A Literature Review on the Financial Determinants of Hotel Default
Bibliographic record
Abstract
Empirical corporate failure studies focusing on specific economic activities are increasing in number, as this path can be a more precise investigation of default, although still there is a gap in the literature reviews at the sector level. The purpose of this study is to focus on the hotel sector and isolate the financial determinants linked to hotel default, as the approach of accounting-based models is the most frequent practice. To arrange the variety of outputs, a thorough design is applied based on specific inclusion and exclusion criteria, leading to 29 studies, which are further narrated, focusing mainly on the financial dimension. In addition, information on the study design is recorded in an aggregated table. The most frequent stylized results show that debt and liability measures increase the default risk, while measures of profitability and size in terms of total assets reduce the risk. This review addresses the calls for a sectoral focus and provides an up-to-date financial overview of hotel default assessments. It further aims to benefit academia, as it can act as a base for further development, as well as stakeholders involved in the financial sustainability of the hotel sector.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.002 | 0.001 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.001 | 0.000 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".