engleski

Performance Measurement in the Croatian Hospitality Industry – a comparative study

Nowadays hotel managers need information to make smart business decisions and achieve planned results. Many authors emphasise that the hotel industry still does not have a properly developed performance measurement system (PMS) that could provide useful information for short and long time decision- making. Rather, it is oriented towards the traditional financial measures and slowly adapts to modern trends (Phillips, 1999 ; Banker et al., 2000 ; Mia & Patiar, 2001 ; Brander Brown & Aktinson 2001 ; Pavlatos & Paggios, 2009, Dittman et al., 2009). Performance measurement is the process of quantifying the efficiency and effectiveness of past actions (Neely, 2002). A developed performance measurement system is required today for meeting the need of extended triple bottom line (Mihalič et al., 2011) This paper reviews the literature of performance measurement in hospitality industry and discusses the implemented models and their weaknesses. The aim of the paper is to examine the use of performance measures in Croatian hospitality industry in order to compare it with the results of several previous surveys. The research results show an increasing implementation of the Uniform System of Accounts for Lodging Industry (USALI) methodology and a growing trend of segment report preparation and their usage by middle and low management. In order to satisfy the requirements of the triple bottom line, it is required to implement an upgraded performance measurement system for Croatian hotel industry with new dimensions and key performance indicators, using the USALI as a starting point.

performance measurement ; USALI ; Balanced Scorecard (BSC) ; SBSC

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