COST CONTROL TECHNIQUES AND PERFORMANCE OF HOTELS IN OBIO/AKPOR LOCAL GOVERNMENT AREA OF RIVERS STATE

Abstract

The study examined cost control techniques and performance of hotels in Obio/Akpor Local Government Area of Rivers State. The objectives were to determine the relationship between time management technique and record keeping in the performance of hotels. This study utilized the cross sectional survey design. The population of this study comprised 33 hotels in Obio/Akpor L.G.A, State, Nigeria with total of 1,103 staffs. The sample size of the study was 103 respondents. This was utilized through purposeful sampling technique. The research utilized primary data. Primary data were collected using structured questionnaire. Generally, validity is the degree an instrument estimates the variables it expects to measure. The threshold of 0.7 was taken as the acceptable minimum Crombach’s Alpha value.  Inferential Statistics that is Spearman’s Rank Correlation Coefficient was used to test null hypotheses using SPSS version 25.0. The study revealed that there is a significant relationship between  record keeping and performance of hotels. The study therefore recommended that hotel owners/managers should engage in the development of more sophisticated control/accounting application software to enhance an efficient and effective cost control systems on corporate performance. The hotel owners should also embark specialized training for the relevant employees to enhance work efficiency.