Publication: Efectos de la diversificación en el binomio rentabilidad-riesgo. Un análisis del sector hotelero
Authors
López Picos, Yolanda ; Otero González, Luis ; Lado Sestayo, Rubén
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Publisher
Escuela Universitaria de Turismo. Universidad de Murcia
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DOI
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info:eu-repo/semantics/article
Description
Abstract
Este trabajo analiza los efectos de la diversificación en la
rentabilidad y en el riesgo en una muestra del sector hotelero. Para
lograr el objetivo planteado se utiliza un modelo econométrico que
analiza diversas medidas de diversificación, tales como la oferta de
restaurante, la oferta de salones para eventos o la categoría, entre
otros. Los resultados obtenidos confirman que los hoteles que
ofrecen servicio de restauración presentan un menor riesgo, si bien
no existe un efecto positivo sobre la rentabilidad. Por otra parte, la
diversificación del negocio a través de la orientación al turismo
MICE afecta negativamente a la rentabilidad y no contribuye a que
el resultado sea más estable. Esto significa que los hoteles que
diversifican a través de una oferta complementaria logran reducir la
variabilidad de la rentabilidad económica, mientras que aquellos
que deciden diversificar orientándose a nichos de mercado no
consiguen el resultado esperado.
ABSTRACT: This paper analyzes the effect of diversification on profitability and risk in a sample of the hotel sector. In order to achieve the proposed objective, an econometric model is used that analyzes diverse measures of diversification, such as the restaurant offer, the offer of room for events or the category among others. The results confirm that hotels offering restaurant present a lower risk, although there is no positive effect on profitability. On the other hand, the diversification of the business throug h the MICE tourism orientation adversely affects profitability and does not contribute to a more stable result. This means that hotels that diversify through a complementary offer reduce the variability of profitability, while those that decide to diversif y in the direction of niche markets do not achieve the expected results.
ABSTRACT: This paper analyzes the effect of diversification on profitability and risk in a sample of the hotel sector. In order to achieve the proposed objective, an econometric model is used that analyzes diverse measures of diversification, such as the restaurant offer, the offer of room for events or the category among others. The results confirm that hotels offering restaurant present a lower risk, although there is no positive effect on profitability. On the other hand, the diversification of the business throug h the MICE tourism orientation adversely affects profitability and does not contribute to a more stable result. This means that hotels that diversify through a complementary offer reduce the variability of profitability, while those that decide to diversif y in the direction of niche markets do not achieve the expected results.
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