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.

Segmenting The Hotel Market

Marketing involves satisfying consumers' needs and wants with products of two types, goods and services. Hotels provide an intangible product, referred to as a service. On the other hand, toothpaste is an example of a product that is a tangible good. The lifeblood of both is marketing. Different as they are, each utilizes market segmentation and positioning. The segmentation movement in the hotel industry is analyzed in the light of marketing principles developed from the consumer goods sector. The analysis suggests that the hotel industry is engaged in a multiple segmentation strategy

The Specialist: Coming Soon To Your Local Hotel

In an article entitled - The Specialist: Coming Soon To Your Local Hotel - by Stan Bromley, Regional Vice President and General Manager, Four Seasons Clift Hotel, San Francisco, the author’s introduction states: “An experienced hotelier discusses the importance of the delivery of a high “quality-to-value” ratio consistently to guests, particularly as the hotel market becomes specialized and a distinction is drawn between a “property” and a “hotel.” The author’s primary intention is to make you, the reader, aware of changes in the hospitality/hotel marketplace. From the embryo to the contemporary, the hotel market has consistently evolved; this includes but is not limited to mission statement, marketing, management, facilities, and all the tangibles and intangibles of the total hotel experience. “Although we are knocking ourselves out trying to be everything to everyone, I don't think hotel consumers are as interested in “mixing and matching” as they were in the past,” Bromley says. “Today's hotel guest is looking for “specialized care,” and is increasingly skeptical of our industry-wide hotel ads and promises of greatness.” As an example Bromley makes an analogy using retail outlets such as Macy’s, Saks, and Sears, which cater to their own unique market segment. Hotels now follow the same outline, he allows. “In my view, two key factors will make a hotel a success,” advises Bromley. “First, know your specialty and market to that segment. Second, make sure you consistently offer a high quality-to-value ratio. That means every day.” To emphasize that second point, Bromley offers this bolstering thought, “The second factor that will make or break your business is your ability to deliver a high "quality/value" ratio-and to do so consistently.” The author evidently considers quality-to-value ratio to be an important element. Bromley emphasizes the importance of convention and trade show business to the hotel industry. That business element cannot be over-estimated in his opinion. This doesn’t mean an operator who can accommodate that type of business should exclude other client opportunities outside the target market. It does mean, however, these secondary opportunities should only be addressed after pursuing the primary target strategy. After all, the largest profit margin lies in the center of the target. To amplify the above statement, and in reference to his own experience, Bromley says, “Being in the luxury end of the business I, on the other hand, need to uncover and book individuals and small corporate meetings more than convention or association business.

Análisis del sector turismo en Cartagena como elemento de internacionalización de la ciudad

El presente estudio apuntó a dar respuestas al interrogante siguiente: ¿Cuáles son las estrategias más acertadas que deben establecerse para mejorar los problemas del sector turismo en Cartagena y hacerlo más competitivo en el mercado internacional? Para ello se planteó el siguiente objetivo: Analizar el sector turismo de Cartagena, haciendo un diagnóstico a través de la Matriz DOFA, para establecer estrategias acertadas a los problemas encontrados, a fin de mejorar el producto turístico y hacerlo más competitivo en el mercado internacional. Para lograrlo se siguieron los siguientes pasos: – se caracterizó el sector turismo de la ciudad de Cartagena, identificando los puntos críticos del mercado hotelero a través del trabajo de campo (indagando en empresas hoteleras, de turismo y alcaldía distrital) – se evidenciaron las inconformidades de los turistas, aplicando una encuesta de satisfacción al cliente que sirvió para determinar las estrategias más acertadas a los problemas encontrados – se elaboró un diagnóstico a través de la Matriz DOFA para determinar las causas reales a los problemas presentados en este sector, que orientara la elaboración de las estrategias de mejoras – finalmente se elaboraron las estrategias a los problemas encontrados, encaminadas a mejorar el sector y poder competir en el mercado internacional.

Posicionamento estratégico das cadeias multinacionais de hotéis na avaliação de mercado hoteleiro brasileiro para negócios

Trata-se de um estudo exploratório/explanatório que visa avaliar a convergência entre a percepção de atratividade do mercado hoteleiro brasileiro e o posicionamento estratégico para negócios das grandes cadeias multinacionais de hotéis na avaliação de seus altos dirigentes. A pesquisa está inserida no contexto das estratégias de negócios internacionais e da expansão global hoteleira, tendo o Brasil como alvo.

Ativos intangíveis (modelo RBV) como recurso estratégico e competitivo: um estudo em hotéis de pequeno porte (zona sul, Natal/RN)

The study aims to analyze the perception of managers on intangible assets as strategic and competitive resources in small hotels in Natal/RN, through the theory of the Resource Based View (RBV). This is a qualitative study of exploratory and descriptive, conducted with managers of the means of hosting small the capital of Rio Grande do Norte through semi-structured interviews, which was applied later, the technique content analysis based on the results of the information obtained in the interviews. Thus, research has shown that managers of small hotels visited (A, B, C) are not sufficient and satisfactory knowledge to set as their unique intangible assets of the company and makes use of them, on an occasional basis, without understanding or in essence understand its true value as a resource that can be used strategically for sustainable competitive advantage in the hotel market in Natal/RN. This means that managers do not know how to create new attributes and use them strategically. And they need to expand their partnerships with stakeholders. Given the importance of the subject of the present research, the information achieved by this analysis may contribute to the provision of information to establish a current situation with regard to the attributed to the knowledge and use of resources (intangible assets) importance as a strategic source and competitive for the internal management of the company by managers and thus, enabling a differential and greater economic profit over time in this segment

Turismo y trabajo : Una aproximación desde el mercado hotelero

El presente trabajo tiene por objetivo profundizar en el comportamiento del mercado de trabajo en regiones donde la principal actividad económica es el turismo mediante el análisis de la información que desde el año 2004 se obtiene a través de la Encuesta de Ocupación Hotelera (EOH) que releva el INDEC. La posibilidad de contar con la EOH, especialmente en aquellas localidades que, por su dimensión no poseen información proveniente de las Encuestas Permanente de Hogares (EPH), abre la posibilidad de que, a través del comportamiento hotelero y para-hotelero, se acceda a una aproximación de la situación ocupacional en esas localidades, donde se presentan serias dificultades durante algunos períodos del año. Aunque la serie de que se dispone es aún breve 'en el mejor de los casos de hasta cinco años', se la analiza mediante técnicas estadísticas para determinación de estacionalidad, como punto de partida para un posterior seguimiento y puesta en discusión de otras alternativas de abordaje. Se trabaja con localidades de manera desagregada, pudiendo advertirse nítidamente las especificidades según la modalidad turística de cada una de ellas y concentrando el comportamiento de las mismas en dos grupos diferentes: a) Localidades con economías de perfiles más diversificadas; b) Localidades con base económica preponderantemente turística. Mediante este análisis se pretende alcanzar algunos resultados que, eventualmente complementados con información de carácter primaria tanto cuantitativa como de carácter más cualitativo, aporten al conocimiento de un mercado de trabajo cuyas especificidades lo tornan complejo y cuyas consecuencias preocupan tanto al sector público como al privado

Turismo y trabajo : Una aproximación desde el mercado hotelero

El presente trabajo tiene por objetivo profundizar en el comportamiento del mercado de trabajo en regiones donde la principal actividad económica es el turismo mediante el análisis de la información que desde el año 2004 se obtiene a través de la Encuesta de Ocupación Hotelera (EOH) que releva el INDEC. La posibilidad de contar con la EOH, especialmente en aquellas localidades que, por su dimensión no poseen información proveniente de las Encuestas Permanente de Hogares (EPH), abre la posibilidad de que, a través del comportamiento hotelero y para-hotelero, se acceda a una aproximación de la situación ocupacional en esas localidades, donde se presentan serias dificultades durante algunos períodos del año. Aunque la serie de que se dispone es aún breve 'en el mejor de los casos de hasta cinco años', se la analiza mediante técnicas estadísticas para determinación de estacionalidad, como punto de partida para un posterior seguimiento y puesta en discusión de otras alternativas de abordaje. Se trabaja con localidades de manera desagregada, pudiendo advertirse nítidamente las especificidades según la modalidad turística de cada una de ellas y concentrando el comportamiento de las mismas en dos grupos diferentes: a) Localidades con economías de perfiles más diversificadas; b) Localidades con base económica preponderantemente turística. Mediante este análisis se pretende alcanzar algunos resultados que, eventualmente complementados con información de carácter primaria tanto cuantitativa como de carácter más cualitativo, aporten al conocimiento de un mercado de trabajo cuyas especificidades lo tornan complejo y cuyas consecuencias preocupan tanto al sector público como al privado

Turismo y trabajo : Una aproximación desde el mercado hotelero

El presente trabajo tiene por objetivo profundizar en el comportamiento del mercado de trabajo en regiones donde la principal actividad económica es el turismo mediante el análisis de la información que desde el año 2004 se obtiene a través de la Encuesta de Ocupación Hotelera (EOH) que releva el INDEC. La posibilidad de contar con la EOH, especialmente en aquellas localidades que, por su dimensión no poseen información proveniente de las Encuestas Permanente de Hogares (EPH), abre la posibilidad de que, a través del comportamiento hotelero y para-hotelero, se acceda a una aproximación de la situación ocupacional en esas localidades, donde se presentan serias dificultades durante algunos períodos del año. Aunque la serie de que se dispone es aún breve 'en el mejor de los casos de hasta cinco años', se la analiza mediante técnicas estadísticas para determinación de estacionalidad, como punto de partida para un posterior seguimiento y puesta en discusión de otras alternativas de abordaje. Se trabaja con localidades de manera desagregada, pudiendo advertirse nítidamente las especificidades según la modalidad turística de cada una de ellas y concentrando el comportamiento de las mismas en dos grupos diferentes: a) Localidades con economías de perfiles más diversificadas; b) Localidades con base económica preponderantemente turística. Mediante este análisis se pretende alcanzar algunos resultados que, eventualmente complementados con información de carácter primaria tanto cuantitativa como de carácter más cualitativo, aporten al conocimiento de un mercado de trabajo cuyas especificidades lo tornan complejo y cuyas consecuencias preocupan tanto al sector público como al privado

Giegling's Market on south end of the Northern Hotel

verso: Louie Larsen said this was Nick Waal's Market for as long as he can remember. After the market quit Aug Redman had a cigar factory in the building. Later he added a pool room to the cigar factory. Harold (Capt.) Edwardsen tore it down about in the 1930's and built a summer cottage up north from the material. The market was adjacent [to] the Northern Hotel on the south.

The Mature Market: Underlying Dimensions and Group Differences of a Potential Market for the Hotel Industry

The mature market, defined as age 55 and up and consisting of approximately 64 million Americans, is expected to increase. Studies show that this group travels more frequently, travels greater distances, and stays longer. The authors seek to determine if underlying dimensions exist for the mature individual with regard to the selection criteria for lodging when traveling for pleasure, and to determine if differences exist between various demographic subsegments of this market with regard to these underlying dimensions.

Market-Driven Hotel Brands: Linking Market Orientation, Innovation, and Performance

"Market orientation" is a term popularized by marketing practitioners to indicate the extent to which a firm is market driven. This presumed linkage between market orientation and profitability has caught the attention of scholars, but, surprisingly, only two prior studies have reported a positive association between the two. Given the special relevance to the hotel industry of being market driven, we believe this industry provides the ideal setting for demonstrating the link between market orientation and performance. This research examines this linkage in the hotel industry. The results of our study suggest that market orientation is positively and significantly related to innovation, subjective performance, and objective performance. This result yields a number of useful ideas about how to harness the power of the marketing concept.

Determinants and market impact of seasoned equity offerings : the case of A-REITs

The paper examines the decision by Australian Real Estate Trusts (A-REITs) to issue seasoned equity offerings from 2000 - 2008 and stock market reaction to the offerings. The findings reveal that highly leveraged A-REITs with variable earnings are less likely to issue seasoned equity offerings. Inconsistent results for structure and type of properties held by the A-REIT do not allow for inference to be drawn. Similar to previous studies of seasoned equity offerings, we find a significant negative abnormal return associated with their announcement and no evidence of excessive leakage of information. Furthermore, market reaction differences to announcements of SEOs for the pre-global financial crisis (GFC) (2000-2006) and GFC eras (2007-2008) are noted with GFC era shareholders incurring larger abnormal return losses at 1.13% in comparison to the pre-GFC era shareholder loss of 0.34% on the SEO announcement day. Cross-sectional regressions show that the issued amount, leverage and profitability are significant factors affecting abnormal returns. Growth opportunities, tangibility, operating risk, size of A-REIT and other variables capturing A-REIT structure and property types held do not have an impact on abnormal returns

Fashion localisation in a global aesthetic market

This paper investigates how fashion circulates globally and is adapted and localised by consumers. The rise of fashion blogs, social networking, on-line retail and on-line streaming of fashion shows has exponentially increased the availability of fashion images globally, enabling a further multiplication of styles and looks. The geographical dispersion of production systems in third world countries, and the concentration of management and finance in first world countries are increasingly acknowledged as having an uneven social and economic effect. However, processes of hibridisation and creolisation give rise to new cultural forms where the local and the foreign are mixed in interesting ways. I argue that the current circulation of fashion must be understood as adaptation in which “outside aesthetic influence is integrated into and becomes part of an existing style tradition” (Lynch and Strauss, 2007, p. 154). This emergence of new local and eclectic styles denies assumptions in which consumers are disengaged while duped by a system of commodification. The paper argues that, through a process of “deterritorialisation”, “displacement” and “repatriation” (Appadurai 1996, p. 32), creative ordinary consumers are able to engage with fashion, reinventing it in the context of their local cultures.

Market Trend Analysis of Purpose Built Office (PBO) in Malaysia

The purpose of this paper is to explore the trend of Purpose Built Office (PBO) supply and occupancy in Malaysia. In achieving this, the number of PBO supply by the private sector in the market is compared with the government sector to gain an understanding of the current emerging market for the PBO. There have been limited studies in Malaysia comparing the trend supply and occupancy of PBOs by both sectors. This paper outcome will illustrate the needs for public sector asset management in Malaysia, particularly for PBOs. An analytical framework is developed using time series to measure the level of supply and occupancy of PBO by both sectors, indicating the percentage of government’s PBO compared to the total numbers of PBOs in the market from 2004 to 2010