Abstract
This report explores the application of Experience Accounting (EA) to enhance strategic decision making in a rural resort, focusing on improving profitability through customer-centric financial management. This study addresses the challenges faced by small- and medium-sized enterprises (SMEs) in the hospitality industry, particularly the lack of tailored information systems for effective decision-making. By integrating the Resource-Based View (RBV) and the stimulus-organism-response (S-O-R) paradigm, EA aligns cost accounting with customer-perceived value, optimizing resource allocation to enhance customer experience and willingness to pay. The case study of a rural upmarket resort demonstrates the practical implementation of EA, revealing insights into resource consumption and customer value across various service components. The findings highlight the inefficiencies in the current service provision and suggest strategic reallocations to improve customer satisfaction and profitability. The results indicate that reallocating resources to enhance service quality rather than infrastructure can lead to greater customer satisfaction and profitability. The adaptability of the EA framework across different hospitality segments underscores its potential for widespread application, offering a valuable tool for the continuous optimization of expenditures and prices based on real-time customer feedback.
Keywords
customer-perceived value, resource allocation, hospitality management, strategic decision making, customer satisfaction, customer-centric accountin
ORCID Identifiers
Mats Carlbäck: https://orcid.org/0000-0002-6365-930X
Ganna V. Demydyuk: https://orcid.org/0000-0002-2504-3141
DOI
10.5038/2771-5957.4.1.1064
Recommended Citation
Carlbäck, M., & Demydyuk, G. V. (2025). Experience accounting to improve strategic decision-making in a rural resort: application case report. Journal of Global Hospitality and Tourism, 4(1), 89-95. https://www.doi.org/10.5038/2771-5957.4.1.1064
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial 4.0 License
Included in
Accounting Commons, Business Administration, Management, and Operations Commons, Hospitality Administration and Management Commons, Social and Behavioral Sciences Commons, Tourism and Travel Commons
