Accounting and Finance for the International Hospitality Industry

1st Edition

Editors: Peter Harris
Paperback ISBN: 9780750635868
Imprint: Butterworth-Heinemann
Published Date: 14th August 1997
Page Count: 352


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Top experts specializing in hospitality management have contributed articles to this new collection which explains recent developments in accounting and finance. The material is drawn from a combination of fieldwork and practical experience.

The managerial emphasis means that the content is fully relevant internationally and not constrained by the legal framework of different countries. Accounting and Finance provides an overview of: analysis and evaluation of performance planning methods and techniques financial information and control financial management.
It also shows how operational analysis can be used as a management tool to improve performance. Techniques for predicting the financial success or failure of hotels are suggested. Research into hotel companies in the US and Europe demonstrates key performance indicators used by hotel managers and financial executives.

Other contributors explore the interface between accounting and marketing and human resource management and there is thorough coverage of financial strategy formulation. Readers will also find helpful the section on statistics in the analysis and prediction of cost behaviour in hotels.

Contributors: Raymond Schmidgall (Michigan State University, USA); Debra J. Adams (Bournemouth University, UK); Professor Elisa S. Moncarz (Florida International University, USA); Richard N. Kron (Kron Hospitality Consulting, USA); Angela Maher (Oxford Brookes University, UK); Peter J. Harris (Oxford Brookes University, UK); Geoff S. Parkinson (BDO Stoy Hayward Chartered Accountants, UK); Paul Fitz-John (Bournemouth University, UK); Paul Collier (University of Exeter, UK); Professor Alan Gregory (University of Glasgow, UK); Tracy A. Jones (Cheltenham and Gloucester College of Higher Education, UK); Jacqueline Brander Brown (The Manchester Metropolita

Key Features

Endorsed by the British Association of Hotel Accountants Articles contributed by the world's top experts in the field of hospitality management Edited by leading academic in accounting and finance for hospitality


Undergraduate and postgraduate hospitality students; BAHA members; accountants in hospitality organizations.

Table of Contents

Preface; List of contributors; Part One - Financial Analysis; Performance measures used in hotel companies; Methods for predicting financial failure in the hotel industry; Operational analysis in hotels; Labour recruitment and turnover costs in hotels; Part Two - Financial Planning; Statistical cost estimation and prediction in hotels; Risk assessment in capital investment; Financial strategy formulation; The practice of management accounting in hotel groups; Part Three - Financial Information and Control; Identifying managers' information needs in hotel companies; Management control in the hospitality industry: behavioural implications; The use of accounting information in hotel marketing decisions; Part Four - Financial Management; The hotel financial controller: a member of the management team; Financial management in an international environment: Hotel 2000 NV - a case study; Financial management implications of hotel management contracts: a UK perspective; The hotel management contract: lessons from the North American experience; Hotel profitability - critical success factors; Index.


No. of pages:
© Butterworth-Heinemann 1998
Paperback ISBN:

About the Editor

Peter Harris

Affiliations and Expertise

Professor of Accounting, School of Hotel and Restaurant Management, Oxford Brookes University, UK


'The British Association of Hotel Accountants recommends Accounting and Finance for the International Hospitality Industry to all accounting professionals.' David Cook, Chairman of BAHA `This collection of articles...represents a major step forward for applied accounting and finance in a service sector setting.' Service Industries Journal, July 1996