Hospitality Financial Management

"Hospitality Financial Management" by Robert E. Chatfield and Michael C. Dalbor is an up-to-date introductory finance text written. specifically for hospitality and tourism majors. The book uses hospitality examples to cover concepts tram a practical perspective, explaining and demonstrating the importance of financial management in the hospitality industry.

The text covers such important topics as an introduction to financial markets and instruments, a review of financial statements, risk and return, tithe and value of money; stock and bond valuation, capital budgeting, plus hotel market studies/appraisals and capital structure of the firm. Key features include:

• Up-to-date hospitality examples
• Chapter exhibits connect chapter concepts with hospitality companies
• Practical applications
• Step-by-step guides to using financial calculators
• Capital budgeting project examples

Written in a clear and easy to understand format, "Hospitality Financial Management" is designed to equip readers with a basic knowledge of the financial management function in the hospitality industry.

This up-to-date introduction to finance, written for those in hospitality careers, explains and demonstrates the importance of financial management within the hospitality organization. This clear and concise book provides many examples and is primarily based on practical applications and less on theoretical foundations--keeping hospitality professionals tuned into finance without intimidating them with a typical "finance" book. Financial Markets and Financial Instruments; Review of Financial Statements and Selected Ratios; The Relationship Between Risk and Return; Time Value of Money; Fixed Income Securities: Bonds & Preferred Stock; Common Stock Features; Cost of Capital; Capital Budgeting and Cash Flow Estimation; Capital Budgeting Decision Methods; Hotel Valuation; and Capital Structure. For those in hospitality/travel tourism professions.