Mergers and acquisitions in the hotel industry: A comprehensive review |
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| Institution: | 1. School of Hotel and Tourism Management, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong, China;2. School of Hospitality Management, The Pennsylvania State University, State College, PA, 16802, United States;1. Auckland University of Technology (AUT), 55 Wellesley Street East, Private Bag 92006, Auckland 1142, New Zealand;2. Southern Cross University, Military Road, East Lismore, NSW, 2480, Australia;1. Turku School of Economics, University of Turku, Rehtorinpelllonkatu 3, 20500 Turku, Finland;2. Lancaster University Management School, Lancaster University, Lancaster, LA1 4YX, United Kingdom;1. Department of Accounting and Financial Management, International Business School, Beijing Foreign Studies University, China;2. Department of Accountancy, College of Business, City University of Hong Kong, Hong Kong;1. Department of Hospitality & Tourism Management, Pamplin College of Business, Virginia Tech, 342 Wallace Hall, 295 West Campus Drive, Blacksburg, VA 24061-0429, United States;2. Department of Hospitality & Tourism Management, Pamplin College of Business, Virginia Tech, 363B Wallace Hall, 295 West Campus Drive, Blacksburg, VA 24061-0429, United States;1. Department of Business Administration, Soochow University, Taipei, Taiwan;2. Department of Finance, National Taipei University of Business, Taipei, Taiwan;3. Department of Economics and Finance, University of Dayton, Dayton, OH, United States |
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| Abstract: | This study aims to evaluate the current status of merger and acquisition (M&A) studies in the hotel industry and propose directions for future research. Forty-six articles were identified from ScienceDirect, Scopus, and EBSCOhost including 31 empirical and 15 conceptual articles. We review these articles from five perspectives, namely, journal/year distribution, methodology, research context, theoretical foundation and major topics. Findings reveal most studies on M&As in the hotel industry (hotel M&As) focus on performance, motivation and objectives. Developed economies (DEs) are the major research contexts and quantitative approach is the dominant research method. To this end, we propose seven research directions that cover outstanding themes as follows: 1) exploring M&A process, 2) M&A performance assessment, 3) identifying M&A impacts on stakeholders, 4) examining cross-border M&As, 5) examining emerging economies (EE)-based M&As, 6) investigating macro environment impacts, and 7) premium determinants and their impacts on hotel M&As. |
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| Keywords: | Merger Acquisition Merger and acquisition Hotel industry Literature review |
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