Value creation in business hotels: application of importance- performance analysis to assist managers

The paper is based on the assumption that each consumer individually creates the expected value of a service. Confirmation of expectations can be viewed through the difference between the expected and perceived value for the customer. Thus, a perceived value for customers is the difference between all the benefits and all drawbacks of the offer and the possible alternatives considered and assessed by them. Therefore, the main goal of the study is to examine the attitudes of the respondents about the importance/performance of services provided by business hotels. For this purpose, Importance- Performance Analysis was applied to explore the importance the respondents give to certain service elements (Importance), as well as their satisfaction with them (Performance). The data was collected by a survey conducted from July- September, 2017 and the answers of 61 respondents were obtained. Finally, the results are presented in the Coordinate System of the Importance/Performance Matrix with the goal of defining strong and weak points of the services in business hotels. The main findings indicate that factor Reliability is the most important for guests and Tangibility is the least important. Regarding performance, the results are quite similar, with Reliability being the highest rated and Tangibility the lowest. Thus, the Reliability is the only factor in the matrix positioned in the quadrant Concentrate here, while there are no factors in the field Possible Overkill, which is an encouraging finding. The position of the other dimensions and the ratings of all items are discussed in the paper in the light of the practical implications.