Cookies on HFTP Bytes

This site uses cookies to store information on your computer. Some are essential to make our site work; others help us give you the best possible user experience.
By using the site, you consent to the placement of these cookies. However, you can change your cookie settings at any time. Read our Privacy Notice to learn more.

I understand
  • Letter from the HFTP Global President: At the End of the Year, We Reflect on the Best of the Year

    As we prepare to transition to the new HFTP Global board at the 2018 Annual Convention in October, I would like to take the time to reflect on my year serving as HFTP Global president.

  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

  • IT Spending in the Lodging Industry Three-year Analysis: 2015–2017

    By Agnes DeFranco, Ed.D., CHAE; Arlene Ramirez, CHE, CHAE; and Tanya Venegas, MBA, MHM, CHIA. PART II: An analysis of IT spending data in the lodging industry based on reporting in the new USALI Schedule 6 — Information and Telecommunications Systems.

  • HITEC Special: Revenue Strategy: Not Just a Fancy New Name for Revenue Management

    By Cindy Estis Green. A strategic view of revenue calls for proactive business mix planning and decision-making around deployed resources, well beyond reacting to what comes over the transom. Excerpt from the 2018 HITEC Bytes Special Report.

Brand kAAKAO wants a change in EU legislation

mycloud HOSPITALITY·7h
kAAKAO has revolutionised the art of chocolate making with chocolate sweetened with dates that is suitable for vegans, people with allergies, intolerances, and diabetics – one 40g bar of kAAKAO contains as little naturally occurring sugar as one medium sized green apple.

RateGain and Hotelogix join hands to help hotels with real-time distribution

RateGain ·16 October 2018
The partnership would establish a two-way connectivity, where rates and availability from the Hotelogix PMS will automatically be pushed to RezGain, RateGain's Channel Management platform for distribution across all the connected demand partners. Similarly, bookings on OTAs would also get instantaneously updated on Hotelogix PMS delivered through RateGainExpressing his views on this partnership, Apurva Chamaria, Chief Revenue Officer at RateGain said, "This well-reasoned joint effort with Hotelogix indicates our commitment towards partnering with hospitality technology leaders that offer significant value to hotels. Through this association, we aim to offer a premium product to progressive hoteliers globally to help them maximize their business potential available across online platforms."RateGain supports hotels across the globe to ensure real-time centralized distribution, zero overbooking and parity assurance with its Channel Management and DHISCO switch solutions. The company helps 500,000 hotels in over 191 countries in their effort to update rates and inventory across multiple OTAs, instantly. RateGain connects its hotel partners to over 127 leading OTAs and other sales channels.Commenting on this strategic alliance, Prabhash Bhatnagar, Founder at Hotelogix said, "RateGain is a global leader in Distribution technology space. We are excited about this alliance as it helps hotels to move onto the cloud with a comprehensive management and distribution solution."Speaking on the usefulness of this integration, Anastasia D. Vorobyeva, General Manager at Ayurveda Bhavan Center, India said, "We serve to a sizeable number of international patrons and we attract them through 10 OTAs that we are connected to. With this integration, we now get to save time, and it will surely get us more OTA bookings. Plus, it has also ensured zero double-booking that used to result in guest dissatisfaction earlier."About HotelogixHotelogix provides a robust cloud-based Hotel PMS that helps hotels to automate and manage their end-to-end operations with ease. It also assists hotels to drive growth, increase revenue and to enhance their online reputation. The PMS is hosted on Amazon Web Services, and thus offers the much-needed stability and security to hoteliers. The company has rich experience in serving global markets with customers in 100 plus countries including developed geographies such as North America and Europe.About RateGainRateGain is a leading provider of cloud-based innovative solutions for the Travel and Hospitality Industry. RateGain provides the latest technology in rate intelligence, price optimization, seamless electronic distribution, and brand engagement. Founded in 2004, RateGain has 12,000 clients around the globe including hotels, online travel agents, airlines, car rental companies, cruise liners as well as tour operators and wholesalers like IHG, Melia Hotels International, Lufthansa, Expedia, Hertz Corporation,, Carnival Cruise, etc. RateGain processes over 20 billion data point daily from more than 1,000 sites to provide value every day. In 2018, RateGain acquired DHISCO to become the leading, comprehensive travel and hospitality technology distribution platform. Through our unwavering commitment to excellence and our guiding principles, we help hospitality and travel companies make more revenue every day. For more information, please visit StatementsCertain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes',' strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, data services and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptance of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments.

When to limit, share or take risk in hotel development Featured Articles·16 October 2018
As costs escalate and rates and revenue plateau, the risk of development, and who shoulders it, is the subject of lively debate.

Delos, EDGE Partner to Advance Healthy Building Management Systems

green lodging news | By Glenn Hasek·16 October 2018
EDGE Technologies and Delos announced a collaboration to explore the integration of their respective platforms and capabilities toward advancing the deployment of smart-healthy building management systems for commercial buildings. Delos’ DARWIN Wellness Intelligence, paired with EDGE Technologies’ all-inclusive building technology platform, has the potential to deliver the most comprehensive confluence of data, data analytics and real time space optimization to benefit users and owners within the commercial real estate industry.

Positioning: Bringing brand equity to the bank Featured Articles·16 October 2018
Positioning defines the unique value your brand delivers to customers—and every business decision can contribute to or take away from your brand’s equity. A “brand equity bank account” can help fortify your brand and lead to business growth.

Parks Operator Merlin Starts to See Recovery in London Market - Destinations·16 October 2018
It looks like things are starting to turn around for Merlin in its key London market. We'll have to wait until its annual results later this year for the full picture.

Hospitality Financial Leadership - Understanding RevPAR and RevPAR Index

mycloud HOSPITALITY·15 October 2018
It is the cornerstone of the hotel world and rightfully so. It is the product of occupancy and rate smashed together. The acronym stands for “revenue per available room.” In a simple example: If my hotel was 60 percent occupied last night and my average rate was $100, my RevPAR would be $60 (100 x .6). The other way to calculate this would be to take the total rooms in my hotel—in this example it is 500—and divide that by the total room revenue last night.

Aries Capital, LLC And Four Corners Advisors, Inc. Form Strategic Alliance

Hotel Interactive ·15 October 2018
Neil Freeman, chairman and chief executive officer of Aries Capital, LLC, and Michael Shindler, president and chief executive officer of Four Corners Advisors, Inc., are pleased to announce that the two Chicago-based firms have formed a strategic alliance to provide an end-to-end hotel advisory, transaction and financing platform for hotel developers and investors across the United States, Caribbean and other international markets.

SBE CEO Warns of the Wal-Mart Risk in Hospitality

skift Inc. ·12 October 2018
Is it really possible for hotel companies to retain creativity or innovation the bigger they get?That's something the entire hotel industry seems to be asking itself these days, especially in the wake of a number of mergers and acquisitions -- one of which was announced just this Monday when Hyatt broke news of its $480 million acquisition of Two Roads Hospitality.Another deal that closed this week was the one between lifestyle hotel, nightclub, and restaurant company SBE Entertainment Group and French hospitality company AccorHotels on Tuesday. AccorHotels paid $319 million for a 50 percent stake in SBE, and SBE will continue to be run independently by founder and CEO Sam Nazarian. SBE's brands include SLS, Delano, Mondrian, Umami Burger, Katsuya, and Hyde.

Fyre Festival Founder Gets Six Years for $27.4 Million Fraud

mycloud HOSPITALITY·12 October 2018
Most people will remember the images of attendees wandering around a half-built site that surfaced during 2017's Fyre Festival. Those who paid thousands of dollars for tickets will no doubt have little sympathy for the man behind the disaster.

Proactive crisis communication: profiting from the calm before the storm

Hotel F&B·11 October 2018
Crises can derive from humans or natural events. They may or may not be controlled or controllable…BUT YOUR MESSAGE CAN BE!

HFTP Asked the Experts to Address Imminent Issues and Automation in Club Accounting

mycloud HOSPITALITY·11 October 2018
It can be a struggle to keep up with all that is new and changing in club finance. The constant evolution of accounting technology, modifications to tax law, heightened security issues, and a brighter spotlight on workplace ethics is enough to overwhelm any professional trying to stay abreast of the latest industry trends and issues.

Currency Swings Ground Argentine and Brazilian Travelers - Destinations·11 October 2018
The Dow Jones took a nosedive this week which some economist attribute to rising U.S. interest rates. The fall in stocks likely means the Argentine and Brazilian currencies are in for more instability, and that portends storm clouds for long-haul travel.

Avison Young Hospitality Group Discusses Recent Contracts

Hotel Online·11 October 2018
Avison Young Hospitality Group announced today that it has contracted on 12 separate hotel sales over the past several weeks. The properties include three full-service Marriott hotels. The sales also include seven select service hotels that include, three Marriott-branded assets, three Hilton-branded assets, and one Hyatt-branded asset. In addition, the firm has contracted for a historic hotel on the New England coast and a resort hotel and golf course in the north central US.

3 ways advertisers can combat ad fraud in mobile marketing·11 October 2018
Ad fraud has become more common on mobile, with schemes getting ever more sophisticated. Here are three steps to consider for prevention.

Condor Hospitality Trust Launches Strategic Alternatives Process

Hotel F&B Observer·11 October 2018
Condor Hospitality Trust Inc.’s board has initiated a process to evaluate strategic alternatives to enhance shareholder value. This review process, which will be conducted with the assistance of financial and legal advisors, will consider the full range of potential strategic alternatives, which includes but is not limited to, acquisitions, business combinations, joint ventures, public and private capital raises, recapitalization, and sale transaction options.

What Hotels Can Do To Prepare for AAA Inspections

Lodging Magazine·11 October 2018
What can hotel managers do to prepare for their first or next unscheduled AAA inspection? “Since there are no secrets about how AAA inspections are conducted, planning ahead is within grasp of all hoteliers,” says Michael Petrone, AAA’s director of Inspections and Diamond Ratings.

Eye on the Storm: Proactively Protecting Property and People

Lodging Magazine·11 October 2018
When your property is located in a risky location—such as on Baltimore’s Inner Harbor—it makes sense to get ahead of the weather forecast and be prepared to spring into action before, during, and after a hurricane, says Justin Jabara, Meyer and Jabara Hotels’ vice president of development & acquisitions. Jabara says, at MJH, they don’t just talk about the weather—they do something about it. This, he told LODGING, starts with gauging their properties’ vulnerability, tracking the weather event, and adhering to a plan designed to protect their assets, guests, employees, and community.

Service tickets: Changing the way you manage your property

mycloud HOSPITALITY·11 October 2018
Knowing what improvements and repairs need to be made, and doing them quickly, is essential if you want to keep your guests happy. But hospitality professionals have a lot on their plates and can't be everywhere at once, which means that it can be easy for small details to slip through the cracks.

Nor1 Partners with SLS Las Vegas to Optimize Upsell Revenue and Enhance Guest Experience

Nor1 ·11 October 2018
Santa Clara, CA and Las Vegas, NV - SLS Las Vegas Hotel & Casino has signed an agreement to begin utilizing the entire Nor1 Merchandising Platform Product Suite to actively engage their guests throughout their journeys. The Nor1 Merchandising Platform Product Suite is designed to deliver intelligent, personalized, compelling offers to the right guest at the right time and at the right price and includes eStandby Upgrade, eXpress Upgrade, CheckIn Merchandising, and eReach, all powered by Nor1's patented, dynamic decisions intelligence engine PRiME."We are extremely excited to partner with SLS Las Vegas to use our entire Nor1 Merchandising Platform at their distinctive luxury resort and casino," stated Pavan Kapur, Nor1's SVP of Global Gaming. "The ability that our full product suite provides includes the right upsells at the right times during the guest journey, when the guest is contemplating how to make their trip more enjoyable and they're most ready to spend their travel dollars, which is key to enhancing guest experience and maximizing revenue.""The Nor1 Merchandising Platform provides us with the decision intelligence and easy-to-use tools we need to provide smart, personalized, compelling offers to our guests for our premium rooms and services, as well as our on-property amenities such as Restaurants, Spa, Entertainment, and Gaming," said Brian Christensen, VP of Revenue Management, SLS Las Vegas. "Being able to present these opportunities to our guests at the most appropriate times, in a manner that enhances our guests' experiences and satisfaction while maximizing our revenue is a great win-win for all."About Nor1, Inc. Nor1 is the leader in hospitality upgrade, up-sell, and merchandising technology.Headquartered in Silicon Valley with offices across the world, Nor1 provides data-driven pricing and merchandising products that maximize incremental revenues for Hilton, IHG, Radisson Hotel Group, Accor, Wyndham, and other global hotels and resorts.Nor1's real-time pricing and merchandising intelligence engine, PRiME, powers eStandby Upgrade, eXpress Upgrade, CheckIn Merchandising, eReach, and eDirect to recommend the most relevant upgrade to the right guest at the right time for the most optimal price.Our investors include Concur Technologies, Goldman Sachs, and Accel Partners.For more information, please visit SLS Las Vegas SLS Las Vegas is an all-encompassing resort and casino with 1,615 guest rooms and suites in three distinctive towers, over 95,000 square feet of flexible meeting space and a collection of acclaimed restaurants, bars and entertainment venues. The inviting casino occupies 60,000 square feet and features approximately 600 of the latest slot and video poker machines complemented by more than 50 classic table games. An impressive selection of culinary and cocktail offerings include Bazaar Meat by Jose Andres, named "Best Restaurant in Nevada" by Business Insider; Katsuya; Cleo; Umami Burger, Beer Garden & Sports Book; 800 Degrees Neapolitan Pizzeria; Northside Cafe & Chinese Kitchen; The Sayers Club; and The Perq. The resort is also home to The Foundry, an intimate, live entertainment venue. Additionally, SLS houses a sports book operated by global gaming leader, William Hill. For more information about SLS, please visit and stay connected on Facebook, Twitter and Instagram.MEDIA CONTACTS Nor1, Inc.David Hallmanmedia@nor1.comSLS Las VegasThe Publicity

What the next generation of resorts will need

Hotel F&B Observer·10 October 2018
Roger Allen, founder and group CEO of Resources for Leisure Assets, has spent 20 years working on multiple levels of project development in the hospitality and leisure industries, and has become an expert in both wellbeing asset management and project planning through to delivery and operations.

How Marijuana Legalization Impacts Hotels

Hotel Online·10 October 2018
With national legalization of marijuana in Canada coming into effect on October 17, 2018, it raises quite a few lucrative opportunities for hotels to capitalize on this new market, as well as a few cautionary notes. Further, with numerous states already adopting similar policies and even more soon to join the fold, this trend is one you must pay attention to.

Europe's cycle, opportunity frustrates overseas capital Featured Articles·10 October 2018
Foreign capital has not relaxed its laser-focused search on buying European assets, but there is much to hinder it, including buy-sell dynamics, home-soil advantages, a constantly changing economic picture and heightened competition.

California Enacts Two Laws Aimed at Combating Human Trafficking

green lodging news | By Glenn Hasek·10 October 2018
If you operate a hotel or motel in California, you need to be aware of two new laws that help combat human trafficking. The first is Senate Bill (SB) 970. The new law requires hotels and motels subject to the Fair Employment and Housing Act to provide at least 20 minutes of classroom or other effective interactive training and education regarding human trafficking awareness to each employee likely to interact or meet victims of human trafficking. This training must be completed by January 1, 2020 for workers employed as of July 1, 2019, and within six months of hire for workers employed after July 1, 2019.

Avison Young Hospitality Group Debt, Equity and Structured Finance Team Announces Closings

Hotel Online·10 October 2018
Avison Young Hospitality Group announced today that its capital markets team recently closed seven new hotel debt transactions totaling $148,250,000. The Debt, Joint Venture and Structured Capital team is led by Justin Piasecki and John Bralower from the New York Avison Young offices.

Saudi Al Hokair To Build More Hotels In The Saudi Arabian Kingdom Amid Growing Demand

·10 October 2018
Al Hokair Group, one of Saudi Arabia's most respected brands within the hospitality industry sector, aims to further expand in 2019 to address the growing demand in the country. With several new themeparks and other entertainment destinations and the growing religious tourism market sector, the company plans to fast track its plans. The Group currently works with several international Hotel chains that include Hilton, Holiday Inn, Radisson, Inter Continental Hotels Group, Accor International Hotels, Carlson Rezidor Hotel Group and Marriott Hotels Group among several others.Saudi Arabia is currently in the midst of expanding its leisure tourism sector and expects 30 million visitors annually by 2030. According to an industry report by Alpen Capital, the expansion in the hospitality sector is also expected to grow to 541,000 rooms in 2022. Furthermore, a total of 27,281 rooms are expected to enter the market in 2018 alone.


Thank you for subscribing. Your email address has been added to our mailing list.
To subscribe to the Finance Bytes Newsletter please enter your contact details below.
An error occured, please check your input and try again.
I do want to receive the Finance Bytes email newsletter.
By submitting this form, you have read and agreed to the Privacy Notice of HFTP.
You may unsubscribe to these emails at any time.