Romanian Hotel Industry Profile through the Traded Hotel Companies

The hotel industry is an important component of any tourist destination. However, fewer studies are dedicated to hotel industry than to the tourism and travel sector as a hole. Even less studies are available on hotel companies listed on stock exchanges around the world. The present study completes the profile of Romanian hotel industry by analyzing the traded hotel companies on Romanian stock exchange. The findings imply that the listed hotel companies are rather traded by those investors who are involved in the ownership concentration process. For the analyzed period, the free float of a company, the market capitalization seem to be factors that play a role in the trading decision of portfolio investors, while financial ratios are almost ignored.