Hoteles nuevos de 5 estrellas en Madridsu futuro según los tests de Altman
Publisher: Red de Impresión
ISBN: 978-84-942296-2-6
Year of publication: 2014
Pages: 31-56
Congress: Universidad de Sevilla. Facultad de Turismo y Finanzas. Jornadas de Investigación en Turismo (7. 2014. Sevilla)
Type: Conference paper
Abstract
Hotel companies in Spain have highly increased since the 90�s. Talking about Madrid, 13 new 5 stars hotels have been established since then. According to real situation of tourism in Madrid, with a continuous decrease in the number of tourists and rooms occupied since 2008, it is necessary to question how is their future viability going to be, and, specially, if there is a risk of bankrupt. In order to answer our question, we have consider to apply Z1 and Z2 Altman test to financial information of accommodation companies since 2007, and compare results with equity funds for next years. By doing it, we would like to reach a double objective: a) Contrast the quality of financial information for new hotels b) Confirm utility or not of applying Altman tests for those hotels. If not, we will analyze the possibility of creating a model for our purpose.