Journal of Tourism Research & HospitalityISSN: 2324-8807

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Research Article, J Tourism Res Hospitality Vol: 4 Issue: 1

Impact of Credit Fluctuations on Risk and Liquidity: An Analysis of Private U.S. Lodging Firms, Sustainable Tourism

Dipendra Singh1* and  Katerina Annaraud2

1Rosen College of Hospitality Management, University of Central Florida, USA
2College of Hospitality and Tourism Leadership, University of South Florida, USA

Corresponding author : Dr. Dipendra Singh, PhD
Assistant Professor, Rosen College of Hospitality Management, University of Central Florida, USA
E-mail: [email protected]
Received: February 03, 2014 Accepted: October 16, 2014 Published: October 20, 2014
Citation: Singh D (2014) Impact of Credit Fluctuations on Risk and Liquidity: An Analysis of Private U.S. Lodging Firms. J Tourism Res Hospitality 4:1. doi:10.4172/2324-8807.1000143

 

Abstract

Impact of Credit Fluctuations on Risk and Liquidity: An Analysis of Private U.S. Lodging Firms, Sustainable Tourism

Capital structure composition of business firms is considered critical for the overall success of firms. Private lodging firms in the industry demand an even deeper focus on these decisions for the nature of this industry and composition of their businesses. This study empirically investigates the effect of credit availability on the leverage of large and small private lodging firms in the United States using multivariate analysis of variance (MANOVA). Study utilizes Case-Schiller home price index to identify the two time points of differing credit availability to businesses in U.S. Leverage and Cash-to-Total Assets Ratio of large and small U.S. lodging firms were analyzed at these differing credit availability time points to assess any significant differences.

Keywords: Credit fluctuations; Lodging firms; Private business firms

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