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A twentieth century history and Delp...

Singh, Arjun.

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A twentieth century history and Delphi study to predict changes in the lodging industry structure, performance and capital sources.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	A twentieth century history and Delphi study to predict changes in the lodging industry structure, performance and capital sources./
作者:	Singh, Arjun.
面頁冊數:	361 p.
附註:	Source: Dissertation Abstracts International, Volume: 60-07, Section: A, page: 2615.
Contained By:	Dissertation Abstracts International60-07A.
標題:	Economics, Finance. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9936607
ISBN:	0599376694

A twentieth century history and Delphi study to predict changes in the lodging industry structure, performance and capital sources.
Singh, Arjun.

A twentieth century history and Delphi study to predict changes in the lodging industry structure, performance and capital sources. - 361 p.

Source: Dissertation Abstracts International, Volume: 60-07, Section: A, page: 2615.

Thesis (Ph.D.)--Michigan State University, 1999.

The purpose of this study is to make predictions in six areas of concern for lenders, investors, owners and managers associated with the U.S. lodging industry. These six areas, which also represent “uncertainties,” are: (1) capital needs of the lodging industry, (2) availability of capital for the lodging industry, (3) cost and terms of capital, (4) structural changes in the lodging industry, (5) operating and investment performance and (6) role of financial institutions as suppliers of capital to the lodging industry.

ISBN: 0599376694Subjects--Topical Terms:

626650
Economics, Finance.

A twentieth century history and Delphi study to predict changes in the lodging industry structure, performance and capital sources.
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245 1 0 $a A twentieth century history and Delphi study to predict changes in the lodging industry structure, performance and capital sources.
300 $a 361 p.
500 $a Source: Dissertation Abstracts International, Volume: 60-07, Section: A, page: 2615.
500 $a Adviser: Donald F. Holecek.
502 $a Thesis (Ph.D.)--Michigan State University, 1999.
520 $a The purpose of this study is to make predictions in six areas of concern for lenders, investors, owners and managers associated with the U.S. lodging industry. These six areas, which also represent “uncertainties,” are: (1) capital needs of the lodging industry, (2) availability of capital for the lodging industry, (3) cost and terms of capital, (4) structural changes in the lodging industry, (5) operating and investment performance and (6) role of financial institutions as suppliers of capital to the lodging industry.
520 $a The overall design of this study includes a descriptive component and a predictive component. The descriptive component includes a review and analysis of historical (secondary) literature and interview data. The predictive component uses the Delphi technique, a qualitative forecasting method.
520 $a The study is designed within the context of the “open systems theory”, which views organizations as open, interacting and dependent on resources from the environment. Given this premise, the purpose of using this underlying theory to design the study (it is argued) is that the source of “uncertainties” impacting organizations originates from their environment. As a result, if this environment is clearly identified, systematically studied, some of these uncertainties can be converted into quantifiable risks with the desired result of an improved estimate of future U.S. lodging capital markets.
520 $a While the economy is expected to enter into a slower period by year 2000 and possibly even reach the bottom of the business cycle in the year 2005, the prediction of key economic indicators (such as inflation, interest rates) for both the periods is positive. This anomaly is explained by the fact that whereas business cycles indicate growth or decline as measured by GDP, other key indicators measure the overall business climate.
520 $a The financial services industry, which is a source of both debt and equity capital for the lodging industry, is expected to be operating in a more deregulated and fiercely competitive climate in the future. Regulations that segregate the various financial institutions are expected to be removed, opening up opportunities for each institution to expand the financial products that it can sell.
520 $a While the average firm in the lodging industry is predicted to become much larger through consolidation, this increase in size not expected to be the result of major increases in room supply in the U.S. However, the firm size is expected to grow through a combination of mergers, international expansion and introduction of new lodging products. (Example: Extended stay, assisted living facilities)
520 $a While Delphi panelists concur that capital will be available in both the prediction periods, lenders are likely to become increasingly selective as to whom and for what lodging products they will lend. Only those who meet lenders toughening operating and investment return requirements are likely to have ready access to capital in the future. While lending terms and criteria are not expected to be overly stringent panelists hope here will be enough capital market discipline to prevent overbuilding of the hotel industry.
590 $a School code: 0128.
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650 4 $a Recreation. $3 535376
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650 4 $a Economics, Commerce-Business. $3 626649
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710 2 0 $a Michigan State University. $3 676168
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791 $a Ph.D.
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