Room occupancy rate is a key indicator of star-rated hotel management quality. This paper takes Cobb-Douglas production function as the theoretical framework. Spatial Moran index of autocorrelation, Spatial Lag Model(...Room occupancy rate is a key indicator of star-rated hotel management quality. This paper takes Cobb-Douglas production function as the theoretical framework. Spatial Moran index of autocorrelation, Spatial Lag Model(SLM) and Spatial Error Model(SEM) are used to analyze the star-rated hotels labor productivity of 31 provincial regions in China's Mainland based on the star-rated hotels statistical data of year 2016. The spatial correlation and spatial difference of the star-rated hotels labor productivity is discussed. This paper studies the impact of three factors on spatial characteristics of star-rated hotels labor productivity in China's Mainland. The econometric estimation results show that:(1) Star-rated hotels labor productivity present significant spatial dependence and spatial difference in China's Mainland.(2) The estimation results of Ordinary least Squares(OLS) are reliable.(3) The reliability of the results obtained by the Spatial Error Model(SEM) analysis is the highest, and has a stronger explanatory power to the spatial relationship of star-rated hotels labor productivity in China's Mainland. The average room occupancy rate has more influence on the labor productivity of the provincial star-rated hotels than the impact of capital and labor.展开更多
Recent years have witnessed a rapid development of star-rated hotels in China, especially high- end star-rated hotels. Consequently, there are now approximately12 000 hotels in China. One bottleneck within the industr...Recent years have witnessed a rapid development of star-rated hotels in China, especially high- end star-rated hotels. Consequently, there are now approximately12 000 hotels in China. One bottleneck within the industry is its huge energy consumption and carbon emissions, but the development of a comprehensive energy consumption assessment has lagged. Here, a comprehensive energy consumption and carbon emission model suitable for hospitality is established, using comprehensive data collected for hotels over six years and with reference to general international methods, decomposition analysis methods as recommended by the IPCC, and related standards in China. Our study shows that the maximum comparable unit energy consumption per building area among four- and five-star hotels is 73.26 kg ce m-2 y-l. Through energy-saving reconstruction, the comprehensive energy consumption of five-star hotels has declined by 4.1% in six years and is smaller than the advanced comparable value of 55 kg ce m2 y4. The comparable unit energy consumption per area building of most two- and three-star hotels （53 kg ce m2 y-l） is higher than the reasonable value. There are large numbers of hotels of this type in China and the potential energy savings are huge. Analyzing factors of energy consumption, we found that indirect carbon emissions from electricity usage are the most significant. From an energy consumption structural perspective, Heating, Ventilation and Air Conditioning （HVAC） System accounts for most energy consumption. This research provides a foundation for further examination of energy-savings, emission reduction plans and Monitoring Reporting Verification （MRV） in the hospitality sector.展开更多
Introduction: Non-communicable diseases (NCDs) are on the increase in several sectors of activity. The aim of the study was to determine the frequencies of cardiovascular risk factors (CVRF) and factors associated wit...Introduction: Non-communicable diseases (NCDs) are on the increase in several sectors of activity. The aim of the study was to determine the frequencies of cardiovascular risk factors (CVRF) and factors associated with hypertension among hotel workers in the city of Bohicon. Methods: This was a descriptive and analytical cross-sectional study conducted in the period from December 2018 to January 2019. The variables studied were sociodemographic, occupational, anthropometric and behavioral. Participant recruitment was exhaustive. A standardized questionnaire inspired by the STEPS-WHO questionnaire was used for data collection. After the descriptive analysis, a bivariate analysis was performed using Pearson’s Chi-square test or Fisher’s test at the 5% threshold. Results: A total of 101 workers, 53 (52.47%) of them male, participated in the study. The mean age was 30.60 ± 8.20 years, with extremes of 18 and 55 years. The frequencies of the main risk factors were: 68.32% sitting position > 6 hours/day;38.61% shift work;21.78% high psychological demand, 82.18% low decision latitude, 24.75% low social support, 21.78% occupational stress;7 (6.93%) harmful alcohol consumption;6.93% tobacco consumption;48.51% insufficient physical activity;98.02% insufficient fruit and vegetable consumption;59.41% overweight;14.85% HTA. Factors associated with hypertension were: sex, age and marital status. Conclusion: Occupational factors need to be taken into account when assessing CVRFs. NCD control programs are needed in all sectors of activity. A larger study is needed in the hotel sector.展开更多
Hotel buildings are currently among the largest energy consumers in the world.Heating,ventilation,and air conditioning are the most energy-intensive building systems,accounting for more than half of total energy consu...Hotel buildings are currently among the largest energy consumers in the world.Heating,ventilation,and air conditioning are the most energy-intensive building systems,accounting for more than half of total energy consumption.An energy audit is used to predict the weak points of a building’s energy use system.Various factors influence building energy consumption,which can be modified to achieve more energy-efficient strategies.In this study,an existing hotel building in Central Taiwan is evaluated by simulating several scenarios using energy modeling over a year.Energy modeling is conducted by using Autodesk Revit 2025.It was discovered from the results that arranging the lighting schedule based on the ASHRAE Standard 90.1 could save up to 8.22%of energy consumption.And then the results also revealed that changing the glazing of the building into double-layer lowemissivity glass could reduce energy consumption by 14.58%.While the energy consumption of the building could also be decreased to 7.20%by changing the building orientation to the north.Meanwhile,moving the building location to Northern Taiwan could also minimize the energy consumption of the building by 3.23%.The results revealed that the double layer offers better thermal insulation,and low-emissivity glass can lower energy consumption,electricity costs,and CO_(2)emissions by up to 15.27%annually.While adjusting orientation and location can enhance energy performance,this approach is impractical for existing buildings,but this could be considered for designing new buildings.The results showed the relevancy of energy performance to CO_(2)emission production and electricity expenses.展开更多
Arnold Bennett is well-known for his regional novels that mainly represent domestic quotidian lives of his pottery town,especially the lower and middle class.However,his infatuation with the hotel space implicates his...Arnold Bennett is well-known for his regional novels that mainly represent domestic quotidian lives of his pottery town,especially the lower and middle class.However,his infatuation with the hotel space implicates his ambition to re-situate his characters within the parameters of hotel and create new types of characters,representing in new ways the subjectivity of characters and their relations with material space.Based on his hotel writing,this article intends to re-conceive the historical reasons of his obsession with hotel space and further probe the modernity deflected by his representation of domestic selves and modern public identities in hotel space.展开更多
This study broadens perspectives of strategic planning procedures in hotels by analyzing hotel managers’perspectives on hotel strategy formulation and planning.The study was a descriptive quantitative study that targ...This study broadens perspectives of strategic planning procedures in hotels by analyzing hotel managers’perspectives on hotel strategy formulation and planning.The study was a descriptive quantitative study that targeted managers from various Kenyan hotels.180 questionnaires were returned from a sample of 280 hotel managers who had attended management development programs at a hospitality school.The primary goal of the study was to analyze two aspects of the strategic planning process:strategy formulation and strategic planning.The findings revealed that hotels in Kenya have developed methods and are keen on scanning their external environments.However,with the product offerings being so comparable,competitive analysis played an important role in the context.Creating a unique or specialty offering was not a popular option for most hotels.Cost-cutting was the most favored strategic inclination to achieve desired results.The balanced scorecard was underutilized in the sector.While managers were involved in the strategic planning process,other lower cadre employees were not,they were provided with the targets for the hotels’organizational goals to be achieved.The findings reveal that with similar products and services,the industry creates a hostile business climate with fierce rivalry and must invest in the most obvious alternative of cost reduction to survive.Alternative product innovation is not common in this industry for developing a differentiation approach that allows a property to control a market.展开更多
The issue of brain drain poses a significant obstacle to the development of the hotel and catering industry.Attracting and retaining skilled personnel to engage in management within this sector has emerged as a primar...The issue of brain drain poses a significant obstacle to the development of the hotel and catering industry.Attracting and retaining skilled personnel to engage in management within this sector has emerged as a primary challenge.This paper examines the current landscape of China’s catering service industry and its salary management system,identifying key challenges encountered in salary management within the industry.Drawing upon salary management theory and insights into existing challenges,the paper proposes specific treatment measures and management strategies.展开更多
This paper examines how the adoption of cloud computing affects the relationship between the technical and environmental capabilities of small and medium-sized enterprises(SMEs)in the tourism industry in Henan Provinc...This paper examines how the adoption of cloud computing affects the relationship between the technical and environmental capabilities of small and medium-sized enterprises(SMEs)in the tourism industry in Henan Province,China,thereby promoting the stable and sustainable development of the tourism industry,combining the laws of tourism market development,vigorously constructing a smart tourism project,guiding tourism cloud service providers to strengthen the cooperation and contact with the market’s tourism enterprises,introducing and utilizing cloud computing technology,optimizing and improving the functions of various tourism services of the enterprises,and enhancing the processing and analysis of enterprise-related data to provide tourism information.Strengthen the processing and analysis of enterprise-related data to provide tourism information,and further study the adoption of cloud computing and its impact on small and medium-sized enterprises(SMEs)in terms of technology and business environment knowledge,so as to make the best enterprise management decisions and realize the overall enhancement of the enterprise’s tourism brand value.展开更多
In the context of the new era,people’s material living standards have improved and the public’s demand for spiritual life experience is more vigorous,the hotel industry has also ushered in the development of the pea...In the context of the new era,people’s material living standards have improved and the public’s demand for spiritual life experience is more vigorous,the hotel industry has also ushered in the development of the peak period,and the demand for high-quality hotel management professionals is increasing.The cultivation of hotel management professionals needs to adapt to the transformation and upgrading of the hotel industry.Based on the study of the development status and new challenges faced by hotel management education in the new era,this article explores the logic and innovative practice of cultivating hotel management professionals from the aspects of strengthening the construction of hotel management disciplines,constructing new models of talent cultivation,reforming educational concepts,and reshaping the teaching content system.It aims to provide guidelines for the cultivation of hotel management professionals in Chinese universities.展开更多
This study is the first phase of research results from the student innovation project“Yunqiao Sunshine Health and Wellness Homestay”group at Chengdu Normal University.By analyzing the current state of the Sunshine H...This study is the first phase of research results from the student innovation project“Yunqiao Sunshine Health and Wellness Homestay”group at Chengdu Normal University.By analyzing the current state of the Sunshine Health and Wellness Tourism Area economy in the Panxi region of Sichuan,local policies,and the current state of Sunshine Health and Wellness homestays and hotels,this paper proposes the possibility of developing Sunshine Health and Wellness homestays and hotels through traditional Chinese medicine(TCM)health preservation methods.It also proposes development strategies for such hotels through a market survey SWOT analysis.展开更多
There are a plethora of empirical pieces about employees’pro-environmental behaviors.However,the extant literature has either ignored or not fully examined various factors(e.g.,negative or positive non-green workplac...There are a plethora of empirical pieces about employees’pro-environmental behaviors.However,the extant literature has either ignored or not fully examined various factors(e.g.,negative or positive non-green workplace factors)that might affect employees’pro-environmental behaviors.Realizing these voids,the present paper proposes and tests a serial mediation model that examines the interrelationships of job insecurity,emotional exhaustion,met expectations,and proactive pro-environmental behavior.We used data gathered from hotel customer-contact employees with a time lag of one week and their direct supervisors in China.After presenting support for the psychometric properties of the measures via confirmatory analysis in LISREL 8.30,the abovementioned linkages were gauged using the PROCESS plug-in for statistical package for social sciences.The findings delineated support for the hypothesized associations.Specifically,emotional exhaustion and met expectations partly mediated the effect of job insecurity on proactive pro-environmental behavior.More importantly,emotional exhaustion and met expectations serially mediated the influence of job insecurity on proactive pro-environmental behavior.These findings have important theoretical implications as well as significant implications for diminishing job insecurity,managing emotional exhaustion,increasing met expectations,and enhancing ecofriendly behaviors.展开更多
This study assesses the implementation of energy conservation opportunities in four-star and five-star hotels in Nairobi. The Covid-19 pandemic had a significant impact on the Hospitality Industry. Currently, there is...This study assesses the implementation of energy conservation opportunities in four-star and five-star hotels in Nairobi. The Covid-19 pandemic had a significant impact on the Hospitality Industry. Currently, there is a growing inclination to furnish guests with superior and sustainable services in an energy-efficient and eco-friendly way. Comprehensive research was conducted from energy audits gathered from the establishments and contracted auditing companies, on top of this, hotel staff were given digital questionnaires. To add to the data, the researcher surveyed the hotels with engineering managers. The Energy Audits found that all 10 hotels had adopted Energy Conservation Opportunities (ECOs). After further analysis, the mean adoption rate of Energy Conservation Opportunities (ECOs) during the past three years was 55.83%, which was below the aim of 100%. According to studies, hotel staff manages energy to cut costs. The researcher found that hotels use up a lot of energy. However, they have conservation potential, depending on government policies, costs, ease of implementation, and management commitment to sustainable practices. Essentially, Energy Conservation Opportunities (ECOs) reduce energy expenditures and boost reliable revenues, especially during high energy prices and uncertainty.展开更多
This study proposes two new regime-switching volatility models to empirically analyze the impact of the COVID-19 pandemic on hotel stock prices in Japan compared with the US,taking into account the role of stock marke...This study proposes two new regime-switching volatility models to empirically analyze the impact of the COVID-19 pandemic on hotel stock prices in Japan compared with the US,taking into account the role of stock markets.The first model is a direct impact model of COVID-19 on hotel stock prices;the analysis finds that infection speed negatively affects Japanese hotel stock prices and shows that the regime continues to switch to high volatility in prices due to COVID-19 until September 2021,unlike US stock prices.The second model is a hybrid model with COVID-19 and stock market impacts on the hotel stock prices,which can remove the market impacts on regime-switching volatility;this analysis demonstrates that COVID-19 negatively affects hotel stock prices regardless of whether they are in Japan or the US.We also observe a transition to a high-volatility regime in hotel stock prices due to COVID-19 until around summer 2021 in both Japan and the US.These results suggest that COVID-19 is likely to affect hotel stock prices in general,except for the influence of the stock market.Considering the market influence,COVID-19 directly and/or indirectly affects Japanese hotel stocks through the Japanese stock market,and US hotel stocks have limited impacts from COVID-19 owing to the offset between the influence on hotel stocks and no effect on the stock market.Based on the results,investors and portfolio managers should be aware that the impact of COVID-19 on hotel stock returns depends on the balance between the direct and indirect effects,and varies from country to country and region to region.展开更多
基金Sponsored by Humanity and Social Science Youth Foundation of Ministry of Education of China(17YJCZH197)
文摘Room occupancy rate is a key indicator of star-rated hotel management quality. This paper takes Cobb-Douglas production function as the theoretical framework. Spatial Moran index of autocorrelation, Spatial Lag Model(SLM) and Spatial Error Model(SEM) are used to analyze the star-rated hotels labor productivity of 31 provincial regions in China's Mainland based on the star-rated hotels statistical data of year 2016. The spatial correlation and spatial difference of the star-rated hotels labor productivity is discussed. This paper studies the impact of three factors on spatial characteristics of star-rated hotels labor productivity in China's Mainland. The econometric estimation results show that:(1) Star-rated hotels labor productivity present significant spatial dependence and spatial difference in China's Mainland.(2) The estimation results of Ordinary least Squares(OLS) are reliable.(3) The reliability of the results obtained by the Spatial Error Model(SEM) analysis is the highest, and has a stronger explanatory power to the spatial relationship of star-rated hotels labor productivity in China's Mainland. The average room occupancy rate has more influence on the labor productivity of the provincial star-rated hotels than the impact of capital and labor.
基金Key Discipline Project of Shanghai Municipal Education Commission(No.J50402)Key Research of Shanghai Institute of Tourism(No.RS2015-B3)
文摘Recent years have witnessed a rapid development of star-rated hotels in China, especially high- end star-rated hotels. Consequently, there are now approximately12 000 hotels in China. One bottleneck within the industry is its huge energy consumption and carbon emissions, but the development of a comprehensive energy consumption assessment has lagged. Here, a comprehensive energy consumption and carbon emission model suitable for hospitality is established, using comprehensive data collected for hotels over six years and with reference to general international methods, decomposition analysis methods as recommended by the IPCC, and related standards in China. Our study shows that the maximum comparable unit energy consumption per building area among four- and five-star hotels is 73.26 kg ce m-2 y-l. Through energy-saving reconstruction, the comprehensive energy consumption of five-star hotels has declined by 4.1% in six years and is smaller than the advanced comparable value of 55 kg ce m2 y4. The comparable unit energy consumption per area building of most two- and three-star hotels （53 kg ce m2 y-l） is higher than the reasonable value. There are large numbers of hotels of this type in China and the potential energy savings are huge. Analyzing factors of energy consumption, we found that indirect carbon emissions from electricity usage are the most significant. From an energy consumption structural perspective, Heating, Ventilation and Air Conditioning （HVAC） System accounts for most energy consumption. This research provides a foundation for further examination of energy-savings, emission reduction plans and Monitoring Reporting Verification （MRV） in the hospitality sector.
文摘Introduction: Non-communicable diseases (NCDs) are on the increase in several sectors of activity. The aim of the study was to determine the frequencies of cardiovascular risk factors (CVRF) and factors associated with hypertension among hotel workers in the city of Bohicon. Methods: This was a descriptive and analytical cross-sectional study conducted in the period from December 2018 to January 2019. The variables studied were sociodemographic, occupational, anthropometric and behavioral. Participant recruitment was exhaustive. A standardized questionnaire inspired by the STEPS-WHO questionnaire was used for data collection. After the descriptive analysis, a bivariate analysis was performed using Pearson’s Chi-square test or Fisher’s test at the 5% threshold. Results: A total of 101 workers, 53 (52.47%) of them male, participated in the study. The mean age was 30.60 ± 8.20 years, with extremes of 18 and 55 years. The frequencies of the main risk factors were: 68.32% sitting position > 6 hours/day;38.61% shift work;21.78% high psychological demand, 82.18% low decision latitude, 24.75% low social support, 21.78% occupational stress;7 (6.93%) harmful alcohol consumption;6.93% tobacco consumption;48.51% insufficient physical activity;98.02% insufficient fruit and vegetable consumption;59.41% overweight;14.85% HTA. Factors associated with hypertension were: sex, age and marital status. Conclusion: Occupational factors need to be taken into account when assessing CVRFs. NCD control programs are needed in all sectors of activity. A larger study is needed in the hotel sector.
基金support by the National Science and Technology Council under grant no.NSTC 112-2221-E-167-017-MY3.
文摘Hotel buildings are currently among the largest energy consumers in the world.Heating,ventilation,and air conditioning are the most energy-intensive building systems,accounting for more than half of total energy consumption.An energy audit is used to predict the weak points of a building’s energy use system.Various factors influence building energy consumption,which can be modified to achieve more energy-efficient strategies.In this study,an existing hotel building in Central Taiwan is evaluated by simulating several scenarios using energy modeling over a year.Energy modeling is conducted by using Autodesk Revit 2025.It was discovered from the results that arranging the lighting schedule based on the ASHRAE Standard 90.1 could save up to 8.22%of energy consumption.And then the results also revealed that changing the glazing of the building into double-layer lowemissivity glass could reduce energy consumption by 14.58%.While the energy consumption of the building could also be decreased to 7.20%by changing the building orientation to the north.Meanwhile,moving the building location to Northern Taiwan could also minimize the energy consumption of the building by 3.23%.The results revealed that the double layer offers better thermal insulation,and low-emissivity glass can lower energy consumption,electricity costs,and CO_(2)emissions by up to 15.27%annually.While adjusting orientation and location can enhance energy performance,this approach is impractical for existing buildings,but this could be considered for designing new buildings.The results showed the relevancy of energy performance to CO_(2)emission production and electricity expenses.
文摘Arnold Bennett is well-known for his regional novels that mainly represent domestic quotidian lives of his pottery town,especially the lower and middle class.However,his infatuation with the hotel space implicates his ambition to re-situate his characters within the parameters of hotel and create new types of characters,representing in new ways the subjectivity of characters and their relations with material space.Based on his hotel writing,this article intends to re-conceive the historical reasons of his obsession with hotel space and further probe the modernity deflected by his representation of domestic selves and modern public identities in hotel space.
文摘This study broadens perspectives of strategic planning procedures in hotels by analyzing hotel managers’perspectives on hotel strategy formulation and planning.The study was a descriptive quantitative study that targeted managers from various Kenyan hotels.180 questionnaires were returned from a sample of 280 hotel managers who had attended management development programs at a hospitality school.The primary goal of the study was to analyze two aspects of the strategic planning process:strategy formulation and strategic planning.The findings revealed that hotels in Kenya have developed methods and are keen on scanning their external environments.However,with the product offerings being so comparable,competitive analysis played an important role in the context.Creating a unique or specialty offering was not a popular option for most hotels.Cost-cutting was the most favored strategic inclination to achieve desired results.The balanced scorecard was underutilized in the sector.While managers were involved in the strategic planning process,other lower cadre employees were not,they were provided with the targets for the hotels’organizational goals to be achieved.The findings reveal that with similar products and services,the industry creates a hostile business climate with fierce rivalry and must invest in the most obvious alternative of cost reduction to survive.Alternative product innovation is not common in this industry for developing a differentiation approach that allows a property to control a market.
文摘The issue of brain drain poses a significant obstacle to the development of the hotel and catering industry.Attracting and retaining skilled personnel to engage in management within this sector has emerged as a primary challenge.This paper examines the current landscape of China’s catering service industry and its salary management system,identifying key challenges encountered in salary management within the industry.Drawing upon salary management theory and insights into existing challenges,the paper proposes specific treatment measures and management strategies.
文摘This paper examines how the adoption of cloud computing affects the relationship between the technical and environmental capabilities of small and medium-sized enterprises(SMEs)in the tourism industry in Henan Province,China,thereby promoting the stable and sustainable development of the tourism industry,combining the laws of tourism market development,vigorously constructing a smart tourism project,guiding tourism cloud service providers to strengthen the cooperation and contact with the market’s tourism enterprises,introducing and utilizing cloud computing technology,optimizing and improving the functions of various tourism services of the enterprises,and enhancing the processing and analysis of enterprise-related data to provide tourism information.Strengthen the processing and analysis of enterprise-related data to provide tourism information,and further study the adoption of cloud computing and its impact on small and medium-sized enterprises(SMEs)in terms of technology and business environment knowledge,so as to make the best enterprise management decisions and realize the overall enhancement of the enterprise’s tourism brand value.
文摘In the context of the new era,people’s material living standards have improved and the public’s demand for spiritual life experience is more vigorous,the hotel industry has also ushered in the development of the peak period,and the demand for high-quality hotel management professionals is increasing.The cultivation of hotel management professionals needs to adapt to the transformation and upgrading of the hotel industry.Based on the study of the development status and new challenges faced by hotel management education in the new era,this article explores the logic and innovative practice of cultivating hotel management professionals from the aspects of strengthening the construction of hotel management disciplines,constructing new models of talent cultivation,reforming educational concepts,and reshaping the teaching content system.It aims to provide guidelines for the cultivation of hotel management professionals in Chinese universities.
文摘This study is the first phase of research results from the student innovation project“Yunqiao Sunshine Health and Wellness Homestay”group at Chengdu Normal University.By analyzing the current state of the Sunshine Health and Wellness Tourism Area economy in the Panxi region of Sichuan,local policies,and the current state of Sunshine Health and Wellness homestays and hotels,this paper proposes the possibility of developing Sunshine Health and Wellness homestays and hotels through traditional Chinese medicine(TCM)health preservation methods.It also proposes development strategies for such hotels through a market survey SWOT analysis.
文摘There are a plethora of empirical pieces about employees’pro-environmental behaviors.However,the extant literature has either ignored or not fully examined various factors(e.g.,negative or positive non-green workplace factors)that might affect employees’pro-environmental behaviors.Realizing these voids,the present paper proposes and tests a serial mediation model that examines the interrelationships of job insecurity,emotional exhaustion,met expectations,and proactive pro-environmental behavior.We used data gathered from hotel customer-contact employees with a time lag of one week and their direct supervisors in China.After presenting support for the psychometric properties of the measures via confirmatory analysis in LISREL 8.30,the abovementioned linkages were gauged using the PROCESS plug-in for statistical package for social sciences.The findings delineated support for the hypothesized associations.Specifically,emotional exhaustion and met expectations partly mediated the effect of job insecurity on proactive pro-environmental behavior.More importantly,emotional exhaustion and met expectations serially mediated the influence of job insecurity on proactive pro-environmental behavior.These findings have important theoretical implications as well as significant implications for diminishing job insecurity,managing emotional exhaustion,increasing met expectations,and enhancing ecofriendly behaviors.
文摘This study assesses the implementation of energy conservation opportunities in four-star and five-star hotels in Nairobi. The Covid-19 pandemic had a significant impact on the Hospitality Industry. Currently, there is a growing inclination to furnish guests with superior and sustainable services in an energy-efficient and eco-friendly way. Comprehensive research was conducted from energy audits gathered from the establishments and contracted auditing companies, on top of this, hotel staff were given digital questionnaires. To add to the data, the researcher surveyed the hotels with engineering managers. The Energy Audits found that all 10 hotels had adopted Energy Conservation Opportunities (ECOs). After further analysis, the mean adoption rate of Energy Conservation Opportunities (ECOs) during the past three years was 55.83%, which was below the aim of 100%. According to studies, hotel staff manages energy to cut costs. The researcher found that hotels use up a lot of energy. However, they have conservation potential, depending on government policies, costs, ease of implementation, and management commitment to sustainable practices. Essentially, Energy Conservation Opportunities (ECOs) reduce energy expenditures and boost reliable revenues, especially during high energy prices and uncertainty.
文摘This study proposes two new regime-switching volatility models to empirically analyze the impact of the COVID-19 pandemic on hotel stock prices in Japan compared with the US,taking into account the role of stock markets.The first model is a direct impact model of COVID-19 on hotel stock prices;the analysis finds that infection speed negatively affects Japanese hotel stock prices and shows that the regime continues to switch to high volatility in prices due to COVID-19 until September 2021,unlike US stock prices.The second model is a hybrid model with COVID-19 and stock market impacts on the hotel stock prices,which can remove the market impacts on regime-switching volatility;this analysis demonstrates that COVID-19 negatively affects hotel stock prices regardless of whether they are in Japan or the US.We also observe a transition to a high-volatility regime in hotel stock prices due to COVID-19 until around summer 2021 in both Japan and the US.These results suggest that COVID-19 is likely to affect hotel stock prices in general,except for the influence of the stock market.Considering the market influence,COVID-19 directly and/or indirectly affects Japanese hotel stocks through the Japanese stock market,and US hotel stocks have limited impacts from COVID-19 owing to the offset between the influence on hotel stocks and no effect on the stock market.Based on the results,investors and portfolio managers should be aware that the impact of COVID-19 on hotel stock returns depends on the balance between the direct and indirect effects,and varies from country to country and region to region.
