Rigas, Georgios

2019-02-15T01:00:16Z

https://repository.ihu.edu.gr//xmlui/handle/11544/29230

Hospitality Cost Control

Menu Analysis

Menu Profitability Analysis Models: Linking Theory and Practice in the Greek Hospitality Context

Linking Theory and Practice in the Greek Hospitality Context

Hospitality

Accounting

Restaurants--Cost control

Hospitality industry--Management

Hospitality industry--Greece

free

School of Economics, Business Administration and Legal Studies, MSc in Hospitality and Tourism Management

The purpose of this action research study is to explore three common menu profitability analysis models, in order to determine if two Hotels in Rhodes utilize the right methods in order to analyze their menus . Also, this work seeks to critically explore the vulnerabilities of common analysis tools and aims to find the most optimal one. Firstly, this dissertation aims to familiarize the reader with the idea of cost and its various aspects. Afterwards, cost control will be explained, along with the notion of standardization and then the core issue of this work, menu analysis, will be explored, by thoroughly examining three menu analysis models. Then, data from Greek Hotels will be implemented, in order to test the models and confirm theoretical assumptions. Conclusions will be finally drawn, and a theoretical analysis model will be proposed , as an alternative approach to the existing methods . This study will manage to prove that two of the most popular Hospitality Enterprises in Rhodes, with structured cost control systems, use less accurate methods to analyze the profitability of their menus. The findings will show that there is a significant difference in results , between the simpler model that the two Hotels use and the more accurate, multi - dimensional model, that theory supports . Meanwhile, it will be attested that criticism surrounding the inaccuracy and deficiency of the is valid. As the first piece of academic work examining three menu analysis models in a Greek context, this thesis aims to highlight the need for further study , on a comparative basis, in order to determine the vulnerabilities of hospitality cost control in Greece . More research is required, so as to construct a more rounded picture of the existing situation, as hospitality is a crucial source of income generation, for the whole country.

Grose, Christos

IHU

60

Rhodes