AbstractsMedical & Health Science
A Study of Hotel Management Financial Competencies with the Focus on Revenue and Cost Management
| Institution: | Kent State University |
|---|---|
| Department: | College and Graduate School of Education, Health and Human Services / School of Foundations, Leadership and Administration |
| Degree: | MS |
| Year: | 2014 |
| Keywords: | Management; financial competencies; revenue management; cost management; pricing; forecasting; budgeting; asset management |
| Record ID: | 2033803 |
| Full text PDF: | http://rave.ohiolink.edu/etdc/view?acc_num=kent1416340922 |
Abstract
The objective of this research is to investigate the core financial analyticalcompetencies that hospitality managers must possess. Similar measurement was employed in both the industry practitioners’ and the educators’ survey, as the aim was to explore the importance and use of revenue and cost management competencies among manager participants and compare the findings with those obtained from the educators’ survey. The results of this study showed that cost control, followed by revenue management, budgeting, forecasting, pricing, and asset management, are the essential financial competencies of hotel managers. The perception gap was found between hospitality managers and educators on the importance of these financial competencies. The findings of this study could provide suggestions for hospitality education and industry training programs.
