authors interviewed stakeholders of the tourism industry to find out the major drivers of the industry and identify the leadership style that may prove to be effective in the said industry. In the next phase of the study, a survey method approach was used where different tourism companies and hotel chains were included for analysis. The study aimed to check employee's perception of change leadership and its impact on their resilience and ultimately the sustainable organization performance of companies' operationalizing in the sector with moderating impact of sustainable tourism attitude in times of a crisis. In total, 430 full-time workers in the tourism industry were contacted for a self-administered survey achieving a response rate of 83%. The findings of the study confirmed that in the presence of a change leader, the process of adaptation to sudden changing situations amidst financial crises, pandemic, and climatic change, becomes bearable and employees can cope with the work situations without pushing them to quit the industry. The study has a significant contribution toward a rapidly growing and focused industry, which can play a major role in the economy of any country leading toward job creation and poverty reduction.

Investigation of Applied Costing Systems in the Hotel Industry during the COVID-19 pandemic: Evidence of Greece

The purpose of this paper is the theoretical study and investigation of the needed cost-effective business systems to export useful conclusions on whether they apply, how, what kind and how they carry for this cost in their overall functioning and to become a mapping whether they were affected on the after Covid-19 era. Empirical research is characterized as a large extent that focuses on recording the implemented cost-effective systems from tourist (hotel) companies in Greece. Primary data was used using a questionnaire on which conclusions were based. Secondary data from the bibliographic review was also used, which formed the basis in which the theoretical approach to the subject was developed and the corresponding research methodology. The originality of the survey shows that there is no analysis of responses to such a large sample that compares if they apply, how, what kind and how they carry for this cost in their overall function and whether hotel business has been affected by Covid-19 Greece in terms of costing services and products. This survey requires the participation of hotel businesses in Greece or not a cost system, key research restrictions is the time limitation of research completion and geographic restriction in Greece. In addition, a restriction on the conduct of research was hesitant and several times the reluctance of many hotel businesses to respond to research due to confidentiality and protection of personal data.

관광기업종사원의웰니스가직무열의및조직몰입에미치는영향: 신체적 웰니스와 정신적 웰니스를 중심으로

This study was conducted to present theoretical and practical implications for the tourism MICE industry by identifying the causal relationship between wellness, job enthusiasm, and organizational commitment perceived by employees working at Busan tourism companies, and the analysis results are as follows. First, it was found that physical wellness and spiritual wellness, which are sub-factors of wellness, had a significant positive (+) effect on job enthusiasm, and hypothesis 1 was all adopted. Second, it was found that physical wellness and spiritual wellness, which are sub-factors of wellness, had a significant positive (+) effect on organizational commitment, and both hypotheses 2 were adopted. Third, hypothesis 3 was adopted as job enthusiasm was found to have a significant positive (+) effect on organizational commitment. Therefore, it is considered that it will be possible to contribute substantially to subsequent research in the tourism field through the results of this study and the implications derived.

THE ROLE OF THE GOVERNMENT OF TANJUNG PINANG TO THE REACTIVITY OF TOURISM IN THE ERA OF PANDEMIC COVID-19

This study aimed to analyze the application of health protocols to tourism activities in Tanjung Pinang City. Companies in the tourism sector, according to PHRI data (Association of Indonesian Hotels and Restaurants) for local tourism companies, there are 17 companies have approximately 10 to 15 employees. The method of this study was using the Slovin formula. The result showed that tourism employees were able to develop their abilities by attending seminars or network training to improve their abilities and increase work motivation so that the company's performance was getting better.

Fighting to lose less when closure is not an option: three-R strategies of fine-dining restaurants during the COVID-19 pandemic

ABSTRACT The COVID-19 pandemic has impacted many businesses, forcing them to either close down or suspend operation for an extended time period. Since hospitality and tourism (H&T) companies are interrelated, closure of business may cause ripple effects and negatively affect individuals, organizations, and communities. Maintaining operation is especially important for some H&T units, when they are integral parts of larger H&T operations, such as the restaurants in the integrated resorts in Macao. Fighting to lose less, therefore, becomes one of their new business objectives in this prolonged battle. This paper explores how fine-dining restaurants in the integrated resorts in Macao adjust their business and operations in a highly uncertain and unpredictable environment. The findings present a Three-R Strategy Model (Reducing, Revising, and Reviving), which differs from strategies deployed in other crisis scenarios. The paper extends the existing knowledge of crisis management, and provides H&T practitioners a practical model for dealing with prolonged crises.

Reengineering Human Resources and Entrepreneurial Learning towards Organizational Revitalization in Malaysian Travel and Tourism Companies during the COVID-19 Pandemic

The interest in the reengineering process of human resources and entrepreneurial learning contributes to enhancing the success of organizational revitalization, especially concerning corporate sustainability. This study builds a conceptual research framework and adopts the descriptive analytical approach based on the data of 239 samples from the employees working in travel and tourism companies in Malaysia. The findings indicate the existence of a statistically significant effect of human resources reengineering on various dimensions of organizational revitalization. Amongst them, pioneering/entrepreneurial learning as a moderating variable also has a significant and positive influence on organizational revitalization. The implications of this study mostly emphasize the necessity for travel and tourism companies to maintain their sustainability through reengineering human resources. In accomplishing strategic tasks for human resource development and achieving the strategic goals, these essential issues such as encouraging workers to innovate and continuously raising their awareness of entrepreneurship need to be acknowledged.

The impact of trade policy uncertainty on stock price crash risk of listed tourism companies: evidence from China

ABSTRACT This paper examines the effects of Trade Policy Uncertainty (TPU) on the listed tourism companies’ stock price crash risk. The paper addresses a potential endogeneity bias and finds that the TPU increases the stock price crash risk of the listed tourism firms within a sample of A-share listed tourism firms in China from 2002 to 2020. Besides, the influence of the TPU is more prominent in state-owned enterprises and companies with high analyst attention. It is also observed that improving internal governance mitigates the positive impact of the TPU on the stock price crash risk of listed tourism companies. Finally, it is found that the TPU increases the formation of bad company news and the hoarding of negative management news, thus increasing the risk of listed tourism companies’ stock price crashes. Possible implications of bad news formation and hoarding are also discussed.

Nostalgic Analysis of Big Data in Tourism by Business Intelligence

There are several unsuccessful IT initiatives in today's market among specialized small and medium-sized businesses due to a lack of control over the gap between the business and its goal. In other words, purchased products are not being sold, which is a regular occurrence in tourism retail businesses. These firms buy several trip packages from large corporations, which then expire because of a lack of demand, resulting in a cost rather than an investment. To address this issue, we suggest detecting flaws that restrict a firm by re-engineering processes, creating a business architecture based on emotional analysis, and allowing small and medium-sized tourist companies (SMEs) to make better decisions and evaluate data. Most people have it but don't know how to use it. In addition, a case study was conducted using a real-world corporation, comparing data before and after utilizing the suggested model to confirm the model's practicality. Business knowledge has been a critical review topic in the travel industry for more than ten years. The growth of vast amounts of information has become more noticeable. Huge information summaries cover topics like combining large amounts of information from external sources (like web content), deleting data from an information source, particularly unstructured data (like customer reviews), and gradually absorbing information, depending on the context. Company knowledge and vast information are only beginning to reach their full potential for the traveler business. The aforementioned trends are becoming increasingly important for travel companies to stay up with, given the fundamental functionality and applicability of online entertainment and item reviews in the travel sector. More advanced IT, as well as new algorithms and methodologies, particularly in the areas of online content mining and text mining, open up new application domains for business intelligence approaches that have already attracted a lot of studies.

Dynamic capabilities in the tourist companies of the Colombian Caribbean coast: Case of Cartagena de Indias

Purpose: This article aims to characterize factors of dynamic capabilities and analyze the relationship between them. The case study is particularized for the tourism sector. Design / methodology / approach: This study has a quantitative approach. Data collection was carried out through a questionnaire applied to a sample of 136 tourism companies on the Colombian Caribbean Coast, specifically in Cartagena de Indias. For the explanation and interpretation of the information collected, multivariate factorial analysis and the Chi-square association test were used. Findings: This research reveals the association and identification of the dynamic capabilities of innovation, adaptation and absorption with the positive behavior of companies in the tourism sector of the Colombian Caribbean (Cartagena de Indias), thus becoming sources for the optimization of strategic actions that make it possible to take advantage of opportunities and mitigate threats from the dynamic environment. In addition, if these capabilities are combined with each other, they become platforms for the development of new competitive advantages, giving rise to a new dynamic capability: the systemic one. Limitations / implications: The study only covers companies in a specific sector and geographic location. Future studies should extend the analysis to other industries and territories. Practical implications: From a management perspective, it is suggested that those responsible for making decisions in tourism companies articulately implement dynamic capabilities for the development of competitive advantages and the use of their resources. Originality / value: One of the main contributions of the research is the identification of the systemic capacity for the academic literature of the dynamic capabilities.

Diversification of tourism through cultural routes in Manglaralto county, in the province of Santa Elena

<p>The work was carried out in the Manglaralto parish in the province of Santa Elena, with the objective of generating new cultural tourism routes within the framework of sustainability and diversification of Santa Elena’s offer, as an alternative to complement the positioning of sun and beach tourism affected by the COVID-19 pandemic. The methodology implemented is based on the georeferencing and mapping of resources throughout the parish, supported by the ArcGis program, and then ranking them by applying the nine evaluation criteria established by the Ministry of Tourism of Ecuador. As a result, 163 attractions were evaluated, which were used to propose the design of three cultural tourism routes, proposals that were socialized with local authorities, the Manglaralto Parish Government, the Santa Elena Municipal Tourism Company and Tourism Management and Promotion Office in the province.</p><p> </p>

Innovative strategies to tackle post-Covid-19 tourism: case of small tourism companies

PurposeThe Covid-19 pandemic adversely affected the tourism industry. The highly contagious coronavirus-19 has brought the whole industry to its knees, initiating catastrophic effects in terms of loss of jobs and revenue. The purpose of this qualitative study is to identify the innovative coping strategies adopted by small tourism companies (STCs) to revive business and cope with the pandemic.Design/methodology/approachThis study used qualitative exploration and asked open-ended questions to senior executives of STCs in India. Written responses were obtained from the respondents. Thematic analysis was performed to analyse the responses of the participants.FindingsThe findings highlight the innovative strategies adopted by STCs to cope with Covid-19-related business loss and present suggestions given by them to benefit the tourism industry.Research limitations/implicationsThis study offers insightful practical and theoretical implications for tourism companies, marketing practitioners and policymakers.Originality/valueThe study builds on social practice theory, and the findings (prominent themes) are uniquely mapped with the elements of social practice theory.

Tourism destination brokers: A network analytic approach

Understanding the interactions of tourist companies in different tourism sub-sectors could be relevant for advancing the destination's organisation and management. The present article employs a network analysis to examine inter-organisational interactions and the various roles that some companies assume in tourism destinations. The results reveal the existence of a network in which enterprises, identified as brokers, take on strategic roles both within and outside of their specific sub-sectors of origin. This study proposes new social network analysis indicators to identify the distinctive and prevalent position of company brokers, who manage inter-organisational relations by spontaneously assuming specific roles within the tourist destination network. Serving as coordinators, gatekeepers, consultants, liaisons and representatives, such brokers facilitate cooperative and collaborative practices among companies in different tourism sub-sectors, thus increasing actors' network cohesion across a given tourist destination.

CURRENT PROBLEMS IN THE TOURISM AND HOTEL INDUSTRY TAKING THE WORLD'S TOURIST CITIES AS AN EXAMPLE

Chinese tourism companies are facing problems such as over-exploitation of tourism resources, severe homogeneity of tourism service products, and gradual decline in corporate competitiveness. The article aims to provide the theoretical basis and experience for Chinese tourism to go abroad and develop international operations. This article uses a combination of qualitative and quantitative analysis methods. This article analyzes Singapore's tourism investment environment in many aspects, based on the existing theories of tourism transnational management, starting from relevant research results outside China. The results demonstrate that the tourism industry in Singapore is the highest among Asian countries.

Исследование рынка туроперейтинга в регионах Сибирского и Дальневосточного федеральных округов

Tourism is one of the most important links in the development of the regional economy in the country. Coronavirus infection COVID - 19 has seriously affected the tourism industry, so not all tourist companies were able to adapt to the changes. Thus, restrictive measures in connection with the epidemiological situation in the country, in different ways, affected the Arctic regions, thereby increasing the negative impact on the development of tourism. The article presents an analysis of the current state of tourist activity in the regions of the Siberian and Far Eastern Federal Districts. These territories are a promising direction for the development of domestic tourism of the Russian Federation. In addition, the indicators of tourism development in the SFD and DFD regions were considered. It is worth noting that the Arctic region is perceived as a territory with a huge amount of natural, cultural and historical resources, which in turn is one of the main factors in the development of domestic tourism, to meet the interests of the small indigenous peoples, and protect their interests. The relevance of this study is due to the importance of tourism transfer as one of the main factors in the development of tourism activities in the territory of both the Russian Federation and the regions of the Siberian and Far Eastern Federal Districts. Thus, the study was based on the activities of 675 tour operators of these regions. The obtained data can be used to create strategic activities of regions, to form popular in new conditions tourism products and to compete with traditional tourist centers. The presence of a highly competitive tourist market in the region is a prerequisite.

Willingness to Pay by Tourist Companies for Improving Sustainability and Competitiveness in a Mature Destination

Sustainability is becoming, in itself, an element of differentiation and competitiveness in tourism markets. However, the transition to sustainable tourism is a difficult task that requires time, money, and the willingness of stakeholders. The aim of this research is to estimate which factors explain tourism companies’ willingness to pay (WTP) the most widely accepted tax instruments, which can be used to finance subsequent policy development related to the sustainability of the destination. The factors that influence WTP of the most accepted instruments are also identified through a logistic regression model. The study was carried out in Andalusia, a popular tourist region in Spain. To this end, a survey was carried out of 916 tourism companies. The results obtained show that the factors that influence tourism companies’ willingness to pay are: commercial activity, business size, and annual turnover. In addition, taxes related to environmental protection generate greater WTP among tourism companies.

지속가능한 농촌관광 활성화 방안 연구: 나주시 농촌을 중심으로

Purpose The purpose of this study is to propose ways to revitalize rural tourism in Naju City, Jeollanam-do, in order to maximize the value of rurality for sustainable rural tourism. Methods 3 companies that carry out the accommodation and travel business affiliated with Chunnam Tourism Company were selected, and 2 people from the academic and professional groups related to Chonnam Tourism were selected and conducted by interview. Results For sustainable rural tourism in rural Naju City, first, we must develop an identity with the unique characteristics of rural villages. Second, we must develop the commercialization of rural tourism by the main body of rural residents. Third, the tourism content of various rural villages should be developed. Fourth, damage to rural natural landscapes and local cultural resources should be minimized. Fifth, a portion of the revenue generated from rural tourism should be returned to the succession of the traditional culture of the region. Finally, you need to develop strategies to increase customer satisfaction. Conclusion Although this study presents policy implications and practical implications for the sustainable tourism development and operation of rural Naju City, due to the limitation of not being able to make a practical empirical analysis of the field, it is necessary to analyze the effectiveness based on real cases in future research to try to propose a feasibility verification as claimed in this study, and due to the limitation of the selection and number of interviewees, it is necessary to collect more objective data by soliciting various opinions from rural residents and rural tourism experts.