Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison

Temelkov, Zoran (2022) Financial performance of selected hotel groups and resorts during COVID-19 pandemic: 2019/2020 comparison. Hotel and Tourism Management, 10 (1). pp. 41-51. ISSN 2620-0279

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Abstract

The outbreak of COVID-19 brought many negative effects in different regions and economic areas. However, the hotel industry suffered the most adverse effects due to restrictions and measures imposed by countries. Hence, hotels took substantial hit on their financial performance and efficiency. The adverse impact was not same for all hotels across the globe. The extent to which they will record worsening financial performance depends on the implemented governmental measures and actions taken by the hotels. Assessment of changes in revenues, expenses and expense to revenues ratio shows the magnitude of the impact induced by the pandemic. The findings suggest that most hotels have suffered a substantial loss in revenues and significant increase in expense to revenues ratio.

Item Type:	Article
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Tourism and Business Logistics
Depositing User:	Zoran Temelkov
Date Deposited:	04 Feb 2023 21:27
Last Modified:	04 Feb 2023 21:27
URI:	https://eprints.ugd.edu.mk/id/eprint/31323

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