Abstract
This chapter focuses on the current state of knowledge of the factors that affect the competitiveness of family hotel SMEs in a pandemic environment, through a systematic review of the international academic literature with an emphasis on the European continent. The research work consisted of a systematic review that involved the analysis of documents, articles, dissertations, and international academic works that presented both theoretical and empirical research results. The search was conducted from January to May 2021 in online databases and search engines. The studies focused on finance, innovation, and marketing as the main factors that generate competitiveness among family hotel SMEs. Most of them have been published since 2014 in European countries. Some characteristics are overlapping in various geographical contexts, such as the importance of profitability, financing, the use of financial information; product and process innovation; market positioning, knowledge of the competition, and customer satisfaction. Some implications for small and medium-sized family hotel businesses in Europe were analysed, namely those arising from the COVID-19 pandemic. Small and medium-sized family hotel businesses have national and international economic relevance, especially in tourism. Still, studies in this field are scarce. In this way, a compilation of recent works is made, to identify the main factors that affect the competitiveness of these enterprises that currently face serious problems in this domain, aggravated by the COVID-19 pandemic, as well as contribute to the state of the art and subject knowledge gaps. The major limitation of this research is the existence of more articles located in databases (such as Web of Science and Scopus) and repositories in other countries that were not included in the search, due to restricted access to their content.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Aarstad J, Ness H, Haugland SA (2015) Innovation, uncertainty, and inter-firm shortcut ties in a tourism destination context. Tour Manag 48(1):354–361. https://doi.org/10.1016/j.tourman.2014.12.005
Abosede A, Obasan K, Alese O (2016) Strategic management and small and medium enterprises (SMEs) development: a review of literature. Int Rev Manag Bus Res 5(1):23–40
Adomako S (2018) The moderating effects of adaptive and intellectual resource capabilities on the relationship between entrepreneurial orientation and financial performance. Int J Innov Manag 22(3):1–14. https://doi.org/10.1142/S1363919618500263
Ahmad A, Jamaludin A, Shaliza N, Valeri M (2020) Visit intention and destination image in post-Covid-19 crisis recovery. Curr Issue Tour 24(17):2392–2397. https://doi.org/10.1080/13683500.2020.1842342
Akadiri S, Akadiri AC, Alola UV (2017) Is there growth impact of tourism? Evidence from selected small island states. Curr Issue Tour 22(12):1480–1498. https://doi.org/10.1080/13683500.2017.1381947
Alhakimi W, Mahmoud M (2020) The impact of market orientation on innovativeness: evidence from Yemeni SMEs. Asia Pac J Innov Entrep 14(1):47–59. https://doi.org/10.1108/apjie-08-2019-0060
Argüelles Ma L, Quijano García R, Fajardo M (2017) Rentabilidad Y Calidad De Vida Laboral (Profitability and quality of working life). Revista Internacional Administracion & Finanzas 10(1):81–93. https://ssrn.com/abstract=2916926
Auken H, Lema D (2003) Financial strategies of Spanish firms: a comparative analysis by size of firm. J Small Bus Entrep 17(1):17–30. https://doi.org/10.1080/08276331.2003.10593310
Auken H, Tseng SH (1993) A financial comparison between Taiwanese and US firms: evidence of differential financial strategies. J Entrep 2(1):59–71. https://doi.org/10.1177/097135579300200104
Baggio R, Valeri M (2020) Network science and sustainable performance of family business in tourism. J Family Bus Manag. https://doi.org/10.1108/JFBM-06-2020-0048
Becerra-Vicario R, Alaminos D, Aranda E, Fernández-Gámez MA (2020) Deep recurrent convolutional neural network for bankruptcy prediction: a case of the restaurant industry. Sustainability 12(12). https://doi.org/10.3390/su12125180
Bello C, Sensini L (2020) Financing decisions of SMEs in the hotel industry. Int J Acad Res Account Finance Manag Sci 10(2):9–14. https://doi.org/10.6007/ijarafms/v10-i2/7265
Benetti J, Fiorentin L, Padilha A, Cruz C, Medeiros F (2020) Perspectivas pós-pandemia COVID-19 e as estratégias de comunicação da hotelaria de Bento Gonçalves, Brasil para concorrer com o Airbnb. XII International Tourism Congress – The Image and Sustainability of Tourism Destinations, October 27–28
Bianchi C, Mingo S, Fernandez V (2019) Strategic management in Latin America: challenges in a changing world. J Bus Res 105:306–309. https://doi.org/10.1016/J.JBUSRES.2018.10.022
Biemans W, Griffin A (2018) Innovation practices of B2B manufacturers and service providers: are they really different? Ind Mark Manag 75:112–124. https://doi.org/10.1016/j.indmarman.2018.04.008
Blesa A, Ripollés M, Monferrer D (2009) Influencia de las capacidades de marketing en la competitividad de las nuevas empresas internacionales. Investigaciones Económicas XXXIII(2):233–270
Bocarando Lara JC, Pérez García JC, Ovando Chico C (2017) Tourism SMEs in a digital environment: literature review. Eur Scientific J 13(28):429–451. https://doi.org/10.19044/esj.2017.v13n28p429
Bocconcelli R, Cioppi M, Fortezza F, Francioni B, Pagano A, Savelli E, Splendiani S (2018) SMEs and marketing: a systematic literature review. Int J Manag Rev 20(2):227–254. https://doi.org/10.1111/ijmr.12128
Caicedo Barreth, A, Santos E, Lima Santos L (2019) La competitividad de Guayaquil hacia el Bleisure Tourism. XI International Tourism Congress (ITC’19), pp 22–35
Caicedo-Barreth A, Santos Pavón E, Lima Santos L (2020) Competitiveness of Guayaquil towards bleisure tourism. EJTHR 10(2):118–133. https://doi.org/10.2478/ejthr-2020-00010
Camilleri M, Valeri M (2021) Thriving family businesses in tourism and hospitality: a systematic review and a synthesis of the relevant literature. J Family Bus Manag. https://doi.org/10.1108/JFBM-10-2021-0133
Campos F, Lima Santos L, Gomes C, Cardoso L (2022) Management accounting practices in the hospitality industry: a systematic review and critical approach. Tour Hosp 3(1):243–264. https://doi.org/10.3390/tourhosp3010017
Carter R, Auken H (1990) A comparison of small business and large corporations: interrelationships among position statements. J Bus Entrep 2:73–80
Chen J, Sanchez J, Sensini L (2014) Growth opportunities and ownership structure as determinants of Italian firms leverage. Acad Conf Risk Manag Complex:365–386
Cong LC, Thu DA (2021) The competitiveness of small and medium enterprises in the tourism sector: the role of leadership competencies. J Econ Dev 23(3):299–316. https://doi.org/10.1108/jed-06-2020-0080
Dalle P, Boniolo P, Sautu R, Elbert R (2005) Manual de metodología. Construcción del marco teórico, formulación de los objetivos y elección de la metodología. CLACSO, London
Damian IE, Suárez-Barraza MF (2015) Innovación de procesos en la gestión turística: Una revisión de la literatura. Intangible Capital 11(2):147–165. https://doi.org/10.3926/ic.530
Delgado Cruz A, Vargas Martínez E, Montes Hincapié J, Rodríguez Torres F (2016) Innovation in tourism companies, where are they and where are they going? An approach to the state of knowledge. Intangible Capital 12(4):1088–1155. https://doi.org/10.3926/ic.778
Dimitrić M, Tomas Žiković I, Arbula Blecich A (2019) Profitability determinants of hotel companies in selected Mediterranean countries. Econ Res – Ekonomska Istrazivanja 32(1):1977–1993. https://doi.org/10.1080/1331677X.2019.1642785
Domi S, Capelleras JL, Musabelliu B (2020) Customer orientation and SME performance in Albania: a case study of the mediating role of innovativeness and innovation behavior. J Vacat Mark 26(1):130–146. https://doi.org/10.1177/1356766719867374
Du D, Lew AA, Ng PT (2014) Tourism and economic growth. J Travel Res 55(4):454–464. https://doi.org/10.1177/0047287514563167
Efthimios B, Charalampos K, Chatziioannou I, Evanthiad B, Vasilios Z (2020) Sustainable mobility planning as a means of resetting tourism industry in the post- Covid-19 era. XII International Tourism Congress – The Image and Sustainability of Tourism Destinations, October 27–28
Fernandez V (2017) The finance of innovation in Latin America. Int Rev Financ Anal 53:37–47. https://doi.org/10.1016/j.irfa.2017.08.008
Floričić T (2016) Specialized SMEs in the hotel industry and market positioning in Croatia. Problemy Zarządzania 14(3):151–171. https://doi.org/10.7172/1644-9584.62.9
Fonseca N, Sánchez-Rivero M (2019) Significance bias in the tourism-led growth literature. Tour J 26(1):137–154. https://doi.org/10.1177/1354816619833564
Forés B, Breithaupt A, Takashi H (2021) Bibliometric overview of tourism family business. Sustainability 13(10):1–33. https://doi.org/10.3390/su132212822
Fraj E, Matute J, Melero I (2015) Environmental strategies and organizational competitiveness in the hotel industry: the role of learning and innovation as determinants of environmental success. Tour Manag 46:30–42. https://doi.org/10.1016/j.tourman.2014.05.009
Gajdošík T, Valeri M (2022) Complexity of tourism destination governance: a smart network approach. IGI Global. https://doi.org/10.4018/978-1-6684-3889-3.ch008
Gârdan DA, Dumitru I, Gârdan IP, Paștiu CA (2020) Touristic SME’s competitiveness in the light of present challenges—a qualitative approach. Sustainability 12(21):9191. https://doi.org/10.3390/su12219191
Gruenbichler R, Klucka J, Haviernikova K, Strelcova S (2021) Business performance management in small and medium-sized enterprises in the Slovak Republic: an integrated three-phase-framework for implementation. J Competitiveness 13(1):42–58. https://doi.org/10.7441/joc.2021.01.03
Gursoy D, Chi CG (2020) Effects of COVID-19 pandemic on hospitality industry: review of the current situations and a research agenda. Tour J 29(5):527–529. https://doi.org/10.1080/19368623.2020.1788231
Gyulavári T, Kenesei Z (2012) The impact of marketing resources on corporate competitiveness. Tržište 1(24):7–21
Hassen Y, Singh A (2020) The effect of market orientation on the performance of small and medium enterprises in case of Amhara Region, Ethiopia. J New Bus Ventures 1(1–2):92–109. https://doi.org/10.1177/2632962x20961051
Helleloid RT, Sheikholeslami M (1996) Accounting reporting implications of balance sheet relationships for U.S. multinationals. J Int Account Tax 5(1):2–3
Hill C, Jones G (1996) Administración estratégica: Un enfoque integral. Cengage Learning Editores, S.A., México
Hongyun T, Adomako K, Appiah-Twum F, Akolgo IG, Iqbal S, Spio-Kwofie A (2019) Adoption of open innovation: evidence from SMEs in the Ghanaian hospitality industry. Int J Scientific Res Manag 7(7). https://doi.org/10.18535/ijsrm/v7i7.em03
Jeffrey H, Caron J, John S (2009) Fundamentos de Dirección Estratégica. Thompson Editors, USA
Kallmuenzer A, Peters M (2018) Innovativeness and control mechanisms in tourism and hospitality family firms: a comparative study. Int J Hosp Manag 70:66–74. https://doi.org/10.1016/j.ijhm.2017.10.022
Krugman P (1991) Increasing returns and economic geography. J Polit Econ 99(3):483–499
Kumar S, Asthana S, Valeri M (2021) Understanding the relationship among factors influencing rural tourism: a hierarchical approach. J Organ Chang Manag. https://doi.org/10.1108/JOCM-01-2021-0006
Lado-Sestayo R, Vivel-Búa M, Otero-González L (2017) Determinants of TRevPAR: hotel, management, and tourist destination. Int J Contemp Hosp Manag 29(12):3138–3156. https://doi.org/10.1108/IJCHM-03-2016-0151
Liao SH, Fei WC, Chen CC (2007) Knowledge sharing, absorptive capacity, and innovation capability: an empirical study of Taiwan’s knowledge-intensive industries. J Inf Sci 33(3):340–359. https://doi.org/10.1177/0165551506070739
Lima Santos L, Gomes C, Faria AR, Lunkes RJ, Malheiros C, Silva da Rosa F, Nunes C (2016) Hospitality management accounting. ATF – Technical Editions, Portugal
Lima Santos L, Malheiros C, Gomes C (2017) Do stars matter? A comparison of operating ratios and indicators among hotels. X International Tourism Congress (ITC’18), pp 192–205
Lima Santos L, Gomes C, Malheiros C (2019) Achieving a competitive management in micro and small independent hotels. In: Teixeira S, Ferreira J (eds) Multilevel approach to competitiveness in the global tourism industry, pp 229–255. https://doi.org/10.4018/978-1-7998-0365-2.ch014
Lima Santos L, Malheiros C, Gomes C, Guerra T (2020) TRevPAR as hotels performance evaluation indicator and influencing factors in Portugal. EATSJ-Euro-Asia Tour Stud J 1:93–105
Lima Santos L, Gomes C, Lisboa I (2021a) The impact of macroeconomic factors on the hotel industry through the financial leverage trends. IGI Global 14:94–111. https://doi.org/10.4018/978-1-7998-6643-5.ch006
Lima Santos L, Gomes C, Malheiros C, Lucas A (2021b) Impact factors on Portuguese hotels’ liquidity. J Risk Financ Manag 14:144–162. https://doi.org/10.3390/jrfm14040144
López-Arceiz F, Bellostas A, Rivera-Torres M (2017) The slaughtered and the survivors: collaboration between social economy organizations as a key to success in times of financial crisis. Volunt Int J Volunt Nonprofit Org 28(4):1622–1647. https://doi.org/10.1007/s11266-017-9836-2
Markus G, Rideg A (2020) Understanding the connection between SMEs’ competitiveness and cash flow generation: an empirical analysis from Hungary. Compet Rev 31(3):397–419. https://doi.org/10.1108/CR-01-2020-0019
Martínez Santa María R, Charterina Abando J, Araujo de la Mata A (2010) Un modelo causal de competitividad empresarial planteado desde la VBR: Capacidades directivas, de innovación, marketing y calidad. Investigaciones Europeas de Direccion y Economia de La Empresa 16(2):165–188. https://doi.org/10.1016/S1135-2523(12)60117-8
Marulanda-Valencia FÁ, Restrepo-Montes JA (2020) Estrategias para fortalecer la ocupación hotelera: estudio de caso en una cadena de la ciudad de Medellín. Revista Virtual Universidad Católica Del Norte 61:183–202. https://doi.org/10.35575/rvucn.n61a11
Mazur J, Zaborek P (2016) Organizational culture and open innovation performance in small and medium-sized enterprises (SMEs) in Poland. Int J Manag Econ 51:104–137. https://doi.org/10.1515/ijme-2016-0022
Metreveli M, Lima Santos L, Gomes C, Sofia Mendes A (2020) Covid-19 and its impact on hotel business. XII International Tourism Congress (ITC’20), pp 503–518
Møen J, Schindler D, Schjelderup G, Tropina Bakke J (2019) International debt shifting: the value-maximizing mix of internal and external debt. Int J Econ Bus 26(3):431–465. https://search.ebscohost.com/login.aspx?direct=true&db=edb&AN=138813357&
Moher D, Liberati A, Tetzlaff J, Altman D (2009) Preferred reporting items for systematic reviews and meta-analyses: the PRISMA statement. PLoS Med 6(7):1–6. https://doi.org/10.1371/journal.pmed.1000097
Molina Germán J, Pérez Melo A, Lizárraga Salazar G, Larrañaga Núñez A (2018) Análisis de la calidad de la vida laboral y competitividad en empresas de servicios turísticos. 3C Empresa: Investigación y Pensamiento Crítico 7(2):44–67. https://doi.org/10.17993/3cemp.2018.070234.44-67/
Molina D, Sánchez-Riofrío A (2016) Competitiveness factors for small and medium-Sized enterprises (SMES) in Latin America: review of literature. Revista San Gregorio 15:105–109
Mueller A, Sensini L (2021) Determinants of financing decisions of SMEs: evidence from hotel industry. Int J Bus Manag 16(3):117–127. https://doi.org/10.5539/ijbm.v16n3p117
Myers SC, Majluf NS (1984) Corporate financing and investment decisions when firms have information that investors do not have. J Financ Econ 13:187–221
Nicola M, Alsafi Z, Sohrabi C, Kerwan A, Al-Jabir A, Iosifidis C, Agha M (2020) The socio-economic implications of the coronavirus pandemic (COVID-19): a review. Int J Surg 185–193. https://doi.org/10.1016/j.ijsu.2020.04.018
Nieves J, Quintana A, Osorio J (2015) Organizational knowledge, dynamic capabilities and innovation in the hotel industry. Tour Hosp Res 16(2):158–171. https://doi.org/10.1177/1467358415600208
O’Neill MA, Riscinto-Kozub KA, Van Hyfte M (2010) Defining visitor satisfaction in the context of camping oriented nature-based tourism – the driving force of quality! J Vacat Mark 16(2):141–156. https://doi.org/10.1177/1356766710364541
Padilla R (2006) Instrumentos de medición de la competitividad. Revista de La CEPAL 76(1):1–17
Page MM, McKenzie JE, Bossuyt PM, Boutron I, Hoffmann TC, Mulrow CC, Shamseer L, Tetzlaff JM, Akl EA, Brennan SE, Chou R, Glanville J, Grimshaw JM, Hróbjartsson A, Lalu MM, Li T, Loder EW, Mayo-Wilson E, McDonald S, Moher D (2021) The PRISMA 2020 statement: an updated guideline for reporting systematic reviews. BMJ 372(71):45–59. https://doi.org/10.1136/bmj.n71
Pavlatos O (2015) An empirical investigation of strategic management accounting in hotels. Int J Contemp Hosp Manag 27(5):756–767
Perea Quezada J, Rivas Tovar A (2006) Estrategias competitivas para los productores cafetaleros de la región de Córdoba, Veracruz, frente al mercado mundial. Investigación Administrativa 97:70–94
Petrizzo Páez M (2020) El impacto de la COVID-19 en el sector turismo. Porrúa, México
Pikkemaat B, Peters M, Bichler BF (2019) Innovation research in tourism: research streams and actions for the future. J Hosp Tour Manag 41:184–196. https://doi.org/10.1016/j.jhtm.2019.10.007
Ramadani V, Gërguri S, Rexhepi G, Abduli S (2013) Innovation and economic development: the case of FYR of Macedonia. J Balkan Near East Stud 15(3):324–345. https://doi.org/10.1080/19448953.2013.789326
Ramírez-Hurtado JM, Berbel-Pineda JM (2015) Identification of segments for overseas tourists playing golf in Spain: a latent class approach. J Hosp Mark Manag 24(6):652–680. https://search.ebscohost.com/login.aspx?direct=true&db=edb&AN=108302728&
Ramón-Molina D, Magaña-Medina D, Aguilar-Morales N (2020) Strategies used by SMEs to adapt to Industry 4.0 Article. J Bus SMEs 6(18):14–24. https://doi.org/10.35429/JBS.2020.18.6.14.24
Shehu A, Mahmood R (2014) An empirical analysis of market orientation and business performance relationship in the context of developing economy. Int J Acad Res Bus Social Sci 4(9):457–470. https://doi.org/10.6007/ijarbss/v4-i9/1151
Škrinjarić T (2019) Examining the causal relationship between tourism and economic growth: spillover index approach for selected CEE and SEE countries. Economies 7(1):19. https://doi.org/10.3390/economies7010019
Škuflić L, Mlinarić D (2015) Mikroekonomske determinante profitabilnosti hrvatske hotelske industrije. Ekonomski Pregled 66(5):477–494
Sołoducho-Pelc L (2020) Competitiveness and innovation of European Union SMEs: a critical assessment. Int Conf Eur Integr 2020:809–816. https://www.researchgate.net/publication/349226332
Sousa B, Veloso C, Magalhaes D, Walter C, Valeri M (2021) Encouraging consumer loyalty: the role of family business in hospitality. J Family Bus Manag. https://doi.org/10.1108/JFBM-10-2021-0134
Stanton W, Etzel M, Walker B (2000) Fundamentos de marketing. McGraw-Hill Interamericana, México
Statista D (2022) Impacto del coronavirus en los principales indicadores de rentabilidad del sector hotelero en Europa en 2020. Prince, USA
Stowe JD, Watson CJ, Robertson TD (1980) Relationships between the two sides of the balance sheet: a canonical correlation analysis. J Financ 35(4):973–980. https://doi.org/10.1111/j.1540-6261.1980.tb03514.x
Szopiński T, Staniewski MW (2016) Socio-economic factors determining the way e-tourism is used in European Union member states. Internet Res 26(1):2–21. https://doi.org/10.1108/IntR-03-2014-0065
Tranfield D, Denyer D, Smart P (2003) Towards a methodology for developing evidence-informed management knowledge by means of systematic review. Br J Manag 14(3):207–222
Tsai H (2009) Star-rated hotel productivity in China: a provincial analysis using the DEA cross-efficiency evaluation approach. J China Tour Res 5(3):243–258. https://search.ebscohost.com/login.aspx?direct=true&db=edb&AN=44033227&
Tsai K, Yang S (2014) The contingent value of firm innovativeness for business performance under environmental turbulence. Int Entrep Manag J 10(2):343–366. https://doi.org/10.1007/s11365-012-0225-4
Tsai H, Song H, Wong KK (2009) Tourism and hotel competitiveness research. J Travel Tour Mark 26(5):522–546. https://doi.org/10.1080/10548400903163079
Tyebjee T, Bruno A (1984) Model of venture capitalist investment activity. Manag Sci 30(9):1051–1066. https://doi.org/10.1287/mnsc.30.9.1051
UNWTO (2020) World Tourism Barometer No18 January 2020. World Tourism Organization. https://www.unwto.org/world-tourism-barometer-n18-january-2020
Valeri M (2021) Tourism risk: crisis and recovery management. Emerald, UK
Valeri M, Baggio R (2020) Social network analysis: organizational implications in tourism management. Int J Organ Anal. https://doi.org/10.1108/IJOA-12-2019-1971
Valeri M, Baggio R (2021) Increasing the efficiency of knowledge transfer in an Italian tourism system: a network approach. Curr Issue Tour. https://doi.org/10.1080/13683500.2021.1937960
Vasco S, Sousa B, Ramos P, Valeri M (2021) Emotions and involvement in tourism settings. Curr Issue Tour. https://doi.org/10.1080/13683500.2021.1932769
Vieira D, Lima Santos L, Malheiros C, Ribeiro R (2016) Financial balance of small independent hotels: the management view. Procter, Portugal
Villacis Vargas J (2018) Factores de competencia entre PYMES. Espirales 5(1):76–98
Weerawardena J (2003) Exploring the role of market learning capability in competitive strategy. Eur J Mark 37(3/4):407–429. https://doi.org/10.1108/03090560310459023
Wikhamn W (2019) Innovation, sustainable HRM and customer satisfaction. Int J Hosp Manag 76:102–110. https://doi.org/10.1016/j.ijhm.2018.04.009
Zehrer A, Muskat B, Muskat M (2014) Services research in tourism: advocating the integration of the supplier side. J Vacat Mark 20(4):353–363. https://doi.org/10.1177/1356766714533334
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2023 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Pérez Brito, A.E., Santos, L.L., Duarte Cáceres, L.G. (2023). Main Competitive Factors in European Small and Medium-Sized Family Hotels. In: Valeri, M. (eds) Family Businesses in Tourism and Hospitality. Tourism, Hospitality & Event Management. Springer, Cham. https://doi.org/10.1007/978-3-031-28053-5_4
Download citation
DOI: https://doi.org/10.1007/978-3-031-28053-5_4
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-031-28052-8
Online ISBN: 978-3-031-28053-5
eBook Packages: Business and ManagementBusiness and Management (R0)