The financial resilience model of the hotel industry in crisis using structural equation modeling

Document Type : Original Article

Authors

1 Ph.D. Student in Financial Engineering, Department of Management, Rasht Branch, Islamic Azad University, Rasht, Iran.

2 Associate Prof, Department of Management, University of Guilan, Rasht, Iran

3 Associate Prof, Finance, Payame Noor University, Rasht, Iran.

Abstract

Recent crises have faced the hotel industry with many financial risks, so that due to the lack of income, it has led to the closure of some hotels and the unemployment of their employees. Therefore, the hotel industry's financial resilience was taken into account in crisis. In this research, the financial resilience model of the hotel industry is presented in crisis, using a quantitative approach (structural equation modeling). After reviewing the literature review, the employees’ attitudes (a 137 random sample) was were examined by a researcher-made questionnaire. The participants were selected among 1448 Iranian hotels in the spring of 1401. The research method is descriptive-correlative. In order to data analysis, structural equation modeling was used. The results indicated that from the participants' opinions, although most of the components of the model are approved, environmental protection as an intervening factor has a positive but non-significant effect on the hotel industry's financial resilience in crisis. Therefore, the country's hotel industry can provide the contexts for financial resilience in crisis through applying the strategies, so that it can become financially resilient and continue its life.

Keywords

References

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