UNVEILING FINANCIAL CRISIS DRIVERS AND PROPOSING A SUSTAINABILITY MODEL IN THE HOTEL INDUSTRY

Fatemeh Dekamini, Abbas Dastanpour Hossein Abadi, Shima Safar Mohammadluo, Rezvan Pourmansouri, Ramona Birau, Robert Dorin Filip and Stefan Margaritescu
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Fatemeh Dekamini: DEPARTMENT OF BUSINESS MANAGEMENT, MAHAN BUSINESS SCHOOL, TEHRAN, IRAN
Abbas Dastanpour Hossein Abadi: DEPARTMENT OF ACCOUNTING, FACULTY OF ADMINISTRATIVE SCIENCES AND ECONOMICS, ISFAHAN UNIVERSITY, ISFAHAN, IRAN
Shima Safar Mohammadluo: FACULTY OF MANAGEMENT AND ECONOMICS, RESEARCH AND SCIENCES BRANCH, ISLAMIC AZAD UNIVERSITY, TEHRAN, IRAN
Rezvan Pourmansouri: DEPARTMENT OF FINANCIAL MANAGEMENT, SCIENCE AND RESEARCH BRANCH, ISLAMIC AZAD UNIVERSITY, TEHRAN, IRAN
Ramona Birau: UNIVERSITY OF CRAIOVA, "EUGENIU CARADA" DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA & CONSTANTIN BRÂNCUȘI” UNIVERSITY OF TARGU JIU, FACULTY OF ECONOMIC SCIENCE, TG-JIU, ROMANIA
Robert Dorin Filip: UNIVERSITY OF CRAIOVA, "EUGENIU CARADA" DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA
Stefan Margaritescu: UNIVERSITY OF CRAIOVA, "EUGENIU CARADA" DOCTORAL SCHOOL OF ECONOMIC SCIENCES, CRAIOVA, ROMANIA

Annals - Economy Series, 2025, vol. 2, 15-33

Abstract: This study aims to classify the factors contributing to financial crises in the hotel industry, structured according to the stages of crisis management. It seeks to identify and explore the fundamental causes of financial issues, addressing the gap in comprehensive frameworks for managing financial crises in this sector.The study employs a grounded theory approach with an applied, descriptive-correlational design. Data collection involved field and library methods, utilizing in-depth interviews and questionnaires. Theoretical saturation was achieved after 18 interviews, out of 22 conducted, and 180 questionnaires were distributed across five-star hotels during the first half of 2024. Commonality calculations indicated that all factors had values above 50%, affirming their capacity to explain variability.The findings reveal that the revenue phase, facilitation conditions, and supportive policies are among the critical factors influencing financial crises in the hotel industry during times of crisis. Variability among variables highlights the complexity of these relationships.This research addresses the lack of a comprehensive classification system for financial crisis management in the hotel industry. By employing a systematic approach to factor identification and categorization, it provides valuable insights for improving crisis management strategies and enhancing the industry's resilience.

Keywords: Complication Diagnosis; Financial Crisis; Sustainability; Hotel Industry; Economic growth (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2025:v:2:p:15-33

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