Purpose: The aim of this study is to analyze the existence of a relationship between the presence of nearby substitute products, mainly Airbnb flats or rooms, and the effect on the revenue and profitability of hotels. Design/methodology:The empirical study is based on the analysis of financial information provided in the annual reports of a sample consisting of 43 hotels (11.78% of the population).As an explanatory variable for profitability, we have considered the presence of apartments listed in Airbnb that are no farther than one kilometer from each hotel. Considering that most of the variables used do not follow a normal distribution, the existence of a relationship between profitability and the explanatory variables has been tested using non-parametric tests, namely, the Spearman correlation coefficient and Kruskall-Wallis test. Findings:We found a positive correlation between presence of Airbnb apartments and return on equity. This fact can be explained by considering the presence of Airbnb apartments as a variable that measures the attractiveness of the location from a tourist's point of view. Hotels -147-Intangible Capital -http://dx.doi.org/10.3926/ic.921 located near the city center or main tourist areas of the city have a higher level of profitability.We also found no evidence of any relationship between profitability and star category; 4-and 3-star hotels have experienced, on average, a lower drop in revenues between 2008 and 2013 and they also obtained a higher average level of profitability in 2013 as compared to the upper segment of 5-star hotels. Research limitations/implications:This research has been conducted in the city of Barcelona. Future research using the same methodology should be applied to other cities with an important hospitality sector to reinforce our findings. The main implications of this research refer to the importance of location as a key strategic variable in hospitality, and to the change in the system customers use to evaluate the quality of a hotel, according to which the traditional star category system has been partially replaced by new sources of information available through the new communication technologies.Originality/value: This paper is one of the first contributions that scholars have made to obtain a deeper understanding of the effects of the new forms of the sharing economy, focusing on the hospitality industry.

Abstract:The hospitality industry is facing major challenges, among them the new competition from novel forms of supply in the sharing economy. Airbnb, Homeaway, and Niumba, among other websites offering accommodations, are having an important impact in the sector, changing existing conditions and the market for the traditional hospitality industry. In this context, a strategy based in differentiation can help to prevent drops in revenues and profitability. The main objective of this paper is analyse if commitment towards sustainability has a positive impact on financial performance and can be considered a positive strategy in this new environment. The empirical data refer to a sample of hotels in Barcelona, one of the most important tourist cities in Europe. Our results suggest that there is no clear relationship between sustainability and better financial performance; however, sustainability commitment is associated with a minimum size, which can also have positive effects in terms of economies of scale and finally affect profitability. Hotels more committed to environmental issues are located in areas with a lower density of Airbnb apartments, and this geographical distribution can be more positive than a situation of massive tourist concentration in specific areas with negative externalities for neighbours.

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Abstract:(1) Background: The consequences of the recent economic crisis have shown the need for promoting certain key skills in future entrepreneurs to create enterprises that are capable of producing added value, generating employment and remaining solvent or growing in a competitive and highly volatile environment. Therefore, the issue is not simply a matter of creating more businesses, but rather, a model based on organizations with strong sustainable values in the long term. (2) Methods: The originality and new approach of this article is to establish, through an empirical approach, the link between the entrepreneurial skills and environmental and social commitment in times of crisis. Based on the analysis of a questionnaire answered by MBA students and using structural equation modelling, the relation between entrepreneurial skills, social and environment commitment are tested. (3) Results: The statistical analysis proved the existence of a positive relation between entrepreneurs' skills and environmental and social commitment pointing out the importance of sustainability commitment as a source of high added value activities. (4) Conclusion: The paper demonstrates that investing in the promotion of entrepreneurial skills in education systems has positive effects on how future entrepreneurs will manage their firms. Therefore, this sustainably depends on the present education policies.

Purpose The purpose of this research is to analyse how to adapt teaching and learning methodologies to new generations of digital natives to promote their commitment to sustainable development. The research explores the existence of a relationship between digital natives’ characteristics, individual dynamic capabilities and their commitment to innovation and therefore to sustainability. Design/methodology/approach A structural equation model is used to test the proposed hypothesis by a survey conducted with 532 digital-native higher education students. Findings The results show the existence of a significant relationship between digital natives’ competences, individual dynamic capabilities and a better approach to managing situations with regard to relationships with key stakeholders and the fostering of innovation and commitment to the social and environmental issues demanded by society. Research limitations/implications The limitations of this study are that it is based on a sample from a specific Spanish university that cannot be representative of all digital natives from all universities and different cultural contexts. The variables measuring the characteristics of digital natives have only recently been used in the academic literature. Practical implications The research proposes including individual dynamic capabilities and innovation courses in sustainable development education to accelerate the implementation of sustainable development goals. These research findings can be used as insights into the development of university programmes and courses. Originality/value This research is one of the first attempts at understanding how to promote education for sustainable development among digital natives and at identifying them as future change makers for sustainable development.