Budgeting practices in the Turkish hospitality industry: An exploratory survey in the Antalya region |
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Authors: | Ali Uyar Necdet Bilgin |
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Institution: | 1. Faculty of Economics and Administrative Sciences, Fatih University, Istanbul, Turkey;2. School of Tourism and Hotel Management, Mustafa Kemal University, Numune Mah. Sad?k Ahmet Cad. 31200 Iskenderun, Hatay, Turkey |
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Abstract: | The present study aims to explore budgeting practices of Turkish hotels in the Antalya region which is the most prominent tourism center of the country. The results indicate that having a budget committee and budget manual are common for Turkish hotels. Secondly, participative budgeting is advocated within the industry. Furthermore, budget period seems dynamic, because hotels state that they revise budgets and make periodic reporting within the budget period. Profitability and cost control are the primary reasons in budget preparation. Finally, budgets are viewed as one of the primary performance indicators. |
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Keywords: | Budget Budgeting Hotels Hospitality industry Turkey |
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