Entrepreneurial orientation and hotel gastronomic innovation: the impact on financial performance and customer perceived value

Abstract

Purpose. This study examines how entrepreneurial orientation influences gastronomic innovation and, in turn, how both factors affect hotel financial performance and perceived customer value. It also explores the mediating role of gastronomic innovation in the relationship between entrepreneurial orientation and these performance outcomes.Design/methodology/approachTo conduct the analysis, a sample of 131 three- to five-star accommodation establishments was collected from the province of Santa Cruz de Tenerife (Canary Islands, Spain), a region recognized for its significant role in the tourism industry. The proposed hypotheses were tested using a structural equation model (PLS-SEM).FindingsThe results revealed a positive relationship between entrepreneurial orientation and gastronomic innovation. Both entrepreneurial orientation and gastronomic innovation were positively associated with financial performance and perceived customer value. Moreover, gastronomic innovation was found to fully mediate the relationship between entrepreneurial orientation and financial performance, while it served as a partial mediator in the relationship with customer value.Practical implicationsEntrepreneurial orientation and gastronomic innovation are closely interconnected and play a critical role in shaping both market dynamics and societal outcomes. The findings suggest that hotels should promote gastronomic innovation to improve financial performance and customer value.Originality/valueThis research is the first to empirically show that gastronomic innovation mediates the link between entrepreneurial orientation and both financial performance and customer value in hotels. It also provides new insights into the direct impact of gastronomic innovation on these outcomes.