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- Management accounting practices in the hospitality industry: A systematic review and critical approachPublication . Campos, Filipa; Santos, Luís Lima; Gomes, Conceição; Cardoso, LucíliaThe hospitality industry has been making a remarkable contribution to the growth of several countries’ economies. From a business perspective, the best management accounting (MA) techniques and practices are fundamental to the success of companies. However, studies in this specific area in the hotel industry are scattered in the scientific literature in different types of documents and different languages, and with an irregular distribution throughout the years (2000–2020). To fill this gap, a thorough analysis of the global performance of management accounting practices in hospitality is crucial. This study accessed theWeb of Science database in three different languages and systematized the articles to be included in this research through the PRISMA guidelines, which allowed an empirical basis for the critical approach to this topic. The greatest relevance of the study is the fact that it presents a systematic review of the literature on hotel management accounting practices, for which these results were enriched with a critical approach. The innovative character of the study focuses on evidence of the increasing implementation of some hotel management accounting practices over the years, such as some operating ratios and the USALI. In practical terms, The results of this study explain the overall performance of management accounting practices in the lodging industry and which ones are most widely used. The importance of the practices to support the decision-making of hoteliers and the challenges that they need to face in their implementation are also shown.
- Measuring the hotels' performance using profitability ratiosPublication . Santos, Luís Lima; Gomes, Conceição; Malheiros, Cátia; Campos, FilipaThe hospitality industry in Portugal has grown significantly through the year 2019, making a significant contribution to the country's economy. However, with the emergence of the Covid-19 pandemic, this industry was severely damaged and saw its profitability affected. Thus, it becomes essential to evaluate the hotels’ performance, based on ratios and indicators that allow income to be related to other variables in the financial statements and thereby assist managers in the decision-making process. Thus, this study aims to measure the performance of Portuguese hotels through financial profitability ratios, more specifically the return on equity, return on assets and return on sales. The study, through a quantitative methodology, collected data from 2,008 hotels between 2016 and 2020, with the help of the SABI platform. Variables such as region, net income for the year, equity, financial costs and losses, total assets, operating income, and turnover were used to calculate and analyze the profitability ratios and the results were analyzed using SPSS software. The conclusions demonstrate how essential profitability is to inform hoteliers about performance. The Portuguese hotel industry, considered a driver of the country's economy, performs very well in terms of profitability indicators until the Covid-19 pandemic, a period that showed severe breaks in profitability and the need for extraordinary measures for recovery. It has become clear that the overall performance of hotels differs between regions, so the calculation of average profitability is crucial for hoteliers to effectively benchmark. This research has theoretical and practical contributions, as it supports the broadening of knowledge about financial ratios and managers' perceptions of the importance of their use in such a competitive industry. In addition, the study aims to fill a gap in the literature about the importance of analyzing hotel performance through profitability ratios in Portuguese hotel companies.
- Restaurants' solvency in Portugal during COVID-19Publication . Gomes, Conceição; Campos, Filipa; Malheiros, Cátia; Santos, Luís LimaThe main purpose of this study is to understand how Portuguese restaurants’ solvency was affected by the COVID-19 pandemic, considering the factors that influence it. Financial information was collected for the years 2019 and 2020 in the SABI database to elaborate a quantitative methodology; a descriptive analysis was used and Pearson’s correlation coefficient, a Paired t-test, a one-way ANOVA test, and a multiple linear regression were used to test the formulated hypotheses. The findings confirm that solvency is affected by several determinants, such as financial autonomy, indebtedness, financial leverage, asset turnover, return on equity, and long-term bank debt. Solvency is influenced positively by financial autonomy and financial leverage. In contrast, solvency is negatively influenced by indebtedness, asset turnover, and long-term bank debt. Additionally, this paper represents the first study, in the restaurant sector in Portugal, which analyses the importance of solvency and its determinants, by facing a normal year with a crisis year. The paper is innovative in terms of knowledge about restaurant solvency behavior in periods of financial crisis and also because the COVID-19 pandemic has added an additional variable to restaurant solvency: short-term bank debt. In terms of theoretical implications, this study provides further insights about the factors influencing solvency in restaurant businesses during periods of a financial crisis. The main practical contributions are linked to improving the leadership skills of restaurant owners and managers to deal with periods of crisis in general, thus improving the solvency of their businesses and decreasing the risks associated with bankruptcy.
- Demystifying neurotourism: An interdisciplinary approach and research agendaPublication . Cardoso, Lucília; Araújo, Arthur; Silva, Rui; Almeida, Giovana Goretti Feijó de; Campos, Filipa; Santos, Luís LimaThe academic discourse surrounding tourism's interdisciplinary approach has long piqued the interest of the scholarly community. More recently, attention has pivoted towards the intersection of neuroscience and neuromarketing within the realm of tourism, giving rise to the concept of “neurotourism”. This emergence requires a comprehensive elucidation of the relevance of neuromarketing and neuroscience to the field of tourism, thereby addressing the imperative to bridge existing knowledge gaps. In light of this, the present paper endeavours to fulfil this objective by synthesizing global research in this domain. The study adopts an interdisciplinary approach, employing a hybrid systematic review methodology that encompasses a literature review encompassing nine key indicators and a bibliometric analysis through co-word analysis of author keywords. In total, our investigation unearthed 45 papers from Scopus, each exploring the application of neuroscience and neuromarketing theories and methods within the context of tourism. Among these, three papers delve into the concept of neurotourism. In this paper, we underscore the deep connection between neuroscience, neuroscientific methodologies, and neuromarketing within the realm of tourism research. The outcomes of this research significantly enhance our comprehension of the current state of neurotourism research, revealing both existing voids and emerging areas of interest. Furthermore, this study introduces a pioneering methodological approach, fusing Scival topic prominence and hybrid systematic review techniques into bibliometric analysis. Ultimately, our findings illuminate a notable research lacuna, presenting a fertile terrain for prospective investigations. Additionally, we deliberate on current trends and propose directions for future research within the neurotourism landscape.
- How to innovate and strengthen management accounting in a family restaurant businessPublication . Campos, Filipa; Santos, Luís Lima; Gomes, ConceiçãoThe aim of the chapter is to implement the adjusted USAR (Uniform System of Accounts for Restaurants) in a family restaurant business to provide more powerful operational and financial information, through the innovation of this type of financial tools. The restaurant sector has been recording historical highs in terms of its contribution to countries’ economies, and academic research on this sector has also been developing positively. This sector is characterised by many small companies, most of which are family-owned, whose main objective is to maximise profit. The cost and income information are extremely important for decision-making and achieving this goal. This information should be treated in a particular way since this is a sector with some particularities and due to the adverse reactions of managers. Based on the literature review, research questions were formulated. The qualitative methodology was used to promote a deeper understanding of the practices applied in family restaurant companies and of how to innovate and strengthen them. The aim is to study the social phenomenon in depth to understand the reactions of family restaurant managers to the change of cost information processing. The method adopted was an exploratory case study to study the implementation of USAR in a real environment and to verify its viability. A single case study was chosen since family restaurant businesses have the same characteristics and only the managers’ personalities change. In this case study, several sources of evidence were used, such as documentation, interviews, participant observation, and archival records. Then, the structure of its operations, accounting information on costs and incomes, and the adopted management control practices were analyzed. The results supported that the implementation of control and management systems in the restaurant sector allows for more effective management. USAR demands greater precision and detail at the operational and financial levels. The case study in a family-managed restaurant allowed the implementation of USAR with some adaptations, such as removing several detailed supporting schedules and reducing items from other statements. All research questions were answered, and this study will help restaurant owners to improve their income and control their costs more effectively, and make innovative decisions based on the information obtained. The implementation of USAR, as an innovative model, provides a more realistic vision of the whole operation and all the financial information and presents advantages. However, the lack of knowledge of managers and employees about the basic principles of management accounting can influence the success of the process.
- Restaurant management through USAR and USALI: Exploratory approach to similarities and differencesPublication . Campos, Filipa; Santos, Luís Lima; Gomes, ConceiçãoThe tourism sector is key to global economic development. The hotel and restaurant business segments are very relevant for the generation of wealth and employment, so the managers of these companies must have quality information to support their decisions. In this regard, the research subject of this paper is two uniform systems of accounting applicable to the tourism sector and generally accepted in the hotel and restaurant industry. The general objective of this research is to study the USALI (Uniform System of Accounts for the Lodging Industry) and the USAR (Uniform System of Accounts for Restaurants) to provide a simple-to-use analytical basis for managers to gain a competitive advantage. This main objective is underpinned by three specific objectives focused on the study of the practical aspects of these two accounting systems: the analysis of the income statements, the analysis of the detailed auxiliary/supporting schedules and the establishment of structural relationships that will contribute to supporting restaurant managers, whether as a department of a hotel or as an independent business. The methodology used follows an exploratory approach, through the study and analysis of relevant bibliography, which consists of books and articles by various authors and the official documents of the two uniform accounting systems. The results allow us to highlight the main differences between the two systems, which are composed of several detailed auxiliary/supporting schedules. The study evidenced that USAR and USALI provide information with distinct management goals, whereby USAR presents a higher degree of detail and suggests more in-depth operational and financial analyses. The conclusions highlight the importance of USAR and USALI, with USAR contributing to better analysis and performance in the food and beverage department. The main practical contribution of this study results in the perception, for managers, of these two systems as a coherent whole, since the study allows the analysis of both separately and/or through their similarities.
- Ascertaining Restaurant Financial Sustainability by Analyzing Menu PerformancePublication . Gomes, Conceição; Malheiros, Cátia; Lima Santos, Luís; Campos, Filipa Alexandra Gomes deThe complexity of companies in the restaurant industry is clear, and various techniques can be used to make decisions. The analysis of performance and the optimization of restaurant menus are considered important, which is why several approaches can be used. The objective of this study is to achieve financial sustainability in the restaurant industry through menu performance analysis and identifying strategies to improve menu profitability. A qualitative methodology of a dual case study was adopted by comparing a restaurant within a hotel and a street restaurant. The results show that for restaurant owners and managers, these approaches are useful, simple, and pertinent for measuring the performance of the restaurant menu and consequently improving results. The originality of this research lies in the fact that three analysis models were applied simultaneously, allowing for an in-depth analysis of the profitability of the menus being analyzed. This study identified the most profitable items for each restaurant and the items that needed to be changed to contribute more to the profitability of the restaurant’s menu, resulting in practical implications. Through theoretical implications, this study corrects the limited knowledge about performance through the restaurant menu, creating a starting point for knowledge spreading to society. In conclusion, this research is one of the first to bridge the gap between theory and practice, taking several approaches to assess restaurant menu performances, which can be useful in restaurants to promote sustainability.
- Monitoring Revenue Management Practices in the Restaurant Industry—A Systematic Literature ReviewPublication . Malheiros, Cátia; Gomes, Conceição; Lima Santos, Luís; Campos, Filipa Alexandra Gomes deThe research of revenue management (RM) practices is widespread in the accom modation sector, but not in the restaurant industry. This study aims to ascertain which RM practices are the most used in the restaurant industry, organizing them by clusters, identifying those that imply profit maximization and describing the challenges of their implementation. Mixed methods were used as the methodology through a systematic literature review, which was submitted to a brief descriptive analysis and content anal ysis. Data were retrieved from the Scopus database, and, using the PRISMA diagram, 70 papers were collected for comprehensive analysis of their content. The results of the studies identified five main areas of RM and 21 practices, some specific to the restaurant industry, with reservations and meal duration management being the most used practices. Reservations have been implemented in many restaurants but are not a reality for all of them. A well-managed meal duration increases restaurant capacity. Furthermore, customer satisfaction implies the success of all other practices since customers must understand and accept the RM practices for their success. As a theoretical implication, this study contributes to the development of research into the RM practices of restaurants, and as practical im plications, restaurant managers should implement the following practices: meal duration management, indicators, and table mix. This study contributes to future research, such as analyzing the relationship between sustainability and RM, applying RM to the beverages department, and including RM in consumer behavior in the context of future crises.
- Gestão de spas: USFRS vs USALI na ótica do apoio à decisãoPublication . Campos, Filipa; Gomes, Conceição; Ferreira, Cátia; Santos, Luís LimaEste estudo tem como objetivo analisar e comparar dois sistemas contabilísticos: o Uniform System of Financial Reporting for Spas (USFRS) e o Uniform System of Accounts for the Lodging Industry (USALI) na perspetiva de evidenciar a utilidade de ambos no apoio à decisão. Estes sistemas oferecem demonstrações financeiras e operacionais que auxiliam os gestores e colaboradores a obter informações para tomarem decisões mais eficientes. Os objetivos específicos incluem a análise comparativa das demonstrações operacionais resumo e das demonstrações departamentais, bem como o estabelecimento de relações entre os dois sistemas. A metodologia utilizada neste estudo é qualitativa, utilizando a pesquisa documental para coleta de dados. Para tratamento dos dados foi utilizado o método comparativo. Os resultados destacam as principais diferenças e semelhanças entre o USFRS e o USALI, com foco nas demonstrações operacionais resumo, demonstrações departamentais e rácios. Enquanto o USALI prioriza a seção de alojamento e de alimentação e bebidas, o USFRS apresenta seções mais específicas, como massagem, cuidados com a pele, cabelo e unhas. Além disso, o USFRS favorece os custos variáveis quanto o USALI promove os custos fixos. As contribuições deste estudo permitem auxiliar os gestores na implementação e uso dos sistemas contabilísticos estudados. Assim, os gestores terão a oportunidade de conhecer tanto o USFRS como o USALI, analisando-os individual e comparativamente, o que fornecerá uma visão mais clara e específica do desempenho dos spas, assim como uma melhor perceção do desempenho global de um spa ou departamento de spas, permitindo melhorias na eficácia da gestão das empresas. As limitações deste estudo incluem a escassez de literatura sobre o USFRS, o que representa um desafio para a pesquisa futura.
- Management accounting in restaurants: Case study: implementation of USAR in ‘O Pinote’ restaurantPublication . Campos, Filipa; Santos, Luís Lima; Gomes, ConceiçãoPurpose: The present research has as object of study a uniform system of accounts used in the restaurant sector. The main objective consists in the implementation of USAR (Uniform System of Accounts for restaurants) through the Case Study in ‘O Pinote’ restaurant, to provide the owners a best preparation of operational and financial information to obtain the success. Theoretical framework: The theoretical basis used to support the research is found in official documents that represent management in restaurants. Design/methodology/approach: The methodology used in this study is divided into the following 3 parts: systematic literature review of various documents on accounting and restaurant management, analysis of USAR and case study applying USAR in ‘O Pinote’ restaurant. Findings: The results sustain that the implementation of control and management systems in the restaurant sector allows for a more effective management. These systems, as is the case of USAR, allow for greater accuracy and detail at the operational and financial level. The case study will allow the implementation of USAR in the ‘O Pinote’ restaurant, and it is expected that it will help the owners to control more effectively their costs and make their decisions based on the information offered. Research, Practical & Social implications. The implementation of USAR has a more real vision of the whole operation and all the financial information and presents advantages. Originality/Value: This study contributes to a management model adapted to the conditions of a micro restaurant business.