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- 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.
- 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.
- 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.
- TRevPAR as hotels performance evaluation indicator and influencing factors in PortugalPublication . Santos, Luís Lima; Malheiros, Cátia; Gomes, Conceição; Guerra, TâniaIn a global competition current scenario, measuring the performance of hotels is increasingly important for managers who, to take decisions, need management indicators and tools. The most common operating indicators are occupancy rate and RevPAR (Revenue Per Available Room). The goal of any hotel is to be as profitable as possible, so they must work on increasing revenues and decreasing costs. To increase revenues the focus has been on revenue management practices, and there is already several software that help hoteliers to define the most appropriate price for each customer. Therefore, managers mostly seek to increase accommodation revenue, however from a total revenue management perspective revenue from other departments must also be considered. The TRevPAR (Total Revenue Per Available Room) appears as a more comprehensive indicator that takes into account all hotels revenue sources. The purpose of this research is to study and highlight TRevPAR influence factors, since this information have practical implications in the hotel managers’ decision. This methodology was carried out through the analysis of 948 hotels from 2010 to 2017. The sample was obtained by crossing two databases: SABI platform and Portuguese National Tourism Registry (RNET). The tested determining factors were the hotel's location, size, number of stars and services. An original and exhaustive study in terms of services meets the purpose, thus, the influence on TRevPAR was tested on outdoor and indoor pools, tennis, golf, spa, meeting rooms and restaurants. The findings show a global increase over the years analysed (2010-2017) in TRevPAR. The location, size and number of stars influence TRevPAR, as do most services.
- Factors Influencing Hotel Revenue Management in Times of Crisis: Towards Financial SustainabilityPublication . Lima Santos, Luís; Gomes, Conceição; Malheiros, Cátia; Crespo, Catarina; Bento, Carla(1) Background: Facing the challenges of a post-pandemic period and the Ukraine War and recognising the gap in scientific research on the application of revenue management (RM) in the Portuguese hotel industry, the main objective of this study is to identify the most effective and least appropriate RM practices for use in periods of low demand and crises, reflecting the financial sustainability perspective. The theoretical framework of this study focuses on the main RM practices, grouping them into price and non-price strategies. (2) Methods: A quantitative methodology was employed, collecting information from Portuguese hotels through an online questionnaire, and statistical analysis using Mann–Whitney and Chi-square tests was conducted. (3) Results: Hotels offered discounts during the pandemic, but room rates were reduced during the recovery period. These findings also revealed that commonly used techniques were the best available rate (BAR) and rate fences, particularly during the pandemic. Quality, brand image, strategic partnerships, and marketing actions are recognised as essential. However, loyalty programs, length of stay (LOS) control, rate parity, and bundled services are not commonly implemented despite their importance during periods of low demand. Larger hotels, five-star hotels, and members of international chains applied more RM practices than smaller four-star independent hotels. (4) Originality: This study provides original and valuable insights into increasing hotel revenues and occupancy rates during future periods of low demand, which benefit financial sustainability.
- Ascertaining Restaurant Financial Sustainability by Analyzing Menu PerformancePublication . Gomes, Conceição; Malheiros, Cátia; Lima Santos, Luís; Campos, Filipa Alexandra Gomes deThe complexity of companies in the restaurant industry is clear, and various techniques can be used to make decisions. The analysis of performance and the optimization of restaurant menus are considered important, which is why several approaches can be used. The objective of this study is to achieve financial sustainability in the restaurant industry through menu performance analysis and identifying strategies to improve menu profitability. A qualitative methodology of a dual case study was adopted by comparing a restaurant within a hotel and a street restaurant. The results show that for restaurant owners and managers, these approaches are useful, simple, and pertinent for measuring the performance of the restaurant menu and consequently improving results. The originality of this research lies in the fact that three analysis models were applied simultaneously, allowing for an in-depth analysis of the profitability of the menus being analyzed. This study identified the most profitable items for each restaurant and the items that needed to be changed to contribute more to the profitability of the restaurant’s menu, resulting in practical implications. Through theoretical implications, this study corrects the limited knowledge about performance through the restaurant menu, creating a starting point for knowledge spreading to society. In conclusion, this research is one of the first to bridge the gap between theory and practice, taking several approaches to assess restaurant menu performances, which can be useful in restaurants to promote sustainability.
- Monitoring Revenue Management Practices in the Restaurant Industry—A Systematic Literature ReviewPublication . Malheiros, Cátia; Gomes, Conceição; Lima Santos, Luís; Campos, Filipa Alexandra Gomes deThe research of revenue management (RM) practices is widespread in the accom modation sector, but not in the restaurant industry. This study aims to ascertain which RM practices are the most used in the restaurant industry, organizing them by clusters, identifying those that imply profit maximization and describing the challenges of their implementation. Mixed methods were used as the methodology through a systematic literature review, which was submitted to a brief descriptive analysis and content anal ysis. Data were retrieved from the Scopus database, and, using the PRISMA diagram, 70 papers were collected for comprehensive analysis of their content. The results of the studies identified five main areas of RM and 21 practices, some specific to the restaurant industry, with reservations and meal duration management being the most used practices. Reservations have been implemented in many restaurants but are not a reality for all of them. A well-managed meal duration increases restaurant capacity. Furthermore, customer satisfaction implies the success of all other practices since customers must understand and accept the RM practices for their success. As a theoretical implication, this study contributes to the development of research into the RM practices of restaurants, and as practical im plications, restaurant managers should implement the following practices: meal duration management, indicators, and table mix. This study contributes to future research, such as analyzing the relationship between sustainability and RM, applying RM to the beverages department, and including RM in consumer behavior in the context of future crises.
- 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.
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