외환위기 전후 관광호텔의 경영성과에 대한 내부 영향요인 연구

The Effects of Internal Factors on Management Performance between Pre- and Post-IMF Financial Support in Tourist Hotels

The purpose if this study is to investigate the influential factors on management performance of deluxe hotels between pre-IMF and post-IMF financial support in Seoul. ROA(Return on assets) and MOS(Margin on sales) were used as dependent variables of measuring the management performance: Financial factor(current ratio, receivables turnover, growth rate of sales), expense factor(rate of sales cost, financial expenses to sales), operation factor(room occupancy rate, average length if stay), and size factor(total assets) were selected as independent variables which influence management performance. 13 deluxe hotels in Seoul were selected for this study. And data collected from Audit reports and management reports during 12 years(1992-2003) were analyzed by multiple regression analysis. The result indicates that the financial expenses to sales were negatively related to ROA and MOS. On the contrary, the room occupancy rate was positively related to ROA and MOS.