Key Performance Indicators in European Hotel Properties

Subject: Finance
Pages: 2
Words: 285
Reading time:
< 1 min

The ideas that Harris and Mongiello are trying to get across in their article are rather adequate and provide a lot of food for thought. Indeed, in the realm of the global economy, it is essential to take a variety of factors apart from the financial ones into account when moulding the company’s strategies, especially the ones that are related to communication in general and the conversation with the potential partners in particular.

Likewise, the financial aspects of entrepreneurship are not to be neglected, either, so a well-balanced approach should be designed so that the company could use its assets properly. The specified approach is especially important for the field of the hospitality industry, as the decision-making process must be based on not only the concept of promoting customer satisfaction through efficient communication but also on an elaborate financial strategy designed to that the organisation could improve the quality of services by cutting some of its side expenses.

Therefore, the arguments that Harris and Mongiello have to offer are rather sensible. However, some of the points that the authors make seem to be are quite detached from reality and, therefore, may require certain adjustments when being applied to the analysis of a real-life situation. To be more specific, determining the course for the company’s evolution, which will contribute to both the financial evolution of the organisation and the promotion of better communication with the customers, partners and staff is hardly possible. Nevertheless, with the adoption of a sustainability principle as the basis for the company’s operations, leveraging the existing resources for keeping both the communication processes and the finances in order is a possibility.