How hotel owner-operator goal congruence and GM autonomy influence hotel performance

Ownership structure and firm performance of listed tourism firms

“…The current study argues that it is a challenge for tourism firms, which are operated in a changing environment, to maintain consistent performance. To maintain firm performance in an unstable market, controlling owners' interest alignments with other shareholders are particularly important for tourism firms (Hodari et al, ). The controlling owners have a large share ownership, which is the incentive for them to directly get involved in firm operation (Li & Qian, ).…”

“…Under enhanced supervision, the managers are more likely to behave with alignment to the interests of the owners, which in turn positively influences firm performance (Gottschalg & Zollo, ; J. Wang, Guthrie, & Xiao, ). More importantly, interest alignments among owners in tourism firms help to reduce uncertainty in a changing market because such alignments lead to cohesion, collaboration, and effective managerial decisions (Hodari et al, ; Ku, Wu, & Lin, ; C. M. Yeh, ). Therefore, it is more likely that tourism firms with controlling owners with high cash flows will survive in a changing market.…”

“…For tourism firms to survive in this turbulent market, they must have an ownership structure that helps make timely decisions to properly respond to changing customer demands (C. M. Yeh & Trejos, ). Because of this, a high level of cash flow rights of controlling owners is more advisable due to the fact that interest alignments among owners facilitate effective collaboration, communication, and managerial decisions in tourism firms (Hodari, Turner, & Sturman, ).…”

Examining Ownership Equity as a Psychological Factor on Tourism Business Failure Forecasting

“…Although businesses are commonly interconnected via financial issues and concerns (Fotiadis et al, 2019b), all business enterprises are also inescapably affected by their owners (Hodari et al, 2017). Theories have examined businesses inclusive of both financial and human aspects (Smith et al, 2016;Fotiadis et al, 2019a).…”

Revisiting the relevance of economic theory to hotel revenue management education and practice in the era of Big Data

“…Hotel markets have changed dramatically over recent years and will likely continue to be subject to change and evolution. This is driven on the supply side by changes in the terms of hotel ownership, which has increased the complexity of hotel management through the addition of multiple layers of stakeholders in complex management contracts and franchises (Melissen et al, 2016;Hodari et al, 2017), such as the rising importance of the asset manager (Singh et al, 2012). On the demand side, the increased transparency of price information and the ease and quality in which pricing information is delivered to customers through the internet is increasing the challenge for hotel managers in setting pricing strategies that cannot be accurately anticipated by customers.…”