KEY PERFORMANCE INDICATORS FOR HOSPITALITY INDUSTRY: A STUDY FROM THE TOURIST STATE OF UTTARAKHAND, INDIA
Main Article Content
Hospitality Industry, Key Performance Indicators
Hotel in developing economies must create effective competitive strategies for survival, since they exist in an environment where stakeholders are demanding more from every organization. Consequently, they should focus on reliable and critical performance indicators, absolutely important for the success of hotels and adopt a comprehensive performance measurement framework that meets the requirements of the dynamic environment. This research is undertaken to identify the key performance indicators in hospitality industry of Uttarakhand and to find out the influence of managerial characteristics on the choice of performance indicators. Data was collected from a sample of 143 hotel managers of two major tourist locations using questionnaire over a six weeks period. Results indicate that financial indicators are still prevalent and most preferred key performance indicators in the elite managerial segment of almost all hospitality organizations. The study suggests that hospitality managers need to rethink about the choice of their performance indicators.