Hospitality Financial Management

Real-world advice for quick retention of the most important business concepts and skills of hospitality finance Hospitality Financial Management provides a straightforward, practical approach to help the hospitality manager effectively analyze hospitality industry management reports and financial statements; prepare accurate business forecasts, strategic pricing models, and effective cost-control systems; manage working capital; develop and finance growth strategies; perform investment analysis; prepare investment packages; negotiate and structure business deals; and ultimately increase shareholder value and personal wealth. This comprehensive how-to book 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 Learning Outcomes-a summary of key topics covered in each chapter Finance in Action-scenarios that apply 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 The Real Deal-boxed inserts that 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 Concept Checks-case studies that reinforce the materials presented and enable students to practice their analytic and problem-solving skills Hospitality Financial Management is the perfect book for undergraduate and graduate hospitality management students, hospitality industry managers, and owners of small hospitality businesses.

Agnes DeFranco is a Professor of Finance and Accounting at the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston. Her research areas are hospitality finance, cost control, accounting, and cultural and diversity issues. She has been recognized with the Dean's Award for Excellence in Applied Research. She is also the 2006–2007 President of the Hospitality Financial and Technology Professionals, an international professional association formed in 1952 with over 4,600 members worldwide.

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.