Driving Revenue Growth: The Role of Strategic Human Resource Practices in 3-5 Star Hotels in Selected Regions of Ghana (Published)
This study explores the impact of strategic human resource practices on revenue maximization in Ghana’s 3-5-star hotels across eight regions. Employing a descriptive survey method, data was gathered from 60 hotels, focusing on human resource practices and revenue strategies. Results reveal a robust correlation (R = 88.3%) between strategic human resource practices and revenue maximization. Regression analysis indicates a significant impact of “human resource” (β = 0.282, p < 0.001) on “revenue maximization.” Factor analyses identify key practices, including pricing strategies, operational efficiency, and guest satisfaction, crucial for revenue optimization in Ghana’s hospitality industry. Policy implications underscore the importance of training initiatives, competitive hiring incentives, and technology integration in workforce development for enhanced revenue outcomes. These findings provide essential guidance for policymakers, industry stakeholders, and hotel management, emphasizing the alignment of human resource strategies with revenue objectives in the dynamic Ghanaian hospitality landscape.
Keywords: Human Resource Practices, employee compensation, hotel industry, profit maximisation, training development