Periódico: Tourism and Hospitality International Journal
Fonte: Tourism and Hospitality International Journal ; Vol. 17 No. 1 (2021): September 2021 [28th Edition]; 75-92
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Resumo: Since ancient times, Man has known the powers of thermal waters in a relationship that has not been monotonous. In its evolution, the world began to include the two aspects of thermalism (classic and wellness) in the sphere of health and wellness tourism, which is considered, since 2006, as a strategic product for Portugal by Turismo de Portugal, IP. The aim of this study was to analyse the financial stability of four Portuguese thermal establishments, selected from a set of common characteristics which made them comparable. Using the most popular technique of financial analysis, the ratio method, the financial stability of the four Portuguese thermal establishments studied was tested and the research question of the study was: do these thermal establishments meet their short-term obligations and their financial commitments? The data of each company was obtained from the SABI database and the sector data, economic activity code 86905 – thermal activities, were obtained from Banco de Portugal’s website. Data was processed and analysed using the Microsoft Excel software. The study concluded that the four companies studied have different financial characteristics and in general, the Termas de São Pedro do Sul are closest to the sector average of the analysed ratios. Nevertheless, the majority of the companies have short-term financial stability, highly conditioned by the accounts receivable, and a strong dependency on debt in their financial structures
