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The purpose of this paper is to understand the main determinants that affect accommodation purchase intentions through lodging websites in sharing economy context. This industry differs from the hotel industry because it is a community marketplace with a growing community of users where renters can monetize their extra space and list their properties to an audience of millions while travelers can find unique accommodation at any price point.

The authors examine factors such as perceived lodging value, perceived lodging price, lodging information, online lodging reviews, trust with the host, website usability and perceived privacy/security of the website, and measure their relationships with purchase intentions. Based on an online survey data, the structural model test outcomes explain the direct effect of the exogenous variables on purchase intentions and the mediating effect of perceived lodging value between perceived lodging price and purchase intentions.

The study demonstrates that the six latent factors and proposed associations have positive effects on purchase intentions. Thus, enterprises operating in the online lodging industry should consider these elements as key antecedents of lodging purchase intentions.

Lodging websites operate in a highly competitive market where they have to compete with hotel operators, hostels, bed and breakfasts and hotel comparison websites in current sharing economy. In addition, consumers usually spend a great deal of time and effort on online pre-purchase evaluation because of the ease of the information gathering process where consumers can find a wide variety of options online. Therefore, understanding the drivers that convert browsers into renters is a topic of great interest among marketing managers in the current sharing economy context.

This study aims to empirically investigate agency and stewardship theories in the US lodging market by examining the influence of fiscal and non-fiscal leadership structures on the debt financing decisions of lodging firms.

Secondary financial data have been collected for USA-based lodging firms. Subsequently, bivariate correlation, pooled ordinary least square) and endogeneity analyses have been performed on the data.

The findings support the significant influence of some corporate governance attributes on the capital structure of US lodging firms and show the limited applicability of agency and stewardship theories.

Theoretical and managerial implications are suggested in terms of balancing leadership structure attributes from the agency and stewardship theories, the capital structure of lodging firms and the future research.

Despite its importance considering the intensive capital and relatively high liabilities needed for success in the lodging industry, the influence of leadership structure on capital structure has not been examined either empirically or theoretically. Leadership structure attributes, both fiscal and non-fiscal, are included in the study to gain a richer understanding of their influence. The outcomes of the analysis suggest managerial implications for leadership structure as well as theoretical generalizability for agency and stewardship theories within the lodging industry.

The purpose of this paper is to investigate the factors affecting capital structure decisions of Istanbul Stock Exchange (ISE) lodging companies.

A model based on the trade‐off and pecking order theories is specified and implications of both theories are empirically tested. The model is estimated using a dynamic panel data approach for five ISE companies for the period of 1994‐2006.

The findings suggest that effective tax rates, tangibility of assets, and return on assets are related negatively to the debt ratio, while free cash flow, non‐debt tax shields, growth opportunities, net commercial credit position, and firm size do not appear to be related to the debt ratio. Although the findings partially support the pecking order theory, neither the trade‐off nor the pecking order theory exactly seem to explain the capital structure of Turkish lodging companies.

The data used in this paper are limited to five companies traded in the ISE, since the data on other companies are not available. A more detailed analysis would use data for other companies in the industry.

The findings of the study clearly demonstrate the importance of capital structure decisions for financial sources.

Although the capital structure theory is extensively examined in the finance literature, there are fewer studies covering the tourism industry, particularly Turkey. The paper establishes the determinants of the capital structure of Turkish lodging companies. The research findings should help managers to make optimal capital structure decisions.

The purpose of this study is to investigate the moderating role of CEO duality on the geographic diversification–firm performance relationship in the US lodging industry.

To examine the individual effect of geographic diversification and the moderating effect of CEO duality, this study adopts random effects regression. Additionally, to appropriately address the endogeneity issue, this study uses random effects regression with the instrumental variable method. The sample period spans 1990-2015 and 258 firm-year observations are included.

This study finds that geographic diversification has a positive and significant effect on firm performance. Also, the result shows a positive and significant moderating role of CEO duality, which implies that the magnitude of the impact of geographic diversification on firm performance is significantly greater when CEO duality exists.

Although it has a limitation of applying the results of this study to privately held lodging firms in other countries, US public lodging firms are encouraged to consider a corporate governance structure incorporating CEO duality to maximize the effect of geographic diversification on firm performance.

This study contributes to the hospitality literature by providing a unique dimension that the influence of geographic diversification is contingent on the adoption of CEO duality. And, the results of this study provide practical guidelines for the lodging firms’ implementation of geographic diversification.

The purpose of this paper is to compare traditional methods of estimating the cost‐of‐equity (capital asset pricing model and Fama and French three‐factor model) with a new approach, implied cost‐of‐equity method, to provide lodging analysts, investors, executives and researchers with a more reliable way to estimate cost‐of‐equity.

The study uses data from publicly traded lodging firms in the USA that provide all necessary financial data for cost‐of‐equity estimation. The data range from 1976 to 2005.

The study finds that the price‐to‐forward earnings (PFE), using the implied cost‐of‐equity (ICE), approach, estimates cost‐of‐equity of publicly‐traded lodging firms more reliably, compared with CAPM.

The study recommends that lodging industry analysts, investors, executives and researchers adopt the ICE approach, especially using the PFE model, to estimate cost‐of‐equity of publicly‐traded lodging firms.

The study attempts to provide a more reliable approach to estimate cost‐of‐equity for publicly‐traded lodging firms, specifically compared with the traditional approach, the CAPM.

The paper aims to provide empirical evidence that certain financial characteristics are critical for lodging firms to earn a higher profit. Further, it proposes, perhaps more importantly, a robust empirical framework for identifying outperformance in profitability, which has been barely studied in the lodging industry.

The paper employed logit models, under the framework of comparative advantage theory, to explore the relationships between firm financial characteristics and outperformance from a financial perspective.

This study, for the first time, provides systematic empirical evidence on how to identify lodging firms that outperform their competitors over time. From a practical standpoint, owners and managers should use industry medians to benchmark financial performance, focusing on factors such as leverage, book to market, asset turnover, and firm size to ensure financial performance leadership among lodging firms. Moreover, echoing previous research, a franchise appears to help differentiate an outperforming firm from its competitors in a positive way.

Because of the chosen research framework, the study results need to be interpreted with caution. Specific suggestions appear in the section of limitations and future research.

The paper includes implications of general guidelines to identify financial characteristics that differentiate outperforming firms from their competitors as well as some specific action plans for investors, practitioners, and researchers to consider.

This paper is the first one that provides systematic empirical evidence on how to identify lodging firms that outperform their competitors over time, thus shedding lights on what financial characteristics lodging firms should keep a close eye on for a better future.

The purpose of this paper is to understand several key issues regarding technology strategies for the lodging industry, including the use and impact of technology, technology adoption and implementation, the role of organization technology environment in technology use, channel management strategies, as well as future trends of technology development.

Qualitative interviews are conducted with hotel practitioners to gain knowledge in order to help explore issues and generate hypotheses for future research regarding information and communications technology (ICT) applications in the lodging industry.

The research finds that technology will continue to impact guest service and customer relationship management in the lodging industry, and that companies vary in their implementation and use of the technology applications.

Using qualitative research limited the number of hotels that could be interviewed; as a result, the findings cannot be generalized to every hotel.

Hotel owners and managers can look at the various trends and determine which can help their guest service, focusing on providing added value to guests.

The paper provides insight from the viewpoints of practitioners rather than just from technology experts.

The purpose of this paper is to unveil and discuss the importance of factors determining the internet innovation for external relations in the lodging industry. These external relations include those with customers, other businesses and administrations (B2C, B2B, B2A)

Empirical evidence extracted from a sample of tourism lodging establishments in the Balearic Islands has been used to unveil the determining factors of internet innovation in the lodging industry. The lodging industry has been chosen in order to preserve a certain internal homogeneity since it has been shown previously that the innovation adoption process differs across economic sectors. The factors affecting internet innovation in external relations arise from the estimation of the discrete choice econometric models that represent these firms' decisions.

It was found that certain factors increase the probability that the lodging industry innovates through the use of internet for external relations, i.e. larger establishments, lower seasonality – months per year an establishment remains open; and positive managerial attitudes towards the internet, all have a positive relationship with internet innovation.

Competitiveness of tourism destinations depends on the innovation abilities of its firms. Government and tourism managers should foster the factors that affect them positively. To this extent, some practical implications can be extracted: first, the need for governments to implement specific policies aimed at smaller establishments, since those are the ones that have more difficulties bridging the technological innovation process; second, the need for administrations to adopt a global vision that includes the whole tourist destination; third, the appropriateness of internet innovation in order to improve the seasonal distribution of tourist flows, which is one of the common weaknesses of the tourism sector; and finally, the need to address managers in order to increase their awareness with respect of the usefulness of information and communication technology innovation, and encourage a proactive posture towards it.

The paper contributes to a better understanding of the innovation determinants in service sectors and specifically in the lodging industry. Apart from traditional factors that affect internet innovation, such as size of the establishment, number of months opening, etc., the paper includes and measures the effect of managers' attitudes and opinions towards internet innovation. Finally, the findings obtained may suggest certain guidelines to help tourism destination managers to address their competitiveness policies.

Introduction The hospitality field, which incorporates both the restaurant/food services industries and the lodging industry, is one of the most important industries in the United States. The restaurant industry alone is the third largest industry in the nation. Those employed in food services, such as waitresses, cooks, and bartenders, represent the largest group — or one‐third — of all service workers in the country. The hotel industry employs a million workers, and along with the restaurant/food services industry, expects employment to increase through the 80s. All told, the hospitality field is one of the nation's largest, and fastest growing.

The purpose of this paper is to investigate US lodging properties’ organizational employee‐retention initiatives and practices, and to examine the impact of those initiatives on employee turnover and retention.

Using the Directory of Hotel & Lodging Companies, a convenient sample group of 24 management companies are selected. A self‐administered mail survey instrument is developed to measure and test organizational initiatives and practices on employee turnover and retention. Using SPSS 16.0, two statistical tests are employed to test study hypotheses. Correlation analysis is used to identify the relationships between predictor and response variables. Likewise, regression analysis is used to examine the relationships between predictor and response variables hypothesizing that the effectiveness of practicing the human resource management organizational initiatives on management and non‐management retention and turnover will differ.

The findings reveal that Corporate Culture, Hiring and Promotions and Training practices influence non‐management employee retention. At the same time, Hiring and Promotion practices impact management retention, as well. Moreover, Organizational Mission, Goals and Direction, and Employee Recognition, Rewards and Compensation were found to positively reduce non‐management employee turnover.

Owing to the study methodology and the relatively low response rate, generalization of the study findings is limited. Future replication studies are recommended.

The findings will equip lodging organizations and industry professionals with the contemporary tools to proactively reduce employee turnover and for maintaining employee retention. This should have a positive impact on workforce productivity.

This study makes a major contribution to the relative influence of the practice of eight study‐defined organizational initiatives on turnover in lodging businesses.