The issues relating to the functioning of the tourism economy include both the activities of tourism enterprises and spatial units, i.e., tourism destinations, as well as tourism demand, including tourists' purchasing behavior. The aim of the Special Issue of Economies is to present the current...

We examine the post-IPO excess stock returns of hospitality firms from 1996 to 2012 and find underperformance relative to the market on average. However, there are large differences in returns and some firms significantly outperform. We demonstrate that a substantial portion of this variation...