ENVIRONMENTAL COSTS, INITIATIVES, AND PERFORMANCE OF HOTEL ENTERPRISES IN SERBIA
Keywords:
environmental initiatives, environmental costs, performance, hotel enterprises
Abstract
The aim of this paper is to review environmental cost tracking, environmental initiatives, and the environmental and financial performance of hotel enterprises. The research is based on a survey questionnaire covering various categories of environmental costs, the level of implementation of environmental initiatives, managerial incentives, and perceptions of environmental and financial performance. The empirical study was conducted on a sample of 50 employees in hotel enterprises in Serbia. The results indicate that systematic monitoring of environmental costs and the implementation of environmental initiatives have a positive impact on improving both environmental performance and the financial performance of hotel enterprises.
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References
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10.1108/TR-06-2016-0016
Han, H., Lee, J. S., Trang, H. L. T., & Kim, W. (2018). Water conservation and waste reduction management for increasing guest loyalty and green hotel practices. International Journal of Hospitality Management, 75, 58–66. https://doi.org/10.1016/j.ijhm.2018.03.012
Henri, J. F., Boiral, O., & Roy, M. J. (2014). The tracking of environmental costs: motivations and impacts. European Accounting Review, 23(4), 647–669. https://doi.org/10.1080/09638180.2013.837400
Henri, J. F., Boiral, O., & Roy, M. J. (2016). Strategic cost management and performance: The case of environmental costs. The British accounting review, 48(2), 269–282. https://doi.org/10.1016/
j.bar.2015.01.001
Huyen, N. N. T., Hong, H. D., & Thi, L. H. (2025). Green practices: Building green image and green trust for green revisit intentions in the hospitality industry. Journal of Open Innovation: Technology, Market, and Complexity, 11(1), 100481. https://doi.org/10.1016/j.joitmc.2025.100481
Kim, T. H., & Kim, B. (2018). Firm’s environmental expenditure, R&D intensity, and profitability. Sustainability, 10(6), 2071. https://doi.org/10.3390/su10062071
Kusa, R., Suder, M., & Duda, J. (2023). Impact of greening on performance in the hospitality industry: Moderating effect of flexibility and inter-organizational cooperation. Technological Forecasting and Social Change, 190, 122423. https://doi.org/10.1016/j.techfore.2023.122423
Lin, C. S., Shyu, C. S., & Li, C. P. (2023). The greener the hotel, the better operating efficiency it has? A sustainable tourism perspective. Sustainability, 15(14), 10927. https://doi.org/10.3390/su151410927
Mensah, I. (2006). Environmental management practices among hotels in the greater Accra region. Hospitality Management, 25, 414–431. https://doi.org/10.1016/j.ijhm.2005.02.003
Milašinović, M., Jovanović, D., & Todorović, M. (2026). Quality Costs Measurement and Management: The Case of Hotel Companies in the Republic of Serbia. Eastern European Economics, 64(1), 159–175. https://doi.org/10.1080/00128775.2024.2378782
Mitrović, A., Milašinović, M., & Knežević, S. (2024). Ekološko upravljačko računovodstvo – alat za upravljanje životnom sredinom hotelijerskih preduzeća. In Računovodstvena znanja kao činilac ekonomskog i društvenog napretka (pp. 287–297). Ekonomski fakultet Univerziteta u Kragujevcu. https://www.ekfak.kg.ac.rs/images/Nir/
RacunovodstvenaZnanja/EkFak-Zbornik_Racunovodstvena_znanja-2024.pdf
Molina-Azorín, J. F., Claver-Cortés, E., Pereira-Moliner, J., & Tarí, J. J. (2009). Environmental practices and firm performance: an empirical analysis in the Spanish hotel industry. Journal of Cleaner production, 17(5), 516–524. https://doi.org/10.1016/j.jclepro.2008.09.001
Olimovich, D. I., Sharifovich, Y. K., & Samatovich, R. S. (2026). The Global Hotel Industry: Structure, Performance, And Strategic Outlook. International Journal of Education Studies and Social Science Research, 1(2), 27–41.
Osei, F., Wilson-Wünsch, B. & Kankam-Kwarteng, C. (2026). Green Innovations, Stakeholder Pressures and Environmental Performance in the Hotel Industry. Tourism and Hospitality Management, 32(2), https://doi.org/10.20867/thm.32.2.1
Perramon, J., Oliveras-Villanueva, M., & Llach, J. (2022). Impact of service quality and environmental practices on hotel companies: An empirical approach. International Journal of Hospitality Management, 107, 103307. https://doi.org/10.1016/j.ijhm.2022.103307
Pham Phu, S. T., Hoang, M. G., & Fujiwara, T. (2018). Analyzing solid waste management practices for the hotel industry. Global Journal of Environmental Science Management, 4(1), 19–30.
Wan, Y. K. P., Chan, S. H. J., & Huang, H. L. W. (2017). Environmental awareness, initiatives and performance in the hotel industry of Macau. Tourism Review, 72(1), 87–103. http://dx.doi.org/
10.1108/TR-06-2016-0016
Published
2026-10-16
How to Cite
Milašinović, M., Mitrović, A., & Magdincheva Shopova, M. (2026). ENVIRONMENTAL COSTS, INITIATIVES, AND PERFORMANCE OF HOTEL ENTERPRISES IN SERBIA. Tourism International Scientific Conference Vrnjačka Banja - TISC, 9(1), 126-137. https://doi.org/10.52370/TISC26126MM
Section
Articles
