Hospitality Industry Profitability Trends: 2019-2023 Financial Report Data Study

Authors

  • Leti Ajarwati Lahagu STIEPARI Semarang Author
  • Dyah Palupiningtyas STIEPARI Semarang Author

DOI:

https://doi.org/10.59890/nz0n0s69

Keywords:

Hotel Profitability, Adaptive Strategies, Covid-19 Pandemic, Hospitality Industry Recovery, Business Resilience

Abstract

Hotel Ciputra Semarang's profitability patterns from 2019 to 2023 are examined, including the COVID-19 pandemic's influence. The research uses a mixed-method technique to analyze financial data quantitatively and managerial interviews qualitatively. Gross Operating Profit fell 60% and Net Operating Income fell 75% in 2020 compared to 2019. Signs of recovery appeared in 2021-2022. Profitability depended on occupancy and RevPAR. Hotel adaptations included rigorous health procedures, unique room packages, and digital technologies. The epidemic hurt revenue, but creative measures helped recovery, highlighting the hotel industry's need for adaptation and resilience

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Published

2024-08-01

Issue

Vol. 2 No. 4 (2024): July 2024

Section

Articles

License

Copyright (c) 2024 Leti Ajarwati Lahagu, Dyah Palupiningtyas (Author)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

Hospitality Industry Profitability Trends: 2019-2023 Financial Report Data Study. (2024). International Journal of Finance and Business Management (IJFBM), 2(4), 505-516. https://doi.org/10.59890/nz0n0s69