Hospitality Financial Management is an up-to-date introductory finance text written specifically for those in hospitality and tourism. It uses hospitality examples to cover concepts from 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, time and value of money, stock and bond valuation, capital budgeting, plus hotel market studies/appraisals and capital structure of the firm.

Key Features:

• 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.

Contents

1. Introduction
2. Financial Markets and Financial Instruments
3. Review of Financial Statements and Selected Ratios
4. The Relationship Between Risk and Return
5. Time Value of Money
6. Fixed-Income Securities: Bonds and Preferred Stock
7. Common Stock
8. Cost of Capital
9. Introduction to Capital Budgeting and Cash Flow Estimation
10. Capital Budgeting Decision Methods
11. An Introduction to Hotel Valuation
12. Capital Structure

Glossary
Index

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