Financial dynamics of lodging companies during ten years: a comparison between hotels and other lodging companies.

Abstract

The global financial crisis has affected all countries during the period 2008-2014. Lodging companies play a strategic role in the economy of a country. The performances of lodging companies, and in particular hotels and other lodging companies, was analysed in this paper, referring to the period of the crisis 2008-2017.The aim of this paper was to analyse financial dynamics of the aforementioned lodging companies, to check whether they have suffered the effects of the global crisis. To this end, data from the AIDA database relating to Italian companies in the sector were used. The financial dynamics of these companies was analysed using the main financial ratios, quick ratio and debt/equity ratio. An analysis of the trends and ANOVA of these ratios was carried out for the period 2008-2017. Thus, the ten years during and after the crisis, i.e. 2008-2017 was considered. The sample was made up of Italian lodging companies. The researcher verified the number of such companies for which data was available for the indexes considered in the 10 years under investigation. Successively, different groups were identified using two discriminating factors, the geographic area and the business market. In this way, it has been verified whether the global crisis has affected financial dynamics of lodging companies in Italy. The results demonstrate that the crisis has had different effects for the two business markets, hotels and other lodging companies.

Keywords

• Tourism
• hotel
• crisis
• finance
• performance
• ratio
• Italy