A dea model for measuring efficiency adapted to the hotel sector

Editorial Team Editor in Chief Alfonso Vargas-Sánchez, University of Huelva, Spain Associate Editor T.C. Huan, National Chiayi University, Taiwan Books Review Editor Steve Watson, York St. John University, United Kingdom Secretariat Cinta Borrero-Domínguez, University of Huelva, Spain Mirko Perano, University of Salerno, Italy Style reviewer and text editor Beatriz Rodríguez-Arrizabalaga, University of Huelva, Spain Editorial Board Antonio Manuel Martínez-López, University of Huelva, Spain María Jesús Moreno-Domínguez, University of Huelva, Spain Yolanda Pelayo-Díaz, University of Huelva, Spain María de los Ángeles Plaza-Mejía, University of Huelva, Spain Nuria Porras-Bueno, University of Huelva, Spain Francisco Riquel-Ligero, University of Huelva, Spain Advisory Board (Spanish Members) César Camisón-Zornoza, Jaume I University, Spain Enrique Claver-Cortés, University of Alicante, Spain María Teresa Fernández-Alles, University of Cádiz, Spain José Antonio Fraiz-Brea, University of Vigo, Spain José Luis Galán-González, University of Seville, Spain José Manuel Hernández-Mogollón, University of Extremadura, Spain Tomás López-Guzmán, University of Córdoba, Spain Inmaculada Martín-Rojo, University of Málaga, Spain Francisco José Martínez-López, University of Huelva, Rector, Spain Pablo A. Muñoz-Gallego, University of Salamanca, Spain Josep Francesc Valls-Giménez, ESADE, Spain Advisory Board (Other European Members) Paulo Aguas, Algarve University, Portugal Gustavo Barresi, University of Messina, Italy Carlos Costa, Aveiro University, Portugal Salvatore Esposito de Falco, University of Rome “La Sapienza", Italy Sheila Flanagan, Dublín Institute of Technology, Ireland Tania Gorcheva, Tsenov Academy of Economics, Bulgaria Tadeja Jere-Lazanski, University of Primorska, Slovenia Metin Kozak, Mugla University, Turkey Álvaro Matias, Lusiada University, Portugal Claudio Nigro, University of Foggia, Italy Angelo Presenza, University "G. D'Annunzio" of ChietiPescara, Italy Renee Reid, Glasgow Caledonian University, United Kingdom João Albino Silva, Algarve University, Portugal Advisory Board (Members from the rest of the world) John Allee, American University of Sharjah, United Arab Emirates Nestor Pedro Braidot, National University of La Plata, Argentina Roberto Elias Canese, Columbia University, Rector, Paraguay Luca Casali, Queensland University of Technology, Australia Nimit Chowdhary, Indian Institute of Tourism and Travel Management, India Dianne Dredge, Southern Cross University, Australia Daniel Fesenmaier, Temple University, United States Babu George, University of Southern Mississippi, United States Dogan Gursoy, Washington State University, United States Shaul Krakover, Ben Gurion University, Israel Jean Pierre Levy-Mangin, University of Quebec, Canada Yasuo Ohe, Chiba University, Japan Kanes Rajah, Tshwane University of Technology, South Africa Pauline Sheldon, University of Hawaii, United States Germán A. Sierra-Anaya, University of Cartagena de Indias, Rector, Colombia Xiaohua Yang, University of San Francisco, United States B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 44 A DEA MODEL FOR MEASURING EFFICIENCY ADAPTED TO THE HOTEL SECTOR Bernabé Escobar-Pérez University of Seville (Spain) [email protected]s Antonio Lobo-Gallardo University of Seville (Spain) [email protected] José I. Otero-Terrón University of Seville (Spain) [email protected] ABSTRACT The aim of this paper is propose an improved model based on the technique of Data Envelopment Analysis (DEA) to measure hotel efficiency. For that purpose, an extensive literature review has been carried out, focused mainly on empirical research. As a result, the proposed model incorporates some new operational variables widely accepted within the sector, like the REVPAR indicator, and allows to adapt the efficiency analysis to the current economic conditions and industry circumstances. . KEYWORDS Hotels, Efficiency, Data Envelopment Analysis, Management Accounting. ECONLIT KEYS L830; M190; M410. B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 45 1. INTRODUCTION The current financial crisis is doing more evident the need of a more efficient management at any economic sector in order to the business organization survival (Arnold, 2009). Efficiency as a concept is closely related to the economy of resources and has been traditionally defined as the ratio of results (outputs) and resources used (inputs). Also, the efficient allocation of resources is one of the traditional objectives of the Economy which includes human behaviour as a relationship between ends and scarce means with alternative uses (Robbins, 1932). Research on the measurement of efficiency is a classical area in Economics and one of the areas of economic analysis that has undergone further development in recent times due to the increasing competitiveness in all economic sectors, along with progress globalization, has created an economic environment where survival becomes increasingly difficult (Álvarez, 2001; Salazar, 2005). The measurement of efficiency in the hotel industry is even more important because it is an economic sector whose businesses have a low degree of differentiation. It means that the competition is conducted based on a historically very limited number of factors that have traditionally reduced the price of the services offered or the quality of facilities, in addition to the intrinsic location (Campa, 2004). Moreover, the factors that have usually been related to the efficiency in the hotel sector are no longer determinant due to the financial crisis the classical factors over which it has traditionally pursued efficiency in the hotel sector have been devalued in recent times due to the outbreak of the crisis that took place in 2007 and the consequent difficulty of access to economic and financial resources. This fact is affecting to all sectors of the global economy (Turespaña, 2009). Specifically, this crisis has caused in the hotel sector a real price war. It has led the continuing decline in the rate of hotel prices in Spain since November 2008, representing two years of consecutive declines, reaching a sectorial deflation levels of about 8% during the first quarter of 2009 (INE, 2009). These facts have made worse the difficult situation facing by this sector. Against this situation, there is a need to improve the efficiency hotel as the only way to address the current situation of falling output in the sector, so as to optimize the costs to try to balance the operating results so that you can achieve business B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 46 survival in the medium and long term. To measure and evaluate this efficiency have been developed many models for the hotel sector (Anderson et al., 2000), which should be uniform so that they can carry out relevant comparisons in an objective and eventually help to identify which key factors could help to achieve such efficiency. In this research we focus on the study of different efficiency factors (information systems, revenue management, the method used for wholesale pricing, customer profitability analysis, breakeven analysis, etc.) that are linked to information management, as they are the most important in the hotel sector in the current situation of economic crisis (WTO, 2009). Once justified the importance of improving efficiency in the hotel sector, seeks to put forth an original model that allows measurement of the efficiency in a sample of establishments to reveal later what are the aspects to be improved to increase this efficiency. To do that, we chose the Data Envelopment Analysis (DEA) by adopting the model of Charnes et al. (1981) which satisfies the properties of constant returns to scale, free disposal of inputs and outputs in the strict sense and convexity. Thus, part of the production possibilities set all observed production processes, all arising from rescaling the above and all those who use more inputs with the same output, or obtain less output with the same inputs that the latter, or both at once. The units of analysis in the DEA are called decision making units (DMU onwards) and our work, each hotel of analyzing its input and outputs represents a single DMU. Taking into account all the above mentioned, the aim of this paper is to propose an improved model for measuring the efficiency at the hotel industry, this could reveal what factors are those that can open the road for hotel business in the current crisis context, and it uses the DEA as a proven technique that provides better results in the multivariate analysis (Charnes et al., 1978). An extensive literature review has been carried out to analyze those previous works related to business efficiency, with special attention and detail in those that focused on the hotel industry. Within these we have focused our analysis on those models used to measure the efficiency and more specifically the DEA. To carry out this literature review of the papers published to date were used to query the database (SCOPUS, Google Scholar, others University of Seville on-line databases), which were gradually introduced different searches to limit our field of work publications directly related to the object of study, beginning with "efficiency" B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 47 combined with "hotels" (provided in both Spanish and English) and limiting the search to the last 17 years. Also filters were used to detect all papers found, which had used DEA as a technique for modeling measurement. Once detected and analyzed all published papers as the criteria for our investigation proceed to the next phase consisting in setting out an improved model for measuring efficiency based on DEA, which is required to use a series of tools that allow us know their profitability (performance) compared to the rest of the industry and thus allow for comparisons based on benchmarking as a technique for studying and improving quality, seeking the best practice benchmark for the sector. Consequently, the paper is structured as follows: Firstly, we analyzed the historical evolution of the hotel sector in Spain. Then in the third section we set out the basic approach to the efficiency and the DEA. In the fourth section are summarized the results of previous studies that posed models of efficiency for the hotel sector. In the fifth section outlines the proposed model and, finally, we present the concluding remarks and references. 2. THE HOTEL SECTOR IN SPAIN From a macroeconomic perspective, the efficiency in the Spanish hotel sector is a key issue giving its importance in the economy. In fact, since the sixties, tourism has been established in Spain as a one of the major means of prosperity generation and one of the key industries, especially, considering factors such as the ability to generate employment, the resulting auxiliary industry, the alternative is for declining sectors such as agriculture and low environmental impact (in most cases) compared with other sectors. All this contributes to the consideration of strategic industry for tourism within the national economy (Campa, 2004; Cayon, 2007; Turespaña, 2009). The tourism industry in Spain has been evolving and adapting to the rapid changes that have occurred in recent decades, particularly in relation to the following factors (Biosca, 2001): demographic and social primarily those related to changes in the composition of households (single-parent families with multi-income, geographic dispersion of its members,...), with changes in customs and practices (reduced holiday periods, healthy living and sport, new religions, approach to the oriental culture, etc.) and emergence of new technologies, mostly related to communication such as mobile phones and the Internet. B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 48 These changes have resulted in many cases the emergence of new business alternatives, which have been observed related to the revolution experienced in the systems of on-line or hotel establishments specializing in new forms of tourism such as rural or adventure tourism, or in other cases simply the adaptation of existing and new alternatives such as the spas with medical tourism. However, it is quite ironic that this revolution in the structure and business innovation (Freeman, 2009), has not been matched also with substantial changes in management. Thus, we have seen in some hotels that offer wireless Internet service in rooms, but at the reception, however, have to use pen and paper to calculate a currency exchange. In the same vein, Nightdress (1996) and showed a high level of utilization of information technology (hereafter IT) in the front office applications, but weak in managing resources and costs. It also highlights that companies consider IT as a burden rather than as an asset that can gain competitive advantage. A similar conclusion was reached by Buhalis and Main (1998) in Wales, France and Greece hotels, finding that the managers of the hotels trying to introduce IT to facilitate the operational or strategic, but their lack of these tools often leads them to select, install and operate systems that generally do not react to their needs. The Spanish hotel industry is a clear example of this phenomenon within the tourism sector. One of the main reasons could be that the majority of them have a family ownership structure as well as the small average size of establishments in Spain (Campa, 2004; Giráldez et al., 2004) is common to find establishments will continue to manage the traditional way, ignoring the opportunities for improvement that would result in an increase of efficiency. This approach of maintaining traditional techniques in the management of hotel business has been maintained over time probably because they have been getting good financial results, although perhaps more usually caused by exogenous reasons for the appropriateness of the techniques used (Bayón et al., 1999). In this way, the Spanish hotels were profitable during the tourist boom of the 60's by a supply shortage and the difference in the price level of our country with respect to the sending countries, mainly European such as France, Britain and Germany. Later, during the 70's and 80's hotel business continued to be benefiting from this circumstance commented on the difference in the level of prices, which joined the impact of monetary policies that devalued the Spanish currency (peseta) by the effect on the perception of lower prices from abroad were multiplying. In the 90's and B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 49 thanks to the political and social instability that was experienced in most host countries competing in our environment (mainly the Balkan War in the Adriatic and the Gulf War in Arab countries), again hotel industry benefited from external circumstances that gave rise to a higher occupancy rates and profitability. Finally, institutional support to the sector for the renovation of the hotel facilities attached to the housing boom made the hotel investments they had high rates of return for the beginning of the century and until the start of the crisis in 2007 (Campos, 2008) that disappears when any external competitive advantage that differentiates to hotels Spanish of their environment, therefore face the challenge of survival. As a result the only way of obtaining return on investment is the operating hotel business hotel itself, although the latter is also much more difficult today because the crisis has also caused a sharp drop in demand for hotel beds (INE, 2009) which, in turn, has led to a much greater competition level among hotels. Given this increased competition, most establishments have opted to reduce their prices (hotel Situation Report, 2009) to attract customers and keep sales figures, to produce even a general deflationary since November 2008 that still exists on today and that was in the second half of 2009 was repeated falls observe the annual rate of hotel price index close to 7% (INE, 2009). When prices have fallen, one could sense the danger that the profits decrease significantly, unless there is a cost rationalization so as to get that they adapt to the decreasing rate of income or what the same, thanks to increased efficiency can be maintained rates of return. Thus, the efficiency goes to a close in hotel management as their principal means of subsistence in the medium and long term due to its vulnerability (Turespaña, 2008). Consequently, the evaluation of the efficiency that has always been of great importance in business, going to acquire even a more relevant significance today due to lack of resources caused by the current crisis that initially had a financial situation, but has subsequently resulted in an economic crisis and drastic consequences whose effects are still getting noticed in our day, particularly in the hospitality industry, and is also one of the sectors hardest hit by the recent crisis (WTO, 2008). B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 50 3. DEA AND EFFICIENCY The efficient allocation of resources is one of the traditional objectives of economics that considers human behavior as the relationship between ends and scarce means with alternative uses (Robbins, 1932). As companies often produce multiple outputs from multiple inputs, the efficiency will be in any case a multidimensional scale. Thus, the question is how to measure efficiency. This is done through the comparison of these companies based on their performance in relation to level of outputs achieved in terms of volume of inputs used, so that classifications can be established according to the values obtained from this comparison. The efficiency, therefore, is a relative concept, as arises from comparing similar companies according to their behavior. Thus, a producer is technically inefficient if it uses more factors than the other to produce the same product or using the same resources it obtains a lower production. Thus, the measure of efficiency is based on the distance of individual decision units analyzed for frontier function and it is estimated from the best practices in all the units tested (Rubio, 2007). The different types of efficiency were defined by Farrell (1957) who pointed out in his seminal work its importance in the study of business management and how using multiple outputs / inputs could reach a "satisfactory measure of productive efficiency" which would take into account all the inputs (resources used), also showing as it could be calculated. Farrell contribution has been widely studied from the work of business efficiency, although in the case of the hotel sector have noted that there are many works in this regard. Therefore we intend to introduce a measure in economic terms what is known of performance (Rubio, 2007) for hotel companies to determine to what extent is carried out a proper distribution of the means employed in relation to the results, which is especially relevant today to the general lack of resources that reaches even to the consideration of environmental aspects in the calculation of business costs (Casanueva et al., 2000). The importance of management in the hotel business success is evident in several works, among which that of Mattimoe (2000) which states that the basic factors are distributed on different groups, among which individual factors of each hotel, either functional (organizational structure and management, to the extent that B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 57 As can be seen in the table shown in Table 1 to the measurement of inputs, it is customary to consider data on the productive capacity of the facilities, such as the number of rooms, number of employees or the area under to restore (Wang et al., 2006; Shang et al., 2008, Chiang et al., 2004). This option is recommended, since the objective is to estimate the productive efficiency of firms and this is a fundamentally technical question. However, in many cases to obtain data on the production capacity is not simple, since they are not data to be published individually, but only aggregates. This difficulty in obtaining the information is common to most cases of application of DEA and particularly in the hospitality industry (Sigala et al., 2005). However, this fact should not be an excuse to stop using this variable, but quite the opposite, so you have to find those variables that are related to the productive capacity that are readily available and having the lowest degree of subjectivity possible, supplementing them with financial variables that are contained in the Annual Statements, whose objectivity is beyond doubt to be easily testable. Given the above, we define five input variables: • Expenses of the operations, to capture the effect of resource input consumables, as in the case of raw materials in the restoration of the hotel area (X1). • Personnel costs to reflect the effect of labor. Therefore, it will include all concepts, for example, wages and salaries, Social Security contributions by the company, compensation and other social costs (X2). • Depreciation and amortization in order to capture the effect of physical capital factor, through the depreciation of property, plant for its use, the simple passage of time or obsolescence (X3). • Financial expenses, in order to capture the effect of foreign capital through the cost of it caused by the interest earned on funds invested outside (x4). • Other expenses, to capture the effect of other factors of production such as energy supplies, professional services, insurance, taxes, etc. (X5). To carry out the selection of input variables we considered the quality of data to achieve as a fundamental criterion. Therefore, all the variables mentioned their common feature the ease of obtaining them through databases of financial statements in the market, as is the case SABI (Iberian Annual Statement Analysis Database) used also in such works as those of Rubio and Roman (2007). Thus, using this information there is no doubt about their reliability because they come from the accounting records issued and deposited in relevant public records, for B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 58 companies to examine. It could therefore be said that the selected input variables are similar to those used in previous works like Rubio and Roman (2007), with the novelty of the introduction of a pioneer of the corresponding financial costs, with the intention of obtain an estimate of the efficiency of external financial resources, something we consider very important, especially at the present time, due to lack of financial resources caused by the crisis. Regarding to the outputs variables during the analysis of the work detailed in the Table 1, we have observed that in most cases, is considered as output of hotel revenue generated from, basically, overnight stays and food and beverage services provided (Anderson et al., 2000). Therefore, we consider the total operating revenue of the hotel business as the first variable output. Moreover, we consider necessary to balance the amount of income so that we can take into account the effect of prices and employment. To this end, the best index commonly used in the sector is known as REVPAR (Revenue per available room) calculated by dividing the total income earned by the number of hotel rooms available during the opening period. In this way, come together in a single variable the effect of employment and average selling prices. Of all the studies analyzed, only Chiang et al. (2004) considered this factor, but did not use concrete in their absolute values, but compared to the industry average. In this case, the ease of access to specific data will not be as high as the REVPAR not usually issued by the hotels. However, their components, i.e., the magnitudes through calculated, yes they are available, as well as in the case of income, accessing databases, as well as the number of available rooms, accessing the public records of the Tourism Administration, so we consider it feasible to use. Finally, consider a variable that serves to measure the liquidity situation of the establishment because as mentioned above, at present the capacity to generate financial resources has become a matter of first order because the international financial crisis we are facing has caused has been greatly restricted access to this type of resource. To access this third variable, consult the SABI database for each facility and take balances for balance sheet items most liquid asset, so we must consider the amounts set out in Chapters III, IV and VI that under "Investments in Group companies and associated short term", "short-term financial investments" and "Cash and cash equivalents, respectively, all items with a high degree of liquidity. B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 59 6. CONCLUSIONS In this paper we have proposed an improved DEA model in order to measure the efficiency in the hotel sector. That could allow us to easily carry out a comparison analysis of the efficiency factors involved in the hotels management. It should be noted that the proposed model, unlike previous models in which the DEA technique was applied to the hotel sector, has included specifically the financial component, because of the importance that has taken the issue of financing for the hotels following the international financial crisis that began in mid 2007 and that is affecting all economic sectors, especially, the hotel sector. Furthermore, also due to the lack of research works in this area in Spain, this may constitute a contribution that will enrich the knowledge on efficiency in general terms for the hotel sector. Logically, the proposed model is based just the on the literature review but we will test the model in a small sample of hotels that will grow in light of the results being obtained in a short future research. In this sense, our aim was to find some applicable evidence in order to improve our knowledge on hotel efficiency measurement and provide some applicable results. We also wanted to combine this model with other techniques to achieve progress in certain areas of interest, such as temporal analysis through Malmquist indexes that allow us to obtain a long-term perspective compare different hotels in the sample. Finally, the comparisons will be carried out by geographical area, type of establishments, size and / or any other factor that achieves or not at optimal levels of efficiency. As a final remark, we believe that it would be valuable to conduct further research studies focusing on the specific input and output variables taking into account in the model, in order to improve our understanding of the subject. For that purpose,we consider that case study could be an appropriate method given the multidisciplinary character of the various topics of study, the advantages resulting from its holistic character, and the techniques required to obtain evidence. B. Escobar-Pérez, A. Lobo-Gallardo, J.I. Otero-Terrón Enlightening Tourism. A Pathmaking Journal, Vol 2, No 1 (2012), pp. 44-65 ISSN 2174-548X 60 References Álvarez, A. La medición de la eficiencia y la productividad. Ediciones Pirámide. . 2001. Madrid. ISBN 84-368-1586-6. Anderson, R.I.; Fish, M.; Xia, Y.; Michello, F. Measuring efficiency in the hotel industry: A stochastic frontier approach. Hospitality Management, 18, 1999, pp. 4147. Anderson, R.I.; Fok, R.; Scott, J. Hotel Industry Efficiency. 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