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<!DOCTYPE article PUBLIC "-//NLM//DTD JATS (Z39.96) Journal Archiving and Interchange DTD v1.4 20241031//EN" "https://jats.nlm.nih.gov/archiving/1.4/JATS-archive-oasis-article1-4-mathml3.dtd">
<article xmlns:ali="http://www.niso.org/schemas/ali/1.0/" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" article-type="research-article" xml:lang="en"><front><journal-meta><issn publication-format="print">2072-6414</issn><issn publication-format="electronic">2411-1406</issn></journal-meta><article-meta><article-id pub-id-type="doi">10.17059/ekon.reg.2023-4-22</article-id><title-group xml:lang="en"><article-title>Business Excellence of Eco-Friendly Hotels in the Region of the Western Balkans: Case Study of Eco-Friendly Hotels in Serbia</article-title></title-group><title-group xml:lang="ru"><article-title>Совершенствование бизнес-процессов в экологически безопасных отелях в западной части Балканского полуострова (на примере Сербии)</article-title></title-group><contrib-group><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-5415-6746</contrib-id><name-alternatives><name xml:lang="en"><surname>Radović</surname><given-names>Nikica</given-names></name><name xml:lang="ru"><surname>Радович </surname><given-names>Никица </given-names></name></name-alternatives><email>nradovic@singidunum.ac.rs</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0009-0001-1471-953X</contrib-id><name-alternatives><name xml:lang="en"><surname>Stanišić</surname><given-names>Milovan</given-names></name><name xml:lang="ru"><surname>Станишич </surname><given-names>Милован </given-names></name></name-alternatives><email>mstanisic@singidunum.ac.rs</email><xref ref-type="aff" rid="aff1"/></contrib><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0002-7013-9513</contrib-id><name-alternatives><name xml:lang="en"><surname>Nikolić</surname><given-names>Jelena</given-names></name><name xml:lang="ru"><surname>Николич </surname><given-names>Елена </given-names></name></name-alternatives><email>jnikolic@singidunum.ac.rs</email><xref ref-type="aff" rid="aff1"/></contrib></contrib-group><aff-alternatives id="aff1"><aff><institution xml:lang="en">Singidunum University</institution></aff><aff><institution xml:lang="ru">Университет Сингидунум</institution></aff></aff-alternatives><pub-date date-type="pub" iso-8601-date="2023-12-19" publication-format="electronic"/><volume>19</volume><issue>4</issue><fpage>1251</fpage><lpage>1262</lpage><history><date date-type="received" iso-8601-date="2022-06-27"/><date date-type="accepted" iso-8601-date="2023-09-19"/></history><permissions><copyright-statement xml:lang="en">Copyright © 2023 Nikica Radović, Milovan Stanišić, Jelena Nikolić</copyright-statement><copyright-statement xml:lang="ru">Copyright © 2023 Никица Радович, Милован Станишич, Елена Николич</copyright-statement><copyright-year>2023</copyright-year><copyright-holder xml:lang="en">Nikica Radović, Milovan Stanišić, Jelena Nikolić</copyright-holder><copyright-holder xml:lang="ru">Никица Радович, Милован Станишич, Елена Николич</copyright-holder><ali:free_to_read/><license license-type="open-access" xlink:href="https://creativecommons.org/licenses/by/4.0/"><license-p>CC BY 4.0</license-p></license></permissions><self-uri content-type="html" mimetype="text/html" xlink:title="article webpage" xlink:href="https://www.economyofregions.org/ojs/index.php/er/article/view/213">https://www.economyofregions.org/ojs/index.php/er/article/view/213</self-uri><self-uri content-type="pdf" mimetype="application/pdf" xlink:title="article pdf" xlink:href="https://www.economyofregions.org/ojs/index.php/er/article/download/213/265">https://www.economyofregions.org/ojs/index.php/er/article/download/213/265</self-uri><abstract xml:lang="en"><p>Hotel industry, as a very dynamic activity within the tourism industry, applies innovations in business and develops voluntary eco-business standards for developing sustainable tourism. The paper aims to assess business excellence of hotels that are holders of the international eco-certificate Green Key in Serbia, a country in the Western Balkan region, by using the BEX model. The study reviews and presents the current situation when it comes to implementation and valorisation of eco-principles and standards in hotel business in Serbia, while examining their business excellence, as well as the opportunities for better positioning in the international tourism market. The research results show that the examined companies do not have poor ranks of business excellence. It is recommended for these hotels to continue with the current business while implementing innovations in sustainable business in order to improve business results. By monitoring the value of the BEX index, it is possible to avoid business risks, while expanding eco-awareness and implementing sustainable business policies, which would help hotel companies improve their business.</p></abstract><abstract xml:lang="ru"><p>Гостиничный бизнес — динамичный вид деятельности в сфере туризма. В целях развития устойчивого туризма необходимо внедрять инновации и разрабатывать новые стандарты экобизнеса. Цель работы — оценить эффективность деятельности отелей, являющихся обладателями международного экосертификата «Зеленый ключ», в Сербии, одной из стран Западно-Балканского региона. Для этого была использована модель делового совершенства (BEX) и проанализирован соответствующий индекс. В статье рассмотрено внедрение экологических принципов и стандартов в гостиничном бизнесе Сербии, а также изучены бизнес-процессы экоотелей и возможности их позиционирования на международном туристическом рынке. Согласно результатам проведенного анализа, представленные отели в целом имеют удовлетворительные показатели индекса делового совершенства. Для дальнейшего улучшения результатов компаниям рекомендуется продолжить выполнение предусмотренных мероприятий, а также внедрить устойчивые инновации. Мониторинг индекса BEX может положительно повлиять на деятельность гостиничного бизнеса, позволив компаниям избежать рисков, повысить уровень экологической осведомленности и реализовать политику устойчивого развития.</p></abstract><kwd-group xml:lang="en"><kwd>BEX model, environmentally responsible business, eco hotel, Green Key, hospitality, Western Balkan region</kwd></kwd-group><kwd-group xml:lang="ru"><kwd>модель BEX, экологически ответственный бизнес, экоотель, программа «Зеленый ключ», гостеприимство, Западные Балканы</kwd></kwd-group></article-meta></front><body/><back><ref-list><ref id="en-ref1"><label>1</label><mixed-citation xml:lang="en">Alihodžić, A., &amp; Džafić, J. (2012). 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