This second edition contains many new themes and developments, including:
• the essence of the International Financial Reporting Standards (IFRS)
• integration of the changes caused by the evolution of the Uniform System of Accounts for the Lodging Industry (USALI)
• the extension of price elasticity of demand, and addition of income and cross elasticities
• the addition of break-even time (BET) as an additional method of analysing capital investments
Up-to-date and comprehensive coverage, this textbook is essential reading for hospitality management students. Additional study and teaching materials can be found on