Hospitality Financial Management
October 2006, ©2007
1 Finance and the Hospitality Industry 1
2 Financial Reporting 15
Financial Reporting 17
3 Analyzing Financial Statements 53
Analysis of Financial Statements 56
4 Managing Working Capital and Controlling Cash 91
Managing Working Capital and Controlling Cash 94
5 Growing the Business 112
The Need for Growth 115
Growth Strategies 120
6 Financing Growth 134
The Need for Capital 138
Hotel Financing Trends and Schemes 158
7 The Time Value of Money 177
Concept of Time Value of Money 179
8 Investment Analysis 221
Investment Analysis 223
9 Hospitality Industry Applications of Time Value of Money Concepts and Skills 247
Time Value of Money Applications 250
10 The Investment Package 286
The Need for an Investment Package 289
11 Crafting and Negotiating the Deal 315
The New Business Venture 318
Negotiating Loans with Lenders 325
Negotiating the Equity Investment 331
Negotiating Skills 333
12 Tying It All Together 345
Hospitality Industry Financial Challenges 348
Financial Reporting 349
Analysis of Financial Statements and Management Reports 350
Managing Working Capital 351
Growing the Business 352
Financing Growth 356
Investment Analysis 357
The Investment Package 360
Crafting and Negotiating the Deal 362
Thomas Lattin is a CPA who has earned partner status with three international hospitality accounting/consulting firms and served as president of a national hotel management company as well as president of a publicly traded hotel real estate investment trust. He is currently the Sir Rocco Forte Executive in Residence at the Conrad N. Hilton College at the University of Houston and Managing Director of Lattin & Associates, a management consulting firm.
- Includes Feature Stories—brief histories of famous hospitality leaders highlighting how they have used financial management skills to attain success for their companies and significant financial rewards for themselves
- Provides Learning Outcomes— a summary of key topics covered in each chapter
- Features Finance in Action scenarios that guide the reader towards applying the concepts, skills, and techniques presented in the chapter to real-world situations. A step-by-step solution is provided for each problem to walk the reader through the necessary financial calculations.
- Includes boxed inserts which emphasize the relevance of the book by linking financial concepts to fun facts associated with situations students either have or will encounter in their everyday lives
- Features case studies that reinforce the materials presented and enable students to practice their analytic and problem solving skills
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