Knowledge,Skills,and Abilities for Lodging Management

Abstract

This study examines the effect of the following knowledge, skills, and abilities (KSAs) on managers’ lodging success: human resources management, marketing, financial management, and information technology. The investigation determined that knowledge perceived as important for management success differs from actual KSAs that distinguish senior-level executives from their subordinate middle-level counter-parts. The findings revealed that managers placed highest importance on and were most skilled in human resources management competencies. However, knowledge in financial management appeared to be a stronger indicator of top-level success. Underscoring the importance of financial knowledge was the finding that of all the KSAs being studied, only financial management had a significant, positive relationship with increased compensation. Moreover, financial management appeared to be a key to promotion to top-level positions. The implication of these findings is that educators, trainers, and would-be top executives should pay attention to financial management by ensuring that educational institutions and training programs provide proper coverage of financial techniques and analyses.