Abstract
This study explores Korean tourist hotel budgeting practices and compares budgeting practices of two hotel categories: upscale hotels and budget & mid-priced hotels. Its justification is the lack of research on the related topic. To achieve the purpose of this study, a questionnaire consisting of questions related to budget planning, execution, and control stages was sent to 183 Korean tourist hotels, 78 of which (36 upscale and 42 budget & mid-priced hotels) participated in this survey. To analyze survey responses, frequency analysis, descriptive statistics, and t-tests were employed to determine the similarities and differences in the budgeting practices between the two hotel categories. The results indicated that the budgeting practices of these hotel categories were significantly different from each other. The main differences between the two hotel categories were identified in the practices of budget manual existence, budget period, long-term budget existence and its period, budget execution stage, and budget variation analysis frequency and its examiners.
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