• Culinary science and hospitality research
• /
• v.22 no.3
• /
• pp.212-223
• /
• 2016

The purpose of this study is to verify information spillover effects using returns of macroeconomic variables and hotel leisure stock index daily data from January 4, 2000 to December 30, 2015. The findings and implications of the research can be summarized as follows. First, based on time-varying AR(1)-GARCH(1,1) models no evidence of statistically significant conditional mean and volatility spillover effects from returns of macroeconomic variables on the hotel leisure stock index was observed. In addition, no evidence of price volatility spillover from macroeconomic variables on the hotel leisure market was observed. Second, it was discovered that there exists a significantly negative relationship between the return of ER and hotel leisure stock prices, but a positive relationship between the KOSPI and hotel leisure stock prices. Finally, the study also found that was a significantly positive relationship between the volatility of DUB and hotel leisure market, and an adversely negative relationship between the volatility of ER and hotel leisure market. The results of this study are expected to contribute by providing useful information for investment strategies, as well as for risk management for investors and managers.

• Journal of Applied Tourism Food and Beverage Management and Research
• /
• v.13 no.1
• /
• pp.81-110
• /
• 2002

The temporary tax deduction on investment cutting the corporate income tax within 10% of the amount of investment is aimed at stimulating the investment for economic activity. 25 business sectors are applied to this tax law and in tourism, the accommodation registered by tour promotion law and international convention plan business belong to it. I'd like to mention the problem of the temporary tax deduction on investment amount for hotels and suggest better solutions. This tax law is so temporary applied that we shouldn't get tax deduction after June 30, 2002. So, we can't get income tax deduction on the investment out of the available period. And further more this tax law has a rule not real investment but solely new project investment for hotels. There are numbers of difference between real investment and new project investment. The amount of investment is based on an object of acquisition taxation. And also there are numbers of difference between real investment and an object of acquisition taxation. For example, landscape construction is a great part of hotel construction but it's not an object of acquisition taxation. For running hotel business, we also need lots of equipments such as linens utensils for restaurant and decorations for hotel interior. But these are also excluded from this tax law. As you know, these equipments can be regarded as product equipments in manufacture industry. Therefore we should take the specificity of hotel investment into consideration and expand the role of the temporary income tax deduction on investment amount for hotels.

• Journal of the Economic Geographical Society of Korea
• /
• v.14 no.4
• /
• pp.524-539
• /
• 2011

This paper aims to analyze the characteristics of hotel REITs' performance and operation, and to examine their use for activating the hotel industries in Korea. The results of this study are as follows. First, hotel REITs underperformed average REITs and investment proportion of hotel REITs compared to total REITs has been curtailed after 1998. This is because performance of hotel REITs is sensitive to business fluctuations. Second, hotel REITs have mainly invested chain hotels, and shared their role with professional hotel management companies. Third, hotel REITs are to be useful for activating the hotel industries in Korea. In this context, major implications are presented to use healthcare REITs effectively.

• Journal of Applied Tourism Food and Beverage Management and Research
• /
• v.16 no.1
• /
• pp.21-41
• /
• 2005

This study proposes the customer quality a parameter of service quality from a new perspective, develops and evaluation scale for it in relation to service business, analyzes and evaluates the its effect on service quality and performance. First, the concept of service quality and customer quality was investigated in the literatures, to find a basis for its relation to the quality of hotel service. However, previous 1) Among the service quality components, the strongest correlation exists between physical quality and service quality. 2) Hotel quality is most influenced by customer quality, followed by service provider quality and physical quality showing that when customer quality is incorporated as a prerequisite parameter if hotel quality it has the most effect on hotel quality, which is a new result. 3) Customer quality plays a significant indirect role via hotel quality on performance, and the physical quality and service provider quality offered to the customer at a hotel have more direct effect on performance, illustrating the difference in the effect on hotel quality depending on the component of hotel quality. 4) The evaluation of hotel quality and performance becomes more meaningful and valid only when customer quality is included as a prerequisite parameter of hotel quality to strongly interact with service provider quality 5) Comparative analysis of the different qualities according to the hotel class show a significant difference in customer quality, physical quality and service provider quality and performance between first-class and second-class hotels.

• Journal of Distribution Science
• /
• v.15 no.3
• /
• pp.27-37
• /
• 2017

Purpose - The current study analyzes the effect of business startup education on business startup education satisfaction and entrepreneurial intention. Also, it attempts to discover if business startup confidence plays a moderating role between business startup education satisfaction and entrepreneurial intention. Research design, data, and methodology - The survey was conducted for approximately 60 days, from July 20, 2016 to September 20, 2016, and distributed to 300 restaurant founders who started their business through business startup education provided by Korea Food Service Industry Association in Seoul, Kyungki and Incheon or existing business founders. Results - Per multiple regression analysis of business startup education and business startup education satisfaction, among business startup education, all law, entrepreneurship, commercial power analysis, and practical education have significantly positive effect. Per simple regression analysis of business startup education satisfaction and entrepreneurial intention, business startup education has significantly positive effects on entrepreneurial intention. Business startup education satisfaction and business startup confidence interaction show that they do not have a moderating role between business startup education satisfaction and entrepreneurial intention. Conclusions - Setting up theoretical reasoning, this study supports conclusions drawn by prior studies: business startup education has significantly positive effects on business startup education satisfaction and entrepreneurial intention.

• International Journal of Advanced Culture Technology
• /
• v.5 no.4
• /
• pp.63-70
• /
• 2017

The purpose of the study is to analyze the effects of customer satisfaction verses eco-friendly agricultural products (ingredients) awareness factors in luxury hotel Chinese restaurants on hotel image and customer loyalty (repurchase intention). To analyze what kind of effects of customer satisfaction verses eco-friendly agricultural products (ingredients) awareness factors in Chinese restaurants have on hotel image and behavior intention (loyalty), the study identified eco-friendly ingredients awareness factors. The study aims to suggest implications on service strategies and marketing strategies in luxury hotel Chinese restaurants based on the influence of customer satisfaction on hotel image and behavior intention (loyalty) using the identified factors.

• Culinary science and hospitality research
• /
• v.15 no.2
• /
• pp.205-218
• /
• 2009

The purpose of this study was to analyze what effects the service quality of the food and beverage section have on its organization value in the value-oriented hotel business, how the organization value influence work performance, and what causal relationships exist among variable factors such as service quality, organization value, and work performance for helping get the hotel business more profitable through guiding service improvements. For conducting the study, full-time staff working at the restaurants of premium hotels in Seoul participated in the test as samples from January 10th to January 22nd, 2009. The statistical data analyses were completed using the SPSS 12.0 program, and frequency analyses, reliability analysis, factor analysis, multiple regression analysis were conducted. The main results of this study were as follows. First, service quality of the food and beverage section in the hotel business caused positive effects on organization values. Second, it was found that the organization value and service quality also positively influenced work performance. Third, among service quality, organization value, and work performance, service quality had a direct effect on business performance, and organization value played an indirect role to cause effects on work performance through service quality. Accordingly, all of the workers engaging in the hotel business, including board of directors, ordinary managers and staff working at the food and beverage section, are highly required to recognize how keenly important service quality is for the hotel business.

• Journal of Distribution Science
• /
• v.13 no.9
• /
• pp.29-36
• /
• 2015

Purpose - The purpose of this study is to examine the influence of effective role-play and training on employee education satisfaction and customer orientation. Evidence of the suggested objective is obtained by monitoring the effectiveness of hotel service training. Research design, data, and methodology - Data were collected from 280 role-play sessions performed in a Korean Hotel and examined using a frequency analysis, reliability/validity assessments, correlation analysis, and regression analysis using SPSS 19.0. Results - 1) Entrepreneurs and training instructors should enthusiastically apply service education in order to enhance each employee d evaluation in terms of customer satisfaction and customer orientation. 2) The most effective factor on customer satisfaction and orientation is the instructor's qualifications. 3) Since a higher level of education-training satisfaction leads to better customer orientation, effective education-training is essential to achieve this result. Conclusions - The study was able to obtain practical evidence that can confirm that service education-training through role-play positively affects employee customer service orientation. In future advanced research on training effects on customer orientation, various internal factors of a business should also be considered.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.12 no.2
• /
• pp.9-18
• /
• 2024

Purpose: This study compares Korean and Chinese consumers on the impact of customer equity on trust. Although there have been many studies regarding the impact of customer equity, most of them are limited to the retail and banking industry and mostly compare East and West cultures. Therefore, this study compares Korea and China within East Asia in the hotel industry. Research design, data and methodology: Based on reviews in the literature, this study explores different effects of customer equity on brand trust between Korea and China. To confirm the hypotheses, the research collected survey data from 186 Korean and 155 Chinese respondents. After confirming reliability and validity of measures, this study conducted a multiple regression to test proposed hypotheses. Results: The results of the study showed that all of three customer equities influences on trust positively in the hotel industry. Regarding comparing Korea and China, brand equity has stronger impact on trust in Chinese customers than South Korean customers, on the other hand, value equity and relationship equity had a slightly stronger positive effect in South Korea than in China. Conclusions: This study found significant differences between Korean and Chinese customers in the hotel industry. These results show that even two countries in the same region of East Asia, South Korea and China, are different. Also, this finding suggests that hotel management level should consider differentiating their marketing strategies for Korean and Chinese customers.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.12 no.2
• /
• pp.35-42
• /
• 2024

Purpose: With the growth of the hospitality industry, it is imperative to identify how smart tourism characteristics may be used in hotel management. Current and emerging technologies such as analytic tools, automation, and Artificial Intelligence (AI) help to create value for the guests while also contributing to waste reduction, resource optimization, and increased profitability in the industry. Research design, data and methodology: The literature review was conducted to examine a broad scope of research in analyzing smart tourism characteristics for the improved management of hotels and establish the necessary background for this issue. The analysis was employed to specify the systematic approach of selecting, scrutinizing, and integrating the source of information. Results: According to the systematic literature analysis, four smart tourism characteristics have been established, which can improve various aspects of hotel management. They are as follows: (1) Smart Guest Experience Management, (2) Smart Operations and Resource Management, (3) Smart Customer Relationship Management, and (4) Smart Destination Management. Conclusions: The findings expose the radical approach that smart tourism characteristics take towards the management of hotels. The developments in IT and science-oriented solutions have opened greater opportunities as the hotel industry can enhance clients' satisfaction, productivity, and participation in environmental conservation initiatives for tourism.