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Browsing CiTUR - Livros (capítulos) by Author "Gomes, Conceição"
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- Accounting for dissimilarities in hospitality costs among Portuguese regionsPublication . Tourita, Íris; Gomes, Conceição; Malheiros, Cátia; Santos, Luís LimaHospitality industry is characterized by some specificities such as high fixed costs, labour intensive and intensive capital. All of these implies a unique cost structure that will be different from the other industries. A large share of operating costs in the hospitality industry is fixed costs, including labour costs. Those differences will imply a divergence in the use management accounting techniques so that manager decisions will be better. The hotel performance diverges according the location and the cost structure has got a great influence in the company’s performance. It is also known that competition influence the enterprises costs, and the hospitality competition is diverse among Portuguese regions. Therefore, it could be asked if the cost structure varies according to location of the hotel company. Data was collected on July 4, 2019, on the SABI platform and the sample is composed by 1808 hotel companies registered in Portugal with two economic activity codes (CAE), “55111 - Hotels with restaurant” and “55121 - Hotels without restaurant”. The cost structure was analysed in the 2010-2017 period through the costs presented in income statement. The findings provide current trends about hospitality industry cost structure and the evolution between 2010 and 2017. In Portugal, in general terms, supplies and external services have got the largest share of the cost structure. In addition, an inter-comparison region was made, which determined that cost structure is significantly different. In fact, supplies and external services, labour cost, cost of goods sold, and materials consumed, and depreciation have a different weight among the Portuguese regions.
- Achieving a competitive management in micro and small independent hotelsPublication . Santos, Luís Lima; Gomes, Conceição; Malheiros, CátiaThe lodging industry is a crucial contributor to global tourism revenues in many countries. A significant part of hotel revenues comes from micro and small hotel companies not belonging to global brands. The aim of this chapter is to propose new tools – based on USALI and on the most relevant operating ratios – to support the management of micro and small hotels that are not integrated into hotel chains. The methodology starts with literature review, which allowed to point out some USALI schedules that are not being used, a lot of items of USALI schedules without relevance and a set of operating ratios and indicators highlighted by researchers and professionals. The first result consists in the proposal of seven simplified hospitality management accounting schedules (revenue and cost items). The second result is an operating scorecard that includes the ratios and indicators useful for micro and small independent hotels.
- Are hotel companies creditworthy? The case of Portuguese hospitality industryPublication . Pãozinho, Ricardo; Santos, Luís Lima; Gomes, Conceição; Malheiros, CátiaThe hospitality industry achieved an important place in modern economies, namely in terms of the contribution to the GDP and for direct and indirect employment. Considering that, this paper aims to highlight the hotel companies’ level of solvency, as a sustainability factor in an extremely competitive sector. The main structure ratios of Portuguese Hotels in the 2010-2017 period will be analyzed; data was collected on July 4, 2019, on the SABI platform and the original sample is composed by 2161 hotel companies registered with two economic activity codes (CAE), “55111 - Hotels with restaurant” and “55121 - Hotels without restaurant”. The structure ratios, also known as debt ratios, highlight the importance of financing sources (resources), as well as the way in which financing is applied (applications). On the other hand, capital raising by companies, whether they are from the hospitality sector or not, should be carried out at the lowest cost in order to maximize their value. For the hotelier, it is essential to have his company balanced in the medium and long term; that is the reason why the investment coverage ratio, the fixed assets coverage ratio, the financial autonomy ratio and the solvency ratio were considered in the analysis. It is expected to obtain results that help hospitality managers understand the importance of the solvency and to guide the management for the financial sustainability in the medium and long term.
- Assessing the liquidity in Portuguese hotel companiesPublication . Silva, Catarina; Santos, Luís Lima; Gomes, Conceição; Malheiros, CátiaThe hospitality companies have had substantial growth in the tourism sector which gives them a large part of the revenue generated by the sector. In this regard, its impact, whether negative or positive, is quite high and generates a response to a need felt by agents of the environment in which it operates. As a short-term sustainability indicator, the liquidity level of a company demonstrates its ability to repay its obligations, being a great management support for decision making and anticipation of financial problems that may arise. Considering the volatility of hotel companies, greater importance is given to the study of liquidity. The main liquidity ratios of Portuguese hotels in the 2010-2017 period will be analysed; data was collected on July 4, 2019, on the SABI platform and the original sample is composed of 2161 hotel companies registered with two Portuguese economic activity codes (CAE), “55111 - Hotels with restaurant” and “55121 - Hotels without restaurant”. The assessment of liquidity level will be important to decision makers understand if there are differences between hotels with or without restaurant and among the Portuguese districts were hotels are located. The results of this study are expected to be of assistance to hotel managers as decisions taken within the organization can be more deliberate and informed.
- Determinantes do TRevPAR: uma análise dos hotéis portugueses entre 2010 e 2017Publication . Rolim, Maria; Malheiros, Cátia; Gomes, Conceição; Santos, Luís LimaTRevPAR is one of the most important operating ratios of hotel management accounting, which measures an hotel's performance, not only in terms of accommodation, but considering all its current earnings, given the increase in diversification of hotel income sources. In this paper, it will be analysed TRevPAR (total revenue per available room) of Portuguese Hotels with and without restaurant, by district, between 2010 and 2017. Based on the results obtained in two different surveys. The first, performed in the SABI platform, on July 4, 2019, and the second, held on the Registo Nacional de Turismo (RNET), between July 5 and 15, 2019. From that survey a sample of 955 active hotel companies was obtained, with two economic activity codes (CAE), “55111 - Hotels with restaurant” and “55121 - Hotels without restaurant”. Once TRevPAR is calculated by dividing the total revenue of a hotel by the total number of rooms available, elements obtained in the previous research were used to calculate this indicator. Later they were analysed, considering the factors location, size and whether or not the hotel has a restaurant. The overall results point to an increase in TRevPAR over the years under review (2010-2017), also indicating that factors such as location and whether to own a restaurant significantly influence TRevPAR. Regarding the size of the hotels, it was found out that TRevPAR is positively influenced.
- How to innovate and strengthen management accounting in a family restaurant businessPublication . Campos, Filipa; Santos, Luís Lima; Gomes, ConceiçãoThe aim of the chapter is to implement the adjusted USAR (Uniform System of Accounts for Restaurants) in a family restaurant business to provide more powerful operational and financial information, through the innovation of this type of financial tools. The restaurant sector has been recording historical highs in terms of its contribution to countries’ economies, and academic research on this sector has also been developing positively. This sector is characterised by many small companies, most of which are family-owned, whose main objective is to maximise profit. The cost and income information are extremely important for decision-making and achieving this goal. This information should be treated in a particular way since this is a sector with some particularities and due to the adverse reactions of managers. Based on the literature review, research questions were formulated. The qualitative methodology was used to promote a deeper understanding of the practices applied in family restaurant companies and of how to innovate and strengthen them. The aim is to study the social phenomenon in depth to understand the reactions of family restaurant managers to the change of cost information processing. The method adopted was an exploratory case study to study the implementation of USAR in a real environment and to verify its viability. A single case study was chosen since family restaurant businesses have the same characteristics and only the managers’ personalities change. In this case study, several sources of evidence were used, such as documentation, interviews, participant observation, and archival records. Then, the structure of its operations, accounting information on costs and incomes, and the adopted management control practices were analyzed. The results supported that the implementation of control and management systems in the restaurant sector allows for more effective management. USAR demands greater precision and detail at the operational and financial levels. The case study in a family-managed restaurant allowed the implementation of USAR with some adaptations, such as removing several detailed supporting schedules and reducing items from other statements. All research questions were answered, and this study will help restaurant owners to improve their income and control their costs more effectively, and make innovative decisions based on the information obtained. The implementation of USAR, as an innovative model, provides a more realistic vision of the whole operation and all the financial information and presents advantages. However, the lack of knowledge of managers and employees about the basic principles of management accounting can influence the success of the process.
- The Impact of Macroeconomic Factors on the Hotel Industry Through the Financial Leverage Trends: The Portuguese CasePublication . Santos, Luís Lima; Gomes, Conceição; Lisboa, InêsThis chapter aims to understand the historical trends of hotel industry financial leverage, and to analyse the impact of macroeconomic factors on it. Therefore, managers can understand the impact of cyclical factors on capital structure and can act in advance to minimize additional costs or financial problems. Moreover, it intends to propose an analysis model to be used by managers and shareholders to control the effect of financial leverage over their companies. This analysis model can help managers to know the impact of the chosen financing sources on shareholders’ return and whether there is a change in the financial leverage effect. Results highlight that the perception of financial leverage by hotel managers is crucial in crisis situations, such as pandemics and natural disasters, which demands new challenges to companies.
- The tourism distribution in Portugal and Spain: An approach to its performance evaluationPublication . Oliveira, Fernanda; Gomes, ConceiçãoThis study aims to strengthen knowledge about the tourism distribution system, using the calculation and analysis of indicators and financial ratios, as part of this sector companies’ performance evaluation. In this case, return on equity (ROE) was used as this ratio measures how effectively management is using shareholders’ investment to create profits. Using the Dupont model, the main objective is to identify which financial factors influence travel company’s ROE from the shareholder viewpoint (Lopes et al., 2014; Pratt, 2011, Rodrigues and Simões, 2008). To this end, an Iberian study involving 7528 travel companies (travel agencies, tour operators and other reservation services and related activities) was conducted. The ROE was calculated for the years 2007 and 2017 for 2065 Portuguese companies and 5463 Spanish. The ROE calculation in those two years identifies an increase of 5 p.p. for Portugal and 11 p.p. for Spain. In Spain, the Tour Operators sub-sector is the one with the highest ROE increase in 2017 (15p.p. between 2007 and 2017), while in Portugal it is the Travel Agencies subsector (5p.p.). This increase in ROE in 2017 is positively determined by net income after taxes and earnings before taxes and interest (EBIT) in both countries. Moreover, in Spain, this ratio also has a positive influence of turnover and headcount. Thus, Portugal and Spain reveal two different realities in this highly competitiveness sector. What lessons can be drawn from these two countries reality? What should managers do to be proactive regarding the issues which influence performance evaluation?