Food and Beverage Management Commons^™

The Impact Of The Eb-5 Program In The Hospitality Industry: Now And The Future, Francis A. Kwansa, Xiangmei Yang

Journal of Hospitality Financial Management

The Employment-Based Fifth Preference program (EB-5) is one of five categories of employment- based visas that provide permanent residency to foreign nationals in the United States. In return, foreign nationals interested in the program are required to make investments of $1 million in busi- nesses and create a minimum of ten jobs in the United States. Since its creation in 1990, the EB-5 pro- gram has had a significant economic impact in the United States through infusion of external capital into the economy and through the creation of thousands of jobs. The hospitality industry has been one of the popular …

Futurizing Gastronomic Experiences In Natural Environments, Francesc Fusté-Forné

Journal of Sustainability and Resilience

The current pandemic accentuated the need for a more responsible tourism system, where local food production and consumption become a cornerstone of sustainable tourism futures. Experiences embedded in natural environments are neither new nor recent, but the pandemic urged tourism stakeholders to look at nature again as a source of inspiration for tourism regeneration. The research analyses the configuration of gastronomic experiences in protected areas through the philosophy of a gourmet restaurant located in a volcanic setting in Catalonia, north-eastern Spain.

Determination Of Food Neophobia Levels Of International Mersin Citrus Festival Participants, Sevda Sahilli Birdir, Nurhayat Iflazoglu, Kemal Birdir

University of South Florida (USF) M3 Publishing

Mersin Citrus Festival is considered the biggest festival of the province and is an international event held in Mersin every year. The festival aims to introduce citrus fruits, the most important agricultural product grown in Mersin. This study was carried out in order to determine the neophobia levels of attendees’ and to measure their attitudes towards new foods at the 7th International Mersin Citrus Festival. Answers to four research questions were sought in the study. The data were obtained through a survey on 1-3 November 2019, using the convenience sampling method. The obtained 152 usable questionnaires were subjected to statistical …

Note From Special Issue Guest Editors And Invited Contributors, Amit Sharma, Bendegul Okumus, Seoki Lee

Journal of Hospitality Financial Management

No abstract provided.

Impacts Of Covid-19 On The U.S. Restaurant Industry From The Global Perspective, Seoki Lee, Hyoungju Song, Michael S. Lin, Amit Sharma

Journal of Hospitality Financial Management

The current study explores the impact of COVID-19 on the U.S. restaurant industry in terms of its stock performance, and further incorporates a global perspective into this examination by testing both the main and moderating effects of non-U.S. COVID-19 and also the moderating effect of the internationalization strategy of the U.S. restaurant industry. Findings of this study confirm that U.S. COVID-19 had a negative influence on U.S. restaurant firms' stock returns while non-U.S. COVID-19 had a positive impact. Further, the non-U.S. COVID-19 had a positive moderating effect on the relationship between U.S. COVID-19 and restaurant firms' stock returns. Unexpectedly, the …

Cost-Benefit Analysis Rules For The Foodservice System, Amit Sharma

Journal of Hospitality Financial Management

Cost-benefit analysis (CBA) is an established approach to help make informed decisions. The practical technique has been used extensively in several areas of study, and there is a robust literature on numerous aspects of CBA. While the functional characteristics have been well expounded, the incorporation of CBA into varied disciplinary contexts remains scanty. Foodservice systems can be viewed as an extension of the broader food system. Within food system economics literature, a critical gap remains in the study of behavioral decision-making through the lens of microeconomic approaches. CBA provides a theoretical approach to conduct such inquiries. Two rules in the …

Food Policies And Issues In The United States, Europe, And Asia, Bendegul Okumus

Journal of Hospitality Financial Management

This study examines global and local food policies in United States, Europe, and Asia and discusses possible challenges and gaps for public and food actors, particularly from an economic perspective. In this paper, food policies and regulations are assessed by reviewing global reports, documents, and scholarly journals. The paper emphasizes the possible risks and disjunctions between theory and application of economic food policies in the foodservice industry. Food regulations, inspection challenges, food insecurities, and food safety issues are summarized. Regardless of the level of strict food policies and facilities, unsatisfactory results still exist in developed and developing countries and have …

Factors Impacting Food Away From Home (Fafh) Spending In The United States: A Macroeconomic Perspective, Michael S. Lin, Inhaeng N. Jung, Yidan Huang

Journal of Hospitality Financial Management

In the United States, individuals spend more than half of their food expenditures on food away from home (FAFH), and this trend is growing. This study aims to examine the factors that impact FAFH from a macroeconomic perspective. Macroeconomic and FAFH spending data from January 1997 to February 2020 were obtained from the various databases. The results reveal that the unemployment rate, Consumer Price Index (CPI), stock index, and oil price had a significant negative influence on both nominal and constant FAFH spending percentage, and oil price had a significant positive influence on constant FAFH spending percentage. This study contributes …

Ua12/2/1 Best Of The Hill, Wku Student Affairs

WKU Archives Records

Special edition of the College Heights Herald, includes articles:

• Spainhoward, Emma. Editor’s Letter
• WKU Favorites
• Adjusting to Apartment Life During a Pandemic
• Food & Drink
• Things to Do
• Miscellaneous
• Clothing & Gifts

Florida's Food Truck Industry: Tackling The Food Safety Challenges And Health Risks, Bendegul Okumus, Sevil Sonmez

Rosen Research Review

Street food is a popular part of daily life, with a vast variety of vendors and food trucks around the world. It is easily available and well-known foods contribute to the local economy. Despite these strengths, many cultures don't highly regard street food. In particular, it's often perceived as unhygienic compared to restaurant food. These concerns around standards are indeed upheld by research in some countries. Researchers Dr. Bendegul Okumus and UCF Rosen College of Hospitality Management and Dr. Sevil Sonmez at UCF College of Business analyze the inspection challenges street food faces and review the gaps between food safety …

2019-2020 Restaurant Industry Performance Index, Atul Sheel

Journal of Hospitality Financial Management

No abstract provided.

Impact Of Leverage On Financial Information Quality: International Evidence From The Hospitality Industry, Cédric Poretti, Alain Schatt, Tiphaine Jérôme

Journal of Hospitality Financial Management

Earnings are a key firm-performance yardstick for investors. The quality of earnings has fascinated researchers and investors alike, as it may be manipulated by a firm's management. This paper studies the relationship between earnings quality and debt levels of firms in the hospitality sector, using a sample of 642 firms from 26 countries for the 2002-2016 period. Results of this study suggests a generally positive relationship between a firm's leverage and its earnings quality in the hospitality sector, particularly for firms incorporated in countries with stronger investor protection. As such, some interesting implications of the leverage-earnings quality relationship are revealed …

F&B Performance In The United States Hotel Industry, Michael S. Lin, Inhaeng N. Jung, Amit Sharma

Journal of Hospitality Financial Management

Competitive environments warrant otels to diversity products and services. Diversification is necessary to reduce the risks associated with revenues and profitability. This study explored whether food and beverage (F&B) activities have the potential to create a diversification of revenue sources for hotel businesses. Using STR hotel performance data from 2007 to 2016, the study conducted panel regression analyses and time trend analyses in the pre- and post-2008 recession period to investigate the impact of diversifying revenue and profit sources through F&B activities. Results indicate that F&B activities can be a source of diversification for upper upscale hotels. Results further suggest …

Does Geographic Focus Reduce Systematic Risk In Hotel Reits?, Brigitte Silvia Frutig, Prashant Das

Journal of Hospitality Financial Management

This paper examines how the systematic risk of large commercial real estate owners is associated with geographic diversification. It analyzed time-varying equity betas and geographic exposure of publicly traded pure-play lodging REITs. Contrary to popular expectation, results of this study showed that stock investors perceive smaller risk in geographic focus rather than diversification. Further, regional focus becomes insignificant in reducing the risk if the focus expands beyond two or three regions. The findings were robust to multiple measures of geographic diversification. As such, the study reaffirmed the impact of geographic focus in the context of commercial real estate as a …

Human Capital And Hotel Operating Performance, Nan Hua

Journal of Hospitality Financial Management

Human capital plays an essential role in firm sucess in the hospitality industry (Baum, 2015; Tracey, 2014); however, how the mechanism through which human capital contributes to a hotel's performance remains unclear (Bagri et al., 2010; Domínguez-Falcón et al., 2016; Ooi et al., 2015). By extending Hua et al. (2015) and O’Neill et al. (2008), this study systematically examined the impacts of human capital, proxied by Total Labor Expenses at different lagged time points, on hotel operating performance, while controlling for a comprehensive array of potential confounding variables. This study offers a more holistic view of whether human capital influences …

What Hotel Attributes Matter? Understanding The Price Determinants In The Lodging Industry, Lan Jiang, Marcia H. Taylor

Journal of Hospitality Financial Management

The major purposes of the empirical study are to investigate the price determinants in the lodging industry (i.e., hotel class, hotel operation, location, size, age, and seasonality) and to examine how these price determinants affect financial performance of the hotel. A quantitative method was used in this study, with 6,732 valid observations collected and analyzed. The findings suggested that hotel class, hotel operation, location, size, and seasonality are significant factors determining hotels’ average daily rate (ADR) and revenue per available room (RevPAR). The results have both theoretical and practical contributions. They not only broaden the existing lodging research but can …

Abstracts Of Presentations At The 2019 Annual IAhfme Research Symposium

Journal of Hospitality Financial Management

No abstract provided.

Hotel Industry Performance In 2019-2020, Covid-19 Impact, And The Jhfm Index, Atul Sheel

Journal of Hospitality Financial Management

No abstract provided.

Impact Of Employee Meals On Employee Satisfaction And Hotel Financial Performance: An Experimental Study, Luana Nanu, Cihan Cobanoglu, Ibrahim Hakan Yilmaz, Timucin Dis

Journal of Hospitality Financial Management

It is common for hotel employees to receive several benefits tied to their workplace; in some cases these benefits are in a nonmonetary form. Several hotel companies, in both developing and eveloped countries, offer employee meals as a nonmonetary form of benefits. By using secondary data on employee satisfaction prior to and post staff cafeteria renovation, this study investigated the impact of employee meals on employee satisfaction and hotel financial performance. The findings showed a significant and robust correlation among the quality of the employee meals, employee satisfaction, and financial performance of the resort.

Food And Beverage Staffing Changes In Nevada Resorts After The Great Recession, Toni Repetti, Liheng Zhang

Journal of Hospitality Financial Management

With profit margins averagins 5-7% and labor costs of 30-55% of revenue, restaurant managers need to carefully monitor expenses to maintain these already low profit margins. This study evaluates food and beverage departments within Nevada casinos from 2000 to 2018 to see if managers exhibited expense preference behavior prior to the Great Recession. Three models were tested: number of employees, salaries and wages, and total payroll. Results show that in all three models, there is a significant decrease postrecession versus prerecession, with a decrease of 12.8% in employees, 4.5% in salaries and wages, and 9.1% in total payroll. Only the …

International Association Of Hospitality Financial Management Educators (Iahfme) Academic Member 2019 Total Annual Earnings, Raymond S. Schmidgall

Journal of Hospitality Financial Management

This study uses survey research to determine the 2019 annual earnings of hospitality financial management educators. Forty percent of iAHFME members affiliated with educational institutions responded. Survey results show that for 2019, annual base salaries of iAHFME members ranged from $72,000 to $200,000. The lowest-paid member was an assistant professor and the highest-paid member, a full professor. Many respondents supplemented their base salaries by teaching during summer school or consulting or both. The total annual earnings of iAHFME members ranged from $82,000 to $250,000. Survey results also show that hospitality financial management educators appear to be more highly compensated than …

Are We Keeping Our Cash In Our Hotels?, Agnes L. Defranco, Raymond S. Schmidgall

Journal of Hospitality Financial Management

Cash is often known as the most important asset of any business. Without cash, it is very difficult to sustain a business, let alone to grow it. This study therefore investigated the compilation and usage of the statement of cash flows and the cash budget in hotels. The former is a historical document recording how cash was accumulated and used in the previous accounting period while the latter is a forecast to plan for the use of cash in the future. Other cash management practices, ranging from deposits, cancellations, and penalties to a list of accounts receivable and accounts payable …

The Monitoring Effects Of Debt In The U.S. Restaurant Industry, Lan Jiang, Michael Dalbor

Journal of Hospitality Financial Management

The issuance of debt is a monitoring mechanism. Whether the debt is from a private lender or is in the form of publicly traded bonds, both types of lenders expecct a return on their money (Jensen, 1986). Thus, while finding ways to increase sales is important, the control of expenses is paramount to the success of the firm and to be able to borrow more funds in the future. Using data from 111 restaurant companies is an effective monitoring agent and if it helps firm performance. Results reveal a significant relationship between a restaurant firm's expense ratio and its short-term, …

Cash In Hotels And Clubs: 2020 And Beyond, Agnes L. Defranco, Raymond S. Schmidgall

Journal of Hospitality Financial Management

Cash is the lifeblood of any business. Even if a business has cash but is not properly managed, the operation will suffer. One hundred and sixty clubs and hotels shared their accounts receivable and accounts payable practices. In addition, for the users and usage of the statement of cash flows and cash budgets, how often such statements are prepared are documented as points of comparison. It is found that both clubs and hotels view the cash budget more favorably than the statement of cash flows, and hotels are more vigilant, employing more practices to collect their accounts receivable. Managing the …

Two, Four, Six, Eight, How Many Ingredients Do You Appreciate? An Exploration Of Cocktail Ingredients [Recorded Presentation], Hannah Daab

Steeplechase: An ORCA Student Journal

Two studies examine the effect of cocktail menu description on consumer order intention. Findings show that consumers are more likely to order a cocktail with a greater number of ingredients and the effect is driven by perceptions of beverage complexity and premiumness.

Customer Satisfaction Index Of Singapore 2019: Q3 Results, Institute Of Service Excellence, Smu

Research Collection Institute of Service Excellence

The Customer Satisfaction Index of Singapore (CSISG) computes customer satisfaction scores at the national, sector, sub-sector, and company levels. The CSISG serves as a quantitative benchmark of the quality of goods and services produced by the Singapore economy over time and across countries. This is the CSISG’s 13th year of measurement.

Two, Four, Six, Eight, How Many Ingredients Do You Appreciate? An Exploration Of Cocktail Ingredients, Hannah Daab

Scholars Week

Two studies examine the effect of cocktail menu description on consumer order intention. Findings show that consumers are more likely to order a cocktail with a greater number of ingredients and the effect is driven by perceptions of beverage complexity and premiumness.

The Wine Stone Inn, Kendall N. Doud

Agricultural Education and Communication

The Wine Stone Inn is a new 12-room boutique hotel currently being built in Old Town Orcutt, California. The hotel is seeking a grand opening that will attract vintner business, agribusiness, and agricultural vendors for the hotel, and help promote local wineries and breweries in the Santa Maria Valley. Orcutt is a growing township, which is becoming very attractive to visitors because of the walking distance to restaurants, local pubs, wine venues, and other businesses that project growth in the future. Agribusiness makes up a small percentage of the corporate market and agritourism is a growing segment in this area. …

2019 School Of Culinary Arts & Food Technology - Spring Newsletter, James Peter Murphy

Other resources

The School of Culinary Arts & Food Technology - Spring Newsletter captured the many events, research, awards, significant contributions and special activities which the students and staff members of the school have successfully completed leading up to and during the Spring period of 2019.

Comparing Millennial Visitors To Wineries And Breweries In British Columbia: An Examination Of Social Involvement, Social Return, And Self-Image Congruency, Jarrett R. Bachman, John S. Hull, Sanja Haecker

TTRA Canada 2019 Conference

No abstract provided.