European hotels, which tend to be individual businesses, have a hard time resisting the continued globalization pressure. In order to survive the fierce international competition…
Abstract
European hotels, which tend to be individual businesses, have a hard time resisting the continued globalization pressure. In order to survive the fierce international competition, Europe's hotel business needs to offer their potential customers an added value that they do not receive from hotel chains. The author shows how European hotels can prevail by developing international service competencies.
The significance of private equity as a form of financing and investing has led to growing interest in the real estate economy over the past few years. Anglo‐American investors in…
Abstract
The significance of private equity as a form of financing and investing has led to growing interest in the real estate economy over the past few years. Anglo‐American investors in particular are currently engaged in large‐scale real estate transactions and have now become the most important group of investors in the European hotel real estate market. However, for private equity funds, the high risk of investing in complex tourism and specialized real estate such as hotels is always coupled with an expectation of returns well above the market average. Yet actually achieving above market returns is not always accomplished. This paper therefore deals with the question of why some real estate private equity investors succeed in getting returns above the total market average even in the overall bear Western European market environment while others fail to do so. It shows that one formula for success includes deliberately exploiting market imperfections und overcoming inefficient information policies.
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The development in the German-speaking countries of International Management (IM) as an academic discipline is analyzed both from a research-oriented and an institutional…
Abstract
The development in the German-speaking countries of International Management (IM) as an academic discipline is analyzed both from a research-oriented and an institutional standpoint. This development is characterized by a relatively long run-up after early beginnings in the 1920s and a steep jump during the past 15–20 years. Business Administration and Strategic Management rather than Economics have influenced the IM field which is now an established subject in its own right. The resulting discipline is well on its way to overcoming an alleged “black hole-image” of international isolation on the part of German-speaking countries’ scholars.