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Insolvency of the Hotels Among Visegrad-Plus Countries

In: Eurasian Business Perspectives

Author

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  • Tomáš Heryán

    (Silesian University in Opava, School of Business Administration in Karvina)

Abstract

The paper has focused on the problematic of corporate insolvency among hotels in Visegrad-PLUS countries. Visegrad Group, well known as V4 (Czech Republic, Hungary, Poland and Slovakia), is negotiating with two possible new members, Austria and Slovenia. However, the problem of insolvency affects the hotels as well. The aim of the study is to investigate how is the solvency of the hotels among V4 PLUS countries affected by their liquidity and the relations with their debtors. As the main estimation method it has been used GMM regression with pooled data of hotels from selected countries. It is obtained annual data for the hotels’ balance sheets and the profit and loss statements from Bureau van Dijk’s AMADEUS international statistical database. It is argued that turnover of creditors’ claims is positively affected by turnover of debtors’ receivables among hotels in all selected countries. In some cases even current liquidity has a significant impact on that. The situation is the most obvious in the case of the hotel industry of Hungary and Slovenia, two economies whose companies are considered as the most affected by the corporate insolvency due to Creditreform agency. Finally, there are some ideas for future research in that area.

Suggested Citation

  • Tomáš Heryán, 2018. "Insolvency of the Hotels Among Visegrad-Plus Countries," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Eurasian Business Perspectives, pages 39-48, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-67913-6_3
    DOI: 10.1007/978-3-319-67913-6_3
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