A STUDY OF HOTEL MANAGEMENT FINANCIAL COMPETENCIES WITH THE FOCUS ON REVENUE AND COST MANAGEMENT

Yang Yuan

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Hospitality and Tourism Education Competency Development and Evaluation Accounting Education and Careers

Abstract

The objective of this research is to investigate the core financial analytical competencies that hospitality managers must possess.Similar measurement was employed in both the industry practitioners' and the educators' survey, as the aim was to explore the importance and use of revenue and cost management competencies among manager participants and compare the findings with those obtained from the educators' survey.The results of this study showed that cost control, followed by revenue management, budgeting, forecasting, pricing, and asset management, are the essential financial competencies of hotel managers.The perception gap was found between hospitality managers and educators on the importance of these financial competencies.The findings of this study could provide suggestions for hospitality education and industry training programs.

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2004The Theory and Practice of Revenue Management 2006Competing on analytics.2005How business schools lost their way.2009Creating Effective Teaching and Learning Environments: First Results from TALIS 2008What skills and attributes does an accounting graduate need? Evidence from student perceptions and employer expectations 1992Yield Management at American Airlines 2009An investigation of the role of justice in turnover intentions, job satisfaction, and organizational citizenship behavior in hospitality industry 2006Understanding What We Mean by the Generic Attributes of Graduates

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