Abstract: The tourism sector in Vojvodina includes 220 hotels registered in AP Vojvodina in 45 municipalities
and their performances have a significant role for development of tourism in this Province.
The most hotels are concentrated in Novi Sad and Subotica, where hotels in these cities consist 40%
of total hotels in AP Vojvodina. The aim of this chapter is to analyze the profitability of hotels in AP
Vojvodina in terms of modelling impact of internal factors. The chapter includes multivariate analysis
of variance, as well as regression models which enable identifying profitability level of hotels and how
liquidity, debt, financial stability, size and sale growth affect the profitability.
Keywords: profitability, internal factors, hotels, AP Vojvodina.
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