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dc.contributor.authorGuilding, Christopheren_US
dc.contributor.authorLamminmaki, Dawneen_US
dc.contributor.editorKaye Chonen_US
dc.date.accessioned2017-05-03T13:20:19Z
dc.date.available2017-05-03T13:20:19Z
dc.date.issued2007en_US
dc.date.modified2009-11-13T06:36:41Z
dc.identifier.issn1096-3480en_US
dc.identifier.doi10.1177/1096348007302351en_AU
dc.identifier.urihttp://hdl.handle.net/10072/25239
dc.description.abstractA survey was conducted to compare hotel capital budgeting practices employed within and outside the hotel sector. It was found that the propensity to inflate investment cash inflow projections outweighs the propensity to deflate cash inflow estimates, and the tendency to inflate projected cash inflows is less in the hotel industry. Hotels exhibit a lower level of development with respect to reviewing required rates of return and also applying postcompletion audits. Also, net present value and internal rate of return, which are based on discounting approaches, are used to a relatively low degree in the hotel industry, and more than half the hotels surveyed either exclusively use the payback method (36%) or use no financial investment appraisal method at all (17%). Consistent with prior findings in other industrial sectors, there appears to be a positive relationship between organizational size and use of financial investment appraisal techniques.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.format.extent126926 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherSage Publicationsen_US
dc.publisher.placeUnited Statesen_US
dc.publisher.urihttp://jht.sagepub.com/en_AU
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom486en_US
dc.relation.ispartofpageto503en_US
dc.relation.ispartofissue4en_US
dc.relation.ispartofjournalJournal of Hospitality and Tourism Researchen_US
dc.relation.ispartofvolume31en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchcode350601en_US
dc.titleBenchmarking Hotel Capital Budgeting Practices to Practices Applied in Non-Hotel Companiesen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.rights.copyrightCopyright 2007 SAGE Publications. This is the author-manuscript version of the paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.en_AU
gro.date.issued2007
gro.hasfulltextFull Text


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