Working capital and credit management in hotel establish ment

As a parallel to developments in World tourism, there have been significant developments in Turkish tourism in recent years. These developments have caused new changes in performing the functions of management. The most important one of these changes has been observed in the field of finance. The dissertation comprises of four chapters. First three chapters, have made a theoretical analyses while the fourth chapter has a field study based on a survey. In the first chapter, the management and financial structure of the tourism establishments in general and hotel establishments in particular, have been investigated. In this chapter, it is emphasized that the success of management functions and operations has depended on financial sources. Therefore, the role and importance in the management of hotel establishments has been emphasized as well. In the end of this chapter "the term of financial structure" has been explained and working capital management has been dealt with. In the second chapter, working capital management in hotel establishments (business) have been investigated. In this subject, firstly, the elements, finance and types of working capital have been taken into account. Secondly, optimal combination and determination of the amount of working capital, thus achieving productivity in working capital has been mentioned. Thirdly, the importance of budgets and financial analysis (ratios) as a means of management in working capital management has been emphasized. Then, working capital management policies have been undertaken. Finally, the impacts (effects) of management of cashes, credits and stocks on the management of working capital have been assessed. The third chapter deals with credit management which has on important place in achieving productivity of working capital management. In this subject, achievement of productivity of working capital management in hotel establishments and the importance of accounting function has been emphasized. Finally, the requirement of classification of credits, which will result in an effective monitoring process and auditing of credits within the business, has been mentioned. In the forth chapter, a field study based on survey has been made about achievement of productivity of working capital in hotel establishments.