RT info:eu-repo/semantics/article
T1 Cost efficiency and its determinants in the hotel industry
A1 Arbelo Pérez, Marta
A1 Arbelo Álvarez, Antonio Manuel
A1 Pérez Gómez, María del Pilar
A2 Dirección de Empresas e Historia Económica
A2 Grupo de investigación: Eficiencia y ventaja competitiva.
Instituto de investigación: Instituto Universitario de la Empresa (IUDE).
K1 cost efficiency
K1 hotel industry
K1 stochastic translog cost frontier
AB This study employs a stochastic frontier model to estimate cost efficiency and its determinants in the hotel industry in Spain between 2008 and 2012. Measuring cost efficiency provides useful information on the performance of hotels to management, shareholders and, in general, to all stakeholders. Cost control is an issue managers are particularly concerned about, as it gives a competitive advantage that allows hotels to perform better. The results indicate that the inefficiency in average costs for the sample considered is 32.44% and is time invariant. The results also show that labour productivity, the accumulation of knowledge and location are factors that largely determine the differences in efficiency between hotels. These findings have important implications for public policymakers and hotel management, specifically, policies aimed at improving the skills of hotels’ human resources should be encouraged. Likewise, both location and the accumulation of knowledge are strategic resources that hotel management must include in their competitive strategies to increase efficiency.
YR 2017
FD 2017
LK http://riull.ull.es/xmlui/handle/915/38740
UL http://riull.ull.es/xmlui/handle/915/38740
LA en
DS Repositorio institucional de la Universidad de La Laguna
RD 19-nov-2024