Financial Leverage and Recession: Consequences for Tourism-Related Operations

Bernard J. McEvoy
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Bernard J. McEvoy: Ryerson Polytechnic University, School of Hospitality and Tourism Management, 350 Victoria Street, Toronto, Ontario, Canada and Fedder & Gurau, Chartered Accountants, Toronto, Canada

Tourism Economics, 1995, vol. 1, issue 2, 107-118

Abstract: This comparative study focuses on the application of financial leverage theory in the recession of the late 1980s and early 1990s. After a brief demonstration of the theory of financial leverage a comparative case study examines its impact in the most recent recessionary period. Two corporations, Four Seasons Hotels and O'Toole's Restaurants had very different leverage movements both before and during the recession. Their experiences are examined in depth and related to financial leverage theory.

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:1:y:1995:i:2:p:107-118

DOI: 10.1177/135481669500100201

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