Can We See the Intangibles? Valuation of Intangible Assets for Publicly Traded Hotel Firms in the United States.

Keywords

valuations, imtangible assets, intangibles, hotel industry, USA, United States, public companies, tangible assets, model usefullness, adjusted income, market value, equity, incremental information, stock markets, revenue management, hospitality management

Abstract

This study provides value estimates for intangible assets of publicly traded hotel firms in the USA. When evaluating a firm's tangible and intangible assets, tests of model usefulness reveal that it is meaningful to decompose adjusted income (AI) into adjusted income derived from intangible assets (AII) and adjusted income derived from tangible assets (AIT). Specifically, a significant difference exists for contributions from AII and AIT to a firm's market value of equity. Further, decomposing AI into AIT and AII releases incremental information to the market. The procedures employed use publicly available information and are easily replicable.

Publication Date

9-1-2010

Original Citation

Hua, N. & Upneja, A. (2010). "Can We See the Intangibles? Valuation of Intangible Assets for Publicly Traded Hotel Firms in the United States." International Journal of Revenue Management. 4(3/4), 306-326.

Number of Pages

306-326

Document Type

Paper

Language

English

Source Title

International Journal of Revenue Management

Volume

4

Issue

3/4

College

Rosen College of Hospitality Management

Location

Rosen College of Hospitality Management

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