Purpose – The paper aims to provide empirical evidence that certain financial characteristics are critical for lodging firms to earn a higher profit. Further, it proposes, perhaps more importantly, a robust empirical framework for identifying outperformance in profitability, which has been...

Purpose – The purpose of the current study is to investigate the existence of a negative synergy effect of internationalization and firm size on firm performance for publicly traded US hotels. Design/methodology/approach – The study performs the two-way fixed-effects model to investigate the...