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- Determinantes da contabilidade de gestão nas unidades hoteleiras de PortugalPublication . Santos, Luís Lima; Gomes, Conceição; Arroteia, NunoÉ cada vez mais notório o aumento de competitividade entre as unidades hoteleiras. Assim, a tomada de decisões pelos gestores hoteleiros deverá ser optimizada, e uma forma de o fazer será utilizando uma contabilidade de gestão eficaz. Este estudo tem como objectivo caracterizar a contabilidade e controlo de gestão nas unidades hoteleiras de Portugal, identificando as técnicas tradicionais e contemporâneas adoptadas, o conhecimento e adopção do USALI, se os utilizadores da informação estão satisfeitos com a informação de gestão existente, e determinar quais são os factores que influenciam uma unidade hoteleira a adoptar determinadas técnicas de contabilidade de gestão.
- Management accounting practices in the hospitality industry: A systematic review and critical approachPublication . Campos, Filipa; Santos, Luís Lima; Gomes, Conceição; Cardoso, LucíliaThe hospitality industry has been making a remarkable contribution to the growth of several countries’ economies. From a business perspective, the best management accounting (MA) techniques and practices are fundamental to the success of companies. However, studies in this specific area in the hotel industry are scattered in the scientific literature in different types of documents and different languages, and with an irregular distribution throughout the years (2000–2020). To fill this gap, a thorough analysis of the global performance of management accounting practices in hospitality is crucial. This study accessed theWeb of Science database in three different languages and systematized the articles to be included in this research through the PRISMA guidelines, which allowed an empirical basis for the critical approach to this topic. The greatest relevance of the study is the fact that it presents a systematic review of the literature on hotel management accounting practices, for which these results were enriched with a critical approach. The innovative character of the study focuses on evidence of the increasing implementation of some hotel management accounting practices over the years, such as some operating ratios and the USALI. In practical terms, The results of this study explain the overall performance of management accounting practices in the lodging industry and which ones are most widely used. The importance of the practices to support the decision-making of hoteliers and the challenges that they need to face in their implementation are also shown.
- Contabilidade gerencial hoteleira com exercícios práticosPublication . Gomes, Conceição; Santos, Luís Lima; Faria, Ana Rita; Lunkes, Rogério João; Malheiros, CátiaO presente livro aborda a contabilidade gerencial no setor hoteleiro. Ao iniciar é apresentada a importância do turismo para a economia e o desenvolvimento dos países e, em particular, do setor hoteleiro como um elemento fundamental desta área. São também abordadas características do setor hoteleiro e as bases da contabilidade gerencial, com destaque para o sistema de informação contábil e as demonstrações operacionais do USALI (Uniform System of Accounts for the Lodging Industry). Mais especificamente, são elencados elementos, estrutura e classificações de custos, bem como aspectos relacionados às características do sistema de custos em empresas hoteleiras. Também é apresentada a distribuição e redistribuição de custos indiretos, com descrição do Custeio Baseado em Atividades e o Timedriven activity based costing, e inclui ainda a Gestão Estratégica de Custos (GEC). Na análise do Custo/Volume/Lucro são abordadas as diferentes formas de calcular a margem de contribuição (ex., total, por unidade, além do indicador), bem como o ponto de equilíbrio (ex., em quantidade e em valor) e a margem de segurança. No capítulo final são discutidos aspectos relacionados ao processo de tomada de decisão no setor hoteleiro, com decisões referentes a custos e receitas relevantes, subcontratação, formação de preços das diárias, alimentação e bebidas, revenue management, concluindo com a análise da carta do restaurante.
- Setting up operating indicators and ratios for independent hotelsPublication . Gomes, Conceição; Santos, Luís Lima; Malheiros, Cátia; Cardoso, PaulaHospitality managers need to optimize the decision making process. Therefore, hotel chains use operating ratios and indicators for their performance evaluation. The Uniform System of Accounts on Lodging Industry (USALI) provides a range of ratios and indicators for all hotel departments in its Part III. However, this information is prepared for hotel chains, given the fact that it is used to support information processing, standardization and comparability. Some of these ratios and indicators are used, on one hand, by public entities, and, on the other hand, to make comparisons among the hospitality performances of different countries. The Portuguese corporate structure is composed by micro and small enterprises. This fact has directed us to build a set of suitable ratios and indicators to be used on the management accounting of micro and small independent hotels, since it is possible to adapt USALI to the independent hotels. The research analyses the importance and the adaptability of USALI indicators and ratios in independent hotels. To accomplish the aim and objectives, the Portuguese case was analysed by conducting a survey to obtain data, which has then been submitted to a statistical analysis. The questionnaire was applied to hotels in the Leiria and Western regions (95 hotels) of the country. The sample was defined considering a percentage of independent hotels. It was concluded that, regarding operating indicators and ratios, the most frequently used per independent hotels are: room occupancy percentage, average daily rate (ADR), revenue per available room (RevPAR) and average occupancy per room. According to the findings, a tableau de bord was created, to be used by small and micro independent hotels.
- Measuring the hotels' performance using profitability ratiosPublication . Santos, Luís Lima; Gomes, Conceição; Malheiros, Cátia; Campos, FilipaThe hospitality industry in Portugal has grown significantly through the year 2019, making a significant contribution to the country's economy. However, with the emergence of the Covid-19 pandemic, this industry was severely damaged and saw its profitability affected. Thus, it becomes essential to evaluate the hotels’ performance, based on ratios and indicators that allow income to be related to other variables in the financial statements and thereby assist managers in the decision-making process. Thus, this study aims to measure the performance of Portuguese hotels through financial profitability ratios, more specifically the return on equity, return on assets and return on sales. The study, through a quantitative methodology, collected data from 2,008 hotels between 2016 and 2020, with the help of the SABI platform. Variables such as region, net income for the year, equity, financial costs and losses, total assets, operating income, and turnover were used to calculate and analyze the profitability ratios and the results were analyzed using SPSS software. The conclusions demonstrate how essential profitability is to inform hoteliers about performance. The Portuguese hotel industry, considered a driver of the country's economy, performs very well in terms of profitability indicators until the Covid-19 pandemic, a period that showed severe breaks in profitability and the need for extraordinary measures for recovery. It has become clear that the overall performance of hotels differs between regions, so the calculation of average profitability is crucial for hoteliers to effectively benchmark. This research has theoretical and practical contributions, as it supports the broadening of knowledge about financial ratios and managers' perceptions of the importance of their use in such a competitive industry. In addition, the study aims to fill a gap in the literature about the importance of analyzing hotel performance through profitability ratios in Portuguese hotel companies.
- 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.
- Restaurants' solvency in Portugal during COVID-19Publication . Gomes, Conceição; Campos, Filipa; Malheiros, Cátia; Santos, Luís LimaThe main purpose of this study is to understand how Portuguese restaurants’ solvency was affected by the COVID-19 pandemic, considering the factors that influence it. Financial information was collected for the years 2019 and 2020 in the SABI database to elaborate a quantitative methodology; a descriptive analysis was used and Pearson’s correlation coefficient, a Paired t-test, a one-way ANOVA test, and a multiple linear regression were used to test the formulated hypotheses. The findings confirm that solvency is affected by several determinants, such as financial autonomy, indebtedness, financial leverage, asset turnover, return on equity, and long-term bank debt. Solvency is influenced positively by financial autonomy and financial leverage. In contrast, solvency is negatively influenced by indebtedness, asset turnover, and long-term bank debt. Additionally, this paper represents the first study, in the restaurant sector in Portugal, which analyses the importance of solvency and its determinants, by facing a normal year with a crisis year. The paper is innovative in terms of knowledge about restaurant solvency behavior in periods of financial crisis and also because the COVID-19 pandemic has added an additional variable to restaurant solvency: short-term bank debt. In terms of theoretical implications, this study provides further insights about the factors influencing solvency in restaurant businesses during periods of a financial crisis. The main practical contributions are linked to improving the leadership skills of restaurant owners and managers to deal with periods of crisis in general, thus improving the solvency of their businesses and decreasing the risks associated with bankruptcy.
- Characterization of the financial-economic profile of the Western hotelsPublication . Santos, Luís Lima; Gomes, Conceição; Arroteia, Nuno; Coelho, JúlioO turismo é uma das principais actividades da economia mundial, e Portugal, cada vez mais, é considerado um destino turístico de excelência. Para diversificar a oferta turística portuguesa, foram criados alguns pólos de desenvolvimento como, por exemplo, o Pólo de Desenvolvimento Turístico do Oeste. Esta região tem sido alvo dum forte investimento turístico privado, sendo uma das regiões com maior concentração hoteleira do país - verificou-se que na Região Oeste há uma concentração geográfica em termos de unidades hoteleiras e de capacidade, destacando-se os concelhos de Óbidos e de Torres Vedras. Em 2007, a capacidade dos estabelecimentos hoteleiros da Região Oeste era de 5.952 camas, o que representa cerca de 3 % da capacidade do país e 16% da capacidade da região centro. Deste modo, é premente a percepção da situação económico-financeira dos empreendimentos turísticos desta região. Para a realização deste estudo – resultado de uma Bolsa de Investigação Científica - optou-se pela elaboração de um inquérito e pela recolha de diversos dados estatísticos; devido à escassez de respostas ao inquérito, este trabalho baseou-se apenas em dados estatísticos, de modo a permitir a execução duma análise descritiva e comparativa. Devido à dificuldade em obter informações por via do inquérito, não foram atingidos alguns objectivos. Contudo, este trabalho é um ponto de partida para diversos trabalhos futuros, e um alerta, para os responsáveis dos empreendimentos turísticos, da necessidade de divulgar informação, em função do contributo que estes estudos trazem para a comunidade.
- Kpi's in the restaurant industry and performance evaluationPublication . Paterno, Ana; Malheiros, Cátia; Gomes, Conceição; Santos, Luís LimaPurpose: In the period from 2010 to 2019 there was a growth in the birth rate of catering companies in Portugal, but also a growth in the mortality rate. With the arrival of COVID'19 many of these companies had the need to reinvent themselves and adapt to the adversities caused by the pandemic. Pandemic-resistant companies now need to adopt management support tools that help them control costs and maximize profits, and within these tools are performance indicators. The central objective of this study is the creation and standardization of a framework of management indicators for restaurants to be made available to managers in the sector. Methodology: We opted for the qualitative methodology to the extent that this study analyzes several documentary sources: technical books, scientific articles, websites of consulting companies and documents from Portuguese sector associations. After accessing this information, a comparison was made to identify the most used performance indicators in the various sources of information in order to create a panel of operational indicators to be adopted by catering companies in Portugal. The first stage consisted of a literature review to identify all existing indicators to monitor the operational activity of restaurants. The main references were derived 67 from the United States where it was observed that a uniform accounting system applied to this activity (USAR) was used. In the second stage the main indicators utlized in international and national consulting companies belonging to the restaurant sector were identified. In the third stage two Portuguese platforms were consulted. Portuguese platforms (Associação da Hotelaria de Portugal (AHP), Observatório do Turismo Sustentável do Centro de Portugal (OTSCP)) that aggregate operational indicators of the restaurant sector to average values with the aim of the various restaurants to perform a benchmarking. Subsequently, the collected information was compared in order to identify the most used indicators in the four sources to elaborate a tableau de bord for future use of restaurant managers. This proposal was developed taking several aspects into consideration. First, a list was created that gathers all the indicators present in at least three different literature sources (encompassing scientific articles and technical books). Next, another list was created with all the indicators used in at least two different consulting firms. After this, a list was established with the indicators used by the Portuguese sector associations. Finally, we arrived at the final indicator table, which encompasses all the indicators common to the three initial lists, adding to them the seven indicators that stood out (strong presence in literature sources or most used by consulting firms) and that did not meet the main criterion (being present in the three initial lists of indicators). Results: It was found that some indicators that are present in the literature are not used by consulting companies and associations and on the other hand some indicators that are used by associations are not present in scientific articles and technical books. The study allowed, however, to identify the most used and referred indicators, namely Labor Cost, RevPASH and Food Cost, giving rise to a set of standardized indicators considered determinant for the performance evaluation of restaurants. Some divergences were also detected in the calculation of some indicators, such as turnover, for which a more appropriate formula was proposed taking into account the specificity of the restaurant sector. Limitations: The scarcity of recent literature on the subject and the absence of a survey of performance indicators used in the restaurant sector were the main limitations of this study, but they were also an additional motivation. Another limitation lies in the fact that it is necessary to obtain the point of view of entrepreneurs in this sector, so this study proposes a set of indicators, which would benefit from the opinion of entrepreneurs. In these terms, for future research, an empirical study with the entrepreneurs of this sector is suggested. Originality: The originality of this article consists in the fact that there is no other study that proposes a wide and uniform set of indicators with special relevance for the restaurant sector.
- Management accounting practices in the Portuguese lodging industryPublication . Santos, Luís Lima; Gomes, Conceição; Arroteia, NunoPurpose - This paper aims to characterize management accounting techniques at the Portuguese lodging industry, identifying the techniques adopted and the determinants of adopting them and their adequacy for the decision-making process. It is also a purpose to understand the extent to which the industry adopts the Uniform System of Accounts for the Lodging Industry. Design/methodology/approach - The sample includes 35 hotels, which were analyzed in the years 2009 and 2010. Findings – Evidence is found supporting the fact management accounting is a tool incorporated in the daily management practices of hotels and useful to support the decision making process. The proportion used of traditional management accounting techniques is higher than the proportion of use of contemporary ones. The adoption of these techniques is influenced by the fact of the hotels being subsidiaries of a multinational hotel chain, as well as by their annual turnover. In Portugal, there is a weak use of USALI. It is more used in the large hotels and in hotels with a foreign control. Originality/Value – Management accounting supports hotels to improve their performance, thus becoming relevant to analyze management accounting practices used by them, particularly which instruments and techniques. In this context, this study, the first of its kind in Portugal, is justified with the increasing need for accurate and actual information of the accounting practices of the hotels operating in Portugal.