Financial Management for the Hospitality Industry
For courses in Beginning and Advanced Hospitality Finance and Managerial Finance. Financial Management for the Hospitality Industry, Second Edition, presents financial concepts and explains how they apply to specific operations within the hospitality industry. Each chapter contains material specific to the industry-from financial statements that follow the lodging industry standards to financial ratios used to determine paid occupancy percentage, average room rate or number of guests per room. This edition features two new chapters on entrepreneurial finance and asset management and Excel examples integrated throughout. Discussing core financial concepts from a managerial perspective, the text contains answers to many of the financial questions confronting hospitality managers today.