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- A afiliação a uma marca: retrato dos estabelecimentos hoteleiros em PortugalPublication . Alves, Jorge; Vaz, Clara B.; Martins, Catarina AntóniaA hotelaria é um dos setores mais importantes na atividade turística em Portugal. Conhecer as características e especificidades das unidades hoteleiras a operar em Portugal é importante para todos aqueles que tomam decisões sobre o investimento neste setor. Conhecer a realidade da afiliação dos estabelecimentos hoteleiros portugueses a uma marca é também uma questão de muito interesse para os hoteleiros no apoio à tomada de decisões estratégicas. Com recurso à análise do universo dos estabelecimentos hoteleiros existentes em Portugal, é feita a sua caracterização quanto às especificidades, instalações e equipamentos. Em termos metodológicos estima-se um modelo de regressão logística que permite discutir a afiliação dos estabelecimentos hoteleiros portugueses a uma marca. Os resultados permitem concluir que pouco mais de um terço dos estabelecimentos hoteleiros em Portugal são afiliados a uma marca, sendo esta afiliação mais frequente nas regiões mais turísticas. Os resultados permitem ainda verificar que os estabelecimentos hoteleiros afiliados possuem, em média, maior número de estrelas, maior capacidade e menor número de equipamentos que os estabelecimentos hoteleiros não afiliados.
- Determinants of environmental certification of hotel companies. an analysis of the portuguese casePublication . Martins, Catarina Antónia; Alves, Jorge; Silva, AnitaGoal: Sustainability in tourism is one of the major topics of research. Sustainability is also a major issue of interest for all tourism actors in tourism supply and a major concern for tourism demand. From all stakeholders involved in tourism activity, hotel companies are urged to install responsible businesses and investment (Aznar et al., 2016; Claver-Cortés et al., 2007; Geerts, 2014; Park & Kim, 2014;Rodríguez & Cruz, 2007; Singal, 2014). The aim of the present paper is to identify main determinants of environmental certification of hotel companies in Portugal. Method: The present study uses a methodology based on the analysis of hotel companies that have hotel units certified and those not having certified hotels units. Each company is established in Portugal and may operate one or more hotel units. The dataset was created considering two different databases: data from Hotel Establishments, such as hotels, aparthotels and Pousadas nationwide, registered in the Portuguese National Tourism Registry in 2021; data from the Analysis of Iberian Balance Sheets (SABI) database from Bureau van Dijk obtaining the economic and financial data of companies that manage those hotel units. Several variables were selected to assess the determinants of environmental certification related to the characteristics of hotel establishments. Financial indicators were also computed to determine the influence of financial performance on environmental certification. Hypothesis were established concerning hotel companies’ dimension, star rating, affiliation to a brand and financial performance. Data analysis and Tobbit regression were computed to test hypothesis. Findings: The empirical results show that dimension, star rating and affiliation explain environmental certification. In fact, hotel companies with a higher average capacity also have a higher average of certified hotels. Likewise, hotel companies with a higher average on stars rating also have a higher average of certified hotels. Still, hotel companies with a higher average of affiliated hotels also have a higher average of certified hotels. Hotels with higher star rating are more concerned with environmental certification what could be explained by the type of more demanding consumer. Also, brand affiliated hotel companies adopt more frequently environmental certification since management processes are standardized and hotel chains may support individual units adopting certification (Gil et al., 2001). Hotel companies with higher capacity are more concerned with cost savings achieved through environmental certification and since larger hotels have a reater impact on the environment they are exposed to considerable environmental pressures from stakeholders (Gil et al., 2001). Concerning financial indicators it was not possible to obtain statistically significant results. Though, for financial indicators as return on sales and return on equity, we could obtain positive results concerning a positive relation between financial performance and environmental certification. These results are in line with other works studying other countries as is the case of Gil et al. (2001), Duric and Topler 55 (2021), Cavero-Rubio and Amorós-Martínez (2020), Molina-Azorín et al. (2009) and Segarra-Ona et al. (2012). Limitations: Limitations of the study are related to the reduced number of hotel companies in Portugal that have environmental certified hotel units. Practical implications: The results of this study are important for hotel managers specially those managing higher star rating hotels and those managing higher dimension hotels. Future research could address hotel establishments instead of hotel companies and consider other types of indicators that relate to sustainability practices. Originality: This paper intends to fill a gap in literature studying the Portuguese case on the subject of the determinants of environmental certification and how it relates to financial performance of hotel companies.
- Financial performance assessment of branded and non-branded hotel companies. Analysis of the Portuguese casePublication . Martins, Catarina Antónia; Vaz, Clara B.; Alves, JorgePortugal has been experiencing a continuous growth in tourism activity, with hospitality industry as one of the main tourism sectors. Therefore, the assessment of hotel companies’ performance is very important to assist decision processes. The purpose of this paper is to assess the financial performance (FP) of 570 hotel companies operating hotel units in Portugal in 2017. To explore the question of brand affiliation, a comparison was made between hotel companies with similar stars rating and market orientation. In addition, this paper intends to fill a gap in literature studying the Portuguese reality on the subject of brand affiliation. Design/methodology/approach – The present study uses a methodology based on data envelopment analysis (DEA) to assess the overall performance for each company, which further decomposed into the within-group performance and the technological gap. The performance of the hotel company is assessed through the aggregation of multiple financial indicators using the composite indicator (CI) derived from the DEA model. A bivariate analysis based on the Tobit regression to test the robustness of brand effect on FP of hotel companies (HC) was also included. Findings – The empirical results show that branded companies, on average, have significantly better overall FP than non-branded companies. On the one hand, the brand effect tends to improve the within-group FP of HCs and the brand presents a statistically significant positive effect on the FP. On the other hand, the best practices are observed in both branded and non-branded companies. Practical implications – The results of this study illustrate that, globally, the better FP of the branded companies is because of their individual relative companies’ performance and a better model of operation given by the brand effect. Brand affiliation will generally allow for a better FP and essentially a better profitability for invested equity, a higher return on sales and a higher value added per employee. Originality/value – The study provides important theoretical and practical contributions that can assist the strategic decision of the HCs in choosing to operate independently or to adopt brand affiliation. Also, it is innovative because the FP of branded and non-branded HCs is measured not using a set of individual financial ratios but through a single CI that aggregates those financial ratios, using a DEA model.
- Determinants of environmental certification in Portuguese hotel companiesPublication . Martins, Catarina Antónia; Alves, Jorge; Silva, AnitaThere are many responsible business and investment initiatives in the field of environmental performance, and among these, certification is a targeted mechanism. In this work, we intend to study the determinants of environmental certification of hotel companies, analysing the Portuguese case. The empirical study considers hotel companies established in Portugal that may operate one or more hotel units. The information retrieved from the Portuguese National Tourism Registry and Iberian Balance Sheet Analysis System database was coded, and a database was built in the SAS software. Variable and data analysis was conducted using descriptive statistics, variable correlations, and the Tobit regression model. The results indicate that affiliation to a brand, hotel classification and hotel size are factors that explain environmental certification, but the return on sales was not statistically significant in this study. These results are important to understanding the determinants of environmental certification in hotel companies since, as a topic of research, it has had little attention prior to the study for the Portuguese case, thus reinforcing the importance of this research. The study also reveals the restricted sample of hotel companies with environmental certification in Portugal, which did not allow computing other study variables that would improve the empirical work.
- Comparison of financial performance between branded and nonbranded hotel companies using composite indicatorPublication . Martins, Catarina Antónia; Vaz, Clara B.; Alves, JorgeThe Hospitality industry is one of the main sectors of tourism activity, being important to assess the performance of the hotel companies. The aim of the present paper is to study the financial performance of 570 companies operating hotel units in Portugal, in 2017, allowing for comparison among companies with similar stars rating and market orientation to explore the question of branded and non-branded affiliation. This issue is studied using a methodology based on Data Envelopment Analysis to assess the overall performance for each company. The hotel company performance is assessed through the aggregation of multiple financial indicators using the composite indicator derived from the DEA model. The empirical results show that the hotel branded companies have, on average, significantly, higher overall financial performance than hotel non-branded companies. Although, the best practices are observed in hotel branded and non-branded companies. This analysis can support the strategic decision process of the hotel companies in choosing to operate independently or selecting a brand affiliation.