Friday, 30 July
Information
There has been a multitude of research on service recovery and various facets of recovery. Some of this work relates the facets to outcome variables such as satisfaction and intent to return but no research has been found that quantifies what that impact on satisfaction or intent to return converts to in financial terms. This work presents two formulas for calculating the dollar cost/benefit of service recovery efforts. The ability to utilize these formulas can help organizations better assess service recovery initiatives. Key words: hotels, service quality, service recovery, revenue recovery, intent to return.
Start Date
30-7-2010 10:15 AM
End Date
7-30-2010 11:15 AM
wf_yes
Putting the Dollar Signs to Quality: The benefits of service recovery in the hotel industry
There has been a multitude of research on service recovery and various facets of recovery. Some of this work relates the facets to outcome variables such as satisfaction and intent to return but no research has been found that quantifies what that impact on satisfaction or intent to return converts to in financial terms. This work presents two formulas for calculating the dollar cost/benefit of service recovery efforts. The ability to utilize these formulas can help organizations better assess service recovery initiatives. Key words: hotels, service quality, service recovery, revenue recovery, intent to return.