THE ROAD TO IFRS CONVERGENCE IN THE U.S.: WHAT IT MAY MEAN FOR THE HOSPITALITY INDUSTRY.

The United States decided to implement IFRS for its publicly traded companies. The road map calls for the SEC to decide how to proceed to the mandatory use of IFRS in 2011. Developing a plan around IFRS implementation is becoming increasingly important for hospitality companies. The research institute of Hospitality Financial and Technology Professionals has published a white paper discussing the impact of the convergence of the IFRS on the hospitality industry. The transition from U.S. GAAP to IFRS will certainly cause some challenges for publicly traded lodging companies. The question is whether individual lodging properties, which mainly use USALI as a guide for financial transactions, will be affected by this transition. [ABSTRACT FROM AUTHOR]