M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 1
A Compe i i e Success Model in he Ho el Indus y
.
Comple ed Resea ch Pape
M.Rosa io González-Rod íguez
Uni e si y o Se ille
[email p o ec ed]
José Luis Jiménez-Caballe o
Uni e si y o Se ille
[email p o ec ed]
Rosa io Ma ín-Sampe
Uni e si y o Se ille
[email p o ec ed]
Abs ac
The aim o he pape ocus on iden i ying hose ac o s in ol ed in he compe i i e success o
ho el companies and he in e ela ions be ween hem, aking in o accoun he socio-economic
in luence ha hese companies migh ha e on Andalusian egion and he ew s udies ca ied
ou in ou ism sec o so a . The s udy ies o speci y an econome ic model ha may include
ac o s ha appea as mechanisms o he gene a ion o compe i i e ad an age. The esea ch
model allows us o iden i y he ela i e impac o he “indus y ac o ” and he company’s
own speci ic ac o s, “ho el in angible esou ces”, on compe i i e success.
Keywo ds: compe i i eness, i m asse s, indus y o ces, s a egy managemen , p o i abili y,
ma ke posi ion.
1. In oduc ion
The ele ance o he Tou is Indus y in Spanish economy is a good eason o ca y ou a
esea ch ela ed o his Sec o . Economic indica o s suppo his s a emen . The weigh o he
Tou is Sec o in GDP is simila o ha o he Building Indus y o he Indus ial Sec o ,
eaching 11% o GDP in 2011 ( h ee imes he P ima y Sec o ) and o e ing employmen o
o e 2,3 million people in ou coun y . The igu es om Andalusia a e e en mo e signi ican
eaching 12,5% o GDP, 13% he o al employmen and 8% o he in es men in his Region
(INE, 2011).
Ho el companies, one o he pilla s in he ou is indus y, ecen ly expe ienced a p o i
making pe iod. Ne e heless, hey we e also a ec ed by he cu en c isis, eaching smalle
g ow h a es han hose o p e ious yea s and expe iencing an impo an p o i educ ion.
(CHEAT and P icewa e house Coope s 2008).
In he las decades, he sec o ’s g ow h demanded deep changes which eme ged in he
eigh ies, whose main pu poses we e o imp o e compe i i eness, sus ainabili y and quali y in
ou is companies. Cos managemen and he gene a ion o alue ha e appea ed as basic
pilla s o he changing p ocess. The ou is sec o should easily adjus o ma ke changes by
o e ing inno a i e p oduc s ha may mee he clien ’s needs oge he wi h be e quali y and
p ice le els as expec ed by hei ma ke niche.
In oday’s socie y, cha ac e ized by a global and dynamic economy in an age o impo an
echnological change and s ong compe i ion, he ou is sec o ’s challenge is o de elop new
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 2
capabili ies, new mode n, app op ia e managemen sys ems adjus ed o he new scena ios in
o de o achie e compe i i e ad an ages and he e o e be e esul s..
2. Li e a u e Re iew and Resea ch Hypo heses.
In o de o iden i y and analyze he success ac o s and hei in e ela ions which imp o e
he compe i i eness in ho els, we ocus on he Resou ce and Capabili y Theo y which was
de eloped and used by many esea ches om he six ies o he p esen (Pen ose, 1959;
Ba ney, 1991; G an , 1991; Ami and Schoemake , 1993; Fe nández, 1993; Nigh wea , 1996;
Dales and Gue a, 1996; Mon o , 2000; Ballas e o he, 2003; I P ick wi h Tho ns and
Census 2005).
Tha heo y conside s he company an idiosync a ic g oup o esou ces and capabili ies
wi h impe ec mobili y. Each company’s he e ogeneous na u e may be sus ained o e a long
e m since as Ba ney (1991) s a es hose esou ces a e cha ac e ized o be he e ogeneous, a e,
aluable, du able, inimi able, inapp op ia e and i eplaceable.
Many au ho s ied o iden i y hose success and compe i i e ac o s peculia o
companies. We ne el (1984) and G an (1991, p.19) es ablished a i s classi ica ion o
hese ac o s in o wo g oups, ex e nal and in e nal. Ex e nal ac o s a e hose which canno be
con olled by a company and a ise om he e y en i onmen pe o mance o he company
such as he social, economic, poli ical and legal a iables. Ex e nal ac o s include a g oup o
cha ac e is ics ha make up he indus ial en i onmen unde which compe i ion is de eloped
among companies, and is known as "indus y ac o ". Al hough ou is companies a e
especially sensi i e o ex e nal a iables, capabili ies and esou ces a e used by he companies
o de end hemsel es om an un a o able en i onmen and o ake ad an age o he
po en iali ies ha his si ua ion in ol es.
In e nal ac o s a e hose a iables peculia o each company and hus con ollable by
hem. They make companies di e en om one ano he . Resou ces can be classi ied in o
angible and in angible ac o s. On one hand, angible ac o s include bo h physical esou ces
( acili ies, p ope ies, machine y, e c.) and inancial esou ces which allow a company o
unde ake he necessa y in es men s o i s pu poses. On he o he hand, in angible esou ces
include capabili ies de eloped by company membe s and human, echnological, epu a ional
and o ganiza ional esou ces.
Al hough hose esea ches we e i s , based on he esou ce and capabili y heo y, and
ocused on he in e nal ac o s, in he las wo decades s udies ended o iden i y in e nal
ac o s as being esponsible o compe i i e success. In ho el companies, due o hei own
cha ac e is ics which dis inguish hem om each o he , he de elopmen o abili ies and
capabili ies as well as he es o in angible esou ces is eally ou s anding.
Since in angible esou ces especially in he ou is sec o a e also impo an o any
company, a concep ual and me hodological amewo k o analyze how and in wha way such
esou ces may in luence he compe i i e success is necessa y. Ne e heless, we ocused no
only on in angible ac o s, bu also on o he ac o s which may a ec compe i i eness such as
s a egy selec ion and hese e y speci ic ac o s o he ho el indus y (indus y e ec ). In ac ,
ecen li e a u e ecognized ha heo ies based on “compe i i e s a egy” and on “ esou ces
and capabili ies” complemen ed each o he and we e capable o explain a company
compe i i e success (Ami and Schoemake 1993; Mahoney 1995). Acco ding o We ne el
(1984), Po e ’s concep ual amewo k and he esou ce and capabili y heo y a e wo sides o
he same coin.
The cu en esea ch elies on an econome ic model ha may econcile heo ies based on
“compe i i e s a egy” and “ esou ces and capabili ies” (Figu e 1). The speci ica ion o he
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 3
model may be jus i ied acco ding o he ollowing issues: a) he wo heo ies a e
complemen a y and explana o y o he compe i i e success, in he sense ha one may ob ain a
mo e balanced iewed o compe i i e ad an ages; b) bo h pe spec i es y o explain he same
phenomenon (sus ainable compe i i e ad an age); and c) he uni o analysis is he same in
bo h heo ies, “company”.
The a iables included in he model a e, “compe i i e success” as an explained a iable,
and “in angible esou ces”, “s a egy posi ion” and “indus y e ec indus y” as explana o y
a iables. The a iable ho el size (numbe o ooms) is included as a con ol a iable in o de
o emo e he e ec o his a iable on dependen a iable.
The main objec i e o he speci ied model is o show he ela i e impac o he “indus y
ac o ” and speci ic ac o s o he company "in angible ho el esou ces" on compe i i e
success. The s udy ies o iden i y he pa e n o hose ac o s which may explain ho el
sec o ’s success as causal mechanisms o he gene a ion o compe i i e ad an age.
Figu e 1: Resea ch Model o Compe i i e success
This mul idi ec ional model inco po a es he ollowing e ec s: i) “S a egy E ec ” ha is
a necessa y condi ion o achie e compe i i e success; ii) “Indus y E ec " and iii) “peculia
e ec s” (indi ec e ec s) o he hose a iables ha would p o ide enough condi ions o
sus ainabili y o he compe i i e ad an age.
Acco ding o he app oach desc ibed abo e he ollowing hypo heses could be o mula ed:
H1: Compe i i e success depends di ec ly and indi ec ly on he in angible esou ces;
H2: Compe i i e success depends di ec ly and indi ec ly on he a iable “indus y e ec ”
H3: compe i i e success” depends di ec ly and indi ec ly on he a iable “s a egy.
The na u e o his esea ch equi es he de elopmen o a s uc u ed su ey add essed o
he ho el manage . The su ey uses subjec i e measu es which allow he s udy o de ine he
la en a iables conside ed in he model. All he cons uc s a e measu ed using Like scales.
Gi en he peculia i ies o he ho el company, mos o he used scales we e adap ed om
scales widely alida ed in he ex ensi e li e a u e on he ele an ac o s o compe i i e
success. The ques ionnai e is s uc u ed in i e pa s: he i s one is designed o ga he da a
ela ed o he company and he di ec o 's p o ile, he ou emaining pa s collec ed ques ions
ha measu e “compe i i e success”, “in angible esou ces”, “s a egy posi ion” o he
company and he "indus y e ec ”.
3. Me hodology
3.1. Sample and da a collec ion
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 4
The s udy ocuses on indi idual i ms om he ho el sec o o analyse he e ec s o he
s a egy, esou ces and capabili ies and indus y o ces on hei s eng h on compe i i eness in
he ou is des ina ion a ea whe e hey ope a e. In he p esen s udy, we choose o employ a
su ey-based me hod o collec da a and de ec any possible ela ionship be ween a iables,
pa icula ly o hose which a e unobse able cons uc s men ioned be o e as s a egy,
esou ces and capabili ies and indus y o ces. Di e en s ages we e ollowed o ensu e
esponse quali y and high esponse a e. Fi s , a ques ionnai e was designed acco ding o
heo e ical con ibu ions on hose opics. Valida ed scales om he li e a u e e iew o
measu e hose cons uc s we e used in he ques ionnai e. Second, due o he pa icula i y o
he ou ism sec o , he esea ch ins umen was adap ed o he sec o and p e es ed by
in e iewing CEOs om ho els wi h h ee, ou and i h s a s. Thi d, acco ding o CEOs
ecommenda ions and discussions wi h ques ionnai e design expe s he ini ial ques ionnai e
was modi ied o launch.
The inal ques ionnai e was based on mul i-i em se en-poin like scales ques ions o
hose aspec s ela ed o i m asse s, managemen s a egy, and compe i i e en i onmen . The
su ey also included con ol a iables o emo e any e ec s hey migh ha e on i m
pe o mance as size (numbe o employees, capaci y in e ms o a ailable ooms). O he
a iables ela ed o i m as age, ope a ing egime (owne ship, managemen , en al, anchise,
o he ), ypology (chain, amily business), and a iables ela ed o he CEO as gende and
yea s o expe ience we e include.
To de e mine he sample size, he ecommenda ion by G een (1991) wi h a s a is ical
powe o 80% was ollowed. Conside ing he ou p edic o a iables o he la en dependen
a iable, an ini ial minimum sample size o 124 ho els was needed o cap u e la ge p edic o
a iables e ec s, 59 ho els o medium e ec s and 38 o small e ec s o ob ain a s a is ical
powe o 0.80 and an alpha le el o 0.05. CEOs we e in e iewed by elephone o ob ain he
highes quali y esponse and highes esponse a e. The non- esponse a e was 6% and inal
sample wi h 94 ho els ope a ing in he p o ince o Se ille (andalusian egion) we e used o
he analysis.
Table 1 shows he main desc ip i e s a is ics o he esea ch a iables.
Typology
Ope a ing Regime
Chain
Classi ic s a s
U ban
Vaca ional
P op
Manag
Ren al
F anch
O he
Yes
No
2
3
4
5
66.3%
33.7%
30.4%
19.6%
41.%
6.5%
2.2%
69.6%
30.4
9.8
25
55
9.8
P op: P ope y; Manag: Managemen ; F anch: F anchise.
Family g oup
CEO gende
CEO age
CEO expe ie (yea s)
Yes
No
Man
Woman
1
2
3
4
Min
Max
50%
48.9%
68%
26.1%
0
28.3%
55.4%
16.3%
2
37
1.- Lowe han 25; 2: 26-35; 3: 36-50; o e 50
3.2. Measu emen o la en a iables
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 5
As desc ibed abo e a mul i-i em 7-poin Like scales we e used o measu e he indus y
o ces, s a egy and i m pe o mance. Measu es widely applied in he indus ial sec o we e
adap ed o he ho el sec o .
The i m pe o mance was ea ed as a wo-dimension cons uc , p o i abili y and ma ke
pe o mance. While P o i abili y ep esen as he in e nal-based pe o mance dimension,
ma ke sha e appea s o be he ex e nal-based pe o mance dimension (Spanos and Lioukas,
2001).
The wo dimensions we e measu ed by he ques ion, “please indica e o each ollowing
i em he posi ion o you i m ela i e o compe i ion o he las h ee yea s (1=much below
he a e age o 7=much abo e he a e age). P o i abili y was measu ed by di e en indica o s
as P o i ma gin, e u n on own, Ne p o i . C onbach’s alpha o p o i abili y was 0.984.
Ma ke pe o mance Ma ke posi ion was measu ed by Sales olume, G ow h in sales
olume, Ma ke sha e, G ow h in ma ke sha e. C obach’s alpha o Ma ke posi ion was
0.980.
These wo pe o mance measu es we e chosen since hey ha e been mos widely used in
he li e a u e as wo dimensions o i m pe o mance (Venka aman and Ramanujam, 1986;
Da is e al., 200; Spanos and Lioukas, 2001).
The in e nal-based pe o mance and ex e nal-based pe o mance we e included in he
model as wo lowe o de cons uc s (and he e o e no being included in a highe o de
cons uc ) since Ma ke pe o mance appea in mos empi ical s udies as in luencing
posi i ely and signi ican ly i m p o i abili y (Chang and Buzzell, 1983; P esco e al., 1986;
Galb ea h and Gal in, 2006).
The measu emen o he indus y o ces ies o cap u e he i e Po e ’s (1980)
compe i i e o ces by which manage s can c ea e and sus ain compe i i e ad an age will gi e
a company abo e-a e age p o i abili y. Ba ie s o en y, h ea o subs i u es, ba gaining
powe o buye s, ba gaining powe o supplie s we e measu ed by single i em ques ions and
cu en i al y.
The i s ou indus y o ces we e measu ed by single i em ques ions (Spanos and
Lioukas, 2001; Galb ea h and Gal in, 2006): “Please, p o ide he mo e accu a e answe o
each ollowing i em”: Numbe o ho el compe ing di ec ly wi h his/he ho el (1: e y high o
7= e y low); Is i easy he en y o compe i i e ho el in his/he sec o ? (1= e y easy o en e
o 1= e y di icul o en e ); Is you sec o h ea by subs i u es? (1=no a all o 7= e y
ex eme); wha is he ba gaining powe o e you cus ome s? (1= e y weak o 7= e y
s ong); Wha is he ba gaining powe o e you supplie s? (1= e y weak o 7= e y s ong).
The compe i i e i al y was a composi e cons uc (Ach ol and S e n, 1988) measu ed by
CEOs answe o he ollowing ques ion: How would you e alua e he in ensi y o compe i ion
you i m is acing wi h espec o (1= e y week compe i ion o 7= e y s ong compe i ion):
se ice s a egies cha ac e is ics; p oduc cha ac e is ics; physical ho el cha ac e is ics;
p omo ional s a egies; access o dis ibu ion channels. The C onbach’s alpha o i al y was
0.786.
Once manage s ha e de e mined wha h ea s and oppo uni ies exis in he en i onmen
hey ope a e, he app op ia e compe i i e s a egy should be selec ed. The scale de i ed and
adap ed o he ho el sec o om Mille (19988), consis ed o asking o he ex an o usage
compe i i e s a egies (1=much less han compe i o s o 7= much mo e han compe i o s)
ela ed o ma ke ing di e en ia ion, inno a ion di e en ia ion s a egy. The s a egy appea s
in he model as o ma i e cons uc since i ms can ollowed di e en s a egies o seek a
compe i i e ad an age.
The i m asse s was de ined as a highe o de cons uc including he o ganiza ional,
ma ke ing, echnical and epu a ional capabili ies as dimensions ollowing empi ical s udies

M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 6
as Mon o (2000), Spanos and Lioukas (2001) and Galb ea h and Gal in (2006).
To measu e each dimension CEOs we e asked o espond he ollowing ques ion: “Please,
indica e o each o he ollowing esou ces, he i m s eng h o you compe i ion (1=much
weake han compe i o s o 7= much s onge han compe i o s).
O ganiza ional asse s included manage ial compe encies, cul u e clima e, s a egic
planning, e icien o ganiza ional s uc u e, coo dina ion in ho el hie a chy, skills and know-
how o he ho el employees, abili y o a ac c ea i e employees. C onbach’s alpha 0.947
Ma ke ing capabili ies consis ed o ou i ems as ma ke knowledge, con ol and access o
dis ibu ion channels, ad an ageous ela ionship wi h cus ome s and supplie s, cus ome
ins alled based. C onbach’s alpha 0.910.
Technical capabili ies de ined by echnological esou ces (cen al ese e sys em, in ane ,
e-booking), ho el equipmen and geog aphical localiza ion. C onbach’s alpha 0.912.
Repu a ional asse s including cus ome se ice epu a ion and company epu a ion ela ed
o social and en i onmen al esponsibili y. C onbach’s alpha 0.952.
Con ol a iables.
S a egy
Fi m size (numbe o employees) cons i u es a common con ol a iable o be used o
emo e wha e e e ec s i could ha e on i m pe o mance.
4. Resul s
The s uc u al ela ions among he cons uc s p oposed in ou esea ch model we e es ed
applying Pa ial Leas Squa es (PLS), a a iance-based s uc u al modeling echnique. PLS
cons i u es amily o leas squa es algo i hm, which applies p incipal componen and
canonical co ela ion analyisis (Hensele e al., 2009). PLS modeling echnique p esen s
ce ain ad an ages o esea che s and p ac i ione s in social sciences (Hai e al., 2014).
Fi s , he me hod ocuses on p edic ion o a se o hypo hesized ela ionships maximizing he
explained a iance o he dependen a iable. Second, PLS pa h models can be e y complex
in ol ing many la en and mani es a iables wi hou leading o es ima ion p oblems (Wold,
1985). Thi d, PLS p esen s a g ea e lexibili y ega ding o sample size and no mal da a
dis ibu ion equi emen han he co a iance-based SEMs. PLS-SEM p o ides e y obus
model es ima ions wi h ei he no mal dis ibu ion da a o non-no mal dis ibu ion da a (Ringle
e al., 2009).
4.1. Measu emen Model
The cons uc i m asse s has been de ined as a e lec i e- o ma i e second-high o de
cons uc (HOC) om cons uc s such as ma ke ing, o ganiza ional, echnical and epu a ional
capabili ies. S a egy has been de ined as a o ma i e- o ma i e HOC om ma ke ing
di e en ia ion, Inno a i e di e en ia ion and low cos s a egy. Fo bo h cons uc s, a second-
S age App oach o hie a chical componen models (HCM) (Ringle e al., 2012) has been
applied. The measu emen model e alua ion o e lec i e cons uc s was based on he
cons uc in e nal consis ency (composi e eliabili y), con e gen (i em eliabili y and AVE,
he a e age a iance ex ac ed), disc iminan alidi y by Fo nell-Lacke c i e ion (Hai e al.,
2014, Hensele e al., 2009) and He e o ai -mono ai a io o co ela ions (HTMT) (Hensele
e al., 2015).
4.1. 1 Validi y Assesmen o Re lec i e Measu emen Models
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 7
Fo m Table 1 all e lec i e cons uc s p esen in e nal consis ency eliabili y wi h
composi e eliabili y measu es g ea e han 0.9. All e lec i e cons uc show con e gen
alidi y wi h ac o loading g ea e han 0.707, and AVE measu es highe han 0. Fo
adequa e disc iminan alidi y, he diagonal elemen s should be exceeding he squa e
co ela ions wi h any o he cons uc s (Ba clay e al., 1995). This equisi e is sa is ied o he
la en e lec i e a iables o he esea ch model.
Table 1: Measu emen Model Re lec i e Cons uc s
Cons uc s
I ems
Composi e
eliabili y
I em
eliabili y
AVE
Compe i i e i al y
Physical cha ac e is ics
0.8635
0.712
0.5603
Se ice Cha ac e is ics
0.843
P omo ional s a egies
0.783
Access o dis ibu ion
channels
0.728
Geog aphical Localiza ion
0.664
Ma ke
Pe o mance
0.9843
0.9126
Sales olume
0.967
Sales g ow h
0.983
Ma ke sha e
0.978
G ow h Ma ke sha e
0.
P o i abili y
0.9885
0.9554
P o i ma gin
0.967
Re u n on capi al
0.983
Ne p o i
0.978
Ma ke ing
Capabili ies
0.9245
0.7546
Ma ke Knowledge
0.827
Con ol and access o
dis ibu ion channels
0.918
Ad an ageous ela ionships
wi h cus ome s
0.933
Cus ome ins alled base
0.799
Technical
Capabili ies
0.856
0.748
Technical esou ces
0.883
Ho el equipmen
0.847
O ganiza ional
capabili ies
0.9714
0.810
Abili y o a ac c ea i e
employees
0.782
Cul u al clima e
0.887
O ganiza ional
0.902
S a egic planning
0.918
E icien o ganiza ional
s uc u e
0.910
Coo dina ion
0.950
Skills and Know-how
employees
0.925
Repu a ional
capabili ies
0.928
0.6918
En i onmen al CSR
0.867
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 8
P omo e women on boa ds
0.872
Imp o e he socioeconomic
si ua ion in he a ea i
ope a es
0.840
To imp o e ulne able
g oups’ social in eg a ion
0.834
Table 2: Measu emen Model. Disc iminan and HTMT Validi y
Disc iminan alidi y Fo nell-La cke
HTMT alidi y
1
2
3
1
2
1. Ri al y Compe i i e
0.750
2. Ma ke Pe o mance
0.566
0.955
0.627
C.I. (0.541,0.703)
3. P o i abili y
0.606
0.901
0.977
0.674
C.I. (0.601, 0.748)
0.90
C.I. (0.886, 0.945)
No es: Diagonal elemen s a e AVE-Squa ed. O -diagonal elemen s a e co ela ions among cons uc s
Using HTMT as a c i e ion o alidi y, HTMT alues close o 1 indica e lack o disc iminan
alidi y (Hensele e al., 2015), as seen om HTMT be ween he cons uc s p o i abili y and
ma ke pe o mance since bo h ep esen i m pe o mance and could be educed o a second
HOC. Howe e , we ha e decided o keep bo h cons uc s since he con idence in e als o he
HTMT by applying boos aping p ocedu e in o de o es he hypo hesis (H0: HTMT≥1), do
no con ain alue one indica ing disc iminan alidi y.
4.1. 1 Validi y Assesmen o Re lec i e Measu emen Models
No c i ical le els o collinea i y we e obse ed in he o ma i e cons uc S a egy (VIF lowe
han 5).
Table 3: Fo ma i e Cons uc
S a egy
Weigh s/
ou e loading
Sig.
Ma ke ing Di e en ia ion: Inno a ion in Ma ke ing
echniques
0.259 (0.752)
2.01
**
Inno a i e Di e ian ia ion: Inno a ion in p ocess and
p oduc s
0.556 (0.953)
32.65
***
Fi m asse s
Weigh s/
ou e loading
Sig.
O ganiza ional
0.144 (0.752)
2.01
**
Ma ke ing
Technical
0.156 (0.953)
0.235 (0.872)
3.65
2.65
***
**
4.2. S uc u al Model
The Model o be es ima ed is composed o e lec i e and o ma i e cons uc s, hus,
adi ional PLS algo i hm ins ead o PLS consis en has been applied o es ima e pa h
ela ions (Dijks a and Hensele , 2015). Resul s ob ained om he es ima ed model in Figu e
1 a e shown in Table 4 and 5. Table 4 desc ibes he di ec e ec s obse ed o s a egy,
indus y o ces and i ms asse s on i m pe o mance (p o i abili y and Ma ke pe o mance)
and Ma ke pe o mance on p o i abili y. Table 5 p esen s he media ing e ec s o he
s a egy o he i m asse s and compe i i e i al y on i m pe o mance.
M.Rosa io González-Rod íguez e al. Success Model in Ho el Indus y
2nd In e na ional Symposium on Pa ial Leas Squa es Pa h Modeling, Se ille (Spain), 2015 9
Table 4: Di ec E ec s on Fi m compe i i eness
Two- ail es *** deno es p<0.01; **p<0.05: -s a is ics in absolu e alue.
Hypo hesis on media ing e ec has been es ed ollowing P eache and Haye app oach
(2004, 2008, 2011) and shown in Table 2.
Table 5: Media ing E ec s on Fi m Pe o mance (Ma ke pe o mance and p o i abili y).
Indi ec
e ec
Con idence
In e al
Fi m asse sàS a egyàMa ke Pe o mance
0.1992
( =2.90)
(0.0645, 0.3345)
Fi m asse sà S a egyà P o i abili y
Fi m asse sàS a egyàMa ke Pe àp o i abili y
0.2154
( =2.87)
(0.0739,0.3654)
S a egyàCompe i i e Ri al yàMa ke Pe o mance
-0.030ns
( =0.34)
(-0.2172,0.1485)
S a egyàCompe i i e Ri al yàP o i abili y
S a egyàCompe i i e Ri al yàMa ke
pe o manceàP o i abili y
0.061
( =0.45)
(-0.153, 0.098)
Compe i i e Ri al yàMa ke Pe o manceà P o i abili y
-0.0321
( =-0.33)
(-0.2243,0.1601)
Two- ailed es *** deno es p<0.01; **p<0.05: -s a is ics in absolu e alue.
Fi m asse s appea o ha e a signi ican posi i e di ec e ec on Ma ke pe o mance, and
also an indi ec e ec h ough s a egy is obse ed. S a egies also ha e a posi i e di ec
e ec on i m pe o mance bu do no ha e an indi ec e ec on ma ke pe o mance. Nei he
Fi m Pe o mance
Pa h coe icien s
Ma ke
Pe o mance
R2=0.535
P o i abili y
R2=0.837
S a egy
R2=0.266
Indus y Fo ces
R2=0.523( i al y)
S a egy
0.323***
( =3.036)
0.083ns
( =0.873)
0.777***
( =16.383)
Fi m asse s
0.546***
( =6.625)
-0.055
( =0.114)
0.617***
( =9.835)
Indus y Fo ces
Compe i i e i al y
-0.039
( =0.322)
0.111*
( =1.99)
Ba ies o en y
0.084ns
0.014ns
Th ea o subs i u es
0.001Ns
0.118ns
ba gaining powe o buye s,
0.106Ns
-0.112ns
ba gaining powe o supplie s
-0.046ns
-0.124**
Ma ke pe o mance
-
0.824***
( =12.673)
Size
0.125**
( =1.907)
0.107***
( =11.642)