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Full-Text Articles in Hospitality Administration and Management

The Effects Of Short-Term Rentals On Communities And How To Legislate Them: An Expanded Literary Review, William Cherry May 2024

The Effects Of Short-Term Rentals On Communities And How To Legislate Them: An Expanded Literary Review, William Cherry

Finance Undergraduate Honors Theses

A literary review of the economic and socioeconomic effects of short-term rental properties, specifically the commercialization of the industry based upon other research studies. An in-depth look at how commercialized short-term rentals effect the younger generation, hospitality industry, housing market, communities they reside in, and other externalities. A further review of different legal case studies of short-term rental legislation in major cities across the globe and their varying degrees of effectiveness.

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Taking Pleasure In Distinction: Unlocking Specialty Coffee Preference, Ondrej Mitas, Danny D. Han, Belle Struijer, Lotte Willems, Thomas H. Chatwick Mar 2024

Taking Pleasure In Distinction: Unlocking Specialty Coffee Preference, Ondrej Mitas, Danny D. Han, Belle Struijer, Lotte Willems, Thomas H. Chatwick

Journal of Global Business Insights

Specialty coffee, comprising a tenth of the global coffee trade, is distinguished by its strict quality requirements and traceable origins. The diverse flavor profiles of specialty coffee raise demands on providers to serve individual taste preferences. Prior research has not sufficiently explored how to predict customer preferences for specific flavor profiles or how these preferences influence behavioral intentions such as revisiting or recommending a café. This study hypothesized that customer involvement, the extrinsic factors of coffee experience, and culinary risk-taking would predict flavor preference, which would in turn affect behavioral intentions. In an experiment involving 47 participants, individuals tasted and …

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Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, Thomas E. Lambert Mar 2024

Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, Thomas E. Lambert

Faculty Scholarship

The Commonwealth of Kentucky currently has 5 thoroughbred racing tracks and 3 harness racing tracks (Kentucky Horse Racing Commission 2023 and Mint Julep Louisville 2021). As Table 1 below shows, the industry employees roughly 7,000 people (direct jobs), and these jobs annually support another 2,000 jobs or so throughout the state. These 2,000 jobs are jobs that are provided by the suppliers to the horse race tracks (indirect jobs) and jobs that are created by the spending of the race track employees and the employees of suppliers on food, housing, transportation, and clothing by vendors and retailers throughout the state …

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A Comparison Of Clustered And Isolated Casino Performance In Missouri, Douglas M. Walker, Todd M. Nesbit Oct 2023

A Comparison Of Clustered And Isolated Casino Performance In Missouri, Douglas M. Walker, Todd M. Nesbit

UNLV Gaming Research & Review Journal

This paper utilizes data on Missouri’s casino industry to examine how clustered casinos, such as those in Kansas City and St. Louis, perform compared to dispersed or isolated casinos, such as those in Boonville, Caruthersville, La Grange, and St. Joseph. Missouri limits the number of casino licenses allowed; however, it does not explicitly mandate casino locations. Missouri provides a unique natural experiment for comparing location model performance. Although there is no published research on which type of casino location model is more effective for generating industry revenues and associated taxes, state legislatures have nevertheless been following an isolated casino location …

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Recent Impacts Of Penny And Fixed Odds Wagering: What Does The Future Hold?, Thomas E. Lambert Jul 2023

Recent Impacts Of Penny And Fixed Odds Wagering: What Does The Future Hold?, Thomas E. Lambert

Faculty Scholarship

In order hopefully to revive attendance at the tracks and/or fuel a resurgence in gambling (either in person or virtually), the last year has seen some recent wagering developments and changes at different horseracing tracks in the United States. At Ellis Park Racing and Gaming (Henderson, Kentucky) in the Evansville, Indiana metro area, penny wagering has been tried since the 2022 season to influence gambling revenues. Meanwhile, starting in 2022 Monmouth Park in New Jersey now offers “fixed odds” wagering as an alternative to parimutuel wagering for patrons who do not like the possible fluctuations in odds before a race …

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Horse Sense Or Horse Hype? Estimating The True Economic Impact Of Churchill Downs And The Kentucky Derby On The Louisville Metro Area, Thomas E. Lambert Mar 2023

Horse Sense Or Horse Hype? Estimating The True Economic Impact Of Churchill Downs And The Kentucky Derby On The Louisville Metro Area, Thomas E. Lambert

Faculty Scholarship

In trying to assess the true economic impact of the Kentucky Derby on the Louisville region (north central Kentucky and south central Indiana counties), one can find two different estimates appear in doing a quick search on the internet. Some sources, such as the Kentucky Derby Museum, indicate that the economic impact of the Derby is around $217 million (Kentucky Derby Museum 2023) but never mention a source or study for this conjecture. In doing some research, this amount is determined to come from a 2001 study by the marketing research firm Wilkerson and Associates (LaMarra 2001), and therefore this …

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Two Essays On The Airbnb Market, Debanjana Dey Jan 2023

Two Essays On The Airbnb Market, Debanjana Dey

Electronic Theses and Dissertations, 2020-

This dissertation analyses the Airbnb market in Orange County, FL to provide insight on the performances of short-term vacation rentals listed on the platform. In the first essay we examine the factors affecting the demand and supply of this real estate sector before and after the Covid-19 pandemic, using occupancy, pricing and revenue models. The results identify the aspects of the Airbnb peer-to-peer sharing model that do and those that do not recover quickly after local covid restrictions are lifted. In particular, host experience, professional management, and proximity to major tourist attractions are some of the key factors that generate …

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Strengthening The Southern Nevada Workforce Pipeline, Katie M. Gilbertson Nov 2022

Strengthening The Southern Nevada Workforce Pipeline, Katie M. Gilbertson

Policy Briefs and Reports

This report analyzes the Southern Nevada employment ecosystem by utilizing occupational clusters recognized by the U.S. Department of Labor. The first section examines occupations in the tourism industry using three occupational clusters: hospitality and leisure; arts, audio/video technology and communications; and the transportation, distribution, and logistics. Next, this report utilizes the Las Vegas Global Economic Alliance’s 2022 Workforce Blueprint to identify the top 15 in-demand occupations for Southern Nevada and occupational clusters. A case study of the MGM College Opportunity Program (COP) is presented to demonstrate an existing workforce training program that promotes upward mobility of leisure and hospitality employees …

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A Comparison Of The Economic Impact Of Horse Racing Tracks In Kentucky Versus Neighboring Indiana, Thomas E. Lambert Nov 2022

A Comparison Of The Economic Impact Of Horse Racing Tracks In Kentucky Versus Neighboring Indiana, Thomas E. Lambert

Faculty Scholarship

The Louisville metro area is one that spans two states—Kentucky and Indiana. Since the University of Louisville has many students and employees who come from the Hoosier State, it would be interesting to see how the two states compare when it comes to what has been labeled a “signature” industry for the Commonwealth of Kentucky—horse racing.

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The Economic Impact Of Keeneland Race Course On The Lexington Metro Area With Projections For This Year’S Breeders Cup, Thomas E. Lambert Oct 2022

The Economic Impact Of Keeneland Race Course On The Lexington Metro Area With Projections For This Year’S Breeders Cup, Thomas E. Lambert

Faculty Scholarship

Keeneland Race Course in Lexington, Kentucky has had a long tradition for quality horse racing going back to its inception in 1936 (Keeneland 2022). With the 2022 Breeders’ Cup World Championships coming to the race track this November, this paper examines what economic impact the race track has on the Lexington metro area (Bourbon, Clark, Fayette, Jessamine, Scott, and Woodford counties in Kentucky) on an annual basis and how the 2022 Breeders’ Cup will boost the impact of the race track when compared to a typical year.

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The Economic Impact Of Buying And Redeveloping Ellis Park By Churchill Downs, Thomas E. Lambert Sep 2022

The Economic Impact Of Buying And Redeveloping Ellis Park By Churchill Downs, Thomas E. Lambert

Faculty Scholarship

Churchill Downs’ acquisition of Ellis Park Racing and Gaming in Henderson, Kentucky reflects the growing number of mergers across the US among racetracks, racetracks and casinos, and casinos with other casinos. Some years back, Ellis racetrack closed for one year due to declining profitability, yet after new ownership took over and a gaming center was added, it began a rebound in earnings (Courier and Press 2008). The $75 million that Churchill Downs plans to spend to transform Ellis Park (Schulz 2022) will have a much bigger impact than the construction, revamping, and expansion of park facilities. This is in addition …

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The Impact Of Tourism Specialization On Transition Economies, Robertico Croes, Jorge Ridderstaat Jun 2022

The Impact Of Tourism Specialization On Transition Economies, Robertico Croes, Jorge Ridderstaat

Rosen Research Review

What is the relationship between tourism specialization, economic growth, and human development in transition economies? That’s the question behind a new study led by Rosen Professor Robertico Croes and Assistant Professor Jorge Ridderstaat. Using Poland as a case study, the research looks at the role of tourism in economic and human development since communism fell in the 1990s and the country transitioned from a centrally-driven to a market-led economy.

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Strengthening The Southern Nevada Workforce Pipeline, Katie M. Gilbertson May 2022

Strengthening The Southern Nevada Workforce Pipeline, Katie M. Gilbertson

Student Research

Workforce development has been a keystone in the discussion of economic diversification of Las Vegas for decades. The leisure and hospitality industry is the lifeline for the Southern Nevada economy due to the reliance on tourism as the city’s main economic driver. The leisure and hospitality industry requires physical labor and more face-to-face customer interaction than other employment sectors. Thus, these jobs often do not require high educational attainment, but rather sharp soft skills like effective listening, nonverbal communication, and negotiation strategies. While these are valuable traits, the lack of educational attainment within the leisure and hospitality workforce suppresses employees’ …

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From Strategic Goal To Reality: The Development Of The Myrtle Beach Invitational Basketball Tournament, Mark Mitchell, Dennis Edwards, John Marcis Feb 2022

From Strategic Goal To Reality: The Development Of The Myrtle Beach Invitational Basketball Tournament, Mark Mitchell, Dennis Edwards, John Marcis

The Coastal Business Journal

The Myrtle Beach, South Carolina, area was selected to serve as one-time hosts for two tournaments in 2017: the ACC Women's Basketball Tournament and the Puerto Rico Tip-Off Men's College Basketball Tournament, when circumstances required those events to relocate on very short notice. Following the success of these two one-time events, the region sought to become a permanent host of an annual men's college basketball tournament to be played in November or December. This manuscript examines the development process of this tournament and illustrates how tournament organizers addressed the most common elements found in such events.

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A Risk-Based Approach To Cybersecurity: A Case Study Of Financial Messaging Networks Data Breaches, Xiang Michelle Liu Feb 2022

A Risk-Based Approach To Cybersecurity: A Case Study Of Financial Messaging Networks Data Breaches, Xiang Michelle Liu

The Coastal Business Journal

With banking becoming increasingly global and largely digital, a magnitude of data breach incidents resulted from cyberattacks have been observed and can be frequently traced to ineffective security practices and procedures. Cyberattacks do not require physical proximity, nor are they deterred by national borders. Cybercriminals can remain undetected for a long period of time. Such breaches inevitably result in losses of reputation, customer confidence, and in some instances, productivity. The purpose of this study is to take a deeper look into various breaches of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) messaging network to illuminate vulnerabilities inherent in the …

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Understanding Residents' Opinions And Support Toward Sustainable Tourism Development In The Caribbean: The Case Of Saint Kitts And Nevis, David Mc.A Baker, Ramaprasad Unni Feb 2022

Understanding Residents' Opinions And Support Toward Sustainable Tourism Development In The Caribbean: The Case Of Saint Kitts And Nevis, David Mc.A Baker, Ramaprasad Unni

The Coastal Business Journal

Saint Kitts and Nevis are two islands forming one nation in the Caribbean. This paper examines differences in the perceived economic, socio-cultural, and environmental impacts of tourism between residents of Saint Kitts and Nevis and the residents' attitudes about the pace and direction of tourism development. A self-administered household survey was used to assess perceptions of these impacts from tourism among residents. After excluding 53 non-residents, effective sample size was 269. ANOVA was used to analyze differences between the two islands. Residents of both islands shared similar perceptions about the pace and direction of tourism development in their islands. However, …

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Promoting Ecotourism To Millennials Through Social Media, Melissa Clark, Paul Clark, Michael Latta Feb 2022

Promoting Ecotourism To Millennials Through Social Media, Melissa Clark, Paul Clark, Michael Latta

The Coastal Business Journal

This paper explores how coastal ecotourism marketers can utilize social media to effectively market to millennials. Coastal Tourism is one of four types of ecotourism identified by Honey and Krantz (2007) in their study Global Trends in Coastal Tourism sponsored by the World Wildlife Fund. An online survey of university students from the millennial generation was utilized. Findings indicate that millennials are interested in ecotourism and gather information about it from friends and social media. They check their accounts several times a day and usually from their smartphones. They would choose an ecotourism destination if money were not an issue. …

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The Strategic Problem Of Information Security And Data Breaches, Michael Dinger, Julie Terrill Wade Feb 2022

The Strategic Problem Of Information Security And Data Breaches, Michael Dinger, Julie Terrill Wade

The Coastal Business Journal

This paper considers the strategic uncertainties and impacts created by high-profile data breaches and discusses the unique strategic problem presented by information security breaches for organizational executives. Based on theory regarding strategic uncertainties, we develop a framework depicting a strategic perspective on breaches within and outside the firm. Then, within the major categories outlined by the framework, this research evaluates instances of 17 public disclosures of high-profile data breaches over the past four years. Based on our discussion of these 17 cases, we identify six major issues complicating strategic decision-making regarding security breaches and discuss guidance for managers.

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The Role Of Forensic Accounting In U.S. Counterterrorism Efforts, Amie L. Haun, Madison Gaither, Joanie Sompayrac Feb 2022

The Role Of Forensic Accounting In U.S. Counterterrorism Efforts, Amie L. Haun, Madison Gaither, Joanie Sompayrac

The Coastal Business Journal

The September 11th attacks on the World Trade Center directed international attention to the financial component of terrorist operations. The demand for forensic accounts has continued to increase because of a growing intolerance for fraud and terrorist activity. Forensic accountants have and will continue to have a vital role in United States' counterterrorism efforts in the post-9/11 era by detecting acts of fraud and money laundering. Comprehensive review of relevant literature including books, peer-reviewed articles, government databases, court records and news media confirms that forensic accountants are equipped with special skills and analytical tools that make them valuable members of …

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Extraordinary Item Classification Eliminated From The Income Statement: Some Supportive Evidence, Mark G. Mccarthy, Dennis O'Reilly, Douglas K. Schneider Feb 2022

Extraordinary Item Classification Eliminated From The Income Statement: Some Supportive Evidence, Mark G. Mccarthy, Dennis O'Reilly, Douglas K. Schneider

The Coastal Business Journal

Accounting Standards Update 2015-01 formally eliminated the reporting of "extraordinary items" in the income statement for fiscal years beginning after December 15, 2015. Gains and losses previously reported as extraordinary items and presented separately below income from continuing operations, are now reported as other gains and losses and included in income from continuing operations. The use of the extraordinary item classification fell sharply after 2002 when gains and losses from the early extinguishment of debt were no longer required to be reported as extraordinary items. By 2003 less than 100 publicly traded firms reported extraordinary items and in 2011 the …

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The Impact Of The Carrollton Greenbelt On Residential Housing Prices: A Spatial Approach, Heather R. Bono, Lisa L. Gezon, William J. Smith, Macy D. Walker Feb 2022

The Impact Of The Carrollton Greenbelt On Residential Housing Prices: A Spatial Approach, Heather R. Bono, Lisa L. Gezon, William J. Smith, Macy D. Walker

The Coastal Business Journal

The Carrollton GreenBelt is a linear park encircling the City of Carrollton Georgia. The GreenBelt differs from other linear parks in that it is an entirely new construction and was not built upon existing rail lines, as was the Atlanta Beltline and the nearby Silver Comet Trail. Using GIS, data from the Carroll County Tax Assessor's office and spatial econometric techniques, we estimate local fair-market housing values within the hedonic framework to measure the relationship between home prices and access to the GreenBelt. We find the expected positive effects from the number of bedrooms, bathrooms and square footage, but access …

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Small Business Identity And Entrepreneurial Identity In A Destination Resort Town: Are Birds Of A Feather Flocking To The Beach?, Janice A. Black, Carol Megehee, Frances H. Fabian Feb 2022

Small Business Identity And Entrepreneurial Identity In A Destination Resort Town: Are Birds Of A Feather Flocking To The Beach?, Janice A. Black, Carol Megehee, Frances H. Fabian

The Coastal Business Journal

Identities can be considered an intangible resource when they support the competitive advantage of a firm. Some work has shown that the context of an organization matters but will that hold true at a beach location filled with large numbers of micro-businesses and small businesses where entrepreneurs and small business owners engage their world both as individuals and as organizations? We examine the literature on identity and utilize a zoomorphic metaphor to elicit unbiased understandings of the coherence or dissonance of entrepreneurial and organizational identities. We found some intriguing results showing unexpected similarities and an affinity for coherent identities.

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A Preliminary Examination Of Gender Differences In Graduate And Undergraduate Reading Engagement: Using Books To Supplement Students' Learning, Suzanne Clinton, Lee Tyner, Robert Epstein, Abbie Lambert Feb 2022

A Preliminary Examination Of Gender Differences In Graduate And Undergraduate Reading Engagement: Using Books To Supplement Students' Learning, Suzanne Clinton, Lee Tyner, Robert Epstein, Abbie Lambert

The Coastal Business Journal

As America's universities advance the use of technologies, including learning management systems, videos, PowerPoint, "clickers," virtual classrooms, and everything else "i" and "e," students may become over sensitized and yearn for a missing component: The focused study of reading a book. This study analyzes differences in graduate and undergraduate students, and male and female attitudes and perceptions of reading engagement involving non-textbook reading in academic courses, especially among business students. This research is based on the experiences of four professors who have incorporated (auto)biographies and practitioner books to support the growth and development of students' study of human resource management …

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An Active Learning Exercise To Help Students Discover How To Model A Third Decision, Julie Ann Stuart Williams, Randall Reid, Kristine Gallamore Feb 2022

An Active Learning Exercise To Help Students Discover How To Model A Third Decision, Julie Ann Stuart Williams, Randall Reid, Kristine Gallamore

The Coastal Business Journal

In this paper, we describe an active learning exercise for a fictitious business producing sea turtle bamboo beach towels. The students are asked to assume the role of a junior analyst at a company as they are led through a series of business memos, directed questions, nutshell summaries, and class discussions. In this role, students have the opportunity to discover how to review business communications to identify a new third decision, what additional data will be needed, and what changes will be required to reformulate the existing product mix model for sea turtle bamboo beach towels.

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Shared Leadership In A Department Of Defense Acquisition Project Management Team, Valentin Novikov Feb 2022

Shared Leadership In A Department Of Defense Acquisition Project Management Team, Valentin Novikov

The Coastal Business Journal

Integrated product teams (IPTs) manage the acquisition of modernized military equipment. Since acquisition processes are complex and multi-functional, product management team leaders are not experts in every phase of their projects. Therefore, team leaders rely on member expertise by serving as social architects to orchestrate collaborative work group cultures required to accomplish the teams' missions through shared leadership (Stagnaro & Piotrowski, 2013). Since a comprehensive search of literature revealed a lack of published field studies on shared leadership in product management teams, an in-depth qualitative study was conducted on a successful acquisition IPT that suggested the team portrayed the characteristics …

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Estimating Modified Duration And Convexity For Income Properties, Frank Handforth, Eugene M. Bland, Neil F. Riley Feb 2022

Estimating Modified Duration And Convexity For Income Properties, Frank Handforth, Eugene M. Bland, Neil F. Riley

The Coastal Business Journal

Some institutions hold income producing properties directly as part of an investment portfolio. These properties are subject to interest rate risk. The two widely used measures of interest rate risk are modified duration and convexity. These measures can be difficult to calculate directly for income properties when net operating income and cash flows are not constant or when they are functions of the underlying yield. A numerical technique using sensitivity analysis is developed to provide estimates of modified duration and convexity. These estimates can then be used, along with corresponding values for debt, to determine the modified duration and convexity …

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Teaching Aggregate Planning In Operations Management, Johnny C. Ho, Francisco J. López, David Ang Feb 2022

Teaching Aggregate Planning In Operations Management, Johnny C. Ho, Francisco J. López, David Ang

The Coastal Business Journal

This paper describes some unique characteristics of Aggregate Production Planning, which make the teaching of this topic in Operations Management courses somewhat different than other topics. A challenge when teaching Aggregate Planning is to make students understand the need to apply trial-and-error approaches to test, evaluate, and improve Aggregate Plans. In other words, do not just learn how to do the computations needed to develop an Aggregate Plan under certain conditions, but to actually analyze it and try to modify it with the objective of producing an improved plan. We recommend that in operations management courses, Aggregate Planning is taught …

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Finishing Or Winning? The Variables That Impacted The Nascar Championship In The Chase I Format (2004-2013), Tracy D. Rishel, Elizabeth W. Baker, C. Barry Pfitzner Feb 2022

Finishing Or Winning? The Variables That Impacted The Nascar Championship In The Chase I Format (2004-2013), Tracy D. Rishel, Elizabeth W. Baker, C. Barry Pfitzner

The Coastal Business Journal

Since 2004 NASCAR has evolved its championship format in an effort to put more emphasis on wins, thus encouraging drivers to take more risk to get the race win. Past research has shown that drivers taking a conservative approach, by completing laps rather than going for wins, results in championships. This research attempts to determine if previous models are robust in predicting factors that influence individual points accumulation towards winning the championship and if driver consistency, rather than winning, remains the dominant factor in predicting NASCAR's championship standings.

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A Comparison Of Core Competencies Of Women And Men Leaders In The Manufacturing Industry, Daniel R. Tomal, Kevin J. Jones Jr. Feb 2022

A Comparison Of Core Competencies Of Women And Men Leaders In The Manufacturing Industry, Daniel R. Tomal, Kevin J. Jones Jr.

The Coastal Business Journal

This study compared the rankings of fourteen leadership core competencies for women and men managers in middle management and women and men in first-line supervisory positions in five manufacturing companies in the Midwest. Surveys were completed by the respondents and follow-up interviews were conducted. Results indicated that there were no significant differences in the rankings of core competencies between women and men supervisors or women and men managers. However, all supervisors (women and men combined) ranked mentoring and coaching employees higher than all managers (p<.05), and all managers ranked managing finances and employing strategic leadership higher than the supervisors (p<.05). It appears that the role of the leader position may be a more determinant factor in selecting core competencies than the gender of the leader. Including these core competencies in leadership professional development is recommended.

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Assessment Of Essays In A Management Science Course, Julie Ann Stuart Williams, Claudia J. Stanny, Randall Reid, Christopher Hill, Maxwell Rankin, Katie Martin Rosa Feb 2022

Assessment Of Essays In A Management Science Course, Julie Ann Stuart Williams, Claudia J. Stanny, Randall Reid, Christopher Hill, Maxwell Rankin, Katie Martin Rosa

The Coastal Business Journal

The ability to communicate a problem statement and an appropriate quantitative business method are important professional skills. This paper presents an analysis of student skill in writing a final exam essay that describes how a specific organization can improve decision making using mathematical programming, the business modeling approach that was the focus of the course. Although performance on assessments of professional writing and the description of a mathematical programming model averaged less than 80% across all essays written, improved writing when students received formative feedback in 2013 suggests that teaching students to identify and articulate the development and use of …

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