Download or read book Aspects of Hotel Investments written by Florian Wandruszka and published by . This book was released on 2013 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thesis (M.A.) from the year 2012 in the subject Business economics - Investment and Finance, grade: Gut, University of Vienna, language: English, abstract: Touristic ventures are facing the same questions like most business ventures, especially the one of how to attract outside capital. To fulfil this task, a certain amount of information has to be provided to potential investors. Whereas start-ups use business plans for this matter, touristic ventures make use of so-called feasibility studies, which, because of the capital intensity of such ventures, can be determined even before the need for a business plan arises. This thesis will address to the question what type of information of these feasibility studies delivering which kind of message is crucial for what type of decision maker and why. To set the ground for answering this, the hotel- and travel-industry as the sub-ordinate economic sector will be outlined, regarding its historical development, its macroeconomic significance as well as the scientific attention towards it. In a similar manner, the hotel investment-market as the sector in question will be portrayed, yet focusing on the main actors in the market. Since those actors can be seen as the object of research, the second part will above all address their characteristics and their respective investment approach. To get a closer look at the hotel as the investment itself too, a concise outline of corporate specifics, like accounting and contract design, will also be provided. Understanding those corporate specifics is incremental for the comprehension of a feasibility study, whose basic structure is then depicted. Knowing what kind of information is available to the investors, the empirical part concentrates on the question of how they derive their decision, based on the information and again, which part of information is crucial to whom. The sample of the study was chosen in a way to reflect the entire variety of dif-ferent investor types active in the
Download or read book Valuation of Hotels for Investors written by David Harper and published by Taylor & Francis. This book was released on 2013-11-26 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides detailed, up-to-date knowledge that will help property professionals become successful in the hotel market. The book includes a range of valuation practices and shows the reader the most effective way to read, manage and work their way through this highly competitive market. The author focuses on current methodology and practice within the hotel market, the market trends and legalities which will change or amplify those practices, and further sets out property investment options with real examples.
Download or read book Hotel Investments written by Lori E. Raleigh and published by Educational Institute of American Hotel & Motel Association. This book was released on 2012 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a one-of-a-kind collaboration of hospitality industry leaders who share their hotel investment experience and expertise with readers. Chapters cover a myriad of timely hotel investment topics including key industry trends, establishing an investment program, managing the investment, e-commerce, revenue management, best practices in food and beverage profitability, key legal issues, and sustainability. This is an excellent resource for hotel investors and lenders, as well as asset, property, and general managers of hotels.
Download or read book Hotel Investments written by Lori E. Raleigh and published by Educational Institute of American Hotel & Motel Association. This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a view of the lodging investment and management industry and its lenders, investor/owners, hotel operating company executives and managers, brokers, and consultants. After an overview of the industry, chapters examine the hotel investment climate, lodging REITs, asset management, and franchising in the hotel industry. Current market analysis techniques and hotel valuation techniques are described and explained, and investment analysis tools are discussed. Other subjects include marketing strategies, sales and revenue management, managing technology, and special legal considerations. Annotation copyrighted by Book News, Inc., Portland, OR
Download or read book Hotel Investments written by Stephen Rushmore and published by . This book was released on 1992 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Valuation of Hotels for Investors written by David Harper and published by Taylor & Francis. This book was released on 2013-11-26 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides detailed, up-to-date knowledge that will help property professionals become successful in the hotel market. The book includes a range of valuation practices and shows the reader the most effective way to read, manage and work their way through this highly competitive market. The author focuses on current methodology and practice within the hotel market, the market trends and legalities which will change or amplify those practices, and further sets out property investment options with real examples.
Download or read book PERFORMANCE INFLATION HEDGIN written by 吳美玲 and published by Open Dissertation Press. This book was released on 2017-01-27 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation, "The Performance and Inflation-hedging Characteristics of Hotel Investment in Hong Kong" by 吳美玲, Mei-ling, Ng, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Abstract of the thesis entitled The Performance and Inflation-Hedging Characteristics of Hotel Investment in Hong Kong Submitted by Ng Mei Ling for the degree of Doctor of Philosophy at the University of Hong Kong in March 2003 Hotels are income-producing, investment properties that are rarely traded on the market. With the limited transaction data available in the hotel sector, appraisers generally find it difficult to produce a reliable hotel asset price index, which is essential for assessing the performance of direct hotel investment. The most common valuation techniques used by appraisers for hotel valuation is the income capitalization approach. Recently, there have been various valuation-based hotel asset price indices available in the U.S. However, the time series of these indices are too short to reveal the performance of hotel investments. The reliability of these indices is also questionable due to the lack of hotel transaction data. Neither is this type of index available in Hong Kong. One of the objectives of this dissertation is to construct a hotel asset price index which is reliable and sufficiently long for the assessment of the performance of hotel investments in Hong Kong. Previous studies suggest that there are linkages between direct and indirect property investment. This provides the basis for the method of hotel asset price index construction adopted in this study. This method involves extracting information from indirect hotel investment and other publicly available financial data to construct a hotel asset price index. In very simple terms, the hotel asset price is constructed by stripping off the stock market effect from the de-geared indirect hotel investment returns. The reliability of this index is tested by examining whether it reflects changes in hotel market fundamentals. The results of this study suggest that the hotel market demand and supply variables are found to have a significant impact on the Hotel Asset Price Index, which provides evidence for the reliability of the index in reflecting the performance of hotel investments. Analysis based on the Hotel Asset Price Index constructed in this study suggests that during the period of observation (1980-2000), direct hotel investment had the lowest average return, but a relatively high volatility amongst all property types. The risk-adjusted return is the lowest among direct property and stock. However, returns on direct hotel investment show very little correlation with other property returns and returns on the stock market. This means that there is a potential diversification benefit by including direct hotel investment in the portfolio. Hotels are often considered an effective inflation-hedging investment among all property assets as room rates can be adjusted on a daily basis. Since hotel leases are very short (typically a few days) compared with other property types, a hotel investment is considered to be especially good for hedging against unexpected inflation. On the other hand, hotel assets are illiquid, which makes it difficult for hotel asset prices to respond to changes in inflation expectations. Fama and Schwert's framework is employed, together with co-integration tests and error correction models, to investigate the ability of direct hotel investment, as well as other property investments, to hedge against expected and unexpected inflation in both short and long
Download or read book Hotel Investments written by and published by . This book was released on 2000 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hotel Asset Management written by Rich Musgrove and published by . This book was released on 2016 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hotel Investments written by Lori E. Raleigh and published by Educational Institute. This book was released on 2013-03-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Research on Holistic Optimization Techniques in the Hospitality Tourism and Travel Industry written by Vasant, Pandian and published by IGI Global. This book was released on 2016-10-31 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The application of holistic optimization methods in the tourism, travel, and hospitality industry has improved customer service and business strategies within the field. By utilizing new technologies and optimization techniques, it is becoming easier to troubleshoot problematic areas within the travel industry. The Handbook of Research on Holistic Optimization Techniques in the Hospitality, Tourism, and Travel Industry features innovative technologies being utilized in the management of hotels and tourist attractions. Highlighting empirical research on the optimization of the travel and hospitality industry through the use of algorithms and information technology, this book is a critical reference source for managers, decision makers, executives, tourists, agents, researchers, economists, and hotel staff members.
Download or read book Hotel Accommodation Management written by Roy C. Wood and published by Routledge. This book was released on 2017-10-10 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers students a uniquely concise, accessible and comprehensive introduction to hotel accommodation management that covers the range of managerial subjects and disciplines in the sector. The book focuses on enduring aspects of the accommodation management function (front office management, housekeeping, revenue management); the changing context of hotel accommodation provision (the move to ‘asset light’, the supply of accommodation, trends in hotel investment and asset management, the challenges engendered by social media and the collaborative economy to the hotel market); and the role of accommodation in additional and integrated facilities and markets (spas, resorts, MICE markets). International case studies illustrating examples of practice in the industry are integrated throughout, along with study questions and other features to aid understanding and problem solving. This is essential reading for all hospitality and hotel management students.
Download or read book Sustainability in the Hospitality Industry 2nd Ed written by Willy Legrand and published by Routledge. This book was released on 2013-02-11 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainability is one of the single most important global issues facing the world. A clear understanding of the issues surrounding climate change, global warming, air and water pollution, ozone depletion, deforestation, the loss of biodiversity and global poverty is essential for every future manager in the hospitality industry. Present and future hospitality executives need to know how sustainable management systems can be integrated into their businesses while maintaining and hopefully improving the bottom line. Sustainability in the Hospitality Industry, second edition, is the only book available to introduce the students to economic, environmental and social sustainable issues specifically facing the industry as well as exploring ideas, solutions, and strategies of how to manage operations in a sustainable way. Since the first edition of this book there have been many important developments in this field and this second edition has been updated in the following ways: updated content to reflect recent issues and trends including hotel energy solutions and green hotel design two new chapters on 'Sustainable Food' and 'Social Entrepreneurship and Social Value' updated international case studies throughout to explore key issues and show real life operational responses to sustainability within the hospitality industry. New case studies on growth hotel development markets, Asia and the Middle East new practical exercises throughout to apply your knowledge to real-life sustainability scenarios. This accessible and comprehensive account of Sustainability in the Hospitality Industry is essential reading for all students and future managers.
Download or read book Hotels and Resorts written by David Harper and published by Routledge. This book was released on 2016-10-26 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hotels and Resorts: An investor's guide presents a comprehensive analysis of how hotels, golf courses, spas serviced apartments, gyms and health clubs and resorts are developed, operate and are valued. Drawing on over 18 years’ experience in the leisure property industry, David Harper provides invaluable advice on how to buy, develop and sell such properties. Working through the required due diligence process for purchases, including how to identify a "good buy", through the "route map" for a successful development and ending with how to ensure you maximise your returns when selling the asset, this book covers the whole life-cycle of leisure property ownership. Examples of valuations, development issues and sales processes are taken from the USA, UK, France, Nigeria, Kenya, Australia, Hong Kong, Singapore and Brazil provide in depth analysis on the similarities and differences in approach to hotels and resorts in various parts of the world. This book provides invaluable guidance to international investors, developers, asset managers and students in related subject areas.
Download or read book The Performance and Inflation hedging Characteristics of Hotel Investment in Hong Kong written by Mei-ling Ng and published by . This book was released on 2003 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hotel Investments and Developments written by Allan Degreef and published by LAP Lambert Academic Publishing. This book was released on 2012-04 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: The assessment of the decision-making factors is a research committed to shape our understanding of hotel investment and development processes. This volume therefore describes a comprehensive research so not only initiated but also non-initiated ones will enjoy a great insight in this world of bills and bricks, characterised by a myriad of information. Due to this abundance of information many topics have been touched upon, so readers have a correct all-embracing framework to apply their personal situation upon. The report discusses and analyses the hotel industry s development decision-makers in an attempt to advance knowledge of the factors they assess during hotel development planning phases. These factors and criteria have been thoroughly examined in order to gauge their relative importance in hotel development decision-making and to determine the level of manageability destinations hold to adjust and modify that factor if necessitated.
Download or read book Hotel Market Analysis and Valuation written by Stephen Rushmore and published by . This book was released on 2012 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt:
