Incorporation of Croatian hotel trade in the standard system of monitoring business results in the world hotel industry

Abstract

The paper aims at pointing out the necessity of incorporating Croatian hotel industry in the standard system of monitoring business results in the world hotel trade since it is a precondition of acknowledging and accepting our tourism and hotel industry as a part of the world tourist supply. The following are the needs and advantages of being incorporated in the world hotel industry's system of monitoring business results: • enables comparison of a specific country's hotel industry results with the world industry average, with European industry and hotel industry of specific countries as well as the assessment of the position on the tourist market, • increases the competitiveness of the country's hotel industry as it results in the higher level of services, customers satisfaction and quality of tourism as a whole, • creates and enhances the partnership of the participants in the world tourist market as it enables the exchange of the most important information on hotel operation in specific countries and participation in the international flow of capital, • creates the basis for efficient hotel management as a prerequisite of the hotels successful business and its increased profitability.