EHL · 3 Dec
LVMH is to acquire Tiffany & Co. for $135 per share, in a transaction which will value the entire equity at $16.2 billion. Including net financial liabilities of $0.7 billion, this leads to an implied enterprise value of $16.9 billion for Tiffany, making this the largest acquisition ever made by LVMH.
EHL · 12 Sep
Several reports show the astonishing growth in self workers, contract freelancers and consultants, according to Statista, 10.3% of the working age population is involved in entrepreneurial activities. Alongside this, project task forces are becoming more and more common, and companies are starting to become more agile in their operations, ING's agile transformation started with the 3,500 staff members at group headquarters, Bart Schlatmann: former chief operating officer of ING Netherlands said, "we invested in tearing down walls in buildings to create more open spaces and to allow more informal interaction between employees. We have a very small number of formal meetings; most are informal. The whole atmosphere of the organization is much more that of a tech campus than an old-style traditional bank where people were locked away behind closed doors."
EHL · 3 Dec
Hotel owners increasingly rely on hotel management companies to operate their hotels through formalized hotel management agreements (HMA). Separating ownership and operations supposedly benefits both parties: owners are able to invest in hotel real estate and access the professional operating expertise of hotel management companies, while operators can generate important income streams, expand any brands they may have, and earn profits, all without having to invest in the underlying real estate.
EHL · 3 Dec
While hotels have long used traditional management accounting practices, their use of contemporary strategic management accounting (SMA) techniques has not been as widespread. As researchers, this intrigued us because studies conducted outside the hotel industry had found that the relationship between firm strategy and firm performance was significantly enhanced through the use of SMA techniques.
EHL · 7 Nov
Hotel owners increasingly contract hotel management companies to operate their properties. While extensive research has examined management agreements to determine the balance of power between owners and management companies, little research has investigated the actual role that hotel owners play in property-level decision making. This is perplexing because management companies generally insist that hotel management agreements (HMAs) specifically stipulate that the owner should not seek to influence the hotel's general manager (GM). In other words, in exchange for their services, management companies have generally required owners to relinquish involvement in the hotel's day-to-day business. However, hotel owners are increasingly sophisticated and institutional, suggesting they may not be content to remain uninvolved as individual or single-property owners had previously done.
EHL · 9 Jul
Environmental performance accounting systems have become key in corporate social responsibility (CSR) strategies and are the focus of attention in international business conferences. From the integrated reporting initiative led by the International Integrated Reporting Council to the Environmental P&L published by Kering in 2016, from the 'True Value' accounting methodology published by KMPG in 2014 to the Natural Capital Coalition standard released in 2016, the world is full of environmental accounting initiatives. On paper, setting up an environmental accounting program is attractive because it allows companies to account for their environmental performance - but is it that simple?
EHL · 31 May
New , founder of tech firm Apaleo, said GDPR wasn't taken seriously enough, as had happened with Payment Card Industry (PCI) compliance. "This is a new topic for the industry and very few people understand what it means. There are big risks with that, but the earlier people take it seriously, the better. And I don't see too many hotel groups and hotels which are really taking it very seriously at this point"
EHL · 15 May
Corporate governance has been a hot topic for many years in the US and Europe as corporations, whether in finance or the hospitality industry, grapple with their supervisory structures.
EHL · 26 Mar
When Arnaud Bertrand and Junjun Chen finished their studies at Ecole hôteliere de Lausanne in 2008 they went on to set up HouseTrip, an alternative accommodation start-up which would compete head-to-head with Airbnb and other online travel agencies.
EHL · 21 Dec
Few industries make greater use of part-time and seasonal employees than the hospitality industry. But even as they provide extra hands in busy times and the high season, part-timers and seasonal workers are less likely to consider themselves to be 'insiders', who are generally more willing to suggest improvements or accept additional duties. For this reason, many employers go to some lengths to encourage all employees to regard themselves as insiders (for example, with pep talks or other employee events).