Perceived key performance indicators and balanced scorecard model for hospitality industry: a conceptual framework

Hotel organization in transition economies must create effective competitive methods for survival, since they exist in an environment where both customer and investor are demanding more from every organization. In the emergence of the information and competitive era, manufacturing and services organizations are required to acquire new capabilities for competitive success. In search of solution they should focus on reliable and critical performance indicators, absolutely important for the success of the hotels and adopt a comprehensive and balanced performance measurement framework that meets the requirements of a changed environment. The purpose of this paper is to identify the key performance indicators and to develop a conceptual model of balanced scorecard for hospitality industry by analyzing the main studies published in management journals in past years, dealing with hospitality management.