Strategie e performance delle imprese alberghiere di Milano

Firm’s performance is affected by both external (features and dynamics of industries and markets) and internal variables. This statement has been tested by several empirical works centered on hospitality, with a specific fo-cus on the internal factors, which can be controlled by firms’ management. In particular, the determinants of firms’ performance have been traced back to firms’ strategy and to some primary activities (production, market-ing, organization) which set up the product (the so-called “what”). In line with these contributions, this article suggests to add a “where” dimension which encompasses the choices related to firm’s location. To test this hy-pothesis we carried out a research on a sample of 95 firms located in Milan to identify the determinants of the revenues per available room (RevPAR). Our results indicate three RevPAR antecedents: the location of the firm, the category of the accommodation and the market orientation. The object of this paper offers interesting implications for both, accommodation firms already competing on the marketing, which can try to compensate disadvantages related to their location, and start ups which have to take decisions concerning their location in the destination.