Jul 31st, 10:15 AM - 11:15 AM
Developing a New Performance Measurement Metric in the Hotel Industry: Application of the Balanced Scorecard and the Fuzzy-Analytic Hierarchy Process Model
The purpose of this study is to develop a performance measurement model that combines the balanced-scorecard and the fuzzy-Analytic Hierarchy Process in the hotel industry. A survey was administered to executives working in luxury hotels to determine their priorities among selected attributes. The financial attribute is found most important followed by customer, learning and growth, and internal business perspective. A total performance score for each hotel was determined, and the performance rankings of the hotels were revealed using the new composite index. The results suggest that hotel managements adopt the new proposed evaluation model as a supplement to traditional performance measures.