Abstract
This study surveyed 393 lodging controllers on the use of forecasting and budgeting at the departmental level in hotels. A total of 140 questionnaires (35.62 percent response rate) were returned. The study found that controllers rated “staffing properly” as the main benefit (5.82/7.00) for preparing forecasts and “planning strategically” (5.93/7.00) for preparing budgets. While one may suspect that perceptions and practices on forecasting and budgeting are vastly different depending upon the size of a hotel, this study also showed that size, or the number of rooms in a hotel, did not significantly influence the perception of the usefulness or the practices of these two financial functions.
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