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Articles 1 - 12 of 12
Full-Text Articles in Business
Private Club Financial Performance, Raymond S. Schmidgall Ph.D., Cpa, Agnes Defranco
Private Club Financial Performance, Raymond S. Schmidgall Ph.D., Cpa, Agnes Defranco
Hospitality Review
This article reveals the median financial results for the club industry for 2011 using 24 financial ratios. The results are based on the submission of balance sheet and selected income statement numbers from 80 clubs. The ratios are reported as median results for the entire sample as well as the median results for the top and low performing clubs delineated by return on assets. The biggest differences between the two extreme groups of clubs are (1) average collection period, (2) operating cash flows to current liabilities and long-term debt, (3) fines interest earned, (4) fixed charge coverage ratio, (5) food …
Does Financial Performance Depend On Hotel Size? Analysis Of The Financial Profile Of The U.S. Lodging Industry, A.J. Singh, Raymond S. Schmidgall
Does Financial Performance Depend On Hotel Size? Analysis Of The Financial Profile Of The U.S. Lodging Industry, A.J. Singh, Raymond S. Schmidgall
Hospitality Review
This research presents a financial profile of the U.S. Lodging Industry based on an analysis of 2,091 financial statements (fiscal year 2011) for individual hotels ranging in asset size of $500 thousand to $250 million. The study analyzes summary results of the financial position and profitability of hotels based on a common size analysis of Balance Sheets and Income Statements. Furthermore, the study analyzes 10 key performance benchmarks as measured by Liquidity, Solvency and Operating Ratios. The results of the study show a divergence in the hotel industry’s financial performance based on the size of the hotel and by upper, …
Revisiting The Ethics Of Financial Executives In The Lodging Industry, James W. Damitio, Raymond S. Schmidgall
Revisiting The Ethics Of Financial Executives In The Lodging Industry, James W. Damitio, Raymond S. Schmidgall
Hospitality Review
This study revisited ethics in the hospitality industry and involved a randomly selected sample of lodging financial executives taken from the current membership roster of the Hospitality Financial and Technology Professionals (HFTP). After responding to a number of demographic questions, financial executives were asked to respond to 16 business scenarios that involved the issue of ethics. In addition, financial executives were asked if they would or would not do what the controller did in each scenario. Finally, responses of financial executives in the current study were compared to the responses of financial executives in a previous study. Findings indicate that …
Job Satisfaction Of Club Financial Executives, Raymond S. Schmidgall Ph.D., Cpa, Agnes Defranco
Job Satisfaction Of Club Financial Executives, Raymond S. Schmidgall Ph.D., Cpa, Agnes Defranco
Hospitality Review
Studying the job satisfaction of financial management personnel in the club industry may offer additional information to management of clubs to better work with and retain their associates. It is also hoped that the results of this study will provide hospitality students aspiring to become financial management personnel in the club industry with a glimpse of the job satisfaction level of financial executives in the club industry
Securitization Of Lodging Real Estate Finance, A.J. Singh
Securitization Of Lodging Real Estate Finance, A.J. Singh
Hospitality Review
In the early 1990s, the U.S. lodging industry witnessed a severe shortage of debt capital as traditional lenders exited the market. During this period hotel lending was revolutionized by the emergence of real estate debt securities. The author discusses key factors which have affected the growth and development of commercial mortgage backed securities and their changing role as a significant source of debt capital to the lodging industry.
Lodging Real Estate Finance: Securitization, A.J. Singh
Lodging Real Estate Finance: Securitization, A.J. Singh
Hospitality Review
Commercial Mortgage Backed Securities (CMBSs) introduced to the U.S. lodging industry in the early 1990’s were a panacea during a period of severe shortage of debt capital. These instruments changed commercial real estate capital markets by providing flexibility and liquidity to an otherwise illiquid investment As a relatively new form of financing to the lodging industry, the mechanics of securitization, the types of CMBS investments, and their structure are not well understood. The article illustrates the process of securitization and its importance as a significant source of debt financing to the lodging industry
Predicting Financial Sources For The Lodging Industry, A.J. Singh
Predicting Financial Sources For The Lodging Industry, A.J. Singh
Hospitality Review
Given the various changes that have occurred in the financing of the lodging industry, investors and developers interested in the industry are concerned about future sources of capital and the terms at which they will be available. This article presents results of a Delphi study which illustrates the extent to which individual financial institutions are expected to provide capital to the lodging industry and looks at terms and criteria used to make loans.
Financial Planning By Contract Food Service Management Companies, Raymond S. Schmidgall Ph.D., Cpa
Financial Planning By Contract Food Service Management Companies, Raymond S. Schmidgall Ph.D., Cpa
Hospitality Review
Drugs in the workplace is a growing problem that threatens a valuable human resource - the employee. Managers in the hospitality industry can take a proactive stance in meeting the problem head on. The authors discuss what managers can do.
Financial Failure In The Hospitality Industry, Edward M. Tavlin, Elisa S. Moncarz, Deb Dumont
Financial Failure In The Hospitality Industry, Edward M. Tavlin, Elisa S. Moncarz, Deb Dumont
Hospitality Review
The hospitality industry (especially the restaurant segment) has a historically high rate of financial failures. Yet, financial failure in the industry has not received the attention it deserves. In this article, the authors identify basic reasons underlying failed ideas while presenting a study of several hospitality chains that have experienced varying degrees of financial failure. The characteristics and pitfalls of these companies provide the necessary groundwork to explore major lessons to be learned which should aid hospitality management to aviod future business failures.
Financial Ratios: Perceptions Of Lodging Industry General Managers, And Financial Executtves, Raymond S. Schmidgall Ph.D., Cpa
Financial Ratios: Perceptions Of Lodging Industry General Managers, And Financial Executtves, Raymond S. Schmidgall Ph.D., Cpa
Hospitality Review
Financial ratios are the most meaningful information in financial statements to executives and managers. The author analyzes the results of two surveys designed to rank the degree of importance and usefulness of these ratios to several user groups.
Industry Expresses Attitudes Toward Accounting, Finance Curricula, Charles L. Ilvento
Industry Expresses Attitudes Toward Accounting, Finance Curricula, Charles L. Ilvento
Hospitality Review
A survey of hospitality financial executives provides guidance for those planning accounting and finance curricula for schools of hospitality management. The authors discuss the results of their survey sponsored by the Association of Hospitality Financial Management Educators.
Alternative Financing Sources And Their Impact On Profitability, John Stefanelli
Alternative Financing Sources And Their Impact On Profitability, John Stefanelli
Hospitality Review
This article explores the advantages and disadvantages of various financing alternatives for the hospitality industry and discusses their potential effect on the profitability of the firm. The author provides background and perspective for developing the appropriate financing arrangement for a specific hospitality enterprise.