Browsing by Author "Adanse, John"

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    Influence of strategic management responses on revenue maximisation in 3-5 star rated hotels in selected regions, Ghana
    (Kenyatta University, 2024-10) Adanse, John
    The inability to generate sufficient income to support business operations poses a significant challenge to an organization's ability to maintain profitable operations. To secure sufficient resources for smooth operations and keep successful organisations afloat, revenue-maximisation strategies are adopted. The purpose of this study was to explore the influence of strategic management responses on revenue maximisation in 3-5 star-rated hotels in selected regions of Ghana. The study objectives were: to examine the strategies adopted to achieve optimum room occupancy during the slack period to maximise revenue; to explore reservation strategies adopted by management to maximise revenue; to assess diversification of product and service strategies adopted to maximise revenue; to determine strategic human resource practices adopted to maximise revenue; and to examine the moderating effect of government policies on the relationship between management responses and revenue maximisation in 3-5 star-rated hotels in selected regions of Ghana. A cross-sectional descriptive survey was adopted, where questionnaires, interviews and secondary sources of data were used. The study population were 552 respondents comprising general managers, departmental heads and key informants and a sample of 496 respondents. The qualitative data was cleaned, coded and summarized into themes, while descriptive and inferential analyses were conducted on the quantitative data. Descriptive analysis was performed on demographic data. This study investigates the influence of strategic management practices on revenue maximisation in 3-5 star hotels in selected regions of Ghana, using the multiple regression method. Pre-regression tests showed that revenue maximisation is not normally distributed-Shapiro-Wilk: W = 0.938; P = 0.001; hence, non-parametric kernel regression was adopted. Multicollinearity test had insignificant issues regarding predictor variables, VIF less than 5. Such a regression model explained 89.9% of variance in revenue; (R² = 0.899). This confirms that there are significant effects, as indicated by ANOVA at F = 694.950, P < 0.001. This specifies that predictor variables have a significant influence on revenue maximization. The multiple regression analysis found that most of the β-values (beta coefficients) were positive, indicating significant positive relationships between the predictor and independent variables except for government policies, which showed a negative relationship. Key predictors from the obtained regression equation were room occupancy, reservation, diversification, and human resource strategies. Additionally, a hierarchical regression analysis was used in ascertaining the effect of strategic management responses on hotel revenue, which explained 85% of changes in revenue (R = 0.909). When government policies were included, the explanatory power went up to 89%; R² = 0.890), while interaction terms added another 4%, indicating policy importance. The study concludes that high corporate taxes and interest rates hinder the growth of Ghana’s hotel industry. The study recommends that the Ministry of Tourism, Arts, and Culture should come up with taxation laws that support the growth of the hotel industry in Ghana
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    Optimizing Revenue and Room Occupancy Strategies in 3-5 Star Hotels in Ghana: A Mixed Methods Approach
    (International Journal of Research, 2024) Adanse, John; Khayiya, Rosemarie; Maranga, Vincent
    Generating adequate income to sustain business activities is essential for an organization's profitability. Implementing strategies to maximize revenue is critical for obtaining necessary resources and ensuring ongoing success. This study examined the strategies utilized by 3-5 star-rated hotels in selected regions of Ghana to achieve optimal room occupancy and maximize revenue during periods of low demand. A descriptive survey with a mixed-methods approach was conducted, guided by profit maximization theory. A sample size of 60 3-5 star-rated hotels was determined using the Yamane (1967) formula and stratified random sampling. Data collection involved questionnaires and key informant interviews with 60 managers, 420 department heads, and 16 key informants from the selected hotels. Quantitative data were collected through questionnaires, while qualitative data were obtained from key informant interviews. A multiple linear regression model was employed to analyze the data, with results presented in tables and charts. The findings showed a strong correlation (over 82%) between the strategies used and room occupancy rates. It is recommended that 3-5 star hotels in Ghana continue to offer special rates and targeted marketing efforts, and collaborate with relevant parties to broaden their reach and attract more guests.