Presenting a model of financial resilience in the hotel industry to predict financial distress

Subject Areas : Corporate governance

Seyyedeh Maryam Abolhasani Komleh ¹ , Mohammad Hassan Gholizadeh ² , Mehdi Meshki Miavaghi ³

1 - PhD in Financial Engineering, Department of Management, Islamic Azad University, Rasht, Iran.
2 - Associate Prof., Department of Management, Gilan university, Rasht, Iran
3 - Associate Prof.,Department of Finance, Gilan Branch, Payame Noor University, Rasht, Iran

Received: 2024-11-15 Accepted : 2024-12-28 Published : 2025-02-08

Keywords: Financial resilience, financial distress, Covid-19 crisis, tourism industry, hotel industry, structural equation modeling,

Abstract :

Recently, the Covid-19 crisis has faced many financial risks in the hotel industry, in such a way that due to the lack of income, it has led to the closure of some hotels and the unemployment of their employees. Therefore, the financial resilience of the hotel industry was taken into consideration to predict financial distress. In this research, the financial resilience model of the hotel industry is presented in order to predict financial distress with a quantitative approach (structural equation modeling). After reviewing the background of the research, the attitude of hotel managers was investigated through a researcher-made questionnaire. The participants were selected from among 135 hotels in Tehran province in the spring of 1402. The present research method is descriptive-correlation. In order to analyze the data, structural equation modeling was used. The results show that the intervening factor "environmental protection" does not have much effect on the financial resilience of the hotel industry in order to predict financial distress. Therefore, the hotel industry can provide the basis for financial resilience in order to predict financial distress through the use of identified strategies, so that this industry can become financially resilient in crisis conditions and continue his life.

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