Microsoft Word 2007 ichrie conference Proceedings Final-Final 06-06-07. doc

 
2007 Annual International CHRIE Conference & Exposition 
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The findings of this study benefit analysts, investors, executives and managers of the lodging industry in 
several ways. First, lodging analysts can use the findings, regarding the capital structure issue for their own analyses 
of individual lodging firms, or the lodging industry as a whole, regarding the capital structure issue. They may use 
the information to assist their analyses to substantiate their lodging industry investment recommendations. Investors 
also can use the information provided by this study for improving investment decisions. Executives and managers 
of lodging firms can use the findings to maximize their firm values by learning, obtaining and maintaining the 
optimum leverage point. However, this study is merely the first step in investigating the optimum leverage point 
issue for the lodging industry. Further analyses are necessary to expand findings on the issue.