Resumo

RAMON-DANGLA, Remedios. Crisis and survival strategy in the hospitality industry: An approach through financial statements. TMStudies [online]. 2016, vol.12, n.2, pp.117-126. ISSN 2182-8458.  https://doi.org/10.18089/tms.2016.12213.

The aim of this study is to see if the survival strategy of Spanish Hotels on the current crisis has left a mark in their Financial Statements and if the changes have taken place at the same time as the national economy was evolving. To do this, we have obtained a sample of 975 companies from SABI. We have made the financial ratios and applied them a paired t-test measurements. It has rejected the null hypothesis of equal means with a 95% confidence for profitability, solvency and indebtedness ratios: the crisis could have been the reason of lower profitability and debt and higher levels of liquidity, solvency and efficiency. On the other hand, with a regression we have researched the economic variables which can explain better the hotels income evolution: the foreign tourist arrivals are the key for the anti-cyclical behavior of the sector.

Palavras-chave : Hospitality industry; financial statements; solvency; indebtedness; profitability; economic crisis.

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