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
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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
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Name of Site |
Summary and Available Information |
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Provides a variety of information about this industry segment. |
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Gives an overview of this related industry. |
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Links to hospitality education links around the country. |
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“The Resource for Hospitality Professionals sponsored by The Buyer’s Guide” |
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Self explanatory |
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FASB Summaries |
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Information from the AICPA |
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Information from business library |
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Self-explanatory |
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Self-explanatory |
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Self-explanatory |
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Self-explanatory |
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Self-explanatory |
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Self-explanatory |
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Links to CPA Sites |
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Self-explanatory |
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Self-explanatory |
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Self-explanatory |
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Self-explanatory |
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Provides links to various tax sites |
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Self-explanatory |
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Self-explanatory |
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Provides links to various sites |
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Information on publicly traded hotels |
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Information on companies |
B. Trade Associations
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Name |
Address |
Purpose, Goals, Objectives, etc. |
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48, Boulevard de Sebastopol, 75003 |
Non-profit organization which represents industry issues before policymakers, monitors tourism issues, creates programs to serve the industry, etc. |
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1201 New York Ave, NW, #600 |
Represents lodging industry’s business interests on Capitol Hill. It is the largest national trade association for the U.S. hotel and lodging industry. |
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Hotel Tax Executives Committee |
None |
Organization is affiliated with the American Hotel & Lodging Assn.’s governmental affairs unit. |
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1200 G. St. Suite 300 |
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
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Name of Course |
Course Number |
Delivery Method |
Developer of Course and Procedures to Secure Material |
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None |
D. Trade Magazines and Newletters
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Title |
Frequency of Publishing |
Summary of Purpose/Information Included/Availability |
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Monthly |
Subscription is free to industry people. Contains information about the global hotel marketplace. |
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Weekly |
Subscription rate is $295.00/yr. Contains information about the industry’s best practices, insights and trends. |
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Online |
Free. |
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Online |
Free. |
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Weekly |
Subscription rate is $99.00/yr. Contains information about corporate advertising strategies, new products, etc. |
E. Industry Books
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Date of Latest Edition |
Title |
Summary of Contents |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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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. |
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1993 |
Great Advertising Campaigns |
Discusses successful marketing strategies, brand building, etc. |
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1991 |
Internal Control: A Fraud-Prevention Handbook for Hotel and Restaurant Managers by A. Neal Geller, Publisher: |
Self-explanatory. |
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1988 |
Negotiation and Administration of Hotel Management Contracts by James Eyster, Publisher: |
Self-explanatory. |
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Annual |
Thomas Hotel Registry |
Lists companies and their products and brands, d/b/a names and other statistical information. |
F. Internal Revenue Manual Citations
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IRM Section |
Title |
ummary of Information Included |
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None |
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G. AICPA Auditing Standards and Publications
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Date of Issuance |
Title |
Summary of Information Included |
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3/81 |
S45 – Accounting for Franchise Fee Revenue |
Discusses treatment of franchise fee revenue. Since many hotel chains are franchisers, this statement provides guidance. |
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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 |
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1993 |
SOP 93-7 |
Discusses the treatment of advertising costs for financial accounting purposes. |
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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)
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Guide Name |
Number |
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Bed and Breakfasts |
#3149-105, 5/93 TDPS 83186H |
