Analysis of efficiency and efficiency dynamics of a hotel company can
enable the management to direct its efforts to those factors that influenced the
most the change of these indicators. As the analyses showed that the biggest
growth was achieved on the level of proportional costs, especially costs of
material, moves that the management should do are to find a more adequate
supply chain, i.e. more favourable purchase prices at material supplier,
decrease of wastage and overspending of material in production and hotel
service process (through realistic setting of material norms in the future
period), better organization of work process in order to achieve maximum
efficiency of used resources and such. All these measures are within cost
management. Cost management is efficient only if, through analysis, critical
points of business are really found and adequate and timely measures to
prevent further increase and uncontrolled cost growth are implemented.
The conclusion of the whole performed analysis is that management of
corporative resources represents one of maybe the most accessible measures
for improvement of business in current business conditions. Cost
management, with all its analytical instruments, such are indicators of
efficiency, productivity, revenue rate, and like represents an important area of
management in the function of economic success of all companies, including
hotels. Since business conditions are becoming more unpredictable and very
changeable, companies have to turn to internal chances for establishing a
more efficient business process, in order to be capable to survive and develop
in the market.