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Impact of sustainable management policies on tourism companies' performance: the case of the metropolitan region of Madrid

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  • Llorenç Bagur-Femenías
  • Jordi Martí
  • Alfredo Rocafort

Abstract

The adoption of sustainable management practices is booming among service companies, whether due to pressure exerted by external agents or the internal perception that not being aligned with sustainability distances companies from clients and puts companies' long-term prospects at risk. However, few studies have examined the combined effect of implementing environmental management practices and corporate social responsibility practices in the tourism sector. By analysing two surveys conducted with the managers of 370 hotels and 176 restaurants and using structural equations, this study concludes that sustainability practices have a direct and significant impact on the company's competitiveness and on the companies' financial results. However, a separate study of the two surveys shows significant differences between the two analysed groups. This article suggests that despite operating in the same sector, hotels and restaurants behave differently regarding sustainability practices, and they achieve significantly different results in their implementation. In addition, by focusing on the tourism industry, a highly competitive sector, this analysis sheds light on whether investing in sustainability is a good strategy for companies to differentiate themselves and survive in complex sectors.

Suggested Citation

  • Llorenç Bagur-Femenías & Jordi Martí & Alfredo Rocafort, 2015. "Impact of sustainable management policies on tourism companies' performance: the case of the metropolitan region of Madrid," Current Issues in Tourism, Taylor & Francis Journals, vol. 18(4), pages 376-390, April.
    • Handle: RePEc:taf:rcitxx:v:18:y:2015:i:4:p:376-390
    DOI: 10.1080/13683500.2014.932757
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    Cited by:

    1. Biconne, Valentina & Colombelli, Alessandra & Marullo, Cristina, 2024. "Exploring the Role of Openness to Collaborations with External Stakeholders in Sustainability Adoption: A Study Of Tourism Micro-Firms," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 202402, University of Turin.
    2. Ahmed Hassan Abdou & Thowayeb H. Hassan & Amany E. Salem, 2023. "Promoting Sustainable Food Practices in Food Service Industry: An Empirical Investigation on Saudi Arabian Restaurants," Sustainability, MDPI, vol. 15(16), pages 1-22, August.
    3. Mandeep Mahendru & Vibha Arora & Ravi Chatterjee & Gagan Deep Sharma & Irum Shahzadi, 2024. "From Over-Tourism to Under-Tourism via COVID-19: Lessons for Sustainable Tourism Management," Evaluation Review, , vol. 48(1), pages 177-210, February.
    4. Biconne, Valentina & Colombelli, Alessandra & Marullo, Cristina, 2024. "Exploring the Role of Openness to Collaborations with External Stakeholders in Sustainability Adoption: A Study Of Tourism Micro-Firms," Department of Economics and Statistics Cognetti de Martiis. Working Papers 202416, University of Turin.
    5. Alatawi, Ibrahim A. & Ntim, Collins G. & Zras, Anis & Elmagrhi, Mohamed H., 2023. "CSR, financial and non-financial performance in the tourism sector: A systematic literature review and future research agenda," International Review of Financial Analysis, Elsevier, vol. 89(C).

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