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  • 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.

  • Letter from the HFTP Global President: Budgeting and Planning are Integral to Success

    HITEC Houston, which attracted HFTP’s largest event attendance in history, may now be behind us but the year is far from over. At the end of this month on July 28 is the new Club Forum in Sarasota, Florida USA.

  • 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.

Visa, Mastercard Settle Long-Running Fee Suit

CFO Magazine·5h
Visa and Mastercard, along with a number of banks, have agreed to pay $6.2 billion to settle a lawsuit over merchant fees.
Article by Hans Detlefsen

Hotel Underwriting Tips

Hotel Appraisers & Advisors, LLC ·7h
As the owner of a hotel appraisal and advisory company, I get the opportunity to review hundreds of hotel appraisals, feasibility studies, investment pitch books, and offering memoranda each year. One of the things I've learned over the past two decades is that a few small changes in underwriting assumptions can greatly affect how hotel deals looks to investors. If these underwriting assumptions are not carefully considered, then they can represent big pitfalls for investors, appraisers, and others involved in the underwriting process.The following is a list of 12 issues and pitfalls I encounter frequently. This is not intended to be a comprehensive list. But the items on this list often lead to significant flaws in hotel underwriting.New Supply - One of the biggest risks for hotel owners and investors is new supply. If new supply is not adequately addressed in the investor's underwriting, then occupancy projections could end up being way off the mark.Ramp-Up Periods - Most hotels ramp up very quickly in the first one or two years after opening or being renovated. But I have reviewed numerous offering memoranda that show occupancies ramping up for four or five years after an anticipated sale. This can create the illusion that no big changes are assumed in the underwriting. However, it can lead to cash flow projections that are unrealistically high in later years.Declining Expense Projections - Underwriters should carefully review each expense line item they are projecting and compare them to historical expenses. While there can be legitimate reasons to project declines in certain expense line items, this can also sometimes be a red flag for overly optimistic underwriting. If expenses are projected to be lower in the future than they have been in the past, then there needs to be a convincing explanation for why this would happen.Sudden Revenue Growth - When showing a big jump in projected revenues from one year to the next, underwriters should support such projections with specific reasons. I've reviewed countless financial projections that show revenue bumps in excess of 20 percent for a new owner, often with the only explanation being that the new owner is going to have better management. While this may be true in some cases, a good analyst should dig deeper. Are there specific problems with current management and has the new management team identified specific strategies that are likely to produce significant revenue growth?Temporary vs. Stabilized Labor - Hotel underwriters should investigate whether recent financial statements reflect a fully staffed hotel. In a tight labor market, it can be difficult to keep certain hotel positions filled, especially if they are vacated without much notice. From an owner's perspective, this can be a good thing in the short-run, as the reduced expenses from having unfilled positions can increase the hotel's bottom line. However, if extended too long, such strategies can eventually catch up with a property and result in reduced guest scores, poor reviews, or declining morale among staff. Therefore, it is important for underwriters to understand whether there are any temporarily vacant positions that may be causing historical financials to appear artificially better than one should expect during a stabilized year.One-Time Expenses - On the other hand, one-time operating expenses can occasionally make historical financials appear artificially worse than a stabilized year. So, underwriters also need to research whether any of the expenses shown in historical financial statements are unusually high and temporary.Defining the Competitive Set - When underwriting proposed new hotels, it is important to consider which existing hotels are defined as the proposed hotel's competitive set. If you are building an upper-midscale hotel and all the hotels in your competitive set are in the upscale chain scale, then underwriters need to factor this into how they position the projected average daily rate (ADR) for the subject hotel relative to the competitive set. Don't automatically assume that a new hotel will achieve ADR levels in line with existing competitors, especially if the competitive set generally represents a higher or lower chain scale.Holding Period - When underwriting a stabilized hotel, tinkering with the holding period assumption should not affect the projected investment returns. In practice, sometimes analysts adjust the holding period without making appropriate adjustments to other valuation parameters, such as the assumed terminal capitalization rate. This erroneous procedure could produce changes in the calculated returns. If substantial changes in a hotel's value result from changing the holding period assumption, then this could be a red flag.Reversion Assumptions - Seemingly small adjustments to the terminal capitalization rate and inflation assumptions can sometimes have big effects on valuations. Since most hotel cap rate surveys and most inflation surveys exhibit wide ranges of projections, there can be a lot of wiggle room for underwriters, while still remaining inside the ranges shown in national surveys. My advice to hotel analysts and underwriters is to consider your valuation assumptions in aggregate and make sure they make sense together. For example, if EBITDA projections are on the aggressive end of the reasonable range, then discount rates or cap rates should reflect the riskiness of such projections.Capital Deductions - Many hotel acquisitions are planned in conjunction with a property improvement plan (PIP). Even when rebranding is not part of the strategy, hotel companies often require a PIP simply to maintain the existing flag. Underestimating the cost of these PIPs, or other necessary renovations, is one of the biggest potential pitfalls for investors considering a hotel acquisition.Replacement Reserve and Management Fees - Hotel owners account for replacement reserves in varying ways. And some hotels that are owner-operated may not incur management fees. Most hotel cap rate surveys assume a replacement reserve and professional hotel management. Similarly, most hotel financial projections assume stabilized occupancies and ADRs; ongoing capital improvements and renovations will be needed to achieve such stabilized performance. As such, hotel underwriters should reflect appropriate expenses for replacement reserves and management fees.Franchise Term - Strong branding and reservation systems often contribute to a hotel's success. Therefore, it is important to understand the length and terms of a hotel's franchise agreement. Some investors are reluctant to acquire hotels with fewer than 10 years left on a popular franchise agreement. If a hotel's franchise agreement expires and cannot be renewed, an owner may be limited to inferior branding options that will negatively affect revenue and earnings. Therefore, if underwriters don't accurately account for a hotel's franchise term, then their EBITDA and reversion estimates could be seriously flawed.Hotel appraisers, investors, and underwriters typically must make decisions about dozens or hundreds of assumptions throughout the course of analyzing a single hotel deal. The preceding tips are intended to invite additional attention to certain assumptions and topics that frequently lead to flawed analyses. The author welcomes comments and feedback. This report is intended for discussion purposes only and is not intended to be construed as investment advice.

Guidance on Employers' Obligations Under the New York City's Disability Discrimination Laws Issued

Hospitality Labor and Employment Law Blog·7h
Our colleagues Susan Gross Sholinsky, Nancy Gunzenhauser Popper, and Amanda M. Gómez at Epstein Becker Green has a post on the Retail Labor and Employment Law blog that will be of interest to our readers in the hospitality industry: “NYC Commission on Human Rights Issues Guidance on Employers’ Obligations Under the City’s Disability Discrimination Laws.”

Meituan's Hong Kong IPO May Intensify Its Rivalry With Ctrip

skift.com - Digital·19 September 2018
China's travel market is fast-growing enough that it could support a competitor to current leader Ctrip. That day may arrive soon, too, given that Meituan-Dianping is showing surprising traction in hotel booking.

LaSalle Investment Management sees potential in economy London hotel

Hotel Management·18 September 2018
LaSalle Investment Management, a subsidiary of JLL, has bought a 150-room budget hotel in London for £40 million from a syndicate of private investors.

Quantifying the lender mindset leads to successful results

Hotel Management·18 September 2018
As a borrower, your goal should be to understand how your lender thinks. With hotel financing more than with other commercial real estate types, it pays to spend time making sense of how your hotel will be perceived. Given that we are late in the financing cycle, one might think that everything is financeable, but that’s not the case. Even if it were, better terms are always available if the lender-borrower match is arranged. Ensuring a congruent relationship is essential.

China Retaliates Against $200B in U.S. Tariffs

CFO Magazine·18 September 2018
China hit back on Tuesday against new U.S. tariffs on $200 billion worth of Chinese exports, further inflaming fears of a full-bore trade war between the two countries.

Hotel Underwriting Tips

Hotel Online·18 September 2018
As the owner of a hotel appraisal and advisory company, I get the opportunity to review hundreds of hotel appraisals, feasibility studies, investment pitch books, and offering memoranda each year. One of the things I’ve learned over the past two decades is that a few small changes in underwriting assumptions can greatly affect how hotel deals looks to investors. If these underwriting assumptions are not carefully considered, then they can represent big pitfalls for investors, appraisers, and others involved in the underwriting process.
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RateGain announces another blockbuster release for its Rate Shopping Solution, Optima

RateGain ·18 September 2018
New Delhi, Sep 18, 2018: RateGain Technologies, a leading hospitality and travel technology solutions company, today announced the launch of an all-new, smart User Interface and Experience for its premier rate shopping tool , Optima, with the introduction of Cluster Dashboard and Smart Shopping. The new, sleek Cluster Dashboard presents all the essential rate shopping data in a visually appealing and descriptive manner. With this set of releases, the users surely will have all the ammunition to power their pricing decision in a single dashboard.Following are the highlights of the release:Cluster Dashboard: View multiple properties in a single dashboard through a highly intuitive interface which enables eyeballing rates across check in dates easier than ever before. The dashboard is equipped with a "Market Positioning Widget" giving you a graphical view of your price positioning vis-a-vis your competitors. A "Market Compression" indicator highlighting dates where you can yield better due to supply in the market going down and much more. All these insights are made available in an excel format as well for a consolidated view across properties.Iterative LOS: Gone are the days when you had to analyse rates across multiple LOSs to check if any of your competitors are putting min. LOS restrictions. With our new smart shopping capabilities, now you can easily identify minimum LOS rate restrictions placed by your competitors for obtaining higher yields on all your channels.According to Bhanu Chopra, CEO, RateGain, "We are pleased to announce the introduction of the new Cluster Dashboard in our rate shopping tool, a unique feature that would help our clients analyse their competition in a quick, comprehensive way so that they respond quickly to the market changes. The launch of Cluster Dashboard is a response to the clients' growing need to have all the important competitive real-time information bundled together at one place, without having the need to switch to different sections. We hope that the new feature adds value and the users make the most of it."Optima is RateGain's advanced rate shopping tool, which offers comprehensive rate intelligence to a growing number of hotels across the globe by efficiently tracking all OTAs, meta-search sites and other leading platforms. The Product had recently introduced a 'Lightning Refresh' feature in Optima, which gave hotels access to real-time competitor rates across various distribution channels.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, Priceline.com, Carnival Cruise, etc. Through our unwavering commitment to excellence and our guiding principles, we help hospitality and travel companies make more revenue every dayForward-Looking 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.
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RLH Corporation Streamlines System Connectivity with Hapi Data Platform

HAPI ·18 September 2018
Orlando, FL - September 18, 2018 - Hapi, a transformative new data streaming, integration and enrichment platform designed to solve the hotel industry's rapidly expanding data management challenges, announces the successful deployment of PMS data connectors developed to support the needs of RLH Corporation (NYSE:RLH). The connectors have been developed in order to link a portion of RLH Corporation's hotels to a new revenue management system, as well as to the company's enterprise data warehouse (EDW)."At RLH Corporation, we give our owners freedom in the way they run their hotels and that includes giving them a choice in the vendors and technology solutions that they choose to implement," said John Edwards, SVP and Chief Information Officer at RLH Corporation. "For our economy brands, we currently have seven approved PMS vendors and two options for central reservation systems. From a corporate perspective, however, this creates challenges in integrating the various systems' data streams which is why we were interested in Hapi."Hapi solved this challenge for RLH Corporation by developing real-time data connectors that normalize data from different PMSs, enrich it and expose it for the company to use in various ways. For example, RLH Corporation can leverage the streams to drive revenue through improved rate management and yielding strategies in real time.In addition to creating added revenue optimization opportunities at the individual hotel level, Hapi also saves a great deal of time and money for RLH Corporation, as the connectors eliminate the need for costly and time-intensive system integrations."A typical system integration in the hospitality technology sector takes approximately 12-18 months to work through, test and deploy," said Luis Segredo, president and CEO of Data Travel, LLC, the developer of the Hapi platform. "We are happy to say that we were able to create the connector for RLH Corporation in about 3 months, from start to finish. This shorter cycle has a domino effect on subsequent integration opportunities. For instance, we were able to layer in the EDW connector, and future connections will be an even smaller effort."RLH Corporation currently has about a dozen hotels on the system and expects to have over 500 hotels deployed by the end of 2018."We are very excited about Hapi's solution and the connectors they have built," continued Edwards. "The ability to normalize data and present it back to the hotels in a way that is actionable is a true game changer for us."For more information, please visit hapicloud.io.

Asset managers like industry's position, direction

hotelnewsnow.com Featured Articles·18 September 2018
Members of the Hospitality Asset Managers Association reveal survey sentiment that predicts continued industry growth while facing a number of challenges and opportunities.

Big Data and Machine Learning Won't Save Us from Another Financial Crisis

harvardbusiness.org·18 September 2018
Ten years on from the financial crisis, stock markets are regularly reaching new highs and volatility levels new lows. The financial industry has enthusiastically and profitably embraced big data and computational algorithms, emboldened by the many triumphs of machine learning. However, it is imperative we question the confidence placed in the new generation of quantitative models, innovations which could, as William Dudley warned, “lead to excess and put the [financial] system at risk.”

Hospitality Financial Leadership: Using Expense Checkbooks

The Hotel Financial Coach ·18 September 2018
I can vividly remember, as a young lad, my dad sitting at the kitchen table paying the monthly bills by check and then updating his checkbook. I remember asking him why he entered the details on the page at the back of the checkbook. He said very clearly, "So we don't spend more than we have and in the bank. If I don't keep track, we will run out of money and I'll end up bouncing a check!"In hospitality, we are all much better off when we use the checkbook system to manage our expenses so we don't run out, and so we don't overspend. The only difference between my dad and your department's expenses is you do not really run out of money like he could, you just go over your budget or forecast. This usually results in some frustration, perhaps even a nasty email or two. The great thing about this situation is it easily can be rectified with a little work on your part. Having and using a checkbook is a great way to get and stay on top of your departmental expenses. Do this and your star is shining.Contrary to common belief a useful and accurate checkbook does not require a computer system and, in many cases, it is much easier to use one without all the hoopla that an online environment creates. All you need is a piece of paper, or better still your trusty Excel sheet.The basic idea about a checkbook is to tell the user what the final position is with your line-by-line expenses and exactly where you are on that path. Specifically, what have you ordered (approved and ordered purchases orders), what has been received (what goods that were received that have invoices or packing slips that were signed and sent to accounts payable), and, finally, what was received that did not have an invoice or packing slip (items that need to be accrued at month end, items that need to be added to the expenses).That's it--a short list--it should look like this:The checkbook must be organized so you have a different list (page) for each general ledger account you are responsible for, e.g., guest supplies, cleaning supplies, paper goods, etc.The first thing to do is make a separate page for each account and put a title on it. Next, populate each sheet with the items you will need to order. Here is where most people tune out, but not you. If you are not sure what to write for the items you need to order then do the following: Write down the items you think you need and as the month starts and you order additional items, write those down on the correct page. If you do this, your list by account will come together very quickly. When you make an order, be sure to write the dollar amount in the "ordered" column. Tip: Add the quantity to the items column with the description. This will be a great help next month.Once the order has been placed, the next step is to simply wait for the items to arrive. When they do you enter the dollar amount in the "arrived" column. Normally, items arrive with an invoice or packing slip. Make sure you see this and sign it, and I also recommend you make a photocopy for your records. The signed slip will either go to the receiving department or it will be your job to get it to the accounts payable person. When this happens you write the amount of the goods received into the "invoice signed" column. If you do this for all the items you order and do the same for any services you order, you have a full checkbook of the items ordered, received and approved for payment.The last step is to accrue any items received that did not have an invoice or a packing slip. All you are doing with the accrual is telling the accounting department that these goods or services were received in the current month and no invoice was received. Using this information, the accounting department will bring these expenses into the current accounting period.Now that you have one month under your belt you are away to the races. You now have a base for all your expense lines. You now know where things go--into which account--and how much you spent. From this point forward, each month you add to your knowledge and accuracy. Do not worry about missing items especially in the beginning, just start and pull your list together.This is the hardest part--the beginning. Remember the golden rule about budgeting and forecasting: The only thing we know for sure is the number we come up with is wrong. That is right. Your forecast will never be perfect. It is always going to be a work in progress but knowing what you ordered, what has come in and what you have signed off on is career gold. You will very quickly organize your departmental expenses and make a name for yourself with the people who can tell the world in your hotel that you have your "$%#@" together.This is what you want, not the chaos that comes from not knowing what is in your expenses. Do not be the one who misses this opportunity to shine.
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Nor1 to Offer Its Upgrade, Upsell, and Merchandising Platform to More Hotels and Resorts Worldwide Through Partnership with HRS

Nor1 ·18 September 2018
Silicon Valley, CA - Nor1, Inc. today announced a distribution partnership with Hospitality & Retail Systems (HRS) to expand its reach to more hotels around the world and enable them to increase RevPAR and ADR through the use of its industry-leading upgrade solutions eStandby Upgrade, eXpress UpgradeTM, and CheckIn MerchandisingTM.Nor1, Inc., the leader in hospitality merchandising technology, services more than one million rooms at more than 5,000 properties that currently benefit from its real-time, data-driven pricing and merchandising solutions powered by PRiME.HRS, a market leader in IT for the hospitality and retail industries and the largest Oracle Hospitality Platinum Partner worldwide, supplies innovative management solutions to more than 3,000 hotels, restaurants, and trading companies around the world."We are extremely pleased and excited to partner with HRS," said Jason G. Bryant, Nor1's Founder and CEO. "HRS's reputation of providing innovative solutions to the hospitality industry and their extensive knowledge and experience with Oracle Opera, make them well-suited to present our suite of upsell products to their hotels and resorts clients.""We are delighted to represent Nor1's industry-leading merchandising platform," stated Joanne Vaughan, CEO at HRS. "Our commitment to providing hotels with the most innovative solutions to improve their performance and increase their bottom line is a perfect fit with Nor1's real-time, data-driven upsell solutions."About Nor1 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 www.nor1.com. About HRSFounded in 1990, HRS was created with the aim of providing a superior customer experience, both for service industry companies and their clients. Now in its 29th year, HRS provides innovative management solutions for: hotels, restaurants, retail chains, stadiums, spas and fitness clubs. HRS has an impressive portfolio of products and services, these include: pre-project analysis, hardware and software supply, strategic IT consulting, solutions implementation and integration, staff training and consulting, 24/7 technical support, plus a wide range of professional customer services. The company has developed an excellent reputation for providing quality services together with a strong global presence. HRS has established itself not just as an IT solution provider but also as a proactive contributor to the hospitality industry.For more information, please contact Oleg Kudrin at okudrin@hrsinternational.com or visit www.hrsinternational.com.

McNeill Hotel Investors Secures Capital Investment Of Up To $150 Million From Almanac Realty Investors

Hotel F&B Observer·18 September 2018
McNeill Hotel Investors (“McNeill”) announced today that it has entered into an agreement with an investment fund managed by Almanac Realty Investors (“Almanac”), under which the fund has committed to provide up to $150 million of capital to McNeill. It is expected that the investment will allow McNeill to double the size of its portfolio through the acquisition, development, and management of select-service hotels using premium-branded flags from the major domestic franchisors located in secondary and select tertiary markets across the United States.

Pebblebrook plans next steps following LaSalle merger

Hotel F&B·17 September 2018
Now that Pebblebrook Hotel Trust will be acquiring LaSalle Hotel Properties, the company’s next move will be to reduce debt by selling as much as $1 billion in assets within six months to a year of the closing.

Australia's iProsperity Group sells Sydney hotel for $54M

Hotel Management·17 September 2018
iProsperity Group, an Australian advisory for high-net-worth Asian investors, has sold its Park Regis Hotel in Sydney’s City Centre to the Yeh Group for $54.18 million.

Man jailed in Italy for selling fake TripAdvisor reviews

theguardian.com ·17 September 2018
A TripAdvisor reviewer has been sentenced to nine months in prison in a landmark fraud ruling by an Italian court.The owner of Promo Salento was convicted of selling fake reviews to hundreds of hospitality businesses across Italy in order to raise their profile on the website. He was also ordered to pay EUR8,000 (PS7,100).The court in Lecce said writing fake reviews under a false identity was a crime under Italian law.

Ares Real Estate Sells Its Stake in Gaylord Rockies Resort & Convention Center for $270 Million

Hotel Online·17 September 2018
September 17, 2018--Ares Management, L.P. (NYSE: ARES) announced today that funds managed by its Real Estate Group have agreed to the sale of its investment in the Gaylord Rockies Resort & Convention Center, a 1,500-room hotel and convention center under construction in Aurora, Colorado.

It's Budget Season... Are You Ready?

Hotel F&B·17 September 2018
According to Hospitality Technology’s 2018 Customer Engagement Technology Study, 65% of guests say they are willing to pay higher rates and are more likely to return to a hotel that offers access to the technology they deem important. Guests’ technology demands for 2019 include having a hotel mobile app with a variety of features, the ability to check-in and out from a mobile device, and high-tech features available in guestrooms. However, travelers aren’t the only people demanding better hotel technology.

NLRB Proposes Rule to Change its Joint-Employer Standard

hotelbusiness.com·Requires Registration ·17 September 2018
The National Labor Relations Board has proposed a rule to change its joint-employer standard. With this change, an employer may be found to be a joint-employer of another employer’s employees only if it possesses and exercises substantial, direct and immediate control over the essential terms and conditions of employment and has done so in a manner that is not limited and routine. Indirect influence and contractual reservations of authority would no longer be sufficient to establish a joint-employer relationship.

U.S. Business Inventories On the Rise Again

CFO Magazine·17 September 2018
U.S. business inventories increased 0.6% in July, according to the latest release from the Commerce Department. The increase was driven in part by a jump in the stock of motor vehicles that was larger than initially estimated.

America's Hoteliers Met with Lawmakers, Aiming to Boost Tourism, Tax Cuts

Hotel F&B Observer·17 September 2018
The American Hotel & Lodging Association (AHLA) and the Asian American Hotel Owners Association (AAHOA) gathered for their two-day 2018 Legislative Action Summit (LAS) in early September as nearly 400 hoteliers from across the country met with lawmakers on Capitol Hill.

Which Acquisitions Will Generate Negative Stock Returns?

CFO Magazine·14 September 2018
If the acquiring company elects to exempt the target from Sarbanes-Oxley Section 404 internal controls attestation, negative stock returns may follow.

Tackling ad fraud: 5 questions advertisers and brands should start asking

Hotel F&B·14 September 2018
Ad fraud runs rampant in our advertising ecosystem, but the good news is there is growing momentum to tackle it at a systemic level. While they're a great start, we need more solid initiatives and participation across the ad chain landscape to really crack the problem. Here are 5 questions you can start asking to help prevent it.

Hotel asset managers remain positive amid labor concerns

Hotel F&B Observer·14 September 2018
In taking the temperature of the current business climate, members of the Hospitality Asset Managers Association recorded a positive outlook among hotel asset managers for the near future, shadowed by rising uncertainty as 2019 approaches.

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