The Influence of Digital Transformation Capability on Financial Performance of Hotel Businesses in Thailand
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Abstract
This study aims to investigate the influence of digital transformation capability on the financial performance of hotel businesses in Thailand, with strategic learning as a mediating variable. The sample comprises 303 general managers of 4- and 5-star hotels in Thailand, selected using simple random sampling. Data were collected using a questionnaire and analyzed using partial least squares structural equation modeling (PLS-SEM). The results reveal that digital transformation capability has a significant direct positive influence on both financial performance and strategic learning. Strategic learning directly influences financial performance and significantly mediates the relationship between digital transformation capability and financial performance. This implies that investments in digital technologies and the development of digital transformation capabilities will have a more significant positive impact on financial performance when accompanied by strategic learning, enabling the most effective utilization of digital technologies. The findings underscore the significance of developing digital transformation capabilities and strategic knowledge, enabling hotel businesses to enhance their financial performance and gain a sustainable competitive advantage amidst rapid technological changes. Therefore, managers should prioritize digital transformation capabilities to adapt and fully leverage digital technologies, leading to the sustainable growth of Thai hotel businesses in the digital age.
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