Journal of Hospitality Financial Management: Volume 20, Issue 2
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How Did Different Restaurant Segments Perform Differently through the Recession? An ARIMA with Intervention Analysis on US Restaurant Stock Indices
(2013-04-01) Zheng, Tianshu; Farrish, John; Wang, Xiaofan
This study attempted to identify, quantify, and explain the possible impact the recession had on restaurant stock performance in comparison with the S&P 500 index using Autoregressive Integrated Moving Average (ARIMA) with Intervention analysis approach and t-tests. Based on the North American Industry Classification System, limited-service (NAICS code 722211) and full-service restaurant segments (NAICS code722110) were examined. The results of this study suggest that the limited-service restaurant segment was recession-proof and its stock index outperformed that of both the full-service restaurant segment and the S&P 500 index. The findings of this study will not only provide the industry and investors with empirical evidence of restaurant performance during and after the recession; but also fill the gap of literature by applying ARIMA with Intervention Analysis in identifying the lag time of impact an event has on time series in hospitality related research.
Tip Reporting In Independent Food And Beverage Establishments
(2013-05-12) Swann, Mollie M; Hofmann, Mary A; Clark, J. Dana
Tip reporting has always been an issue for the IRS. What happens when individuals under-report their tip income? History has shown that a large burden is placed upon the restaurants for the additional taxes that are lost due to unreported tip income. Using focus group interviews and survey research, this study addresses four research questions: 1. Do restaurant employers understand the tip reporting requirements? ; 2. Where does the IRS place the burden of record keeping and payment of lost taxes? ; 3. Are restaurants aware of the tip reporting resources available to them? ; 4. What are the implications of under-reporting tip income?
Lease Accounting Proposal: Awareness Issues and Estimated Impacts
(2013-05-15) Jiang, Lan; Schmidgall, Raymond S
ABSTRACT This study is designed to explore: 1) the awareness of proposed changes in lease accounting; and 2) the estimated impact of changes in the lodging industry. A questionnaire was distributed to 500 members of the Hospitality Financial and Technology Professionals (HFTP) associated with the lodging industry. The findings indicate that only 44% of the respondents were aware of the proposed changes in lease accounting. Further, the results show that both experienced executives and those who majored in accounting valued the impact of the lease rule proposed change significantly lower than others.
EB-5 Financing Program: Option for Financing Development in the Hospitality Industry
(2012-01-01) Shen, Serena; Kwansa, Francis A.
Congress created the EB-5 visa program in 1990 specifically to attract foreign private investment to finance business development while providing a pathway to permanent residency in the U.S. As a non-traditional alternative source of financing for hotel developers, this program has gained importance in the last several years partly due to the 2008 economic recession, the program’s affordability and flexibility, and hotels’ capacity to create jobs to meet the requirements of the program.
A Theoretical Framework of the Impact of Price Transparency on Pricing in the Lodging Industry
(2013-01-30) Hua, Nan
Facilitated by electronic market places, price transparency has gained momentum in influencing hotel pricing and aroused heightened stakeholder interest recently in the lodging industry. However, there lacks a theoretical framework that explains the impact of price transparency on pricing and widely different opinions appear to introduce confusions to industry practitioners. Therefore, this study is designed to reveal a theoretical framework of the impact of price transparency on pricing for the lodging industry and offer relevant managerial implications.