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The objectives of this chapter are: first, to analyze the magnitude of the COVID-19 impact on homestay business in Bali and second, to identify the most significant determinant of COVID-19 to the homestay industry. It hopes that the results would contribute to policy recommendations and business strategies to increase the resilient capacity of the homestay business during the pandemic period. Due to the pandemic situation, 74 respondents of homestay owners were interviewed through an online survey (Google form). The data gathering was through three events of focus group discussion and several in-depth interviews. Partial Least Squares regression and descriptive statistics were applied. The result shows that, first, the COVID-19 pandemic has a considerable decreasing impact on the (1) homestay occupancy rate, (2) homestay characters (room rental price), (3) homestay competency capital, (4) provided facilities, and (5) guest composition. Second, during the global pandemic, the homestay business association, the number of media promotions, the number of room booking channels, and the homestay characters significantly impact the homestay occupancy rate. Third, to increase the demand for tourism, appropriate measures and policies should be taken, such as increasing the travel bubble consent, mobilizing central government officers working in Bali, increasing the number of domestic promotions, and only using an effective and efficient room booking channel.

The purpose of this chapter is to present the key issues and main aspects of financial management, which also constitute the main concerns of a prospective entrepreneur.

This chapter takes a perspective of the small business/prospective entrepreneur and analyses how the methods, tools and techniques of financial management can be helpful in operating the business venture. Literature review was conducted on main issues and aspects of financial management.

This chapter builds on extant bibliography to discuss the key issues and main methods of financial management. For any business, irrespective of size, to carry on its operations and achieve its objectives, financial resources are required, and such resources must be managed efficiently and effectively.

This study is explorative in nature because the discussion is mostly based on a literature review. It takes more entrepreneurial/practical than academic approach.

To contribute to the successful and sustainable operation of a tourism venture, this chapter outlines the key financial issues and presents in a practical way the main methods and techniques used when making operational and investment decisions.

This chapter attempts to equip a prospective entrepreneur with the background knowledge (main competencies), as well as the principal methods and techniques (skills) for managing the financial resources of a venture.

This study explores the short- and medium-term effects generated by the Milan Expo 2015, adopting a microeconomic approach. The focus is on the hospitality sector. The study embraces nine years, identifying three intervals: pre- (2011–2014), during- (2015) and post-Expo (2016–2019). The time span does not include the Covid-19 pandemic period, which started in 2020. The dataset is composed of daily data. Three research questions are explored. First, an overall evaluation of the short- and medium-term effects is performed. Second, the seasonal effects are measured. Finally, the impacts for different classes of hotels are considered. The findings are supportive for the legacy generated by the Milan Expo. The results confirm the ability of the Milan Expo to strengthen the leisure segment. Positive results have been observed for all classes of hotels, relevantly augmenting the real revenue per available room (RevPAR). Luxury hotels achieved the highest increase of RevPAR, while economy class hotels registered the highest percentage of increase of RevPAR.

Estimation of (in)efficiency became a popular practice that witnessed applications in virtually any sector of the economy over the last few decades. Many different models were deployed for such endeavors, with Stochastic Frontier Analysis (SFA) models dominating the econometric literature. Among the most popular variants of SFA are Aigner, Lovell, and Schmidt (1977), which launched the literature, and Kumbhakar, Ghosh, and McGuckin (1991), which pioneered the branch taking account of the (in)efficiency term via the so-called environmental variables or determinants of inefficiency. Focusing on these two prominent approaches in SFA, the goal of this chapter is to try to understand the production inefficiency of public hospitals in Queensland. While doing so, a recognized yet often overlooked phenomenon emerges where possible dramatic differences (and consequently very different policy implications) can be derived from different models, even within one paradigm of SFA models. This emphasizes the importance of exploring many alternative models, and scrutinizing their assumptions, before drawing policy implications, especially when such implications may substantially affect people’s lives, as is the case in the hospital sector.

Federal and state governments collaborate on state Medicaid nursing facility long-term care (SMNF-LTC) programs. These programs are increasingly expensive as the baby-boomers retire. Yet serious resident outcome problems continue in spite of the Centers for Medicare and Medicaid Services’ (CMS) extensive process-focused regulatory efforts. This study identifies a promising and simpler auxiliary path for improving resident outcomes.

Drawing on a longitudinal (1997–2005), 48-state data set and panel-corrected, time-series regression, we compare the effects on resident outcomes of CMS process-focused surveys and four minimally regulated program structural features on which the states vary considerably.

We find that each of these four structural features exerts a greater effect on resident outcomes than process quality.

We suggest augmenting current process-focused regulation with a less arduous approach of more extensive regulation of these program features.

To date SMNF-LTC program regulation has focused largely on member facility processes. While regulating processes is appropriate, we show that regulating program structural features directly, an arguably easier task, might well produce considerable improvement in the quality of resident outcomes.

We investigate outcomes associated with the turnover of unskilled workers, isolating its effects on revenue, cost, and profit. Little attention from researchers has been given to unskilled workers, a significant portion of the workforce.

This study investigates the relation between turnover among unskilled workers and financial performance using data from 527 hotels owned by the same lodging chain. The workers in our sample are full-time housekeepers and front desk attendants.

We find that the relation between turnover and performance differs by turnover type (voluntary vs. involuntary) and category of unskilled worker, reiterating the need to differentiate between turnover type and the importance of context in studying turnover. We challenge the assumption that voluntary turnover is categorically harmful and our results for front desk attendants support the view that organizations choose turnover levels that maximize performance. We also provide new evidence on the effects of involuntary turnover. Contrary to the established notion that dismissing less able employees should improve performance, we find that involuntary turnover has negative consequences.

Our results demonstrate the importance of distinguishing voluntary turnover from involuntary turnover and the need to include both in models predicting turnover’s performance effects.

Local development is becoming increasingly dependent on the tourism industry, especially in fragile contexts such as islands, where tourism makes it possible to overcome, at least in part, the obstacles linked to geo-morphological characteristics. The relevance of the sector for the economy is documented by the international literature and underscored in various studies (Balaguer & Cantavella-Jorda, 2002; Croes & Vanegas Sr, 2008; Dritsakis, 2004; Durbarry, 2004; Eugenio-Martin, Martin-Morales, & Sinclair, 2008; Eugenio-Martin, Morales, Scarpa, 2004; Hazari & Sgro, 1995; Maloney & Montes Rojas, 2005; Pigliaru & Lanza, 2000; Sequeira & Maçãs Nunes, 2008), which explain why tourism is attributed a leading role and even recognized as a driving force for the local economy. It is capable of creating new economic opportunities, especially, as mentioned, for island contexts, and even more so for those of modest size, which require special attention given the specific characteristics that distinguish them from the mainland. Islands are, indeed, a unique cluster despite belonging to individual states, and, being located in different regions of the world and featuring different stages of economic development and tourism, they are the beneficiaries of development policies focused on the economy of services and culture. This is essentially due to reasons linked to specific territorial features in terms of morphology and geographical location, primarily associated with the condition of isolation from the mainland. The result is a particular condition that characterizes them both materially, with effects on transport and logistics, and therefore on their economic and production autonomy, and ideally, i.e. in relation to the place that islands have in the collective imagination. They are associated with the desire to escape, to get in touch with nature, to slow down the pace and break patterns, and to attract a large number of visitors who, however, are concentrated mainly during the summer months. This leads to many difficulties and has several implications, in terms of pressure and quality, and requires careful management from very early on, from the stage of discovery of the destination by the first tourists, in order to guide development by limiting the drawbacks.

An unexpected Coronavirus (COVID-19) pandemic has negatively affected the tourism and the hospitality industry, including luxury accommodation service providers. While this was not the first virus outbreak to impact the tourism sectors, in this case, its consequences were devastating. In this light, this contribution analyzes the case of an Italian luxury hotel, a winner of numerous awards during the last few years, including the prestigious World Luxury Hotel Award. The researchers compare its pre- and the post-COVID situation. They clarify that the outbreak has resulted in reduced reservations and explain how the upscale hotel responded to the unprecedented crisis by implementing different approaches. The luxury hospitality business decided to defend its brand differentiation and positioning strategy by continue offering improved service quality and by introducing enhanced hygiene and sanitation facilities, in order to deliver customer-centric experiences to their valued guests.