THE ROLE OF VISIBLE INTANGIBLE ASSETS IN IMPROVING BUSINESS PERFORMANCE OF HOTEL COMPANIES

Abstract

The dominance of the knowledge-based economy has led to the intangible assets being seen as a key factor in the development of hotel companies whose efficient use results in competitive advantage and superior performance. The paper considers visible intangible assets which are one part of intangible assets shown in the hotel’s balance sheet. The aim of the paper is to examine the impact of visible intangible assets on the business performance of hotel companies in the Republic of Serbia. This paper analyzes ROA, ROE and RevPAR business performance indicators. The research hypotheses are tested using regression analysis and non-parametric test-to-test differences between groups. Research results do not support the impact of visible intangible assets of hotel companies on business performance indicators observed. Furthermore, the results point to a difference in the value of visible intangible assets between 3-, 4- and 5-star hotels.