Accounting Management in Hotels_Final - Case Study Example

The results revealed that economic growth as a result of the utilization of accounting management is the major growth indicator of the hotel industry. Other indicators identified in the primary findings included social status and peer pressure on the kind of hotel to visit (Assaf & Barros, 2011). The researcher recommends future research to put into consideration existing cultural differences in different towns in GCC and UAE. It also recommends that learning institutions should promote accounting practices as revealed from the finding of this research to gain a competitive advantage in the growing hotel industry which is currently the key economic driver in the region (Assaf & Barros, 2011).

The Gulf region is becoming increasingly popular for its tourism and recreation industry. The location being a strategic spot for visitors from around the world, people for personal recreation as well as business activities come into the region. UAE with its current political and development policies has been able to see economism boom in the last few decades (Mansfield & Winkler, 2007) and a portion of the credit for this growth goes to the hospitality industry as well. The hotel industry in different countries around the work, like Greece (Pavlatos & Paggios, 2007) and the UK (Collier & Gregory, 1995) have been extensively researched and explored upon.

The best practices for operation have been sought by researchers who have reported on the industry insights and trends particular to both operational management as well as a strategic point of view (Jones, 1999). However specific to the UAE and Gulf region limited research is available on the Hotel industry and its management.         This project elaborates on this gap and seeks to identify the operational trends in the Hotel Industry the Gulf region, specific to financial management and accounting policies.

The region has seen significant growth in this industry and the relationship between the accounting practices and the success of the industry is targeted for exploration. This research will be particularly useful for those seeking to invest in the hotel industry in the region.