STANDARDISED AND CUSTOMISED KEY PERFORMANCE INDICATORS AND CRITICAL SUCCESS FACTORS IN HUNGARIAN HOTELS

Abstract

The concept of performance in hospitality industry is regarded somewhat similarly to the other (service) sector organisations: performance is managed and measured according to the financial (hard) and operational, organisational (hard and soft) and human (soft) approaches (Goldsmith et al, 1997; Claver-Corte´s et al, 2007; Klidas et al, 2007; Sainaghi, 2011,). Measuring performance is one way of performance management (Halachmi, 2005). Measuring is important to know where an organisation starts and how it operates presently and where it is heading to (Armstrong and Baron, 2011). To identify what should really be measured and where to start when developing a performance management system an organisation must start to identify its critical success factors (CSFs) and key performance indicators (KPIs) (Rockart, 1979). In this paper we present customised and standardised CSFs and KPIs in a case study based on 4 semistructured interviews carried out with Hungarian hotel managers.