<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1870-9036</journal-id>
<journal-title><![CDATA[El periplo sustentable]]></journal-title>
<abbrev-journal-title><![CDATA[El periplo sustentable]]></abbrev-journal-title>
<issn>1870-9036</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma del Estado de México]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1870-90362017000200056</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Valuación de Hoteles City Express mediante el método de flujos de efectivo descontados]]></article-title>
<article-title xml:lang="en"><![CDATA[Hotels City Express valuation by the method of discounted cash flows]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Demuner Flores]]></surname>
<given-names><![CDATA[María del Rosario]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[López Romero]]></surname>
<given-names><![CDATA[Nancy]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma del Estado de México Facultad de Contaduría y Administración ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Autónoma del Estado de México Facultad de Contaduría y Administración ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<numero>33</numero>
<fpage>56</fpage>
<lpage>80</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1870-90362017000200056&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1870-90362017000200056&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1870-90362017000200056&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El turismo en México es factor de desarrollo y motor de crecimiento, su contribución al Producto Interno Bruto (PIB) nacional proviene especialmente de servicios de alojamiento. El ambiente continuo en el que se desenvuelve la industria hotelera impulsa a sus inversionistas a identificar, analizar e implementar estrategias que generen valor a fin de obtener máximos beneficios económicos. Las empresas en crecimiento, registran aumentos significativos en sus ingresos, empero son vulnerables ante la volatilidad de los mercados que impacta el precio de sus acciones. A fin de cautivar inversionistas deben demostrar su generación de valor; dadas sus características, el método DCF resulta ser el más adecuado. El objetivo es determinar el valor de una empresa en crecimiento para identificar su sobrevaluación o subvaluación. Se realizó un estudio cuantitativo, descriptivo que determinó el valor de HCITY a 2014 con proyección a 2024. El resultado reveló subvaluación de 38% en comparación con el valor de mercado. La identificación de un valor mayor refuerza la confianza del inversionista, que en el caso de empresas en crecimiento, es importante debido a la necesidad de más aportaciones para alcanzar la etapa de madurez.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract In Mexico, the tourism is regarding as a growth factor, its contribution to the GDP specially comes from lodging services. Hotel industry is developed in a highly changeable environment where investors are driven to identify, analyze and establish strategies which furnish value in order to gain maximum economic profits. Businesses in the growth stage, record significant augmentation in their income, nevertheless these are more vulnerable to the market volatility, which impacts its share prices. In order to hold investors, the business shall prove its value creation; due to its featuring, DCF method turns to be the most ideal method. The aim of this research is to determine the value of a growing company in order to identify whether it is overvalued or undervalued. A quantitative, descriptive study was performed in order to determine the value of HCITY for 2014 with a projected period until 2024. The result revealed HCITY is undervalued by 38% in contrast to the market value. A higher value detonate confidence of investors which in the case of growth stage business is vital owing to more contribution neediness in order to reach a mature stage.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Valuación de empresas]]></kwd>
<kwd lng="es"><![CDATA[valoración/valuación de hoteles]]></kwd>
<kwd lng="es"><![CDATA[empresas en crecimiento]]></kwd>
<kwd lng="es"><![CDATA[flujos de efectivo descontados]]></kwd>
<kwd lng="en"><![CDATA[Business valuation]]></kwd>
<kwd lng="en"><![CDATA[hotels appraisement/valuation]]></kwd>
<kwd lng="en"><![CDATA[growing businesses]]></kwd>
<kwd lng="en"><![CDATA[discounted cash flow]]></kwd>
</kwd-group>
</article-meta>
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<year>2003</year>
<publisher-name><![CDATA[Deusto]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
