Investment activities of a hotel construction

Јасмина Огњановић; Александра Пештерац

Authors

Јасмина Огњановић Универзитет у Крагујевцу, Факултет за хотелијерство и туризам у Врњачкој Бањи
Александра Пештерац Студент Економског факултета у Крагујевцу

Keywords:

Invesments, Hotels, Investments in hotels business

Abstract

The hotel industry is a capital and labor intensive industry. Thus, hotel facilities and labor force occur as carriers of this industry’s development. The offer of the basic hotel products in modern conditions has become outdated. Consequently, additional hotel services should be accessible to users. The factors influencing the value of hotel services are technical equipment, functionality and comfort and modern design of the hotel. This means constant investing in hotel infrastructure improvement, which represents investments that require serious financial resources, greater risk and a longer implementation period. The aim of the paper is to observe the performing of investment activities in hotels, consider the role of feasibility studies and budgets in the implementation of the investment project and the role of appropriate methods for evaluation of investment projects. The method used in this paper is descriptive by its nature.

Downloads

Download data is not yet available.

References

Brotherton, B. (2004). Critical success factors in UK budget hotel operations. International Journal of Operations & Production Management, 24(9), 944-969.

DeFranco, A. & Lattin, T. (2007). Hospitality Financial Management. Hoboken, John Wiley & Sons, Inc. N.Y.

???????, ?., ?????????, ?. ? ?????????, ?. (2011). ????????? ? ??????????. ?????? ?? ????????? ?????????: ???????.

Jones, T. (1998). UK hotel operators use of budgetary procedures. International Journal of Contemporary Hospitality Management, 10(3), 96-100.

Jones, T. (2008). Changes in hotel industry budgetary practice. International Journal of Contemporary Hospitality Management, 20(4), 428-444.

Karadag, E., Cobanoglu, C. & Dickinson, C. (2009). The characteristics of IT investment decisions and methods used in the US lodging industry. International Journal of Contemporary Hospitality Management, 21(1), 52-68.

Kianto, A., Hurmelinna-Laukkanen, P. & Ritala, P. (2010). Intellectual capital in service and product-oriented companies. Journal of Intellectual Capital, 11(3), 305-325.

???????, ?. (2007). ???????? ?????? ????????????? ?????????. ?????? ?? ????????? ????????? ?????????? ????????? ? ????????: ???????.

Newell, G. & Seabrook, R. (2006). Factors influencing hotel investment decision making. Journal of Property Investment & Finance, 24(4), 279-294.

Pine, R. & Qi, P. (2004). Barriers to hotel chain development in China. International Journal of Contemporary Hospitality Management, 16(1), 37-44.

????????? ? ??????????? ?? ?????????????? ????????????? ???????? ?? ??????? ????????? ?????? – ???????? ??????? ??, ??. 41/2010, 103/2010, 99/2012.

Ransley, J. & Ingram, H. (2001). What is “good” hotel design?. Facilities, 19(1/2), 79-87.

Roubi, S. (2004). The valuation of intangibles for hotel investments. Property Management, 22(5), 410-423.

Steed, E. & Gu, Z. (2009). Hotel management company forecasting and budgeting practices: a survey-based analysis. International Journal of Contemporary Hospitality Management, 21(6), 676-697.

???????? ??????, ????????? ? ?????????? ?????? - The umbrella association of Hotels, Restaurants and Cafes in Europe – HOTREC (2016) dostupno na: http://www.hotrec.eu.

Frehse, J. (2007). Private equity hotel investments. Tourism Review, 62(1), 6-13.

French, N. & Gabrielli, L. (2006). Uncertainty and feasibility studies: an Italian case study. Journal of Property Investment & Finance, 24(1), 49-67.

???????, ?. (2010). ???????? ?????????. ???????? ?? ????????? ? ??????? ? ?????????????: ???????.

Collier, P. & Gregory, A. (1995). The practice of management accounting in hotel groups. in Harris, P.J. (Ed.), Accounting and Finance for the International Hospitality Industry, Butterworth-Heinemann Ltd, Oxford, 137-160.

???????, ?. ? ?????, ?. (2011). ???????????? ? ???????? ??????. ??????????? ??????????: ???????.