Evaluation of the Potential Consequences of the COVID-19 Pandemic on the Exacerbation of Corporate Crises within the Hotel Industry in the Touristic Region Banska Bystrica in Slovakia
Evaluation of the Potential Consequences of the COVID-19 Pandemic on the Exacerbation of Corporate Crises within the Hotel Industry in the Touristic Region Banska Bystrica in Slovakia

Author(s): Renata Stanley, Renata Pakšiova
Subject(s): Economy, Tourism
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Companies in crises; Financial analysis; COVID-19; Financial indicators
Summary/Abstract: This chapter aims to examine the companies in crisis operating in the hotel industry in the Banska Bystrica Region in Slovakia, which have encountered financial difficulties and the possible consequences of the pandemic COVID-19 on their financial situation. For the research of companies in crisis, there were data obtained from a publicly available online state resource for the monitored period of 2018-2020. The hotel, hospitality and tourism industries are generally considered to be the most significant¬ly affected by COVID-19. Many companies had their operations temporarily closed and some were unable to reopen. Several companies in this sector have thus fallen into crisis. Companies in crisis refer to those that are in bankruptcy or at risk of bankruptcy. To identify companies in crisis, the authors conducted a financial analysis of the financial statements of selected companies, which are presented in this chapter.

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