Sandra Janković

Framework for performance measurement in hospitality industry - case study Slovenia.

Abstract Hotel organizations in transition economies must create effective competitive methods for survival, since they exist in an environment where both customer and investor are demanding more from every organization. In search of solutions they should use performance measurement system that meets the requirements of a changed environment. The aim of this paper is to present how developed is performance measurement in hotel organizations in Slovenia. The article is based on the research carried out in Slovenia in hotels with over 100 rooms. First the necessary information for various decision-making levels will be introduced together with the criteria for efficiency measurement and then the basic hypothesis will be tested by relevant statistical methods.

Efficiency in the hotel industry: an empirical examination of the most influential factors

Abstract The purpose of this article is to provide insights into hotel efficiency and investigate which hotels are performing better. Hotel efficiency is examined using data envelopment analysis (DEA) and the output-oriented BCC model is applied on the hotels’ internal accounting information. The study further explores whether there are differences in efficiency between hotels of different size and quality. The results show that average efficiency is high, but not all hotels are performing at their maximum efficiency. A significant relationship between size and hotel efficiency has been found. This study provides a potential framework for efficiency measurement and contributes to the growing body of knowledge in the area of hotel efficiency in the context of a country that is predominantly concentrated on seasonal seaside tourism. The results of this research offer useful insights for hotel managers, suggest ways of enhancing hotel productivity and provide guidance on which aspects to focus their attention in the decision-making process.

Chapter 11 Challenges of Environmental Accounting in Tourism Destination as a Trend of Sustainable Development

A tourist destination represents a dynamically regulated system that evolves in space and time. Therefore, it is necessary to anticipate various system reactions to internal and external influences, so that actions can be directed towards the specific goals of supply and demand for products of tourist destinations. A successful process in the life cycle of tourist destination product planning is based on the anticipation and awareness of all participants of supply and demand, as the sustainability values must be perceived within the framework of an integrated destination product. It is necessary to examine assumptions and features of the market valuation of destination business processes from an economic, social and environmental standpoint in line with the principles of sustainable development. This implies the creation of a methodological basis for the recognition, measurement and tracking of complex processes and synergic effects, important for the development of relevant management information-based structures and functions. Measuring the eco-efficiency of a tourist destination represents the basis for building a system of reporting on changes and impacts individual business subjects deployed in the environment. An integrative information system of tourist destinations should provide information on the eco-efficiency of individual business processes, activities, products or a Strategic Business Units (SBUs) entire life cycle. Obtained information allows for the preparation of an information basis for reporting on environmental aspects within the system of tourist destinations sustainable development reporting.

Developing a benchmarking methodology for marina business

Measuring and monitoring the accomplished carrying capacity and business results of marinas provide managers with the information that give them better understanding of their business decision effects. Todays managers are regularly confronted with new business problems and opportunities in marinas. Running a marina requires the ability to look outside the business for solutions, ideas, and best practices. Benchmarking is the search for the industry’s best practice that will lead to superior performance. It is a systematic process for identifying and implementing best or better practices, which are used by highly successful organizations. It enables marina managers to choose the competitive enterprises to examine their operations, offering them the possibility of reacting in real time in order to improve their revenue and business results. This paper aims to define the benchmarking methodology for marina business. For this purpose, the scientific literature and the possibilities of implementing benchmarking into marina business have been investigated. The research results show that there is no evidence in theoretical papers, that benchmarking and revenue management have been developed and applied in marina business. Marina managers should understand that sharing information is a valuable business tool for them and not the enemy and therefore, the model of implementing benchmarking as an instrument of revenue management for marina business is presented. The paper contributes to the development of theoretical framework of benchmarking methodology in marina business.

The Importance of Intangible Assets in the Hotel Industry: The Case of Croatia and Slovenia

Abstract Studies show an increasing importance of intangible assets (hereinafter IA) and a positive relationship between IA and company performance. The purpose of this paper is to analyse the importance of IA for Croatian and Slovene hotel companies and to find out whether companies with a higher share of intangibles are also more profitable. The analysis is based on publicly available financial statements for the five-year period, from 2011 to 2015. The results show that the average share of IA presented in the balance sheets of the analysed hotel companies is low in both countries. Moreover, we could not find a statistically significant relationship between the share of IA and the selected financial performance indicators. The results of our study show that despite the emphasised importance of IA in literature, the publicly available financial data of the selected hotel companies provides very limited information on IA for external stakeholders.

Managerial Attitudes on Environmental Reporting: Evidence from Croatia

Environmental responsibility is an important element of business sustainability. It is operationalised through environmental accounting and reporting, which have become inevitable management tools in modern business. International reporting frameworks, legislation, and the requirements of stakeholders, necessitate thinking about environmental information which businesses should report. Decisions on reporting environmental information is associated with managerial attitudes and expectations. The lack of research, especially in European countries, on the importance of environmental reporting for a company’s management, is the reason for conducting this study. Therefore, the main objective of the research was to investigate managerial attitudes regarding the importance of environmental information for companies stakeholders. A survey was used to collect data. The analysis of the distribution of managers’ responses shows that most respondents believe environmental information is part of corporate social responsibility. From the standpoint of the companies it is ethical to collect and report environmental information. Through the factor analysis of managerial attitudes, research indicates variables of the highest importance in the extracted factor: the usefulness of environmental information for different stakeholders, the importance of exploring stakeholders’ interests, and the importance of ensuring the quantity and quality of environmental information. The extracted factor, labelled as “the importance of environmental reporting” was further defined as a dependent variable in a simple linear regression model in which industry and size of the company were defined as independent variables. Research identifies only the industry of the company as positively and significantly related to dependent variable.