Financial Benchmarking in the Hotel Industry: Analysis of the Efficiency and Performance of Hotels in the Context of the New Economic Reality

In modern business, achieving a high level of efficiency and optimal company performance becomes crucial for maintaining a competitive advantage. Accordingly, financial benchmarking is an indispensable tool in business evaluation, enabling organizations to systematically and continuously measure and compare their own organizational business processes in relation to the business processes of leaders around the world. Therefore, this paper is dedicated to a deeper analysis of the efficiency and performance of hotels in the Republic of Srpska through the application of financial benchmarking. The goal of the research is to understand the factors that influence the efficiency and performance of hotels in the Republic of Srpska through financial benchmarking, with a focus on identifying value drivers, all for the purpose of improving the company's performance. Through a detailed analysis of financial reports and relevant indicators, the research will provide insight into the current situation in the sector, identify potential areas of improvement and contribute to the overall improvement of the hotel industry's competitiveness in the region. For the purpose of analysis, two hotels in Republic of Srpska were selected that meet the conditions to be the subject of this analysis through financial benchmarking. Accordingly, annual financial reports were used, as well as other data from the stock market related to the shares and dividends of the observed hotels for a period of three years, from 2020 to 2022.