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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.

  • Internal Controls and the Important Roles They Play in Eradicating Fraud

    Although I have been preoccupied with getting in the education sessions purely related to hospitality finance, technologies and hotel pre-opening, I made sure to participate in Fun with Fraud and Enchanting Employee Embezzlement in Clubs and Hotels presented by Jerry Trieber, CPA, CHAE, CFE, CFF, CGMA, HFTP Global past president and director of audit services/support at HEI Hotels and Resorts.

  • 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.

HFTP Sells Out Exhibition for Upcoming HITEC Europe 2019 in Palma, Mallorca, Spain

HFTP ·12 March 2019
Hospitality Financial and Technology Professionals (HFTP), an international nonprofit association and producers of the Hospitality Industry Technology Exposition and Conference (HITEC), has sold all exhibit spaces for the upcoming HITEC Europe 2019. A floor plan with a list of participating companies is available on the HITEC Europe website. HITEC Europe will take place from April 9-11 at the Palau de Congressos in Palma, Mallorca, Spain.For companies who were not able to reserve a booth in time, a waiting list for booth space is available with placement given on a first-come, first-served basis. HFTP also offers exhibitor supporter packages for non-exhibiting companies, which grants access to many of the same perks HITEC exhibitors receive - the next best thing to having a booth. Exhibitor supporters receive two full conference registrations, recognition in the HITEC mobile app, as well as recognition at the conference."HITEC Europe in 2019 will be located in the premiere travel destination of Palma, Mallorca a locale with hundreds of hotels and headquarters to numerous hospitality companies," said Carl Weldon, HFTP COO - Europe. "Not only is the island a draw due to its large hospitality market, but the program for HITEC Europe will be a cannot miss event for industry professionals who are involved in the technology operations at hotels, resorts and more."HITEC Europe 2019 brings together thought leaders, practitioners and vendors to cover hospitality technology trends and practices. A highlight to the program is the keynote presentation on Wednesday, April 10 by award-winning futurist Rohit Talwar. Talwar is an entrepreneur and specialist advisor on business transformation, disruptive strategies and radical innovation. Profiled as one the top 10 global future thinkers by the Independent newspaper, his controversial and inspiring keynote speeches enable teams to think differently, act fast and be first to the future.For exhibiting companies, sponsorship opportunities are available for companies to stand out and have their organization name seen by the thousand plus attendees before and after the show. See which opportunities are available and download the marketing kit by visiting the event website.For more information about supporter packages, contact HFTP Sales and Accounts Manager Matt Chambers at matt.chambers@hftp.org or +1 (512) 220-6443.HITEC Europe will be the first of three HITEC events in 2019. The larger HITEC Minneapolis will take place June 17-20 at the Minneapolis Convention Center in Minneapolis, Minnesota USA. HITEC Dubai will take place in November 12-13 at The Festival Arena by Intercontinental at Dubai Festival City in Dubai, UAE.

Meet Minneapolis: Travel to the Twin Cities this Summer for HITEC 2019

HFTP Connect·14 February 2019
We all know that travel can be a real hassle. So, what about a trip makes it worth packing up your suitcase, saying goodbye to your family for the next few days, fighting the airport and staying in a strange city?

HITEC Minneapolis Online Registration and Housing Bureau Open; Opening Keynote Session Announced

HFTP · 7 February 2019
Hospitality Financial and Technology Professionals (HFTP), producers of the world's largest Hospitality Industry Technology Exposition and Conference (HITEC), has announced that attendee registration for its HITEC Minneapolis is now available online, as well as hotel reservations. Annually, HITEC highlights the industry's tech trends and current approach to integrating technology into the hospitality sphere. To set the tone on the first day, award-winning futurist Chris Riddell will present the Opening Keynote, "Beyond Tomorrow -- The Human Revolution." HITEC Minneapolis will be the second, and largest, HITEC event of 2019 and is from June 17-20 at the Minneapolis Convention Center in Minneapolis, Minnesota USA."Annually HITEC provides industry professionals a comprehensive viewpoint on hospitality technology and global business trends, with multiple inputs that offer an extensive understanding on the direction the industry is moving," said HFTP CEO Frank Wolfe. "The education program, exhibition and networking opportunities all deliver an attendee the prospects to find the solutions they are looking for."The Opening Keynote will be presented in the afternoon on June 17, 2019 by Chris Riddell. He is an award winning global futurist and industry recognized inspirational keynote speaker on emerging trends in our hyper connected world. Riddell is a global pattern hunter, discovering and identifying how humans are changing and adapting to high speed change, unlocking insights for businesses and leaders in today's highly disrupted digital world.HITEC Minneapolis has scheduled a full education program planned by the HITEC Minneapolis Advisory Council, a group of industry practitioners and experts. The council is co-chaired by Shannon Knox, vice president of IT Field Services and Strategic Sourcing at Hilton and Justin Taillon, Ph.D., professor and department head at Highline College. The exhibit hall hosts over 350 companies displaying a range of products and services to support the hospitality technology industry.In addition to HITEC Minneapolis, in 2019 HFTP will bring back its two, regional conferences: HITEC Europe and HITEC Dubai. HITEC Europe will take place from April 9-11 at the Palau de Congressos Centre in Palma, Mallorca, Spain. HITEC Dubai will take place in the fall. For more information about HITEC and HFTP's other international activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec.

HFTP Welcomes New Scholars to Middle East Research Center

HFTP · 5 February 2019
Hospitality Financial and Technology Professionals (HFTP) is pleased to continue its partnership with the Emirates Academy of Hospitality Management (EAHM) through the addition of two new scholars to its Middle East Research Center: Mercy Kiprotich and Vladan Pantelic. The HFTP Middle East Research Center, along with the HFTP Americas and Asia Research Centers, are an essential component of HFTP's initiative to provide members with quality new resources and information that advance the global hospitality industry. Kiprotich and Pantelic are currently pursuing their master's degrees and will be delving into research that provides new insights in hospitality management in the United Arab Emirates. Both scholars were carefully selected by EAHM, and will conduct their research under the supervision of Dr. Sanjay Nadkarni, Ph.D, Director of EAHM's Innovation and Research Center.Leading up to their graduate school careers, both Kiprotich and Pantelic boast impressive backgrounds in the industry. "We are fortunate to have Mercy and Vladan join the HFTP Middle East Research Center," said HFTP CEO Frank Wolfe, CAE. "While their futures are bright, their prior industry experiences alone have set them apart from their peers. As research scholars, their contributions will help HFTP advance industry knowledge."Prior to her studies, Kiprotech worked extensively in hospitality, building her international, hands-on experience in event planning, sales performance analysis, and property management. As a graduate student, she is diving into her thesis investigating how Dubai hotels are beginning to leverage blockchain technology.Pantelic, who has vast experience in operations with Jumeirah Hotels & Resorts, will use his knowledge to focus his thesis on the selection of key performance indicators by hotel management in the UAE. HFTP will provide a platform for the dissemination of the scholars' findings through whitepapers and blogs.

Applications Now Open for Positions on the HFTP Global Board and Executive Committee

HFTP ·22 January 2019
Hospitality Financial and Technology Professionals (HFTP) is calling hospitality professionals who are innovative, strategic thinkers to join the association's top leadership. The application process to participate is open for director positions on the HFTP Global Board and the secretary on the HFTP Global Executive Committee. These two bodies represent the highest volunteer positions at the association, advising on the strategic direction of HFTP. The deadline to submit an application is April 1, 2019.The HFTP Board of Directors and Executive Committee meet several times a year in person or virtually to discuss the association's immediate and long-term endeavors. Directors and executive committee members provide valuable input drawing from their expertise as hospitality professionals, offering a perspective of current industry trends and concerns; as well as professional skills.Requirements for HFTP Global directors include any HFTP Principal, Agent, Allied or Education member in good standing is eligible for nomination to the Board of Directors. Any HFTP Principal, Agent, or Education member in good standing that holds one of the HFTP designations -- CHAE or CHTP -- shall be eligible for nomination to an officer position. Allied members are not eligible for nomination to an officer position.Directors serve on the board for three years, with new directors selected annually. Annually a secretary is selected for the HFTP Global Executive Committee.To apply for a director position, visit the HFTP website under the Get Involved tab. To apply for the secretary position, please contact Millicent Gustafson for more information. If you have any questions about the process, contact Millicent Gustafson, HFTP Executive Services Administrator at millicent.gustafson@hftp.org.

Why Hospitality Tech Startups Should Join a Pitch Competition like HFTP's Entrepreneur 20X in 2019

HFTP Connect·17 January 2019
You have brainstormed a brilliant idea to solve an existing problem in today’s complex hospitality industry. You’ve put in the work to turn that idea into a startup business. That may have included creating a team, designing a website and developing your product. Now, what you need involves securing funding, building your contacts and burgeoning your brand to go fully from a successful startup to a straight-up success.

HITEC Europe 2019 Online Registration Open, Keynote Announced

HFTP · 7 January 2019
Hospitality Financial and Technology Professionals (HFTP), producers of Hospitality Industry Technology Exposition & Conference (HITEC), announced that attendee online registration for its third-annual HITEC Europe is now open. The event is the first of three HITEC events in 2019, which bring together thought leaders, practitioners and vendors to cover hospitality technology trends and practices. HITEC Europe will take place from 09-11 April 2019 at the Palau de Congressos in Palma, Mallorca, Spain."HITEC Europe in 2019 will be located in the premiere travel destination of Palma, Mallorca a locale with hundreds of hotels and headquarters to numerous hospitality companies," said Carl Weldon, HFTP COO - Europe. "Not only is the island a draw due to its large hospitality market, but the program for HITEC Europe will be a cannot miss event for industry professionals who are involved in the technology operations at hotels, resorts and more."A highlight to the program is the keynote presentation on Wednesday, 10 April by award-winning futurist Rohit Talwar. Talwar is an entrepreneur and specialist advisor on business transformation, disruptive strategies and radical innovation. Profiled as one the top 10 global future thinkers by the Independent newspaper, his controversial and inspiring keynote speeches enable teams to think differently, act fast and be first to the future."Rohit includes a good mixture in his presentation of technology, as well as management and business strategies to cope with the various disruptors that will be coming our way," said HITEC Europe Advisory Council Chair Derek Wood.HITEC Europe full registration attendees will have access to two full days of education, two full days of exhibits and access to the Entrepreneur 20X (E20X) pre-conference event and Welcome Reception. The full schedule of events is available on the HITEC Europe website.Education. Full registration attendees will have access to two days of educational training and best practices, carefully planned for the European hospitality market by the HITEC Europe Advisory Council, including the keynote presentation.Exhibits. Full Registration attendees, as well as those purchasing an exhibits only attendee pass will have access to two days of exhibits. Do not miss the only opportunity to see a number of new products and high-caliber existing products all in one location. The education program does not conflict with exhibit hours, but attendees will also have access to educational opportunities right on the show floor with the new Spotlight Presentations.View the current HITEC Europe floor plan to see which companies are exhibiting. Stands for the 2019 exhibition are still available for companies interested in participating.Entrepreneur 20X (E20X). This pre-conference event features ambitious, unfunded technology entrepreneurs presenting breakthrough business concepts to a room full of HITEC attendees as well as a panel of expert judges. All HITEC badges, including exhibits-only badges, will have the opportunity to watch some of the most innovative startups the hospitality technology industry has to offer compete in the European version of the globally recognized pitch competition.The application process for participating in the competition is now open through 08 February 2019.In addition to the opening of HITEC Europe registration, the HITEC Europe website offers information on travel and hotel reservations.Following HITEC Europe, HFTP will host the larger HITEC Minneapolis on 17-20 June 2019 in Minneapolis, Minnesota USA. Registration for HITEC Minneapolis is open as well. For more information about HITEC and HFTP's other international activities, contact the HFTP Meetings & Special Events Department at education@hftp.org.

Hospitality Upgrade Selects HFTP as New Partner for the 2019 Executive Vendor Summit

HFTP ·17 December 2018
Hospitality Financial and Technology Professionals (HFTP) has been selected by Hospitality Upgrade to partner for the 15th Annual Executive Vendor Summit founded by Hospitality Upgrade. The annual summit is an invitation-only, two-day conference that offers a rare combination of networking, educational programming and immersive social events for C-level executives from the world's finest hospitality technology suppliers. HFTP is a founding sponsor of the event, and this year is joining its long-time allied partner Hospitality Upgrade to plan and host the event. The 2019 event will be held at the Sonesta Bee Cave Austin on Feb. 26 -March 1, 2019."The Executive Vendor Summit is the world's only hospitality technology supplier invitational event and Hospitality Upgrade has done a phenomenal job by both supplying stellar education and by facilitating a number of hospitality technology companies' mergers, acquisitions and, most importantly, partnerships," said HFTP CEO Frank Wolfe, CAE. "It is such a unique experience for the attendees because they have a chance to learn about the latest happenings in the industry sitting in the same room with their competitors. By combining our organizations' reputations and skill sets, our goal is to provide our supporters a stellar experience."Past attendees include all the major property management companies, including Oracle, Agilysys, Infor, Maestro PMS, ResortSuite and Springer-Miller Systems, among others. Many partnerships have originated directly out of the event. Attendance at the Executive Vendor Summit helps attendees establish critical relationships with peers and focus on the industry's successes, challenges and opportunities. The event offers attendees interactive, high-quality educational sessions along with networking activities designed to encourage teamwork and discussion among participants. Attendees must hold the title of president or similar C-level executive position or hospitality division segment head at a technology company actively involved in the hospitality industry. Attendance is also limited in size to allow participants an optimal learning and networking experience.In addition to its traditional hotel/resort C-level panel discussion, this year's event will offer participants a chance to hear renowned business executives discuss best practices and will expand with a more global audience. It will feature extremely unique social activities germane with a Texas flair."HFTP and the annual HITEC events have an enormous reach to the many technology providers in the hotel world," said Richard Siegel, president and publisher of Hospitality Upgrade. "This year we are pooling our strengths and resources to grow and produce the best Executive Vendor Summit so far and increase our international presence."HFTP and Hospitality Upgrade are long-time allied partners working together to develop hospitality technology information and resources. Hospitality Upgrade is the exclusive technology magazine for HFTP and sponsor of HFTP events such as HITEC and the HFTP Annual Convention. HFTP is a sponsor of Hospitality Upgrade events such as its CIO Summit and the Executive Vendor Summit since its inception.Executives who would like to request an invitation to attend may contact anne@hospitalityupgrade.com. While this is not a "selling" conference, there are limited sponsorship opportunities available to companies who would like to network with this esteemed group of individuals.

HFTP Announces Change in Membership Dues in 2019: What Does This Mean for You?

HFTP Connect· 6 December 2018
While HFTP has seen remarkable growth during the past six years in member benefits, resources, research and professional development events — we have been proud to maintain our membership annual dues at the same rate since 2013. However, with new initiatives and benefits — and simply, with time — comes a rise in costs for the association.

HITEC Dubai 2018 Announces Entrepreneur 20X Competition for Startups

HFTP ·28 November 2018
HITEC Dubai 2018, the Middle East's largest hospitality technology exhibition and conference, has opened a unique opportunity for startups to present their breakthrough business concepts at the show by participating in HFTP's expanding Entrepreneur20X (E20X) competition. The E20X start-up competition at HITEC Dubai will be held on Wednesday, December 5 from 11:50 a.m. to 12:50 p.m. and is open to all attendees.Competitors will receive fabulous exposure and validation from top companies by presenting their ideas to a room full of HITEC attendees, as well as a panel of expert judges including hospitality CIOs, angel investors, serial entrepreneurs and industry insiders. The winner, determined by the judges' panel, will be rewarded the opportunity to pitch at either the HITEC Europe or HITEC Minneapolis E20X competitions in 2019. This includes an exhibition kiosk in the E20X Innovation Lab, two full conference registrations at the corresponding conference, and extensive media coverage via HFTP's BYTES and Pineapplesearch hospitality industry news distribution networks.Frank Wolfe CAE, CEO of HFTP, said, "The E20X competition has been designed to celebrate innovation and entrepreneurship while giving businesses the opportunity to become part of a global network at HITEC Dubai. We are eager to encourage and incentivize such experiments even if it is a work in progress and can be improved by others in the know. We believe it is critical to value innovation and disruption as we move towards the future driven by technology. And startups are at the forefront of this transformation."To qualify for E20X competition, the startup must be less than three years old, have at least a demo version of the product / service, should not have raised more than $100K of investments and have a hospitality solution.HITEC Dubai Advisory Council chairperson Laurent A. Voivenel, senior vice president of Operations and Development for the Middle East, Africa and India for Swiss-Belhotel International, said, "HITEC Dubai is a great platform and vehicle for startups to get the much-needed exposure and recognition by leading players in the industry. Large companies have the resources and the brand reputation, but it is the startups that are fostering major disruptions in our industry due to their innovative ideas and thinking. We are very excited to see those ideas emerge at HITEC Dubai which could possibly become the next big thing."HITEC Dubai will be inaugurated by Dubai Tourism and will give Middle East buyers, currently worth over USD 75 billion, access to the worlds leading technology solution providers and experts in the hospitality sector. Co-produced by Hospitality Financial and Technology Professionals (HFTP) and Naseba, the two-day trade show will be held at the Madinat Jumeirah Dubai.

E20X Amsterdam Judge's Award Winner KITRO Designed Innovative Solution to Combat Food Waste

HFTP Connect·26 November 2018
It takes a truly cutting-edge business concept from a startup to best the competition and take home the coveted Judge’s Award at Entrepreneur 20X (E20X). During E20X Amsterdam in April 2018, that kind of groundbreaking concept was presented by KITRO — a startup company that designed a digital device to alleviate the very real-world problem of global food waste in the hospitality industry.

Dubai Tourism to Inaugurate 'HITEC Dubai 2018'

HFTP ·15 November 2018
HITEC Dubai 2018, the Middle East's largest hospitality technology exhibition and conference, will be inaugurated by Dubai Tourism on 5th December 2018. The annual business-to-business (B2B) exhibition will give Middle East buyers, currently worth over USD 75 billion, access to the world's leading technology solution providers and experts in the hospitality sector.Commenting on the critical role technology is playing in driving tourism, Issam Kazim, CEO, Corporation for Tourism and Commerce Marketing (DCTCM)stated, "Dubai is a global hub of innovation with the ongoing development of technology at the centre of our strategy. Disruptive technologies are creating new opportunities for our industry while reengineering the marketplace, and Dubai is at the forefront of capitalising on these emerging technologies to optimise travellers' journey. We will continue our focus on harnessing the power of data to redefine the customer journey whilst strengthening developments of advanced technology solutions as we invest in entrepreneurship and environmental sustainability that sets a new benchmark for global travel. As such, we are delighted to support HITEC Dubai as the tourism sector continues to lead the way when it comes to evolving technology."Dubai Tourism is the destination partner for HITEC Dubai 2018 that will feature regional and international case studies, thought provoking panel discussions and technology demonstrations from 70+ solution and service providers. Co-produced by Hospitality Financial and Technology Professionals (HFTP) and Naseba, the two-day trade show will be held on 5th and 6th December 2018 at the Madinat Jumeirah Dubai.Frank Wolfe CAE, CEO of HFTP, said: "It's an honour to receive DTCM's endorsement to HITEC Dubai for the second consecutive year and have their CEO Mr. Issam Kazim lead the show's official opening ceremony. DTCM's support reemphasizes the government's commitment to transform the hospitality industry through proactive adoption of innovative and intuitive technology, and further position the UAE as a regional driver of innovation."Few industries have felt the impact of enabling technology like hospitality. HITEC Dubai's Advisory Council Chairperson Laurent A. Voivenel, Senior Vice President, Operations and Development for the Middle East, Africa and India for Swiss-Belhotel International, said, "Technology holds the key to a more advanced, sustainable and smart future which is revolutionising the hospitality sector like every other industry. Tech-savvy tourists are demanding more from hotels and therefore it is essential to give them the enhanced experiences they crave. Internet of Things, Cloud Technology, Virtual Reality, Artificial Intelligence, Robotics, Blockchain, etc are all paving the way for the future of technology in the hospitality sector and HITEC Dubai will give be a great platform to see the latest developments transforming our industry."For more information or to register for HITEC Dubai 2018 visit https://www.hitec-dubai.com/ABOUT NASEBANaseba offers global business facilitation services. The company creates growth opportunities by bringing together people, partners and ideas. It helps clients raise capital, enter new markets, secure partners, close sales and educate workforces. Naseba's goal is to create opportunity and add economic value at every stage of its client's journey. It does this through three key areas: investor services, commercial services and leadership services. Since inception in 2002, Naseba has facilitated deals totalling billions of dollars for its clients. The company has connected over 100,000 global executives through more than 1,000 proprietary business platforms and is an expert in growth markets.About Dubai's Department of Tourism and Commerce Marketing (Dubai Tourism)With the ultimate vision of positioning Dubai as the world's leading tourism destination and commercial hub, Dubai Tourism's mission is to increase the awareness of Dubai among global audiences and to attract tourists and inward investment into the emirate. Dubai Tourism is the principal authority for the planning, supervision, development and marketing of Dubai's tourism sector. It markets and promotes the Emirate's commerce sector, and is responsible for the licensing and classification of all tourism services, including hotels, tour operators and travel agents. Brands and departments within the Dubai Tourism portfolio include Dubai Business Events, Dubai Calendar, and Dubai Festivals and Retail Establishment.

Sold! HFTP Helps 2018 Silent Auction, Special Event Raise More Than $12,000 for Education

HFTP Connect·14 November 2018
HFTP netted more than $12,000 in support of hospitality, finance and technology education through a silent auction and special event that took place at the HFTP 2018 Annual Convention last month.

Participate in the HFTP Entrepreneur 20X Start-up Pitch Competitions in 2019

HFTP · 8 November 2018
Hospitality Financial and Technology Professionals (HFTP), producers of Hospitality Industry Technology Exposition and Conference (HITEC), is currently accepting applications for participants and mentors for its Entrepreneur 20X (E20X) competitions in 2019. The start-up pitch competition for the most innovative, breakout hospitality technologies will be held twice next year: at HITEC Europe on April 9 and at HITEC Minneapolis on June 17. Those interested in either competing or volunteering as a mentor can apply via the E20X website.E20X competing companies will be selected from the field of applicants, who will then pitch their business concepts to a panel of expert judges as well as an audience of HITEC attendees and exhibitors. Prior to the pitching portion of the competition, participants will have the opportunity to meet with a team of mentors who will lend insights, expertise and guidance. The E20X judges' panel will determine the winner of the grand prize, the E20X Judges' Choice Award. Winners will be awarded EUR2,500 EUR at HITEC Europe and $5,000 USD at HITEC Minneapolis.Following the pitch competition, participating companies are able to meet with HITEC attendees to demonstrate their technology in a specially appointed area at the event. Attendees are given a chance to vote for their favorite and select their preferred pitcher to receive the People's Choice award, presented at the conclusion of HITEC.E20X mentor opportunities are available to industry professionals who would like to volunteer and share their knowledge with participants the day of the competition. Day-of mentors will meet face-to-face with participants in a series of pre-booked meetups hours before the E20X competition takes place sharing their experience, answering questions and making invaluable connections."Being an entrepreneur, running your own business, can be challenging in the sense that you are solely making decisions without the guidance of feedback," said HFTP CEO Frank Wolfe. "HFTP's Entrepreneur 20X event gives startups the opportunity to showcase their products, services and ideas in front of a global network of industry peers including investors, c-level experts and a judges' panel that is guaranteed to serve as a steppingstone on your path to success."The presenter application deadline for E20X Europe is February 9, 2019 with a EUR150 fee. The presenter application deadline for E20X Minneapolis is April 1, 2019 with a $250 USD fee.Coming next month is the third of three HITECs in 2018: HITEC Dubai on December 5-6, 2018 at the Madinat Jumeirah in Dubai, UAE. HITEC Europe is April 9-11, 2019 at the Palau de Congressos in Palma, Mallorca, Spain. HITEC Minneapolis is June 17-20, 2019 at the Minneapolis Convention Center in Minneapolis, Minnesota USA. For more information about HFTP's international events, visit www.hftp.org and www.hitec.org or contact the HFTP Meetings & Special Events Department at education@hftp.org.

HFTP 2018-2019 Global Executive Committee and Board of Directors Begin Term

HFTP · 5 November 2018
The 2018-2019 Global Executive Committee and Board of Directors for Hospitality Financial and Technology Professionals (HFTP) have officially begun their term at the start of this month. The association leaders represent a wide variety of segments within the hospitality industry, including: clubs, consulting, hotels, finance, technology and more. The HFTP Global Board volunteers its time and professional expertise to help guide and progress the association to the forefront of the industry as it carries out its strategic plan.The HFTP Global Board is the primary decision-making body of the association. Under its Board's vision, HFTP is able to expand its international reach and address the needs of the hospitality industry at large. The Board ensures the continuity of the association by planning for the future, establishing and reviewing major policies and programs that support the mission of the association, and by ensuring that the association is fiscally sound."The HFTP Global Board looks at the association's big picture strategic goals, and makes sure its current programs and initiatives align with these," said HFTP Global President Scot Campbell, CHTP. "It is an active time for HFTP as it expands its presence internationally and develops and updates industry resources. The Board pursues each of these initiatives only after determining whether they do serve to provide a source of hospitality finance and technology knowledge - HFTP's strategic goal."HFTP 2018-2019 Global Executive Committee members:President: Scot Campbell, CHTP, CTO, North American Concerts - LiveNationVice President: Michael Levie, CHTP, COO, citizenM HotelsTreasurer: Mark Pate Sr., CHAE, CHTP, MBA, Assistant Controller and IT Director, Highpointe Hotel CorporationSecretary: Neil Foster, CHTP, MBA, IT Consultant, Tech-Tonic Hospitality ServicesImmediate Past President: President: Timothy G. Nauss, CHAE, CFO, Macau Studio CityExecutive Advisor: Stephanie Anderson, CHAE, CPA, CGMA, CFO, River Bend Golf & Country ClubHFTP 2018-2019 Global Board of Directors:Director Toni Bau, Director of Finance, Portola Hotel and Spa Read her new director profile.Director Carson Booth, CHTP, CEO, SnapShot GmbH Read his new director profile.Director Cindy Braak, SVP Finance Business Partner, Marriott InternationalDirector Jill Burnett, CHAE, CPA, Controller, Medalist Golf ClubDirector Mark Fancourt, Co-Founder, Testbed.Vegas & TRAVHOTECH * Read his new director profile.Director Md Amirul Islam, CHAE, Assistant Manager of Income Audit, Marriott Autograph CollectionDirector Martha Mazzitelli, CAM, CHAE+, CHTP+, CFO, Bay Colony Shared ServicesDirector Nick Price, CEO, NetSys Technology LimitedDirector Laurie Rozeski, CHAE, MBA, CFO, Wildcat Run Golf & Country ClubDirector Justin Taillon, MBA, PHD, Professor and Department Head, Highline CollegeDirector Derek Wood, Managing Director, Derek Wood Associates LTDEx Officio Frank I. Wolfe, CEO, HFTPUpcoming this year, HFTP will continue to produce three Hospitality Industry Technology Exposition and Conferences (HITEC). The largest is in Minneapolis, Minnesota USA on June 17-20, 2019; plus HITEC Dubai on December 5-6, 2018 and HITEC Europe in Mallorca, Palma, Spain on April 9-11, 2019. Other HFTP conferences include: Club Summit on March 11-12, 2019 in Nashville, Tennessee USA; Club and Hotel Controllers Conference on June 17-19, 2019 in Minneapolis, Minnesota USA; and the Annual Convention on October 23-25, 2019 in Orlando, Florida USA. The association will continue to promote its newsworthy, resourceful web series: HITEC Bytes, HFTP Club Bytes, HFTP Finance Bytes, HFTP F&B Bytes, HFTP GDPR Bytes and HFTP News - as well as its hospitality-specific search engine, PineappleSearch.com.For more information on HFTP leadership and leadership opportunities, contact HFTP Executive Services Administrator Millicent Gustafson at millicent.gustafson@hftp.org or +1 (512) 220-6449.

We Leave a Lot Stronger, both Professionally and Personally

HFTP Connect·31 October 2018
The HFTP 2018 Annual Convention finished with a “grand finale” on Friday night, and what a remarkable event — delicious food and a beautifully decorated ballroom filled with some of the best attendees ever. What a great time, and the perfect ending to a fantastic week!

HFTP Holds Another Successful Annual Convention Defined by Quality Education and Networking

HFTP ·30 October 2018
Hospitality Financial and Technology Professionals (HFTP) members and hospitality industry professionals came together for education and networking at the HFTP Annual Convention last week. This year's convention was held from October 24-26, 2018 at the Omni Louisville Hotel in Louisville, Kentucky USA."The Annual Convention is an example of what HFTP does best, relevant knowledge sharing by its network of hospitality finance and technology professionals," said HFTP CEO Frank Wolfe, CAE. "This year captured that formula exceptionally, with an interesting program that brought attendees up-to-date on a variety of topics and exhibitors that demonstrated useful services and products."The event's education schedule offered attendees the opportunity to choose from 42 sessions on trending industry topics including: the evolving club, disaster planning and recovery, leadership, e-commerce, club accounting, ransomware, data security, hotel and club ethics, internal controls, and more. In traditional HFTP fashion, the Annual Convention featured two keynotes and a general session, attendee networking, and the Annual HFTP business meeting. In addition, 25 exhibitors with industry-related products and services were available to speak with the professionals in attendance.In conjunction with the convention, HFTP held its fourth-annual HFTP Helps program raising over $12,000 that week. Money raised will be donated to Louisville-area NAF programs, a national network of education, business and community leaders who work together to ensure high school students are college, career and future ready. Funds were raised through an online auction which offered a variety of items such as hotel stays and golf games. Also, an evening event hosted by the HFTP Greater Louisville Chapter brought in additional funds, with a portion of the entrance fee directed to HFTP Helps.Annual Convention also represents a time for HFTP to recognize outstanding achievement from individuals and HFTP chapters that embody the success of the association. Below were this year's industry-leading award recipients that were selected by a council of industry colleagues and peers.2018 CHTP of the Year: Sean Van Dyke, CHTP, IT manager at the St Julien Hotel and Spa2018 CHAE of the Year: Elijah Spiritoso, CHAE, controller at Frog Commissary2018 Paragon Award: Anna McFarland, CFE, CHAE, CHTP, CPA, finance consultant with Global Hospitality Consulting2018 Technology Hall of Fame: Tammy Farley, co-founder and president of The Rainmaker Group; Jing Zhu, founder and chairperson of the China Hospitality Technology Alliance (CHTA)2018 President's Award: Christopher Begley, CHTP, IT manager at Hotel Nikko San Francisco2018 HFTP Chapters of the Year: HFTP Monterey Chapter (Tier A: 1-35 members); HFTP Florida Manasota Chapter (Tier B: 36-70 members); HFTP Mid-Florida Chapter (Tier C: 71+ members)2018 HFTP Student Chapter of the Year: HFTP San Jose State University Student ChapterThe association's new 2018-2019 HFTP Global Board were installed during the event's HFTP Annual Tribute to Success evening, and Scot Campbell, CHTP assumed his role as the new HFTP Global President. Pictures from the event are now available in an online gallery.Dates are already set for the next two Annual Conventions: in 2019 it is slated for October 23-25 at the Rosen Centre Hotel in Orlando, Florida USA; and in 2020 it is slated for October 14-16 at the Hyatt Regency Minneapolis.

HFTP and IHG Owners Association Sign Partnership Agreement

HFTP ·26 October 2018
Hospitality Financial and Technology Professionals (HFTP) and InterContinental Hotels Group (IHG) Owners Association recently signed a partnership agreement that will closely connect the two groups in building on the professional development opportunities for IHG Owners Association members, as well as expanding the scope of each other's resources."HFTP and IHG Owners Association are both dedicated to promoting hospitality education in a way that will help shape the future of our ever-evolving industry," said HFTP CEO Frank Wolfe, CAE. "The collaboration that comes with this partnership will support the success of both organizations through exchanging ideas and best practices."The two organizations are member-based associations which benefit from their networks' extensive knowledge base to develop and present educational opportunities, best practices and other resources. Through this agreement as allied partners, IHG Owners Association members will be able to draw from HFTP educational programs and resources to expand their member benefits."This new partnership will provide the IHG Owners Association with greater educational resources for our members, and incremental access to new opportunities in the area of hospitality finance and technology. We are looking forward to both organizations taking full advantage of this partnership, and HFTP coming on board as an allied member of the association," says Don Berg, IHG Owners Association CEO.About IHG Owners Association The IHG Owners Association, originally established by Holiday Inn founder Kemmons Wilson in 1955, was the first association of its kind in the hotel industry. It currently represents the interests of 4,500 owners and operators of more than 3,600 InterContinental Hotels Group (IHG) properties in the United States, Africa, Asia Pacific, Canada, the Caribbean, Greater China, Europe, Latin America, Mexico and the Middle East. The Association is a voice for its members and plays an integral role in communicating with IHG leadership on issues related to franchised hotel operations. The IHG family of brands includes Regent Hotels & Resorts, InterContinental Hotels & Resorts, Kimpton Hotels and Restaurants, Hotel Indigo, EVEN Hotels, HUALUXE Hotels and Resorts, Crowne Plaza Hotels and Resorts, voco, Holiday Inn Hotels and Resorts, Holiday Inn Express, avid hotels, Staybridge Suites and Candlewood Suites. For additional information, visit www.owners.org.

Internal Controls and the Important Roles They Play in Eradicating Fraud

HFTP Connect·25 October 2018
Although I have been preoccupied with getting in the education sessions purely related to hospitality finance, technologies and hotel pre-opening, I made sure to participate in Fun with Fraud and Enchanting Employee Embezzlement in Clubs and Hotels presented by Jerry Trieber, CPA, CHAE, CFE, CFF, CGMA, HFTP Global past president and director of audit services/support at HEI Hotels and Resorts.

HFTP Purchases Rights to the Uniform System of Accounts for the Lodging Industry (USALI)

HFTP ·25 October 2018
Hospitality Financial and Technology Professionals (HFTP) has purchased the copyright to the Uniform System of Accounts for the Lodging Industry (USALI), a resource the association has been connected to since its origins. Widely used internationally, the primary purpose of the USALI is to offer operating statements formatted to provide hotel owners, managers and other interested parties with operational information pertinent to the lodging industry. The USALI was first published in 1926 and is currently in its 11th edition. The copyright was previously owned by the Hotel Association of New York City. The resource is published by the American Hotel & Lodging Educational Institute, and HFTP has been a continuous sponsor and contributor to the publication.The USALI, 11th revised edition was released in January 2015. Revisions to the USALI are overseen by the Financial Management Committee (FMC) of the American Hotel & Lodging Association (AHLA), a majority of which are HFTP members. Although the revision process will not change, HFTP plans to lean on its resources as an international organization to drive greater global adaptation."HFTP's goal is to be a source on finance and technology for the hospitality industry and owning the rights to the USALI, an essential resource used across the industry, aligns directly with this directive," said HFTP Global President Timothy Nauss, CHAE. "With the new ownership responsibility, HFTP will continue to prioritize the evolution of the guidance within the USALI to reflect the changing nature of the hospitality industry."HFTP's existence is due in large part to the establishment of the USALI, when the Hotel Accountants Association of New York met in 1925 to write and publish the book. From that point, the New York group and other state-centered hotel accounting groups moved to organize a national association. It eventually did in 1952 as the National Association of Hotel Accountants, now known as HFTP."The histories of the USALI and HFTP are intertwined, and I am confident HFTP as steward to the financial resource will maintain the USALI's relevance to the industry," said HFTP CEO Frank Wolfe, CAE.

A Series of Must-Read Articles on Cybersecurity Produced by the HFTP Research Centers

HFTP Connect·23 October 2018
Data security remains a pressing concern and top priority for the hospitality industry. The HFTP Research Centers are dedicated to producing findings that can significantly aid hospitality businesses in their efforts to protect their guests’ privacy and personal information against potential cyber threats and attacks.

Don't Forget the Three P's to a Successful Convention: Plan, Prepare and Promote

HFTP Connect·22 October 2018
HFTP 2018 Annual Convention week is here, and we are excited! Louisville, we will be there soon — all geared up and prepared to meet up with some of the greatest people in hospitality.

Be Prepared: Have an Action Plan for Professional Development

HFTP Connect·18 October 2018
I am currently making my travel arrangements for Louisville, Kentucky next week, as are the rest of my fellow HFTP 2018 Annual Convention attendees. The process has brought back memories from the 2017 HFTP Annual Convention in Orlando, Florida — where I was a first-time attendee and first-time guest blogger.

HFTP Compensation and Benefits Report: 2018 Data on Hospitality Staffing and Compensation

HFTP Connect·16 October 2018
The 2018 HFTP Compensation and Benefits Survey was released this summer and made available to HFTP members. This is a biannual report that was developed to provide information on salaries and benefits, and to give an ongoing profile of accounting, finance and technology professionals in the hospitality industry.

Trump Administration Immigration Enforcement Measures Shine Spotlight on Hospitality Industry

HFTP Connect· 3 October 2018
Since taking office, President Trump’s administration has ramped up enforcement measures on various industries – especially when it comes to immigration. The hospitality industry took center stage this month when the U.S. Department of Labor (DOL) and U.S. Citizenship & Immigration Services (USCIS) announced separate, new H-2B enforcement initiatives that are focusing specifically on the hospitality industry. As a reminder, H-2B visas are seasonal visas that are used by several industries, including the hospitality industry, to adequately staff for their peak seasons.

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

HFTP Connect·28 September 2018
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.

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