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Analyzing income statement of 3 star hotels in Thessaloniki

Author

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  • Vassilis Chouliaras

    (Technological Education Institute of Serres, Department of Accounting, Greece)

Abstract

The sector of hotel business in Greece is facing major problems. Based on several scientific studies, there is deteriorating financial situation and reduced efficiency. Moreover, many hotels have shown repeated losses. This study has attempted to investigate the effectiveness of the three star hotels of the city of Thessaloniki compared with the whole country. Also, with the regression method (regression analysis) sought the sources of profit or loss. Based on the accounts of all the hotels of this category in Thessaloniki, it was found that the economic situation and their effectiveness is not significantly different to that of the national total, although in general the situation is better. In addition, the structure of balance sheets and income statements show many differences between the different companies so it is not possible to draw firm conclusions about the sources of efficiency.

Suggested Citation

  • Vassilis Chouliaras, 2012. "Analyzing income statement of 3 star hotels in Thessaloniki," Tourism and Hospitality Management, University of Rijeka, Faculty of Tourism and Hospitality Management, vol. 18(1), pages 83-93, May.
    • Handle: RePEc:tho:journl:v:18:y:2012:n:1:p:83-93
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    Cited by:

    1. Tatjana Stanovcic & Ilija Moric & Tanja Lakovic & Sanja Pekovic, 2015. "Analysis of Financial Indicators of Montenegrin Hotel Industry," MIC 2015: Managing Sustainable Growth; Proceedings of the Joint International Conference, Portorož, Slovenia, 28–30 May 2015,, University of Primorska, Faculty of Management Koper.

    More about this item

    Keywords

    Hotels; Hotel operations; Profitability; Financial statements;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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