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  • HFTP Research Report: Pre-opening Expenditures in Hospitality

    A study of the pre-opening budget; the timeline for these expenditures; timeline for onboarding of staff; and the selection, installation and training of the technology component. By Agnes DeFranco, Ed.

  • New Global Directors Join the 2018-2019 HFTP Board

    The HFTP 2018-2019 Global Board of Directors was installed during the association's 2018 Annual Convention and introduces new directors Toni Bau, Carson Booth, CHTP and Mark Fancourt. These extensive director profiles give insight into the distinguished professions and personal goals of HFTP's newest association leaders.

  • 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.

U.S. Industrial Output Declines 0.6% in January

mycloud HOSPITALITY·15 February 2019
U.S. industrial production unexpectedly dipped 0.6% in January, with across-the-board weakness raising alarms that the economy has hit a “soft patch.” The decline in output, which appears to reflect rising protectionism and decelerating economic growth around the world, was the first since May 2018. Economists had expected a gain of 1%.

Saudi Arabia Lifts Its Travel Warning for Lebanon

mycloud HOSPITALITY·15 February 2019
Saudi Arabia has lifted a travel warning on Lebanon for its citizens. Gulf tourists used to be the biggest spenders in Lebanon, so it's hopeful news for the beautiful but geopolitically unlucky country.

AHLA Issues Statement on Government Funding Agreement

Lodging Magazine·15 February 2019
President and CEO of the American Hotel & Lodging Association (AHLA) Chip Rogers issued the following statement in response to President Trump signing a deal to fund the government.

Trump Family Blames Politics for Failed Hotels Expansion

mycloud HOSPITALITY·15 February 2019
The Trumps can blame politics, but it's a bad business decision for any hotelier to flag under a controversial brand when there are dozens of others with more robust distribution networks and stronger consumer awareness available to choose from.

Pebblebrook Hotel Trust Completes Sale of the Liaison Capitol Hill

Hotel Online·15 February 2019
Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced that it has closed on the sale of the 343-room, Liaison Capitol Hill in Washington, D.C. for $111.0 million.

The Art and Science of Hotel Brand Valuation

Hotel Online·15 February 2019
Businesses are frequently valued using one or more established approaches across industries and sectors. Their replacement cost, income generation ability and/or comparable sales of similar businesses usually form the basis of such valuations. However, in most cases, a business value using the approaches mentioned herein is largely determined for tangible assets, as they have been regarded as the main source of value creation.

Optimistic for Centennial, Hilton Sees Revenue Spike in Q4

hotelbusiness.com·Requires Registration ·15 February 2019
Hilton Worldwide Holdings Inc. has reported its fourth quarter and full year 2018 results. Earnings increased for the brand while the pipeline slowed a bit in Q4.

Net Revenues, Operating Income Up for MGM in Q4

hotelbusiness.com·Requires Registration ·15 February 2019
MGM Resorts International has reported results for the quarter and year ended Dec. 31, 2018. On Jan. 1, 2018, the company adopted the new revenue recognition accounting standard (ASC 606). As such, certain previously reported 2017 numbers have been retrospectively adjusted under the new standard to assist with comparability to the prior period.

OTA & Travel Distribution Update: Expedia gets tough with United amidstticket-distribution costs battle; Trivago's recent changes may angeradvertisers; U.K. investigation forces changes at Expedia & Booking.com

mycloud HOSPITALITY·15 February 2019
Although several sources reported late Friday that Expedia and United have agreed to temporarily suspend their court battle, Expedia’s willingness to pursue claims against United in the midst of contract negotiations is nonetheless interesting and, perhaps even, telling.

Expedia Had a Less-Is-More Approach to Mergers in 2018

mycloud HOSPITALITY·15 February 2019
Expedia is an opportunistic company, and mergers and acquisitions are part of its DNA. The company has been quiet on this front for the past three years. It is sort of due to make another big splash.

Restaurant365 Expands Accounting Solution

Hospitality Technology Magazine·15 February 2019
Restaurant365, an all-in-one, cloud-based, restaurant-specific accounting, operations and reporting solution, has added two new modules: Bank Direct Connect and Fixed Assets.

Hyatt Is Sticking to Its Asset-Lighter Plan

mycloud HOSPITALITY·14 February 2019
Hyatt CEO Mark Hoplamazian to investors on earnings day: Trust us, the plan is working.

JPMorgan Unveils Blockchain Coin for B2B Payments

mycloud HOSPITALITY·14 February 2019
JPMorgan Chase on Thursday announced a move to speed up the settlement of business-to-business transactions by using digital coins. The largest U.S. bank by assets said its JPM Coin is designed to make instantaneous payments using blockchain technology. The coins will be redeemable for the equivalent amount in U.S. dollars.

Hyatt reports mixed bag for Q4 and 2018

mycloud HOSPITALITY·14 February 2019
Hyatt Hotels Corp. released its fourth-quarter financial results, which reflected some ups and downs that were triggered by the company's acquisition and divestment moves. The quarterly report showed that net income was $44 million, or 40 cents per diluted share, compared to $213 million, or $1.75 per diluted share, in Q4 2017.

Retail Sales Tumble in December

mycloud HOSPITALITY·14 February 2019
U.S. retail sales fell 1.2% month-over-month in December, according to the latest figures from the Commerce Department. It was the largest decline in more than nine years and warned of a sharp drop in economic activity at the end of 2018.

In Q4, Wyndham Sees Significant Revenue Uptick

hotelbusiness.com·Requires Registration ·14 February 2019
Wyndham Hotels & Resorts’ fourth quarter earnings revealed revenues increased 69% compared with fourth quarter 2017, to $527 million. Net income was $43 million for the quarter and adjusted net income was $57 million—a 50% increase over the prior-year quarter.

Hyatt Reports Strong 2018 Results

hotelbusiness.com·Requires Registration ·14 February 2019
Hyatt Hotels Corporation reported that its net income increased 97.5% to $769 million for 2018. Its net income was $44 million, or $0.40 per diluted share, in the fourth quarter of 2018, compared to $213 million, or $1.75 per diluted share, in the fourth quarter of 2017.

Six Takeaways from JLL's 2019 Hotel Investment Outlook

Lodging Magazine·14 February 2019
Global hotel transaction volume reached $68 billion in 2018, but JLL’s 2019 Hotel Investment Outlook predicts that growth will slow in the upcoming year due to uncertainty in trade relations, politics, and economic growth projections. The outlook also predicts that the industry will continue to see the investment strategies of 2018 in the year ahead—including mergers, acquisitions, and joint ventures. Below are six findings from this year’s outlook.

Snow King Resort Hotel In Jackson, WY, Purchased By KDG Capital

Hotel Interactive ·14 February 2019
KDG Capital, a Florida-based real estate private equity firm, has purchased the Snow King Resort Hotelin Jackson, Wyoming. BENCHMARK®, a global hospitality company, will continue to operate and market the 230-room property, located at the foot of Snow King Mountain in the Grand Teton mountains, just minutes from the center of Jackson Hole, Wyoming. KDG plans to invest $5 million in capital improvements to the property. Snow King Resort Hotel is part of Benchmark’s signature Benchmark Resorts & Hotels brand.

Automating Accounting Workflows

Hospitality Technology Magazine·14 February 2019
Automation is a top priority of finance and accounting professionals in 2019. And the reasons are clear: Highly automated accounting—particularly accounts payable (AP)— departments process invoices faster, more accurately, with better control, and at a lower cost than their peers that have little or no automation—a completely manual, paper-laden workflow. It becomes even more useful for multi-unit franchises with a central accounting office.

Hilton's Q4 earnings up, but pipeline slows

Hotel Management·13 February 2019
Hilton Worldwide Holdings released its fourth quarter and full-year 2018 results with some solid numbers: Net income was $225 million for the fourth quarter and $769 million for the full year.

Companies Are Worried About Employee Retention, But Don't Plan to Raise Pay

mycloud HOSPITALITY·13 February 2019
Sixty-six percent of companies said employee retention is a major concern, but a large majority of them don’t plan to raise compensation in a meaningful amount amid concerns the economy might be headed toward a recession, according to a survey from PayScale. Sixty-nine percent of companies said they plan to increase base pay by 3% or less this year, just keeping pace with inflation. Nineteen percent said they planned no base-pay increase at all.

5 Key Reasons Companies Are Wary of AI Adoption

mycloud HOSPITALITY·13 February 2019
Many companies expect in the near future to derive substantial benefits from adopting artificial intelligence-powered technologies. However, they must first overcome some significant obstacles. In a global survey of 300 C-level executives and their direct reports by consulting firm Protiviti, 16% of the respondents say their companies are getting “high” or “very high” value from their investments in AI. But more than three times that many (52%) say they anticipate they will be doing so in two years.

Deal Report: Six Hotel Acquisition and Financing Announcements

Lodging Magazine·13 February 2019
AWH Partners, a privately held real estate investment, development, and management firm, has acquired Topnotch Resort and Spa, a ski lodge at the foot of Mount Mansfield in Stowe, Vermont. Spire Hospitality, AWH’s full-service hospitality management company, is now managing the resort and will immediately implement its repositioning strategy, leveraging Spire’s experience at AWH’s similarly-situated High Peaks Resort in Lake Placid, New York, to drive stronger operating revenues and profit margins.

The Role of Next Gen Venue Technology in Profit Optimisation

4hoteliers.com·13 February 2019
With a brand-new year stretched out ahead of us, the hospitality industry continues its forward momentum towards a more streamlined, personalised and more importantly — optimised — group business landscape for planners and hoteliers alike.

MENA hotels report 6% fall in profit per room for 2018

Hotel Management·12 February 2019
According to the latest data tracking full-service hotels from HotStats, profit per room at hotels in the Middle East and North Africa fell 10.6 percent year-over-year in December and contributed to a 6-percent decline for full-year 2018 as revenues declined and costs grew.

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