Type of Submission
Refereed Article
Abstract
This article is based on a research project spanned over a six year period of 2003-2008 on the club industry in the United States. The last six years saw many events that affect the economy of the world. The results showed the club industry is not immune to such ups and downs. While the financial viability of an individual club is tied strongly to its local economy, the entire industry is closely affected by the general economy. Twenty ratios are reported covering the five general classes of financial ratios. The ratio results suggest 2004 was a banner year for the club industry, while the current tough recession has pushed the club business into turmoil, and little relief is in sight.
Recommended Citation
DeFranco, Agnes and Schmidgall, Raymond S.
(2009)
"The Club Industry: The Challenging Years of 2003 through 2008,"
Journal of Hospitality Financial Management: Vol. 17:
Iss.
2, Article 2.
Available at:
https://scholarworks.umass.edu/jhfm/vol17/iss2/2