Article 2, Volume 2 Issue 1:

Economic consequence of accounting standards in the hotel industry: lobbying arguments versus expected impact


Núria Arimany-Serrat – (Universitat de Vic)

Àngels Fitó-Bertran – (Universitat Oberta de Catalunya)

Neus Orgaz-Guerrero – (Universitat Oberta de Catalunya


Accounting standards generate economic consequences that can be either intended or unintended. European and US accounting regulators have proposed to capitalize operating leases so that future payments derived from lease contracts are accounted for as debt. As operating leases are an important source of funding for the hotel industry, the sector has lobbied against the proposal. This paper analyses the economic impact on the hotel business of operating lease capitalization, using both hotel operators’ perceptions and quantitative analyses of the expected consequences. Results show that the arguments presented in the hotels’ comment letters are confirmed by the impact predicted. While hotels do not believe that the new standard will improve financial information quality (the intended economic consequence), they expect an increase in debt and reduced profitability (the unintended economic consequences), which may affect their strategies. An early response to this new standard is proposed in order to avoid unintended effects.

Las normas contables generan consecuencias económicas que pueden ser intencionadas o no intencionadas. Los reguladores contables europeos y estadounidenses han propuesto capitalizar los arrendamientos operativos para que los pagos futuros derivados de los contratos de arrendamiento se contabilicen como deuda. Como los arrendamientos operativos son una fuente importante de financiación para la industria hotelera, el sector ha presionado en contra de la propuesta. Este documento analiza el impacto económico en el negocio hotelero de la capitalización de arrendamiento operativo, utilizando tanto las percepciones de los operadores hoteleros como los análisis cuantitativos de las consecuencias esperadas. Los resultados muestran que los argumentos presentados en las cartas de comentarios de los hoteles están confirmados por el impacto previsto. Si bien los hoteles no creen que el nuevo estándar mejore la calidad de la información financiera (la consecuencia económica prevista), esperan un aumento de la deuda y una rentabilidad reducida (las consecuencias económicas no deseadas), lo que puede afectar sus estrategias. Se propone una respuesta temprana a este nuevo estándar para evitar efectos no deseados.


Arimany, N., Fito, M., & Orgaz, N. (2015). Economic consequence of accounting standards in the hotel industry: Lobbying arguments versus expected impact. European Accounting and Management Review, (3).



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