Purpose: The purpose of this paper is twofold. First, the study examines the prolonged effect of policy-related economic uncertainty on hotel operating performance, particularly the room demand (occupancy). Second, the study attempts to explain why occupancy drops when the perceived economic...

The purpose of this paper is to further investigate a previously researched positive relationship between the long-term debt ratio and growth opportunities in the U.S. lodging industry. Research by Smith and Watts (1992) and Barclay and Smith (1993) finds that firms with more growth...