Return on strategic effectiveness – the need for synchronising growth and development strategies in the hotel industry using revenue management
Journal Title: Economic Research-Ekonomska Istraživanja - Year 2017, Vol 30, Issue 1
Abstract
The purpose of this paper is to identify the essential determinants, and highlight the importance, of synchronising the growth and development strategies of hotel companies. The paper aims to analyse preconditions to successful and stable business performance and customer loyalty. The paper is based on the hypothesis that strategic and organisational effectiveness helps to create preconditions to stable business in the future, which is reflected in satisfactory growth, financial strength and solvency, and results in creating added value. The five-year financial data of three hotel companies with similar business orientation from Istria County (Croatia) were used to test the model for synchronising growth and development strategies in the hotel industry and the fuzzy logic-based growthdevelopment synchronisation coefficient. The model was tested on multi-annual results (the period 2010–2014), and conclusions and recommendations were made for a future work.
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