This study was conducted to examine the effects of sales environments, such as the scale of hotels, percentage of foreign guests and their connections with tourism companies, strategic factors, and financial characteristics, on managerial performance. This was done to aid in the reasonable decision-making processes of super-deluxe hotels in Korea. This study used a multi-regression analysis, which revealed that the sales characteristics of hotels and the percentage of foreign guests and their connections with tourism companies were more significant variables. In terms of financial characteristic variables, the fixed asset turnovers and liquidity ratios were valuablein the ROE in all the samples. In second-grade super-deluxe hotels, on the other hand, cash flow was determined to be the most significant variable.