The impact of COVID-19 outbreak on hotels’ value compared to previous diseases: the role of ALFO strategy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F21%3A63535278" target="_blank" >RIV/70883521:28120/21:63535278 - isvavai.cz</a>
Result on the web
<a href="https://www.sciencedirect.com/science/article/pii/S2405844021019393" target="_blank" >https://www.sciencedirect.com/science/article/pii/S2405844021019393</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.heliyon.2021.e07836" target="_blank" >10.1016/j.heliyon.2021.e07836</a>

Result language
angličtina
Original language name
The impact of COVID-19 outbreak on hotels’ value compared to previous diseases: the role of ALFO strategy
Original language description
By using the Event Study Method (ESM), this paper aims to examine the effect of new coronavirus (SARS-CoV-2) disease (COVID-19) outbreak on the market performance of the hotel industry in the U.S. We also compare the impact of COVID-19 outbreak with three previous diseases outbreaks. The results show that there is a negative influence of the diseases outbreaks on stock returns of hotels in the U.S. However, the impact of COVID-19 is incomparably higher in magnitude compared to previous diseases. Furthermore, given the importance of following flexible corporate strategies to adapt to new and unpredicted situations, it is found that the ALFO (assets-light, fee-orientated) strategy acts as a mitigator for the predicted market value drop due to the pandemic.
Czech name
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Czech description
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Type
J<sub>SC</sub> - Article in a specialist periodical, which is included in the SCOPUS database
CEP classification
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OECD FORD branch
50201 - Economic Theory

Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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