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Economic Indicators, Bull And Bear Markets: Relevance For Hospitality Firms, Atul Sheel
Economic Indicators, Bull And Bear Markets: Relevance For Hospitality Firms, Atul Sheel
Journal of Hospitality Financial Management
No abstract provided.
Asian Financial Crisis And Its Impact On Las Vegas Gaming Revenue, Zheng Gu
Asian Financial Crisis And Its Impact On Las Vegas Gaming Revenue, Zheng Gu
Journal of Hospitality Financial Management
No abstract provided.
Natural Occupancy Rates In Hotels, Jan A, Deroos
Natural Occupancy Rates In Hotels, Jan A, Deroos
Journal of Hospitality Financial Management
Calculation of natural occupancy rates can assist market analysts in assessing the relationship between supply and demand in a market. In turn, this could help determine whether the market could absorb more supply in the short term and the long term. This paper outlines the procedure for estimating natural occupancy rates within the lodging industry.
Managing The Corporate Acquisition Process For Success, Kyung-Hwan Kim, Michael Olsen
Managing The Corporate Acquisition Process For Success, Kyung-Hwan Kim, Michael Olsen
Journal of Hospitality Financial Management
The primary purpose of this paper is the discovery of evidence about the determinants of a successful pre-acquisition management process, and the determinants of successful post-acquisition integration, using as data previous general literature on acquisitions. It is hoped that this study will enhance the overall lodging industry's knowledge base about the acquisition process. This study will contribute to future efforts to systematically conceptualize and operationalize the acquisitions process utilized by U.S. lodging firms, by suggesting a strategic acquisition management framework for lodging firms.
The Relationship Between Economic Circumstances And Appraised Values In The Hotel Appraisal Process, 1981-1998, Michael Dalbor, William Andrew
The Relationship Between Economic Circumstances And Appraised Values In The Hotel Appraisal Process, 1981-1998, Michael Dalbor, William Andrew
Journal of Hospitality Financial Management
The purpose of this paper is to examine the economic circumstances that motivated principals in the hotel appraisal process to influence appraised hotel values. The economic circumstances are the background in which appraisals are completed and may be germane to the issue of appraisal accuracy. This paper outlines the relationships in the process and examines the specific circumstances that may have motivated the parties to influence appraised values to be different than market values. Moreover, it provides a basis for further research and empirical tests of these relationships.
Performance Of Exchange- Listed Lodging Firms During The Great Lodging Depression Of The 1980s And Early 1990s, Arun Upneja
Performance Of Exchange- Listed Lodging Firms During The Great Lodging Depression Of The 1980s And Early 1990s, Arun Upneja
Journal of Hospitality Financial Management
Extensive literature in hospitality finance indicates that the lodging depression of the 1980s spanned the years 1980-92 and that the entire industry was losing money for most of that period. For example, Hanson (1994) claims that "after operating at a loss in every year since 1982, the U.S. lodging industry will again be profitable in 1993." However, there are many reasons to believe that exchange-listed lodging firms may have had a different picture than the industry as a whole. This paper discusses some of those reasons and focuses on the profitability of lodgng firms listed on the major stock exchanges. …
Hotel Management Contracts: Breach Of Contract, Termination, And Damages, Robert H. Wilson
Hotel Management Contracts: Breach Of Contract, Termination, And Damages, Robert H. Wilson
Journal of Hospitality Financial Management
Recent court decisions have redefined the relationships and expectations of both owners and operators involved in hotel management contracts. What were once considered irrevocable contracts that a court would enforce with an order for specific performance are now likely to be contracts that can be revoked (but which may carry the risk of damage awards). This paper looks at contract law and examines several interesting hospitality court cases to determine the types of damages that would be available in the event a court determines that a management contract has been breached.
Motivations For Sub- Franchising In The Restaurant Industry: An Empirical Examination, Yae Sock Roh, William P. Andrew
Motivations For Sub- Franchising In The Restaurant Industry: An Empirical Examination, Yae Sock Roh, William P. Andrew
Journal of Hospitality Financial Management
This study is a test of the capital market, agency, and brand name capital explanations for the existence of sub- franchising in the restaurant industry. Proxies for measuring a franchisor S use of the capital markets, agency costs, and brand name capital are developed and described. Logit analysis is employed to examine the relationship between these factors and the use of sub- franchising. The results support the use of sub-franchising when the costs of monitoring franchisees are high and when franchisors wish to overcome weak brand name capital.
Ahfme Member 1997 Total Annual Earnings Survey, Raymond S. Schmidgall
Ahfme Member 1997 Total Annual Earnings Survey, Raymond S. Schmidgall
Journal of Hospitality Financial Management
This study was conducted to determine the 1997 annual earnings of hospitality financial management educators. Just over fifty percent of AHFMEfs members affiliated with educational institutions responded. Annual base salaries ranged from $25,000 to $110,000. The lowest-paid member is an assistant professor while the highest-paid member is a full professor. Most respondents supplement their base salaries by teaching during summer school and doing consulting work. The total annual earnings of members ranged from $29,000 to $180,000. Hospitality financial management educators appear to be more highly compensated than hospitality industry financial executives.
Responding To The Asian Financial Crisis: Malaysian Capital Controls And Their Implications For Tourism, Muhammad Asad Sadi
Responding To The Asian Financial Crisis: Malaysian Capital Controls And Their Implications For Tourism, Muhammad Asad Sadi
Journal of Hospitality Financial Management
The Asian financial crisis has had an impact on both the Malaysian economy and its tourism industry. This paper summarizes recent developments and critically examines the capital controls imposed as part of the government S response strategy and their consequences. Issues addressed relate to the relationship between economic movements and tourism with a conclusion that recovery of the tourism sector is likely to be hindered by current economic policy unless sound strategies are put in place in the process.
A Predictive Study To Determine The Structure, Capital Needs, And Performance Of The Lodging Industry/The Role Of Financial Institutions In Providing Capital To The Lodpng Industry: A Historic Review And Delphi Study To Predict The Scenario In Years 2000 And 2005, A. J. Singh
Journal of Hospitality Financial Management
No abstract provided.
Effects Of Changes In Economic Circumstances On Agency Relationships In The Appraisal Process, 1980-1997, Michael C. Dalbor, William P. Andrew
Effects Of Changes In Economic Circumstances On Agency Relationships In The Appraisal Process, 1980-1997, Michael C. Dalbor, William P. Andrew
Journal of Hospitality Financial Management
The purpose of this study is to examine economic circumstances which motivated principals in the hotel appraisal process to influence appraised hotel values. The economiccircumstances are the background in which appraisals are completed and may be germane to the issue of appraisal accuracy. The study outlines the relationships in the process and examines the specific circumstances that may have motivated the parties to influence appraised values to be different than market values. Moreover, it provides a basis for further research and empirical tests of these relationships.
An Examination Of Restaurant Failure Rates In The United States, Steve Morse
An Examination Of Restaurant Failure Rates In The United States, Steve Morse
Journal of Hospitality Financial Management
In the hospitality sector of the economy, restaurants account for the largest number of businesses. The financial failure rate of businesses in the general economy are sometimes reported with variations in the business cycle, but the specific failure rate of restaurant establishments has not been examined. In addition, failure rates for hospitality related businesses reported across geographic regions of the U.S. are not known. A review of related literature suggests that studies with a focus on the failure rate of hospitality related businesses have not used official business bankruptcy data recorded by the U.S. Bankruptcy Court System. Using these data, …
State Referendums On Casino Gaming: The Effects On The Valuation Of Casino And Gaming Stock, Stanley M. Atkinson, Anthony K. Byrd, Stephen M. Lebruto
State Referendums On Casino Gaming: The Effects On The Valuation Of Casino And Gaming Stock, Stanley M. Atkinson, Anthony K. Byrd, Stephen M. Lebruto
Journal of Hospitality Financial Management
The purpose of this study is to determine whether the expansion of the casino gaming industry has had an effect on the growth of individual companies within this segment of the hospitality industry. We examine ten individual state referendums and the Indian Gaming Regulatory Act of 1988. Six state referendums and the IGRA were passed. Four state referendums failed. Our sample consists of 24 publicly traded casino gaming firms. Daily stock price data were collected and examined to determine the effects of the successful and failed referendums. The results are mixed. On average, successful passage of state gaming referendums had …