Travel + Leisure Digital Magazine
We demonstrate that the stringency of government restrictions has a negative impact on stock returns even after controlling for the pandemic itself. Moreover, stock prices of travel and leisure firms with a smaller size, less tangibility, and higher cash reserves are more resilient to the COVID-19 related government restrictions. Restrictions have the highest impact on airlines, followed by travel and tourism and casinos and gambling sectors. Our empirical findings provide valuable policy implications for travel and leisure firm managers, financial investors, and policymakers. Rosewood Hotels & Resorts manages a global collection of 29 one-of-a-kind luxury hotels, resorts, and residences in 17 countries.
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. The Group has signed a shareholder agreement with the Barceló Hotel Group to develop three hotel complexes in …