Abstract
Tourism industry is one of the world's largest industries with a global economic contribution of over 7.6 trillion dollars in 2016 which provides an equal or even surpasses the business volume of oil exports, and ”Žfood and beverage.As the current climate of the globe, Vietnam's tourism in general, hospitality in particular has attracted investment from not only domestic enterprises but many international hospitality corporations which create a fierce competitive than ever.Identifying inefficient activities and providing improvement in whole process is crucial. The present research aims to study and evaluate the performance of Vietnam hospitality industry through 20 chosen companies that qualify criteria of Data Envelopment Analysis (DEA) model and Malmquist productivity index. It would be a useful tool in benchmarking the efficient firms and inefficient ones operating in the industry and help the former to improve their efficiency. The researcher uses 5 input variables (Cost of good sales; sales expense; operation expense; fixed assets and owner equity) and 2 output variables (Revenues and Profit after tax).DMU1 and DMU8 face with huge fluctuation in efficiency which acquires the management board to review and improve their operation process to ensure the sustainable development of the firm in current competitive market.
Highlights
Nowadays, tourism industry is one of the world’s largest industries with a global economic contribution of over 7.6 trillion dollars in 2016 which provides an equal or even surpass the business volume of oil exports, and food and beverage
The research was only conducted 20 companies whose financial reports are audited by reliable institutions and collected from Vietnam Stock Exchanges Market or company’s official website from 2013 to 2017 and denoted from DMU1 to DMU20 as the order in the table 3.1. in addition, the financial result of Vietnam hospitality companies from 2013 to 2017 are generated in the bellow table: 4. Table 3. 2 - Decision making unit
One of the standard approaches for measuring productivity that applied in many researches overtime is the Malmquist productivity index, especially when nonparametric specifications are applied to micro data
Summary
Tourism industry is one of the world’s largest industries with a global economic contribution of over 7.6 trillion dollars in 2016 which provides an equal or even surpass the business volume of oil exports, and food and beverage. The present research aims to study and evaluate the performance of Vietnam hospitality industry through 20 chosen companies that qualify criteria of Data Envelopment Analysis (DEA) model and Malquist productivity index. Full-time employees in each department: the Revenue of each divisions: room service department, the F&B room, food and beverage; department, number of hotel rooms, floor area and other revenue in the F&B service department; cost for each service sector, shared input. Labour, rooms, hotel areas, property’s book number of guests; value, operation expenses, external expense occupancy rate, revenue of room service, food and beverage service. Number employees, Sales revenues and total operation expenses number of spent nights
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