IRS Logo
Print - Click this link to Print this page

Hotel Industry Overview - August 2007 - Alternative Issue Resolution Considerations & Industry Resources

LMSB-04-0807-054

"This document is not an official pronouncement of the law or the position of the Service and cannot be used, or cited, or relied upon as such."

Alternative Issue Resolution Considerations

Cost Segregation Studies Relating to Hotel Structures Members of the industry have expressed an interest in developing an industry wide agreement on the treatment of the costs of a building used as a hotel or it may be a good pre-filing candidate.

Industry Resources

A. Websites

Name of Site

Summary and Available Information

Int’l Assn of Amusement Parks and Attractions Provides a variety of information about this industry segment.
Travel Industry Assn of America Gives an overview of this related industry.
Cornell, School of Hotel Admin. Links to hospitality education links around the country.
Hotel Resource “The Resource for Hospitality Professionals sponsored by The Buyer’s Guide”
Int’l Tax Treatment of REITS Self explanatory
FASB Summaries FASB Summaries
AICPA Home Page Information from the AICPA
Rutgers Resources Information from business library
Association for Accounting Administration Self-explanatory
CPA Journal Home Page Self-explanatory
Wall Street Journal Home Page Self-explanatory
Internal Auditing Web Page Self-explanatory
Stock History Self-explanatory
Company Profiles Self-explanatory
Tax and Accounting Sites Links to CPA Sites
Search SEC documents Self-explanatory
SEC home page Self-explanatory
Library of Congress Self-explanatory
Thomas Legislative Research Self-explanatory
TCU Professor-Tax Links Provides links to various tax sites
News Articles Self-explanatory
News Articles Self-explanatory
Tax Gateway Provides links to various sites
Wall Street Research Net Information on publicly traded hotels
Corporate Information Information on companies

B. Trade Associations

Name

Address

Purpose, Goals, Objectives, etc.

International Hotel & Restaurant Assn. 48, Boulevard de Sebastopol, 75003
Paris, France
Non-profit organization which represents industry issues before policymakers, monitors tourism issues, creates programs to serve the industry, etc.
American Hotel & Lodging Assn 1201 New York Ave, NW, #600
Washington, DC 20005-3931
Represents lodging industry’s business interests on Capitol Hill. It is the largest national trade association for the U.S. hotel and lodging industry.
Hotel Tax Executives Committee None Organization is affiliated with the American Hotel & Lodging Assn.’s governmental affairs unit.
Tax Executive Institute 1200 G. St. Suite 300
Washington, DC 20005-3814
A professional organization of business executives who are responsible for taxation matters on an administrative or policymaking level, or whose work is otherwise primarily concerned with the problems of business taxation.

C. IRS and Other Training Courses/Videotapes

Name of Course

Course Number

Delivery Method

Developer of Course and Procedures to Secure Material

None      

D. Trade Magazines and Newsletters

Title

Frequency of Publishing

Summary of Purpose/Information Included/Availability

Hotels Monthly Subscription is free to industry people. Contains information about the global hotel marketplace.
Hotel Business Review Weekly Subscription rate is $295.00/yr. Contains information about the industry’s best practices, insights and trends.
Lodging Magazine Online Free.
Hotel & Motel Management Online Free.
Advertising Age Weekly Subscription rate is $99.00/yr. Contains information about corporate advertising strategies, new products, etc.

E. Industry Books

Date of Latest Edition

Title

Summary of Contents

2004 Hospitality Sales: Selling Smarter by Judy A. Siguaw and David Bojanic, Publisher: Thomson Delmar Learning This book addresses the process of selling in the Hospitality Market.
2004 Hospitality Strategic Management: Concepts and Cases by Jeffrey S. Harrison and Cathy A. Enz, Publisher: Wiley This book provides a practical view of the field. It provides the reader a glimpse into the strategic manager’s role, including acquisition, development, and management of internal resources, in addition to relationships with external stakeholders.
2003 Hospitality Management Accounting by Martin G. Jagels and Michael M. Coltman, Publisher: Wiley As the hospitality industry continues to grow and become more competitive, it must become increasingly profit and cost-conscious in order to maximize revenue and minimize costs. This book combines essential information, illustrative examples, and useful problems and exercises.
2002 Convention Sales and Services, 6th Edition by Milton T. Astroff and James R. Abbey, Publisher: Culinary and Hospitality Industry Publications Services

This book provides a guide in reaching and servicing the meetings market. The book provides a step-by-step process to both sell and service to groups.

 

2001 Hospitality & Travel Marketing by Alastair M. Morrison, Publisher: Delmar The book provides a thorough and current look at marketing theory and techniques for the hospitality industry. It provides a glimpse into the collaborative efforts between hotels, airlines, restaurants and travel agencies.
1995 Hospitality Accounting by William S. Gray, Publisher: Prentice Hall This book addresses the practical accounting requirements for some of the latest developments in hotel operations. It looks at all phases of hospitality accounting and finance from basic recording to long-range projections.
1995 Co-Op Advertising by Bob Houk, available from the Association of National Advertisers The book describes marketing activities, development of marketing budgets, cost controls, marketing jargon, legal considerations for price structures, etc.  Helps the reader understand the motivations and internal procedures relative to marketing strategies.
1993 Great Advertising Campaigns Discusses successful marketing strategies, brand building, etc.
1991 Internal Control: A Fraud-Prevention Handbook for Hotel and Restaurant Managers by A. Neal Geller, Publisher: Self-explanatory.
1988 Negotiation and Administration of Hotel Management Contracts by James Eyster, Publisher: Self-explanatory.
Annual

 

Thomas Hotel Registry

Lists companies and their products and brands, d/b/a names and other statistical information.

F.  Internal Revenue Manual Citations

IRM Section

Title

Summary of Information Included

None    

G.  AICPA Auditing Standards and Publications

Date of Issuance

Title

Summary of Information Included

3/81 S45 – Accounting for Franchise Fee Revenue Discusses treatment of franchise fee revenue.  Since many hotel chains are franchisers, this statement provides guidance.
6/99 S121- Leases Accounting for leases:  Sale-Leaseback Transaction, Involves R/E, Sales-Type Leases of Real Estate- Definition of the lease term and Initial direct costs of direct financing leases-an amendment of FASB ‘s #13, 66, 91
1993 SOP 93-7 Discusses the treatment of advertising costs for financial accounting purposes.
2001 FASB 144 FASB 144 is effective for fiscal years beginning after December 15, 2001.   It provides for asset impairment losses to be recognized for financial accounting purposes

H.  Market Segment Specialization Program (MSSP)

Guide Name

Number

Bed and Breakfasts #3149-105,  5/93  TDPS 83186H

 

Chapter 9 | Table of Contents

Page Last Reviewed or Updated: 05-Mar-2014