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
Copyright Status
Unknown
Copyright Date
2010
College
Rosen College of Hospitality Management
Location
Rosen College of Hospitality Management
STARS Citation
Hua, Nan and Upneja, Arun, "Can We See the Intangibles? Valuation of Intangible Assets for Publicly Traded Hotel Firms in the United States." (2010). Faculty Scholarship and Creative Works. 200.
https://stars.library.ucf.edu/ucfscholar/200
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