The effect of innovation on hotel market value

The purpose of this article is to analyze the effect of hotel innovations on firm value. Specifically, this study fills a research gap in the previous literature by examining this effect through market value and by distinguishing the potentially different impacts of distinct innovation types: product, process, organization and marketing. This research contributes to consolidating the empirical evidence of hotel innovation and performance by analyzing whether distinct types of innovation lead to different levels of results. The findings show that innovations are perceived to have a positive impact on the future sales of the company: in a four-day period (0,+3), there is an increase in stock exchange returns of 1.53%. In terms of innovation types, process and marketing innovations are found to have a higher positive effect on hotel market value than product and organization innovations; which is explained by potential cost differences among innovations.

How buildings visualise client and architect: The problem that today’s user is typically not the client

An article presented at the last ICAT- conference stated at the end that buildings at all times tend to picture the people who had them erected. This paper aims to show the correctness of that statement. To this end, it will examine a number of typical residential buildings dating from the beginning of the seventeenth century up to today, investigate who had the buildings erected, and relate that to the performance of the buildings. This relation analysis will mainly use the scale but also the degree of diversity in function and appearance as factors. Furthermore, using economic data and data on the buildings to identify patterns, it will investigate how size of the property and relative size of the capital interest behind the building has developed. Since the authors live in Copenhagen and Copenhagen is very typical in its historical development, buildings and environments in and around the centre of Copenhagen are used as examples.