tourism management
Faeze sadat Mirfakhraddini; Milad Ebrahimi; Farzaneh Jandaghi ardakani
Abstract
In the economy, financial resources are critical. The fact that financial resources are limited and affect the number of operations is undeniable. All parts are related to financial operations. Therefore, correctly allocating financial assets is critical in modern business, especially tourism. Considering ...
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In the economy, financial resources are critical. The fact that financial resources are limited and affect the number of operations is undeniable. All parts are related to financial operations. Therefore, correctly allocating financial assets is critical in modern business, especially tourism. Considering the location of the accommodation sector in the tourism industry, it is essential to pay attention to the financial performance of the hotels. In the present study, after examining the background of research and surveying industry and university experts, financial indicators related to hotels in Yazd Province have been identified, the data has been analyzed using the importance-performance matrix, and suggestions have been made to improve their situation. The results show that none of the criteria identified are in the critical area. Criteria such as the risk of financial bankruptcy, macro-economic growth, employment rates, direct income from the hotels primary income, the improvement of the hotel's human resources in making profits, and cash reserves such as cash it should be taken into account and hotel managers should focus on maintaining the status of these criteria.IntroductionIran’s economy is a single-product economy that relies on oil revenues. Therefore, the tourism industry is one of the sectors that can contribute to eliminating a single-product economy based on mineral resources (Khoshnevis Yazdi et al., 2017). The hotel sector is also essential to the tourism industry, significantly contributing to countries’ economic growth (Babajee et al., 2020). However, little attention has been paid to the performance criteria for improving the hotel’s performance (Bangchokdee & Mia, 2016). Therefore, managers in this industry should use the necessary management tools to ensure better results and prevent poor performance (Arasli, 2012). Generally, the company’s performance consists of operational, financial, and organizational performance (Zhang et al., 2021). Therefore, considering the importance of the hotel sector in the tourism industry and the growing trend of the tourism industry in Iran, paying attention to the performance of hotels, especially financial performance and financial indicators affecting hotels, can improve hotel efficiency. It also helps hotel managers increase the financial performance of their hotel management by identifying and analyzing the performance of indicators that affect the financial performance of hotels and making them financially efficient in the hotel sector. Therefore, it is essential to identify and analyze the indicators that affect the financial performance of hotels.Materials and MethodsThe primary purpose of the research is to identify the indicators that affect the financial performance of hotels and classification and determine their relative importance in the hotel industry of Yazd Province. The scope of this research is Yazd Province hotels. This article consists of two sections: In the first stage, by studying the background of the research and survey of experts, indicators expected to affect the financial performance of the hotels were identified. In the second stage of the research, a questionnaire was made available to the respondents to measure the importance of each factor and their performance in hotels. Then, the relative importance of the indicators was determined using the performance-importance analysis method.Discussion and ResultsThe results of this research showed that first, by studying the background of research and survey of experts, financial criteria in the hotel industry are in six general categories, which include risk index, efficiency-activity, economic, debt, profitability, and liquidity, which hotel owners should always consider. Also, to identify effective criteria for improving hotel performance, criteria can be divided into four groups:Group 1: Criteria in the critical area have no criteria in this area.Group 2: Factors in the low-priority area include liquidity from the source of investment and the risk of non-receipt of claims.Group 3: Criteria in the reduced area include the risk of exchange rate fluctuations, the risk of instability in the price of hotel equipment, quick response to competitive changes and market changes, the effect of assets on hotel revenues, gross domestic product, capital financing from debt, hotel debt financing, tax, low-interest facilities, profits from indirect income from the local, except for the primary operations of the hotel, capital growth, liquidity from current accounts and lateral investment.Group 4: Criteria for continuity of high status, including the risk of financial bankruptcy, macroeconomic growth, employment rates, direct income from hotel income (room rental), improvement of hotel human resources in making profits, and cash reserves.ConclusionsThe research findings aim to boost hotels, policymakers, and decision-makers to promote the growth of the hotel industry by facilitating the arrival of foreign tourists, encouraging domestic people to travel, and eliminating economic barriers. Hiring a highly efficient, skilled workforce and solving the liquidity shortage in managed hotels is also a solution. In addition, hotel managers should be able to improve and expand their business by creating investment opportunities for hotels. Also, the risk of exchange rate fluctuations and instability in the price of hotel equipment are of low importance. In addition, the rapid response to competitive changes and market changes in hotels in Yazd province is of low importance, which can be attributed to the need for more competitiveness of the hotel industry in Yazd Province
tourism management
Faeze sadat Mir Fakhraddini
Abstract
AbstractThe coronavirus pandemis caused many operational challenges for hotel management. In this situation, it became clear that many hotels and accommodation centers do not use performance management systems. On the contrary, they have performance evaluation systems that usually include annual evaluation ...
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AbstractThe coronavirus pandemis caused many operational challenges for hotel management. In this situation, it became clear that many hotels and accommodation centers do not use performance management systems. On the contrary, they have performance evaluation systems that usually include annual evaluation and review, and there is little alignment between the hotel's performance and its strategic goals. It only focuses on the past performance of the hotel. Therefore, the necessity of identifying suitable criteria for performance management rather than its evaluation is felt in hotels. For this purpose, in this article, criteria for designing the performance management model in hotels with the meta-synthesis method were collected and leveled using the structural-interpretive modeling approach according to the opinion of experts. In this article, 14 criteria have been identified that will help to improve the management of hotel performance in the critical conditions of the corona outbreak and are in line with the essential administrative, strategic, and communication goals, development, and maintenance of hotels. Therefore, they can help address performance management challenges. In the classification of identified criteria, "government policies and leadership skills" were the most effective criteria, and "customer loyalty and reduction of hotel costs" were among the most effective criteria. IntroductionIn recent years, globalization has made the spread of viruses more effective and has created significant challenges for manufacturing and service industries. In 2019, the high infection rate of the coronavirus (COVID-19) and the death rate created a new fear in society as people worried about the negative consequences of this pandemic. Life in the 21st century has become challenging due to the dramatic changes caused by the recent pandemic. The severity of the effects of Covid-19 has caused all industries to face unprecedented economic crises. The hotel and tourism industry has faced many problems due to a sharp reduction in the workforce and tourists, and financial issues arising from it. (Gosling et al., 2020). The problem that exists in this regard is the problems of the hotel industry in the field of performance management and that the expected improvements in performance, responsiveness, transparency, and service quality have not yet occurred as desired; On the other hand, the spread of the coronavirus has fueled the problems in this area. Due to the lack of research, the need for more research in this field is felt.Therefore, the design and expression of a new and innovative model of performance management in such organizations are necessary and undeniable, and the lack of a model for managing the performance of hotels, especially in Yazd, whose historical context has also reached the world record. It is the basis for the formation of this research.Materials and MethodsThe main goal of this research is to design a performance management framework for hotels in the context of the outbreak of the coronavirus, which can be used to obtain real results from the relationships between performance management criteria. Considering this goal and the research questions mentioned in the problem statement, the current research is exploratory-survey and practical in terms of its purpose. The field of research is organizational performance management in hotels in Yazd province. This research data has been collected in two ways: documentary and survey.This article consists of two parts: first, stating the problem, necessity, and background of the research and identifying performance management criteria in the hotel industry, various sources including books, articles, and other resources available in the field of the research problem have been studied and analyzed by meta-synthesis. Various methods have been presented to perform meta-synthesis, and the seven-stage model of Sandelowski and Barroso has been used in this article.In the second part, the structural-interpretive modeling method is used to design the model of relationships between criteria.Discussion and ResultsThe first part: determining and finalizing the criteria: to extract the criteria systematically, the meta-synthesis method was used.All the criteria in the table above were categorized and provided to research experts. During various meetings, experts reviewed, evaluated, and sometimes combined the criteria. Finally, 14 criteria were agreed upon and entered the next research stage as the final criteria. The final criteria are:Financial ability and hotel facilities (hotel resources); 2. Health and medical preparation in the hotel; 3. Government policies; 4. Leadership and management skills; 5. Hotel marketing actions and strategies; 6. Crisis management; 7. Innovation in providing hotel services and activities; 8. Flexibility in providing new services in the hotel; 9. Identify key performance areas; 10. Transparency in the current affairs of the hotel (creating trust and confidence); 11. Reducing hotel costs; 12. Improving the quality of services provided to hotel guests; 13. Customer loyalty to the hotel; 14. Increase in hotel staff empowerment.The second part: designing a structural-interpretive model of hotel performance management during the corona outbreak; to draw the structural-interpretive model based on the levels of the variables and the final access matrix, a preliminary model was drawn, and the final model was obtained by removing transferability."Decreasing hotel costs" is the highest-level of goal. The goals at a higher level have less influence and are more influenced by the criteria of lower levels. At the lowest level of the model, there are "government policies" and "leadership and management skills." These two criteria act as basic criteria, and the hotel performance management process during corona's outbreak should be one of these criteria. Start and spread to other criteria. ConclusionsThe results of this research determined that performance management criteria in the hotel industry with the ISM approach are placed at six levels. Whereas the criteria of "government policies and leadership and management skills" were at the lowest level. This means that the factors mentioned above are the basis of hotel performance management during the corona outbreak, and attention to these factors is prioritized for hotel management in critical and special conditions. Therefore, it is recommended to improve hotel management skills and make decisions and plans based on government policies.Also, based on the findings of the Mic-Mac framework, it was determined that the criteria of hotel resources, health and medical preparation in the hotel, marketing measures and strategies, and innovation in the provision of hotel services and activities; have a significant influence on other factors. So hotel managers should pay more attention to them because changes in these criteria affect other performance criteria.
