TY  - JOUR
AB  - Purpose– The purpose of this research is to provide companies in the hotel and tourism industry with an alternative reporting method to the traditional financial reporting.Design/methodology/approach– ValueReporting™ is a framework developed and tested in 16 other industries by PricewaterhouseCoopers. Its ambition is to codify the information perceived to be critical by CFOs and the investment community for understanding the quality and sustainability of performance of a company in a given industrial sector. Given that the hotel and tourism industry is one on which the economy of Cyprus depends (in 2003 it was 13.9 per cent of GDP) and is one that has been going through a sustainability crisis, it was decided to develop the framework for this sector and to recommend it to executives as a method of mitigating this current lack of confidence. The study was tested on financial statement users (analysts, investors and regulators) and executives.Findings– The findings identified that users wish to understand the operational drives of performance (“value‐creating activities”) and that there is an information gap between the information the users want and the information they get.Research limitations/implications– The study was of interest to publicly listed companies or public but not listed. Given the relatively small number of companies in the industry and the limited number of users, this study needs to be replicated in another country with a bigger sample size.Practical implications– The focus in ValueReporting™ should be on value‐creating activities and measures should be taken by the hotel and tourism industry in Cyprus to tailor the information in ValueReporting™ to the special concerns of the users.Originality/value– Whilst many frameworks have been put forward, they lack the detail testing that ValueReporting™ has had in 16 global industries. This framework has not been tested in the hotel and tourism industry, which makes this work original.
VL  - 18
IS  - 1
SN  - 0959-6119
DO  - 10.1108/09596110610641948
UR  - https://doi.org/10.1108/09596110610641948
AU  - Krambia‐Kapardis Maria
AU  - Thomas Alison
PY  - 2006
Y1  - 2006/01/01
TI  - Hospitality industry in Cyprus: the significance of intangibles
T2  - International Journal of Contemporary Hospitality Management
PB  - Emerald Group Publishing Limited
SP  - 6
EP  - 24
Y2  - 2024/04/18
ER  -