nach oben

Erschienen in:

2021 | OriginalPaper | Buchkapitel

4. Hotels

verfasst von : Harold L. Vogel

Erschienen in: Travel Industry Economics

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This chapter reviews the history, economics, terminology, accounting, and operating aspects of lodging and hospitality providers. Key performance metrics that are essential to evaluating competitive micro- and macro- economic and financial conditions are explained and applied. Valuation methods and the relationships to real estate, labor costs, and construction plans, and interest rates are also covered.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Water and Wheels

Nächstes Kapitel Casinos

Alsever, J. (2006). “Don’t Want to Leave the Hotel? Buy the Room,” New York Times, January 1.

Andrew, W. P., and Schmidgall, R. S. (1993). Financial Management for the Hospitality Industry. East Lansing, MI: Educational Institute of the American Hotel & Motel Association.

Angwin, J., and Rich, M. (2003). “Big Hotel Chains Are Striking Back Against Web Sites,” Wall Street Journal,” March 14.

Audi, T. (2007). “Loyalty Points That Buy a Night With Travolta,” Wall Street Journal, December 26.

Bary, A. (2003). “No Room for Error,” Barron’s, November 24.

Benner, K. (2017). “Airbnb Tries to Behave More Like a Hotel,” New York Times, June 17.

Bernstein, F. A. (2008). “A Flexible Stay for a Hotel Franchisee,” New York Times, June 8.

Berzon, A., and Hudson, K. (2011). “Marriott Unloads Share Business,” Wall Street Journal, February 15.

Binkley, C. (2004). “Timeshares’ Little Secret,” Wall Street Journal, May 12.

Block, R. L. (1998). Investing in REITS. Princeton (NJ): Bloomberg Press.

Brooker, K. (2016). “Airbnb’s Ambitious Second Act Will Take it Way Beyond Couch-Surfing,” Vanity Fair, November.

Brown, E. (2001). “Heartbreak Hotel?,” Fortune, 144(11)(November 26).

Carney, B. (2008). “Cashing In on London Hotels,” Wall Street Journal, March 5.

Carrns, A. (2019). “Marriott and Hilton Sued Over ‘Resort Fees,’ Long a Bane for Travelers,” New York Times, August 23.

Clark, Patrick. (2018). “Points-Obsessed Travelers Are Terrified of Losing Perks,” Bloomberg BusinessWeek, August 1.

Corkery, M. (2006). “New Twist in Vacation Homes,” Wall Street Journal, February 25.

Corkery, M, Lin, S., and Simon, R. (2008). “Rooms With a Bubble View,” Wall Street Journal, April.

Creswell, J. (2020). “Empty Rooms, and Pockets, Plague Hotel Franchisees,” New York Times, March 26.

Davila, E. (2011). “Employment in Leisure and Hospitality Departs from Historical Trends during 2007–09 Recession,” Monthly Labor Review, 134(4)(April).

deRoos, J., and Rushmore, S. (2002). “Hotel Valuation Techniques” in Hotel Investments: Issues & Perspectives by Raleigh, L.E. and Roginsky, R. J. (eds).

Edleson, H. (2013). “Fewer, Bigger Travel Sites,” New York Times, April 30.

Eisen, B. (2020). “Hotels Find Little Mortgage Relief,” Wall Street Journal, June 5.

Enz, C. A. (2013). “Strategic Price Positioning for Revenue Management: The Effects of Relative Price Position and Fluctuation on Performance.” http://scholarship.sha.cornell.edu/articles/611.

Enz, C.A., Canina, L., and van der Rest, J-P. (2015). “Competitive Hotel Pricing in Europe: An Exploration of Strategic Positioning.” Cornell Hospitality Reports, 15(20).

Everson, D. (2007). “Destination Clubs Try to Shore Up Their Image,” Wall Street Journal, September 13.

Farronato, C., and Fradkin, A. (2018). “The Welfare Effects of Peer Entry in the Accommodation Market: the Case of Airbnb,” NBER, Working Paper no. 24361, February.

Glusac, E. (2017). “meet Your New Data-Driven Travel Agent,” New York Times, July 16.

Gregor, A. (2006). “Luxury Hotels Breaking a Million-Dollar Barrier,” New York Times, October 29.

Hanson, B. (2000). “Price Elasticity of Lodging Demand,” PriceWaterhouseCoopers, January 20.

Hayes, D. K., and Ninemeier, J. D. (2007). Hotel Operations Management, 2nd ed. Upper Saddle River, NJ: Prentice-Hall.

Hoffman, L., and Rubin, R. (2015). “Hilton to Spin Off Hotel Properties Into Real-Estate Investment Trust,” Wall Street Journal, December 17.

Hudson, K. (2010). “Holiday Inn spiffs Up, Recasts Itself,” Wall Street Journal, December 9.

Jeffrey, D., and Barden, R. R. D. (2001). “Multivariate Models of Hotel Occupancy Performance and Their Implications for Hotel Marketing,” International Journal of Tourism Research, 31(1).

Johnson, A., and Corkery, M. (2006). “Vacation Club’s Woes Are Bad Trip for Rich,” Wall Street Journal, August 5.

Karmin, C. (2015). “Hotel Industry Assails Expedia-Orbitz Deal,” Wall Street Journal, August 6.

Karmin, C., and Fung, E. (2015). “New York’s Baccarat Hotel Fetches Record Valuation from Chinese Buyer,” Wall Street Journal, February 6.

Kaufman, T. J., Lashley, C., and Schreier, L. A. (2009). Timeshare Management: The Key Issues for Hospitality Managers, Oxford, UK: Butterworth-Heinemann (Elsevier).

Kirkham, C. (2017a). “‘Resort’ Fees Are No Longer Only for Resorts,” Wall Street Journal, September 25.

Kirkham, C. (2017b). “For Hotels, There’ No Room Left for Online Travel Agencies,” Wall Street Journal, May 29.

Kusisto, L. (2017). “Coming to Your Block: Pop-Up Hotels,” Wall Street Journal, July 12.

Levere, J. L (2019). “Microhotels Skimp on Size but Not Style,” New York Times, July 30.

Levere, J. L (2010). “Hotel Industry Is on Brink of Major Expansion,” New York Times, January 18.

Lewis, G., and Zervas, G. (2016). “The Welfare Impact of Consumer Reviews: A Case Study of the Hotel Industry,” Microsoft Research and NBER.

Lundberg, D. E. (1994). The Hotel and Restaurant Business, 6th ed. New York: John Wiley & Sons.

Major, L. (2017). “Top 6 Hotel Success Factors,” HVS, August 28.

McCartney, S. (2020). “A Backlash Brews Against Fees,” Wall Street Journal, January 30.

McCartney, S. (2015). “Best Hotel Chains for Rewards,” Wall Street Journal, October 22.

McCracken, J., and Adamy, J. (2008). “Restaurants Feel Sting of Surgin Costs, Debt,” Wall Street Journal, April 24.

McGinty, J. C. (2016). “Online Hotel Reviews Affect Your Bottom Line,” Wall Street Journal, November 19.

Miller, L. C. (1995). “Underwriting the Investment,” in Raleigh and Roginsky (1995).

Morgenson, G. (2016). “The Timeshare Hard Sell Comes Roaring Back,” New York Times, January 24.

Morgenson, G. (2003). “Financial Disclosure, The Barry Diller Way,” New York Times, August 10.

Morrison, R. (2021). “World’s First Space Hotel to Begin Construction in Low Earth Orbit in 2025,” Dailymail.co.uk, March 1.

Morrissey, J. (2000). “As Second Homes, Condo-Hotels Are Inn,” Wall Street Journal, December 11.

Moyer, L. (2017). “Hotels, Feeling the Pinch of Airbnb, Promote Local Experiences,” New York Times, May 29.

Murthy, B., and Dev, C. S. (1993). “Average Daily Rate,” in Kahn, Olsen, and Var (1993).

Nicas, J. (2011). “Google Roils Travel,” Wall Street Journal, December 27.

O’Neill, J. W., and Mattila, A. S. (2006). “Strategic Hotel Development and Positioning,” Cornell Hotel and Restaurant Administration Quarterly, 47(2).

Parsa, H. G., Self, J. T., Njite, D., and King, T. (2005). “Why Restaurants Fail,” Cornell Hotel and Restaurant Administration Quarterly 46(3):304–322.

Powers, T., and Barrows, C. W. (2003). Introduction to Management in the Hospitality Industry, 7th ed. New York: John Wiley & Sons.

Pristin, T. (2004). “A Room of Your Own (When the Hotel Isn’t Renting It),” New York Times, October 27.

Salzman, A. (2013). “This Means War!,” Barron’s, April 15.

Schmidgall, R. S., Hayes, D. K., and Ninemeier, J. D. (2002). Restaurant Financial Basics. Hoboken, NJ: John Wiley & Sons.

Schoenberger, C. R. (2017). “Online Reviews Help Independent Hotels Steal Business From Chains,” Wall Street Journal, May 1.

Segal, D. (2009). “Pillow Fights at the Four Seasons,” New York Times, June 28.

Smith, R. A. (2004). “Condotels Let Investors Mix Business and Pleasure,” Wall Street Journal, September 1.

Smith, R. A. (2003). “Time-shares for the Jet Set,” Wall Street Journal, December 3.

Smith, R. A. (2001a). “Will a New Forecast Measure Make Evaluating REITs Easier?,” Wall Street Journal, December 19.

Smith, R. A. (2001b). “REIT Wrangle: A Debate Over Earnings Puts Major Wall Street Analysts at Odds,” Wall Street Journal, August 29.

Stabiner, K. (2016). “Is New York Too Expensive for Restaurateurs?” New York Times, October 26.

Sullivan, P. (2012). “Destination Clubs Introduce Budget Versions, Relatively Speaking,” New York Times, February 18.

Titman, S., Tompaidis, S., and Tsyplakov, S. (2005). “Determinants of Credit Spreads in Commercial Mortgages,” Real Estate Economics, 33(4)(Winter).

Vallen, G. K., and Vallen, J. J. (1996),.5th ed. Check-In Check Out. Chicago: Irwin. [10th ed., 2018, Saddle Brook, NJ: Pearson.].

Vanhove, N. (2011).The Economics of Tourism Destinations. second ed., London: Elsevier.CrossRef

Vanocur, B. (1999). “None Dare Call It Earnings: REIT Industry Again Looks at FFO, and Arguments Ensue,” Barron’s, June 7.

Walker, J. R. and Lundberg, D. E. (1999, 2014). The Restaurant: From Concept to Operation, 3rd and 7th eds. New York: John Wiley & Sons.

White, M. C. (2019). “Saturating the Hotel Market, Brand by Brand,” New York Times, August 27.

Zipkin, A. (2016). “At Microhotels, the Price Is Right, Space Is Tight,” New York Times, March 22.

Abrams, C. (2019). “Hotel Upstart Takes Aim at America After Shaking Up India,” Wall Street Journal, June 24.

Audi, T. (2008). “Ailing Sheraton Shoots For a Room Upgrade,” Wall Street Journal, March 25.

Benner, K. (2017). “Inside the Hotel Industry’s Plan to Combat Airbnb,” New York Times, April 17.

___. (2016). “New Orleans Becomes New Model for Airbnb to Work With Cities,” New York Times, December 7.

Berzon, A. (2010a). “Ritz Hotels Bow to Slump, Adding a Loyalty Program,” Wall Street Journal, September 14.

___. (2010b). “Small Hotels Sign On with Marriott,” Wall Street Journal, January 25.

Binkley, C. (2002a). “Putting on the Ritz Means Less As It Happens More Frequently,” Wall Street Journal, April 8.

___. (2002b). “Marriott’s Growth Hasn’t Been Without Risk,” Wall Street Journal, February 13.

___. (2001). “U.S. Hotels Struggle to Cope with Drop in Guests Since Attack,” Wall Street Journal, September 28.

___. (1999). “Marriott Faces Outcry from 1980s Buyers of Hotel Partnership,” Wall Street Journal, January 13.

Brannes, K, and Nordstrom, J. (2001). “The Number of Occupied Hotel Rooms: A Time Series Model that Accounts for Constrained Capacity and Prices,”. Umea Economic Studies Working Paper No. 559, Available at SSRN: https://ssrn.com/abstract=270801 or https://doi.org/10.2139/ssrn.270801

Brooker, K. (2016). “Airbnb’s Ambitious Second Act Will Take it Way Beyond Couch-Surfing,” Vanity Fair, November.

Brotherton, B. (1999). The Handbook of Contemporary Hospitality Management Research. Chichester, UK: John Wiley & Sons.

Browning, L. (2002). “Marriott Strategy Brings Savings and Lawsuits,” New York Times, November 24.

Chittum, R. (2007). “Living Life Like Eloise: More Hotels Add Condos,” Wall Street Journal, July 25.

___. (2006). “Big City, Smaller Rooms: Suburban Hotel Chains Go Urban,” Wall Street Journal, December 27.

Chow, J. (2012). “Hoteliers Brave Room Glut in China,” Wall Street Journal, October 18.

Cohan, W. D. (2014). “Blackstone’s $26 Billion Hilton Deal: The Best Leveraged Buyout Ever,” Bloomberg Businessweek, September 11.

Dittmer, P. R. and Griffin, G. C. (1999). Principles of Food, Beverage, and Labor Cost for Hotels and Restaurants, 6th ed. New York: John Wiley & Sons.

Doherty, J. (2000). “Look Out, Priceline,” Barron’s, March 20.

Evans, R. (2001). “Le Motel 6, C’est Moi,” Barron’s, April 30.

Gallagher, L. (2017). The Airbnb Story. New York: Houghton Mifflin Harcourt.

Garrigan, R. T., and Parsons, J. F. C., eds., (1997). Real Estate Investment Trusts: Structure, Analysis, and Strategy. New York: McGraw-Hill.

Glater, J. D. (2009). “Luxe Hotels in a Battle for Control,” New York Times, May 25.

Glusac, E. (2020). “In a Changed World for Travel, What does Airbnb’s future Hold?,” New York Times, September 28.

Goel, N., and Singh, K. D. (2020). “India’s Oyo May Become a Black Eye for Softbank,” New York Times, January 3.

Goode, E. (2016). “At Energy-Minded U.S. Hotels, They Turn the Lights Off for You,” New York Times, May 10.

Haddon, H. (2020), “Restaurant Chains Feast, While Local Eateries Fast, Wall Street Journal, October 10.

Hoover, G. (2020). “The Non-Profit Where the World Sleeps: Best Western, available at: https://americanbusinesshistory.org/the-non-profit-where-the-world-sleeps-best-western/

Hudson, K. (2012a). “Subsidized Hotels: Boon or Boondoggle?,” Wall Street Journal, December 26.

___. (2012b). “Check In to Work Out,” Wall Street Journal, February 28.

___. (2009). “Hotels Deliver Some ‘Jingle Mail’,” Wall Street Journal, August 15.

Ives, M. (2013). “China Is Fertile Ground for Crop of Luxury Hotels,” New York Times, June 12.

Karmin, C. (2014). “Hotel Deal Offers Peek Into a Boom,” Wall Street Journal, February 12.

Keohane, J. (2008). “Heartbreak Hotels,” Condé Nast Portfolio, December.

Knowlton, C. (2020). Bubble in the Sun: The Florida Boom of the 1920s and How It Brought On the Great Depression. New York: Simon & Schuster.

Levere, J. L. (2011). “The Rush to Boutique,” New York Times, April 5.

McCartney, S. (2019). “The Rise of Baffling Hotel Fees,” Wall Street Journal, January 10.

___. (2018). “Turbulence at Marriott Rewards,” Wall Streeet Journal, November 29.

___. (2017). “The Best and Worst Hotels for Cashing In Rewards,” Wall Street Journal, October 5.

___. (2011). “Hotels’ Discount Rates Can Cost You Plenty,” Wall Street Journal, June 30.

McDowell, E. (2000). “A Few Weeks to Call Your Own,” New York Times, January 29.

___. (1995). “His Goal: No Room at the Inns,” New York Times, November 23.

McGroarty, P, and Berzon, A. (2012). “Hoteliers Fill a Gap: Africa,” Wall Street Journal, September 19.

McTague, J. (1999). “Plenty of Room for Growth,” Barron’s, September 27.

Medlik, S., and Ingram, H. (2000). The Business of Hotels, 4th ed. Oxford, UK: Butterworth- Heinemann.

Morrissey, J. (2010). “After a Rough Night, Hotel Investors Are Waking Up,” New York Times, December 5.

O’Fallon, M. J., and Rutherford, D. G. (2011). Hotel Management and Operations, 5th ed. Hoboken, NJ: John Wiley & Sons.

Orwall, B., Rundle, R. L., and Rose, F. (1997). “Hilton and ITT Took Different Paths to This Confrontation,” Wall Street Journal, January 29.

Petersen, A. (2011a). “When Home Is Where the Hotel Is,” Wall Street Journal, November 30.

___. (2011b). “When 12,000 Guests Spend the Night,” Wall Street Journal, September 22.

Popper, N. (2010). “Hotel Wars: Drama and Intrigue Behind the Hospitality Trade,” Los Angeles Times, June 6.

Putzier, K. (2021). “Hotel Sellers Finance Lodging Deals,” Wall Street Journal, February 24.

Raza, I. (2004). Heads in Beds: Hospitality and Tourism Marketing. New York: Prentice Hall.

Roach, J. C. (2018). “How Airbnb Has Affected the Hotel Industry,” Monthly Labor Review, May.

Rutherford, D. G., ed. (1995). Hotel Management and Operations, 2nd ed. New York: John Wiley & Sons.

Sharkey, J. (2013). “A Cherished Amenity Is Likely to Stay at High-End Hotels,” New York Times, June 11, 2013.

Solomon, M. (2016). The Heart of Hospitality: Great Hotel and Restaurant Leaders Share Their Secrets. New York: Select Books.

Stellin, S. (2010). “From Hotel Rivals to Allies: Chains and Independents Hope to Gain by Teaming Up,” New York Times, June 15.

Sturman, M. C., Corgel, J. B., and Verma, R. (2011). The Cornell School of Hotel Administration on Hospitality: Cutting Edge Thinking and Practice. Hoboken, NJ: John Wiley & Sons.

Van Atta, D. (2019). Bill Marriott: Success Is Never Final. Salt Lake City: Shadow Mountain.

Weed, J. (2020). “A Time for Hotels to Reinvent Themselves,” New York Times, July 21.

Weed, J. (2013).“By-the-Hour Microstays Add to Big Hotels’ Bottom Line,” New York Times, December 24.

White, M. C. (2014). “Hotels Race to Attract Superrich Clientele,” New York Times, January 21.

Wood, R. C., ed. (2013). Key Concepts in Hospitality Management. London and Thousand Oaks, CA: SAGE Publications.

Titel: Hotels
verfasst von: Harold L. Vogel
Verlag: Springer International Publishing
Buch: Travel Industry Economics
Print ISBN: 978-3-030-63350-9

Electronic ISBN: 978-3-030-63351-6

Copyright-Jahr: 2021
DOI: https://doi.org/10.1007/978-3-030-63351-6_4