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Current Trends in Hospitality Financial Management QQ：1455780998

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Current Trends in Hospitality Financial Management

The value that the growth of the value of hotels stems from the intangible assets more increases (Össtereich, 2006). All the successful factors such as good service, management level, the invisible effects of superior geographical position and good goodwill value can make hotels have other trade incomparable competition advantages in such aspects as manage, the environment, products or service quality, which will bring scale effect, cooperative effect as well as advertising effect. Brand development already becomes the inexorable trend of development of hospitality, such as the Honors Plan in Hilton and Presenting Plan in Marriot, which are all aiming at gaining customer's loyalty so as to obtain the market advantage, reduce the operating cost (Morrison, 2002).

Hospitality industry is different from the general trade, in which the concrete production process disconnects with selling the course (Campos-Soria et al, 2005). The producers (manufacturer) of the general trade will not keep in touch with consumers directly. While, the production processes of hospitality industry and selling course have identity which is unable to cut apart. So, every word and action, every gesture of the producers (the staff) is under the gaze of the guests (consumers) (Össtereich, 2006). The staff's attitude, mental attitude and personal quality are influencing the business activities of hotels and value appreciation directly, so in the hospitality management process, although service is not everything, it is the most important part (Metters et al, 2008). Also, service is the key factor which makes hotels be different from other general trade (Morrison, 2002). As a result, it is keys of value appreciation of hotels to keep higher service quality and excellent service standard.