Hospitality Financial Management and Contextualized Decision Making

Author(s): Nan Hua , Barry Bloom , Agnes DeFranco , DIPENDRA MANN , PENG LIU , Prashant Das , ARUN UPNEJA , Marcos Medeiros

Edition: 2

Copyright: 2025

Pages: 445

Choose Your Format

Details: KHPContent | 180 days

Website

$98.40 USD

This textbook encompasses four parts, introducing finance theories and contextualized decision making with a clear articulation as to how, individually and collectively, they are shaping the future of hospitality financial management.

Part I sets the foundation of hospitality financial management by introducing the concept of contextualized decision making, revisiting the accounting fundamentals, and providing an overview of hospitality financial management.

Part II centers on explaining financial instruments and markets, financial decision-making behaviors, risks, and risk management in the hospitality context.

The core ideas of value and valuation will be introduced and explained in Part III with user-friendly, Excel-based, real-life examples against the backdrop of the intertwined themes of finance and contextualized decision making. Areas of particular interest include time value of money, projection of future financial benefits, financing the growth of a business, valuation models and decision criteria, and hotel feasibility analysis.

And lastly, Part IV discusses intricacies of hospitality financial management, emphasizing the separation and specialization of several critical management aspects of practice foci with a healthy supply of examples throughout.

This textbook features mini case studies, extensive instructor materials, interactive interfaces, versatile platform accessibility, and built-in test banks readily tailorable.

Module I – Introduction: Setting the Foundation of Hospitality Financial Management
CHAPTER ONE: The Contextualized Financial Management Framework in the Hospitality Industry
CHAPTER TWO: Fundamentals of Financial Statements
CHAPTER THREE: Financial Statement Analysis
CHAPTER FOUR: Benchmarking in the Hospitality Industry
CHAPTER FIVE: The Evolution of Ownership, Functionality, and Specialization
CHAPTER SIX: Issues of the Firm and Property

Module II – Understanding Markets, Risks, and Decision Making Paradigms
CHAPTER SEVEN: Financial Instruments and Markets
CHAPTER EIGHT: Financial Decision Making Paradigms
CHAPTER NINE: Fundamentals of Risk and Return in the Hospitality Industry
CHAPTER TEN: Hospitality Risk Management

Module III – Values and Valuation in Hospitality
CHAPTER ELEVEN: Time Value of Money
CHAPTER TWELVE: Projection of Future Financial Benefits Using Industry Reports
CHAPTER THIRTEEN: Financing the Growth of a Hospitality Business
CHAPTER FOURTEEN: Valuation Models and Decision Criteria
CHAPTER FIFTEEN: Hotel Feasibility Studies

Module IV – Intricacies of Hospitality Financial Management
CHAPTER SIXTEEN: The Must Haves: Investment Package and Negotiation Skills
CHAPTER SEVENTEEN: Asset Management
CHAPTER EIGHTEEN: Hotel Management Agreements
CHAPTER NINETEEN: Hotel and Restaurant Franchise Agreements
CHAPTER TWENTY: Artificial Intelligence and Hospitality Finance: Transforming Operations and Profitability

Nan Hua

Dr. Hua is a distinguished scholar and leader in hospitality financial management with a robust academic and professional background. He holds a Bachelor of Economics from Shandong University (China), a Master’s in Asset Management/Hospitality Investment from New York University, and a Ph.D. in Hotel, Restaurant, and Institution Management from Pennsylvania State University, complemented by a Ph.D. Minor in Business Administration.

As a full professor, Dr. Hua teaches hospitality financial management courses, while his research focuses on performance analysis. He has produced over 140 academic works, and secured $1.4 million in grants, including funding from the National Science Foundation.

A recognized leader, Dr. Hua chaired the Department of Hospitality Services at Rosen College (2020–2025), served as president of iAHFME, and holds editorial roles with International Journal of Contemporary Hospitality Management, Tourism Economics, and others. He is an active reviewer for top-tier journals and conferences.

Honored among Stanford/Elsevier’s Top 2% Scientists and a leading scholar in his field, his accolades include the UCF Research Incentive Award, HFTP-iHITA Best Research Paper Award, and His Majesty Sultan Qaboos Award. Dr. Hua’s global professional experience spans academia (Penn State, University of Houston, UCF) and industry.

Barry Bloom

Barry A.N. Bloom is President and Chief Operating Officer of Xenia Hotels & Resorts, Inc., a NYSE-listed real estate investment trust. Additionally, he currently is an adjunct faculty member at Florida International University. From 2011 to 2013, Mr. Bloom served as an Associate Professor of the Practice in the School of Hospitality Administration at Boston University.

From 2008 to 2011, Mr. Bloom co-founded and was a Principal of Abacus Lodging Investors LLC. Previously, Mr. Bloom was Executive Vice President of Portfolio Management & Administration with CNL Hotels & Resorts, Inc. and prior to CNL, he served as Vice President – Investment Management for Hyatt Hotels Corporation. In addition, Mr. Bloom has worked for Tishman Hotel & Realty, VMS Realty Partners, and Pannell Kerr Forster (now CBRE Hotels). Mr. Bloom received his B.S. in Hotel and Restaurant Management as well as an MBA from Cornell University and a Ph.D. in Hospitality Management from Iowa State University.

Agnes DeFranco

Agnes L. DeFranco is a Full Professor and the Conrad N. Hilton Distinguished Chair at the University of Houston. She has authored and co-authored over 120 academic refereed articles, a number of non-refereed publications, and six textbooks. Some of her grants include a Department of State USIA research grant on Curriculum Development in International Convention and Conference Management at Meio University in Okinawa, Japan, three USDA Cochran Programs on Restaurant Management, and a number of student success and educational development grants with the Texas Higher Education Coordinating Board. Agnes is a past global president of the Hospitality Financial and Technology Professionals (HFTP), past treasurer of the International Council on Hotel, Restaurant, and Institutional Education (I-CHRIE), and past presidents for Phi Kappa Phi and Phi Beta Delta, both honor societies at the University of Houston. Currently, amongst her volunteer work, she serves as a member of the Global Finance Committee of HFTP, revising the Uniform System of Accounts for the Lodging Industry.

DIPENDRA MANN

Dr. Dipendra Singh Mann serves as an Associate Professor at the Rosen College of Hospitality Management at University of Central Florida. He received his M.S. and Ph.D. from University of Nevada, Las Vegas. Prior to teaching at UCF, he has taught undergraduate courses in the areas of finance and accounting at UNLV and UCF; and Data Analysis at the graduate level. He is a Certified Hospitality Educator. Dipendra’s primary area of research is financial performance and financial management of hospitality and tourism related firms. His research focus is on studying various factors of importance to the financial structure of hospitality firms. In past Dipendra has worked as a Financial Analyst for MGM Resorts International at Las Vegas before joining academia. His research interests, as mentioned before, are in the areas of corporate financial management, capital structure, financial performance measures, revenue management, and Information technology. He has presented the findings of the studies at several conferences and has also published peer reviewed articles in the same areas. He serves as a reviewer for several key hospitality and tourism journals and conferences. He is a professional member of ‘International Council on Hotel, Restaurant and Institutional Education’.

PENG LIU

Peng Liu is a Professor of Real Estate and Finance at Cornell University's S.C. Johnson College of Business. He holds the Singapore Tourism Board Distinguished Chair in Asia Hospitality Management at the Nolan School of Hotel Administration and is an inaugural faculty member of the Paul Rubacha Department of Real Estate at Cornell University. Dr. Liu also serves as the Faculty Director of the Cornell-Peking MHH/MBA program and is the Editor of the Journal of Real Estate Portfolio Management, the official journal of the American Real Estate Society. Prof. Liu’s research focuses on hospitality management, securitization, and market analysis across industries such as retail, airlines, hotels, and recreation. His work has been published in leading academic journals, including the Review of Financial Studies, Management Science, Tourism Management, Real Estate Economics, the Journal of Real Estate Finance and Economics, and the International Journal of Hospitality Management, among others.

Prashant Das

Prashant Das, PhD is the Chairperson of the Finance & Accounting area and an Associate Professor of Real Estate at the Indian Institute of Management, Ahmedabad (IIMA). Earlier, he served as an Associate Professor and the Director of the Real Estate Institute at EHL Lausanne, Switzerland. He has been a guest faculty at universities such as Harvard, UC Irvine, Melbourne, etc. and a visiting faculty in China and Romania. He is cited frequently in mass media. At IIMA he developed an Agri Land Price Index (ISALPI) and an Art Price Index (IAIAI) for India.

He has authored over 30 research papers, 15 cases and three books. Two of his papers have earned the best paper awards from the Journal of Real Estate Research (USA). He has twice earned the Practitioner Research Award from the American Real Estate Society. He serves on several industry/academic/editorial boards or committees. His research interests include commercial real estate (private equity, REITs, MBS, and hotels), behavioral real estate, and sustainability.

ARUN UPNEJA

Dr. Arun Upneja, Dean of the School of Hospitality Administration (SHA) at Boston University, is a visionary leader recognized for his strategic and inclusive approach. Appointed in 2013, he has steered SHA through a period of transformative growth, enhancing academic rigor, bolstering industry-relevant research, and expanding international partnerships. Under his direction, SHA has introduced new graduate programs, welcomed top-tier researchers, and significantly advanced its publication, the Boston Hospitality Review. Dr. Upneja pioneered the Classroom-to-Classroom initiative to extend global educational perspectives by linking SHA with numerous international universities. He also launched the annual SHA Leadership Summit, drawing leading global executives and industry pioneers. His commitment to innovation led to the development of advanced degrees and multiple curriculum concentrations, preparing students to excel in the fast-paced hospitality sector. With a philosophy that views the educational environment as a start-up, Dr. Upneja promotes a culture of relentless innovation and adaptability at SHA. His academic background includes a B.S. in Hotel & Restaurant Management, an M.B.A., and a Ph.D. in Accounting, all from the University of Houston, along with a B.A. in Economics and Business Administration from the University of Jammu, India. His practical experience spans several years in hotel management at the prestigious Taj Mahal Mumbai.

Marcos Medeiros

Marcos Medeiros, Ph.D., is an Assistant Professor of Hospitality, Finance, and Real Estate at the University of Virginia’s College at Wise. With over 25 years of experience in wholesale and corporate banking across Brazil, Spain, France, and the United States, Dr. Medeiros brings a wealth of industry knowledge to his academic role. He holds a Ph.D. in Hospitality Management from the Rosen College of Hospitality Management at the University of Central Florida, where he also earned a Master of Science degree. Additionally, he holds an MBA from the IE Business School in Madrid, Spain.

Dr. Medeiros’s research interests lie at the intersection of real estate, hospitality finance, and emerging technologies. His work focuses on the valuation and financial performance of vacation rentals, utilizing econometric methods, such as panel data and time-series analysis, to understand market dynamics. Moreover, he is deeply interested in the transformative potential of blockchain and fintech in real estate, particularly how these technologies can enhance transaction transparency, security, and efficiency. Dr. Medeiros’s multidisciplinary research approach reflects his extensive professional experience and commitment to advancing academic dialogue in finance.