Costs represent the value of consumed goods needed to achieve a certain effect. To start a business and fulfilment consumer requirements, it's inevitably to use resources in order to get the last product. Nowadays, due to inflation, the influence of new technologies, customer requirements, globalization, competitive pressures, but also the growing recessionary pressures, it's required to take notice to the analysis of the existing way of doing business and finding effective opportunities to maintain or increase it. Also, for these reasons, companies are increasingly applying modern cost management methods instead of traditional models. Cost management method, or planning, calculating and controlling costs, can greatly determine how well a company will operate. The primary objective is to analyze the characteristics of cost management in the hotel industry and point out the importance of cost management as a particular way of controling a factory in a way that the greatest importance in creating organizational goals is given to cost optimization. Long-term preservation of the competitive position on the market and realization of the company's profitability is not possible without an active and quality cost management policy.