engleski

Quantitative techniquea in Decision Making in the Hotel Industry

The management of hotel company must utilize quantitative techniques in decision-making, in order to satisfy consumer demand and to successfully manage key areas of hotel business. This paper demonstrates the advantages of using these techniques in the hotel industry by using the example of the technique ťbreak-even pointŤ. The purpose of using this relatively simple procedure, which every manager must know, is to discover which statistical data must be monitored in the hotel in order to enable the manager to estimate the level of profit or loss at the various levels of occupancy and the various cost estimates, to forecast the consequences of changes in sale prices and to know when to close down the hotel.

hotel management; quantitative techniques; break-even point

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