Monitoring and Assessing Business Performance in Tourism: The Case of Hospitality Business

Abstract

Purpose

Monitoring and assessment are essential in the measurement of tourism business performance. Therefore, the purpose of this chapter is to illustrate how monitoring and assessment procedures can be applied in the hospitality business.

Methodological/approach

A case study and micro examples provide a framework for the monitoring and assessment of business performance in the hospitality business.

Findings

This chapter provides reasons why the tourism business uses control measures to monitor business performance. This is complemented with practical steps in the assessment procedures and guidelines for assessments. Different types of assessment procedures together with the characteristics of performance management provide a well-rounded overview to tourism business owners on how to conduct monitoring and assessment.

Research limitations

Due to the explorative nature of the monitoring and assessment case study, more empirical studies are needed to investigate and test performance measurement from a developing country perspective.

Practical implications

Discussions from the case study support the steps and practical guidelines in the monitoring and assessment of the tourism business.

Originality/value

The case study offers new practices into prospective entrepreneurs’ measurement and understanding in the monitoring and assessment of business performance.

Citation

Swart, M.P.(. and Taylor, A. (2018), "Monitoring and Assessing Business Performance in Tourism: The Case of Hospitality Business", Sotiriadis, M. (Ed.) The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality, Emerald Publishing Limited, Leeds, pp. 207-222. https://doi.org/10.1108/978-1-78743-529-220181008