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The purpose of this study is to inspect factors influencing profitability in the Italian hospitality industry during the period 2008-2016.

This paper examines the profitability and its determinants using a sample of 2,366 Italian hotels. The author applies a multidimensional measure of profitability comprising return on equity, return on assets, occupancy rate and gross operating profit per available room. The author investigates variables influencing performance and includes them into five groups: market variables, business model, ownership structure, management education and control variables.

The results show that financial crisis, business model and ownership structure affect hotel firms’ profitability. Particularly, findings suggest that size, internationalization, location, accommodation as first activity and chain affiliation influence profitability positively.

Results confirm the importance of firm-specific factors for evaluating the profitability of a hotel firm. Findings also provide new evidence for academics to assess factors that would guarantee profitability of hotels in developed countries such as Italy.

This investigation offers valued information and strategic suggestions for hotel investors, hotel owners, hotel managers, tourism playmakers and government.

This paper offers an in-depth examination of the practices and characteristics of profitable hotels in Italy. Few empirical studies examined the determinants of performance in the European and Italian hospitality field so far. Hence, this study attempts to bridge the gap in prior literature on profitability of the Italian hospitality industry.

By adopting network analytic techniques, this paper aims to examine interlocking directorates among firms operating in the hospitality services sector in seven major Italian tourism destinations.

The authors collected information for all the hotel corporations whose headquarters are located in the seven top Italian destinations: Florence, Milan, Naples, Rimini, Rome, Turin and Venice. Data come from the Analisi Informatizzata delle Aziende Italiane database by Bureau Van Dijk and were used to build a network where the nodes are board members (people) and corporations (hotels) and the links represent the membership of individuals in the boards. From this, with a one-mode projection, the authors obtain two networks: people and corporations. The overall networks’ structures are analysed by assessing their connectivity characteristics.

The findings indicate a relatively low number of interlocks that signals a high degree of fragmentation, showing that the interconnections (both within and between destinations) are scarce. This suggests that in absence of formalized cooperation arrangements, corporations might collaborate informally.

This work extends previous research on complexity in business settings, focusing specifically on service companies whose output depends on multiple interactions and helps clarifying coopetition practices of hospitality service firms. Policymaking perspectives are discussed as well as managerial viewpoints.

Not many studies of the interlocking directorates in the hospitality domain exist. This paper uses network analysis for a better understanding of the cooperative practices and the formal social structures of the Italian hospitality industry and derives a series of implications important for both researchers and practitioners while also looking at potential future studies.

There is a lack of research proving how electronic word-of-mouth (eWOM) is a valuable source of information in the hospitality industry for developing hotels' intellectual capital. To fill this gap, this study aims to examine hotel managers' decision-making processes regarding the acceptance and management of eWOM and its impact on the Italian hotel ecosystem.

This work takes advantage of the previous contributions to present a hotel's decision-making process model regarding structural capital. It includes eWOM as a context variable and changes implemented as a dependent variable in a comprehensive model. The structural equation modelling applies to a database obtained through a survey addressed to Italian hotel managers.

The results show that eWOM plays an essential role in managers' motivations to explain hotel changes implementation. The hotel leverages eWOM information and interaction through structural, relational and human capital to enhance products, services and strategies.

This work contributes to the extant literature by providing a comprehensive framework to explain the consequences of eWOM knowledge management from the intellectual capital view in the Italian hotel ecosystem.

For practitioners, this research demonstrates how hotel managers should accept and manage eWOM knowledge through intellectual capital to make determinant decisions that improve hotel performance.

There is a scarcity of research on modelling the acceptability and management of eWOM in the hotel ecosystem from practitioners' perspectives. This work is the first attempt to determine how eWOM knowledge management boosts hotel intellectual capital and improves service innovation and performance.

The purpose of this study, which is grounded in decision-making theory, is to explore whether the occurrence of meaningful coincidences can positively influence executive confidence during periods of crisis.

Through a qualitative study with 24 interviews, this study focuses on Italian hospitality facilities in the Campania Region of southern Italy to explore how an executive confidence led by meaningful coincidences can influence managerial decisions during crisis situations. Data are analyzed through a deductive coding for qualitative analysis.

The framework proposes the connection by coincidences and confidence, emphasizing the process through which meaningful coincidences can positively influence executive confidence and managerial decision-making. The insights that emerge suggest a number of positive and beneficial aspects for decision-making during a period of crisis such as the COVID-19 pandemic.

To the best of the authors’ knowledge, this is the first study in the literature aimed at investigating, by means of qualitative methodologies, the positive outcomes of executive confidence in decision-making led by meaningful coincidences during crisis periods in the specific context of the Italian hospitality industry.

The paper aimed to explore the underlying work engagement role in transformational leadership and employees' job performance relationships. Moreover, this study also looked at the moderation of leaders' managerial skills in the transformational leadership and work engagement nexus.

The time-lagged data of 360 followers — leader dyads nested in 71 teams were collected from star-rated hotels in Italy and structural equation modeling (SEM) analysis was executed.

Based on social learning theory and idiosyncrasy credit theory, the SEM results demonstrate that transformational leadership is significantly and positively linked with job performance and work engagement mediated this relationship. The results also confirmed that leaders' managerial skills strengthen the transformational leadership and work engagement nexus.

Hotel managers should consider hiring individuals with transformational leadership skills and provide training to Polish their managerial skills in order to enhance employee engagement at work, which may result in job performance.

With this study, the researchers emphasize the significance of transformational leadership and work engagement for better job performance in the Italian hospitality industry. Our analysis also provides new evidence that leaders' managerial skills strengthen the transformative leadership and work engagement nexus. The study is one of the first to investigate the boundary conditions of leaders' managerial skills in the transformational leadership and work engagement relationship. Based on the findings, the practical and theoretical contributions are also discussed.

In this article, the authors analyse the impact of the 2020 lockdown and the subsequent measures to contain the spread of COVID-19 in Italy in the hospitality industry by looking at the social demands brought forward by the restaurant sector.

To analyse social demands, the authors choose Twitter as an observation point using two hashtags as keywords to scratch the data: #iononriapro and #ioapro, which correspond to two different instances conveyed by the same subject: the restaurant sector. The instances linked to the hashtags produced different levels of engagement and penetration within the social structure and digital platform. To analyse the first block of data linked to the first hashtag-flag #iononriapro, the authors used content analysis. To analyse the second and third block of data linked to the hashtag-flag #ioapro, the authors used an automatic procedure, emotional text mining.

The analysis procedures allow us to reconstruct the positioning of the topics of closures and reopenings due to lockdown in this sector and to identify two explanatory dimensions: structural and affective, which explain the tension that has emerged between the State and the restaurant sector around COVID-related closures.

The study's findings not only contribute to the current understandings of the birth, transformation and penetration of social issues by the restaurant sector over the specific period linked to the COVID-19 pandemic and the measures imposed for its containment but are also valuable to analyse the dynamics through which Twitter hashtags and the social issues they represent find strength or lose interest in the public.

The purpose of this study is to investigate the link between top management team (TMT) gender diversity and firm risk-taking in hospitality companies. The study also links female leadership to risk-taking. Finally, this study examines the moderating effects of TMT incentive pay and TMT age on the relationship between TMT gender diversity and firm risk-taking.

This study uses an unbalanced data set of 81 hospitality firms and 888 firm-year observations over the period of 1992–2020. The study uses fixed-effects regression estimation for primary analyses and addresses potential endogeneity concerns via two-stage least square regression with firm fixed-effects instrumental variable regression. Risk-taking is measured by total firm risk (i.e. the annualized volatility of daily stock returns). Main results are supported with alternative measures of firm risk and estimation methods.

The study finds that increasing TMT gender diversity leads to a reduction in firm risk-taking in the hospitality industry. Moreover, the study finds that hospitality firms led by a female CEO experience lower firm risk compared to firms led by a male CEO. Finally, the study finds evidence that the relationship between TMT gender diversity and firm risk is contingent on the level of incentive pay awarded to TMT members and the age of TMT members. Increasing incentive pay and aging executive teams decrease the risk reduction effect of TMT gender diversity.

The findings of this study recommend that firm risk-taking in the hospitality industry is related to gender diversity in TMTs. Hence, the board of directors should pay attention to gender composition for executive positions for risk management. Moreover, the results also suggest that care should be exercised when using incentive pay to align the interests of managers and shareholders. Finally, the board of directors needs to consider both gender diversity and age of the TMT members for TMT composition to manage executives’ risk-taking behavior.

This study fills a research gap in the hospitality literature by providing empirical evidence for the link between TMT gender diversity and firm risk-taking. Additionally, the study introduces incentive pay and age of TMT as contingency factors for the link between TMT gender diversity and firm risk-taking.

In recent years, tourists have become more interested in discovery the authenticity of a destination. The albergo diffuso (AD) is a response to this new requirement of tourist experience. The AD indeed is based on an accommodation solution with rooms distributed in various buildings across a village. The purpose of this study is to analyze the AD business model supporting the development of this emerging business opportunity in the accommodation industry.

The research is conducted with a multiple case study approach, collecting data from different sources such as semi-structured interviews and archival research. The cases are all located in Italy where the AD was applied for the first time.

The AD business model is based on business idea, value creation and innovation. The business idea is based on the aim to contribute to the renaissance of a village with an emotional link between the entrepreneur and the village. Regarding the value creation, the AD is a form of accommodation that offers more than a hotel experience. The tourist can live like a resident and experiencing local traditions and culture. The innovation is indeed related to the services that are totally different from a traditional hotel.

Considering the previous studies, this research tries to fill the gap concerning the necessity to define the characteristics of the AD business model and to understand the key elements at the base of this hospitality approach.

The article investigates different types of strategies for managing user-generated content (UGC) and provides some insights into their implications.

A unique sample of Italian hotels with current and prospective customers in the digital environment is investigated. A taxonomy of user-provider interactions mediated by UGC is developed. A mixed approach was designed to meet the study aims. Firstly, an exploratory factor analysis was performed in order to illuminate different strategies of UGC and electronic word-of-mouth (E-WOM) management. Secondly, a cluster analysis was implemented in order to explain hoteliers' behavior toward users' contents.

The study results suggested the existence of three clusters, which reflected three different types of interactions between hotels and customers in the digital domain. Interestingly, most of Italian hotels were found to adopt a reductionist approach to UGC and E-WOM management, turning out to be ineffective to exploit them for the purpose of quality improvement and hospitality service excellence.

Hotels were found to be largely unaware of the importance of UGC and web-based communication with customers to improve their digital business strategy. Tailored management approaches are needed to realize the full potential of hotels' online content responsiveness for the purpose of value co-creation and service co-production.

This is one of the first studies investigating the strategic and management perspectives embraced by hotels to handle their interactions with customers in the digital arena.

The aim of this paper is to assess the performance of different widely-adopted models to forecast Italian hotel occupancy. In particular, the paper tests the different models for forecasting the demand in hotels located in urban areas, which typically experience both business and leisure demand, and whose demand is often affected by the presence of special events in the hotels themselves, or in their neighborhood.

Several forecasting models that the literature reports as most suitable for hotel room occupancy data were selected. Historical data on occupancy in five Italian hotels were divided into a training set and a test set. The parameters of the models were trained and fine-tuned on the training data, obtaining one specific set for each of the five Italian hotels considered. For each hotel, each method, with corresponding best parameter choice, is used to forecast room occupancy in the test set.

In the particular Italian market, models based on booking information outperform historical ones: pick-up models achieve the best results but forecasts are in any case rather poor.

The main conclusions of the analysis are that the pick-up models are the most promising ones. Nonetheless, none of the traditional forecasting models tested appears satisfactory in the Italian framework, although the data collected by the front offices can be rather rich.

From a managerial point-of-view, the outcome of the study shows that traditional forecasting models can be considered only as a sort of “first aid” for revenue management decisions.