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HOTEL SPECIFIC DETERMINANTS OF LIQUIDITY-EVIDENCE FROM THE HOTELS IN AP VOJVODINA Nada Milenković Jelena Andrašić Slobodan Andrašić University of Novi Sad, Faculty of Economics in Subotica, Segedinski put 9-11, Subotica, Serbia DOI: https://doi.org/10.31410/tmt.2019.123 4th International Thematic Monograph - Modern Management Tools and Economy of Tourism Sector in Present Era, Belgrade, 2019, Published by: Association of Economists and Managers of the Balkans in cooperation with the Faculty of Tourism and Hospitality, Ohrid, North Macedonia; ISSN 2683-5673, ISBN 978-86-80194-29-5; Editors: Vuk Bevanda, associate professor, Faculty of Social Sciences, Belgrade, Serbia; Snežana Štetić, full time professor, The College of Tourism, Belgrade, Serbia, Printed by: SKRIPTA International, Belgrade
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Abstract: The aim of this chapter is to analyze the tourism sector in Vojvodina in terms of business liquidity of the hotels registered on the territory of the Province. The AP Vojvodina consists of 45 municipalities in which there are 220 hotels registered. The liquidity of the hotel industry depends on external and internal factors. In this research internal factors were considered in order to determine the reasons of the liquidity of the hotels in AP Vojvodina in the period of 2014-2018. The empirical studies include multivariate analysis of variances, as well as multiple regression models which enable identifying liquidity levels of hotels and how these internal factors affect the liquidity. The liquidity is measured by current liquidity ratio in the first model and quick liquidity ratio in the second model. The results of the empirical studies have shown that the impact of the indebtedness and sales growth is more intense on current liquidity than the quick liquidity ratio. 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