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- Factors Influencing Hotel Revenue Management in Times of Crisis: Towards Financial SustainabilityPublication . Lima Santos, Luís; Gomes, Conceição; Malheiros, Cátia; Crespo, Catarina; Bento, Carla(1) Background: Facing the challenges of a post-pandemic period and the Ukraine War and recognising the gap in scientific research on the application of revenue management (RM) in the Portuguese hotel industry, the main objective of this study is to identify the most effective and least appropriate RM practices for use in periods of low demand and crises, reflecting the financial sustainability perspective. The theoretical framework of this study focuses on the main RM practices, grouping them into price and non-price strategies. (2) Methods: A quantitative methodology was employed, collecting information from Portuguese hotels through an online questionnaire, and statistical analysis using Mann–Whitney and Chi-square tests was conducted. (3) Results: Hotels offered discounts during the pandemic, but room rates were reduced during the recovery period. These findings also revealed that commonly used techniques were the best available rate (BAR) and rate fences, particularly during the pandemic. Quality, brand image, strategic partnerships, and marketing actions are recognised as essential. However, loyalty programs, length of stay (LOS) control, rate parity, and bundled services are not commonly implemented despite their importance during periods of low demand. Larger hotels, five-star hotels, and members of international chains applied more RM practices than smaller four-star independent hotels. (4) Originality: This study provides original and valuable insights into increasing hotel revenues and occupancy rates during future periods of low demand, which benefit financial sustainability.
- The Quintessence of public finances: Sustainability dynamics in tourism financial analysisPublication . Lulaj, Enkeleda; Lima Santos, Luís; Gomes, Conceição; Jha, DipraTourism plays a crucial role in driving economic development, and there is a growing demand to integrate sustainability into the sector, particularly in the financial practices of governments. This study introduces the Quintessence Sustainable Tourism Public Finances (QSustainableTPF) model, which combines five established financial models commonly used in the tourism industry. The research aims to identify statistically significant relationships between these models and assess their impact on sustainability and financial performance in tourism. A quantitative methodology was employed, with data collected from financial reports and budget documents of both local and central governments, along with a survey of 2099 citizens and visitors conducted during the 2023–2024 period. Statistical analysis was performed using SPSS and AMOS, incorporating exploratory factor analysis (EFA), reliability testing using Cronbach’s alpha, and confirmatory factor analysis (CFA). The findings underscore the essential role of public finance in supporting tourism sustainability, particularly through transparent budgetary practices, efficient allocation of resources, and targeted investment in local tourism initiatives. The analysis reveals key insights into the benefits of financial transparency, citizen-centred budgeting, and the promotion of innovation in tourism finance. The interconnectedness of the five models highlights the importance of responsible public financial management in fostering tourism growth, enhancing investment, and ensuring long-term financial sustainability in the sector. The study offers practical implications for policymakers, advocating for the adoption of transparent and innovative financial practices to boost tourism development. It also recommends further research to broaden the scope across different regions, integrating additional public finance dimensions to strengthen sustainable tourism growth.
- 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.
- The tourism distribution in Portugal and Spain: An approach to its performance evaluationPublication . Oliveira, Fernanda; Gomes, ConceiçãoThis study aims to strengthen knowledge about the tourism distribution system, using the calculation and analysis of indicators and financial ratios, as part of this sector companies’ performance evaluation. In this case, return on equity (ROE) was used as this ratio measures how effectively management is using shareholders’ investment to create profits. Using the Dupont model, the main objective is to identify which financial factors influence travel company’s ROE from the shareholder viewpoint (Lopes et al., 2014; Pratt, 2011, Rodrigues and Simões, 2008). To this end, an Iberian study involving 7528 travel companies (travel agencies, tour operators and other reservation services and related activities) was conducted. The ROE was calculated for the years 2007 and 2017 for 2065 Portuguese companies and 5463 Spanish. The ROE calculation in those two years identifies an increase of 5 p.p. for Portugal and 11 p.p. for Spain. In Spain, the Tour Operators sub-sector is the one with the highest ROE increase in 2017 (15p.p. between 2007 and 2017), while in Portugal it is the Travel Agencies subsector (5p.p.). This increase in ROE in 2017 is positively determined by net income after taxes and earnings before taxes and interest (EBIT) in both countries. Moreover, in Spain, this ratio also has a positive influence of turnover and headcount. Thus, Portugal and Spain reveal two different realities in this highly competitiveness sector. What lessons can be drawn from these two countries reality? What should managers do to be proactive regarding the issues which influence performance evaluation?
- As expectativas de carreira dos estudantes de hospitalidade e turismo: explorando diferenças de géneroPublication . Gomes, Conceição; Ferradosa, Ana Sofia; Lopes, SofiaThe recent growth in Portuguese tourism has been reflected by the increase in the hospitality and tourist industry, emphasizing the importance of competent professional training in this sector. The high rotation rates of personnel in this sector has been acknowledged in previous studies. Several authors have questioned whether students applying for tourism related degrees recognize the characteristics of a career in this sector. Previous studies concluded that there were barriers to gender equality. In general, men received higher wages and held higher hierarchical positions compared to women. In contrast, women were typically higher academic achievers than men. Women were also distinguished as being more concerned with social and environmental issues, while men were more entrepreneurial with a greater interest in starting their own business. This study aimed to understand undergraduate students’ expectations regarding the hospitality industry, analyzing the relative differences between gender. A survey questionnaire was conducted on students of a Portuguese higher education institution with 1st-cycle degrees related to hospitality and tourism (n=329). According to the majority of career expectations considered, there were no differences between male and female students. However, gender differences were apparent with respect to “mobility – finding job anywhere” and the ambition to “become a supervisor/manager/director”, with men revealing higher levels compared to women.
- Impact factors on Portuguese hotels’ liquidityPublication . Lima Santos, Luís; Gomes, Conceição; Ferreira, Cátia; Lucas, AnaAs a core activity in the tourism sector, hospitality accounts for the largest share of the sector’s revenue. The last few years, prior to the COVID‐19 pandemic, have been years of strong growth both in the number of hotel companies and in the number of available rooms. The hospitality industry has also been betting on diversification as well as on the quality of its services. This activity has a strong impact on the various agents in the sector, thus it makes it essential to measure and analyze the sustainability of these hotels. One of the indicators that proficiently measure short‐term sustainability is the company’s liquidity level, as it demonstrates its ability to meet short‐term financial obligations. This type of indicator is useful since it provides relevant information not only for managers, but also for banks and lenders, and investors. Volatility is a characteristic of hotels which are associated with geographic location, implying changes in the main operating revenue indicators. In this sense, this research aimed to investigate if the ability to reimburse short‐term responsibilities differs according to the geographic location, food and beverage service existence, official stars classification, and hotel size. Portuguese hotels with and without restaurants were analyzed in the 2013–2017 period and the number of available rooms and star rating were included in the database. All the information was obtained on SABI (a database of detailed financial information of Portuguese and Spanish companies) and RNET (the Portuguese Register of Tourist Enterprises). Findings show that the behavior of some hotels concerning short‐term obligations does not differ much considering the location of the hotels. However, the Algarve and the North region have the highest values. In fact, the official star rating proved to have the greatest influence. The size of the hotels, as well as the existence of restaurants negatively influences liquidity. This information is very important for hotel investors. This study can also provide management information that allows more informed decision‐making as well as the definition of corrective measures if necessary.
- Account for variation by field in publication: Bibliometric databases’ analysis in a Portuguese Higher Education InstitutionPublication . Malheiros, Cátia; Gomes, Conceição; Campos, Filipa; Eurico, SofiaThis study seeks to examine the variation by field in publication practices in a Portuguese Higher Education Institution (HEI), where both research in Social Sciences and in Hard Sciences is conducted. The intention is to raise the issue of the suitability of bibliometrics for the Professors/researchers’ evaluation considering their areas of research, as well as understanding the sort of use they make of these instruments. Different bibliometric Databases were managed to analyze the use given to them by all the researchers in this HEI and to find out the main differences in its use according to the researched field of study. These results might represent a valuable source of information for HEIs in the process of finding the balance between the different procedures and format for the evaluation of researchers, to identify their in/ability to proficiently use these tools and to study the suitability of each tool to different profiles.
- Indicadores SPA para avaliação da performancePublication . Alves, Diana; Malheiros, Cátia; Gomes, ConceiçãoIn recent years we have witnessed a significant increase in the number of spas inside and outside hotel units. Hotels are facing a complementary activity to the traditional services of accommodation and food and beverages which represents a determining and differentiating factor for the demand. On the other hand, there is a need to develop tools to support decision making in order to develop good management practices in order to achieve positive results and to survive in an increasingly dynamic and globalized economic environment. In terms of management accounting, the Uniform System of Financial Reporting for spas (USFRS) represents the first uniform accounting system applied to the economic activity of the spas. This system allows the development of ratios and statistics to analyse companies and their comparability The objective of this article is the elaboration of an exploratory study in order to ascertain the existing tools at the level of literature in the support to the management of the spas, namely the adaptation of the USFRS and the operational ratios. In order to ascertain the truth of the facts, the study of a single case for convenience was used for the elaboration of a tableau de bord where relevant indicators are referenced for the evaluation of the performance of the spas. For a spa to be financially successful it is extremely important to have a management control with the use of various pilot instruments such as tableau de bord. Revenue per guest, revenue per treatment and revenue per square foot are operational ratios that should form part of the management control of a spa.
- Impact of Management Indicators on the Business Performance of Hotel SMEs in MexicoPublication . Brito, Antonio Emmanuel Pérez; Zapata, Martha Isabel Bojórquez; Lima Santos, Luís; Gomes, ConceiçãoEmpirical studies on management control and business performance are growing. However, a research gap exists regarding the tourism development/hotel small- and medium-sized enterprises (SMEs), particularly in terms of administrative management and organizational functions. Hence, drawing from the principles of management control, specifically about the utilization of business performance evaluation techniques, this study aimed to construct a business performance index for hotel SMEs in the state of Yucatán, Mexico. To this end, the index evaluated multiple variables including investment, profitability, financing sources, operating metrics, and the utilization of financial information. To accomplish the goals, this study administered surveys to the proprietors/administrators of 139 hotel SMEs. It employed a quantitative approach and utilized the multiple linear regression model with the forward technique. Its findings demonstrate that the utilization of financial information and funding sources have the most substantial correlations with business performance. As theoretical and practical implications, a business performance index arose, replying to the needs presented by the Mexican Association of Hotels in Yucatán.