Munich Personal RePEc Archive

Cost-based Management and Decision Making in Greek Luxury Hotels

Zounta, Stella and Bekiaris, Michail G. (2009): Cost-based Management and Decision Making in Greek Luxury Hotels. Published in: TOURISMOS: An International Multidisciplinary Journal of Tourism , Vol. 4, No. 3 (15. November 2009): pp. 205-225.

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Abstract

The use of cost accounting systems by hotel businesses is improving the quality of decision making. The development of theories on costing, combined with advances in information technology, has improved the theoretical capabilities of such systems. However, two questions remain largely unanswered: a) whether these theories lead to tangible improvements; and b) what are the variables that drive the success of cost accounting systems. Our research shows that hotel managers need to be convinced about the use and performance benefits of such systems in the decision making process.

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