|Sustainable Performance Measurement Systems in Hospitality and Tourism|
The course focuses on the increasing importance of performance measurement systems (PMS) in the hospitality and tourism industry. It introduces students to the fundamentals of performance measurement systems and demonstrates how such systems are critical from a strategic, tactical, functional, and accountability perspective for all types of managerial decisions: financing, investing and operating and for all pillars of sustainability: financial, environmental, and social.
The course will educate students on how to map processes, identify stakeholders, select appropriate key performance indicators (KPIs), design and implement an integrated measurement system and use the collected data internally to improve management and externally to report critical information to corporate stakeholders. A comprehensive investigation of existing performance measurement and management systems, financial and non-financial ratios, and reporting frameworks is provided and discussed. Students are expected to employ this knowledge in a case study to develop a set of metrics for a hotel / destination, active in a certain context, to report and to comment on its performance.