An examination of tangible asset management practices in thermal hotel enterprises

This study aims to reveal the current state of physical asset management practices in thermal hotel enterprises and to analyze the challenges encountered in these processes to develop solution-oriented recommendations. Thermal hotels are tourism enterprises that place special emphasis on physical asset management due to their capital-intensive infrastructure and the necessity of service continuity. In this context, the study adopts a holistic approach to the planning, utilization, maintenance, renewal, and performance evaluation of assets, based on the ISO 55000 Asset Management Standard. A qualitative research method was adopted in the study. Semi-structured interviews were conducted with 15 managers working in 8 five-star thermal hotel enterprises operating in Afyonkarahisar and its Sandıklı district. The interview data were analyzed using MAXQDA 2024 software through thematic coding. The findings indicate that physical asset management in these enterprises is generally carried out based on individual experience and intuitive approaches, and that institutional systems and digital inventory infrastructure are insufficient. Furthermore, the level of awareness regarding the ISO 55000 standard is limited, and maintenance and asset life extension strategies are implemented without systematic planning. The study concludes that, for more effective physical asset management in thermal hotel enterprises, institutional capacity should be strengthened, digital monitoring systems should be integrated, risk-based maintenance approaches should be adopted, and a systematic asset management model should be developed with external expert support. The findings contribute to the academic literature and offer practical recommendations for sector stakeholders. Keywords: Asset, Asset Management, Physical Asset Management, Thermal Hotel Enterprise.