FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA
The development of hotel operators in Indonesia, both conventional hotel operators and digital-based hotel operators (VHO) encourages the growth of the hotel operator business. One of the local players in the hospitality industry is XYZ, with three subsidiaries hotels (MHH, SPH, and BIH) which using...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
iVolga Press
2020-10-01
|
| Series: | Russian Journal of Agricultural and Socio-Economic Sciences |
| Subjects: |
| _version_ | 1797711682004320256 |
|---|---|
| author | Achsani N.A. Bandono B. Miranti |
| author_facet | Achsani N.A. Bandono B. Miranti |
| author_sort | Achsani N.A. |
| collection | DOAJ |
| description | The development of hotel operators in Indonesia, both conventional hotel operators and digital-based hotel operators (VHO) encourages the growth of the hotel operator business. One of the local players in the hospitality industry is XYZ, with three subsidiaries hotels (MHH, SPH, and BIH) which using hotel operator. During the last five years, there were several XYZ’s hotels financial indicators that were not achieved with a downward trend in financial performance. This study is intended to see the impact of using hotel operator to financial distress risk using Altman Z-Score and Debt Service Coverage Ratio (DSCR). The result shows that MHH underwent financial distress in 2002 to 2006 and the following year was categorized as Health Company, as company profits improved. SPH during the study period was categorized as a health company. BIH was in financial distress from 2001 to 2006 and from 2017 to 2018 due to loans for renovations do not increase revenues and profits with negative retained earnings for the past 4 (four) years. This study is using actual performance data from three hotels belong to XYZ over multiple years to validate the effectiveness of hotel operator, where hotel operator does not always have an impact in the financial performance of the hotels. |
| first_indexed | 2024-03-12T07:10:40Z |
| format | Article |
| id | doaj.art-e79535c4e7704d4388b0562bcf73dc76 |
| institution | Directory Open Access Journal |
| issn | 2226-1184 |
| language | English |
| last_indexed | 2024-03-12T07:10:40Z |
| publishDate | 2020-10-01 |
| publisher | iVolga Press |
| record_format | Article |
| series | Russian Journal of Agricultural and Socio-Economic Sciences |
| spelling | doaj.art-e79535c4e7704d4388b0562bcf73dc762023-09-02T23:11:31ZengiVolga PressRussian Journal of Agricultural and Socio-Economic Sciences2226-11842020-10-0110610172310.18551/rjoas.2020-10.03FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIAAchsani N.A.0Bandono B.1Miranti2School of Business, Bogor Agricultural UniversitySchool of Business, Bogor Agricultural UniversitySchool of Business, Bogor Agricultural UniversityThe development of hotel operators in Indonesia, both conventional hotel operators and digital-based hotel operators (VHO) encourages the growth of the hotel operator business. One of the local players in the hospitality industry is XYZ, with three subsidiaries hotels (MHH, SPH, and BIH) which using hotel operator. During the last five years, there were several XYZ’s hotels financial indicators that were not achieved with a downward trend in financial performance. This study is intended to see the impact of using hotel operator to financial distress risk using Altman Z-Score and Debt Service Coverage Ratio (DSCR). The result shows that MHH underwent financial distress in 2002 to 2006 and the following year was categorized as Health Company, as company profits improved. SPH during the study period was categorized as a health company. BIH was in financial distress from 2001 to 2006 and from 2017 to 2018 due to loans for renovations do not increase revenues and profits with negative retained earnings for the past 4 (four) years. This study is using actual performance data from three hotels belong to XYZ over multiple years to validate the effectiveness of hotel operator, where hotel operator does not always have an impact in the financial performance of the hotels.hotel managementhotel performancefinancial performancefinancial distresshotel operatoraltman z-scoredebt service coverage ratio |
| spellingShingle | Achsani N.A. Bandono B. Miranti FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA Russian Journal of Agricultural and Socio-Economic Sciences hotel management hotel performance financial performance financial distress hotel operator altman z-score debt service coverage ratio |
| title | FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA |
| title_full | FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA |
| title_fullStr | FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA |
| title_full_unstemmed | FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA |
| title_short | FINANCIAL DISTRESS ANALYSIS AT <XYZ>’S HOTEL IN INDONESIA |
| title_sort | financial distress analysis at xyz s hotel in indonesia |
| topic | hotel management hotel performance financial performance financial distress hotel operator altman z-score debt service coverage ratio |
| work_keys_str_mv | AT achsanina financialdistressanalysisatxyzshotelinindonesia AT bandonob financialdistressanalysisatxyzshotelinindonesia AT miranti financialdistressanalysisatxyzshotelinindonesia |