Sustainable strategies on financial performances in Langkawi's hotel businesses.
This study investigated sustainable strategy on financial performance in Langkawi's hotel businesses. Hotel industry or service sector which categorized as tertiary sector in Malaysia and contribute to Gross National Product (GNP). So, specifically, it aims to examine in depth the strategies ap...
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| Format: | Undergraduate Final Project Report |
| Published: |
2013
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| Online Access: | http://discol.umk.edu.my/id/eprint/5353/ |
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| Summary: | This study investigated sustainable strategy on financial performance in Langkawi's hotel businesses. Hotel industry or service sector which categorized as tertiary sector in Malaysia and contribute to Gross National Product (GNP). So, specifically, it aims to examine in depth the strategies approach use by hoteliers in Langkawi's hotels to survive and gain competitiveness and impact on financial performance. This study also examines the relationship between sustainable strategies adopted with hotel's financial performances. The study seeks to investigate the level of sustainability of Langkawi's hotelier to boost market opportunity as well as different among size of hotels in term of financial performance. The sampling population comprised 41 owners or managers from Langkawi's small and medium size hotel; and 9 big hoteliers. Structure questionnaire was used in this study to collect data. Descriptive analysis, one sample T-Test, bivariate correlation, regression analysis and one-way ANOVA were used to test he hypothesized proposition and formed formula. The results of one sample T-Test indicated hotels in Langkawi exercise high on market selection and responsiveness; and cost control and resources capacity strategies, instead exercise low on service quality and innovation and marketing synergy. Bivariate correlation was performed and indicated there was a significant relationship between sustainable strategies adopted with hotel's financial performances. One-way ANOVA was executed and the result indicates there was significant different among size of hotels in term of financial performance. The hypothesis testing results that hotels in Langkawai have high level of sustainability. Finally, based on the findings, the implications of the study and recommendations for actions and suggestion for future research are put forward. Hence, small and medium sizes of hotels can convey the competitiveness by adopting sustainable strategies and the implementation must fit to the availability of hotels resource, expertise and technology in order to receive high benefit from these strategies. |
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