Cookies on HFTP Bytes

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

I understand
  • 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.

  • 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.

AHLA Hosts Inaugural ForWard Conference on Women Advancing Hospitality

Lodging Magazine·20 November 2018
Last week, about 200 women and a handful of men gathered at The Kimpton Gray in Chicago for the American Hotel & Lodging Association’s (AHLA) inaugural ForWard conference. The theme—“Women Advancing Hospitality”—drew from perspectives of both seasoned hospitality professionals and high-achieving leaders from outside the industry, including keynote speaker Karen Hughes, worldwide vice chair of Burson Cohn & Wolfe. During the two-day event, each of these women shared her own personal experience and advice for rising up in her respective field and making a greater impact on the world.

Study: 44 Percent of Leisure Travelers Plan and Book Last Minute

Lodging Magazine·20 November 2018
According to the U.S. Travel Association, U.S. travelers took about 1.8 billion vacations in 2017. While conventional wisdom would suggest the vast majority of these travelers plan and book their trips a month or more in advance, a new study from advertising agency Hoffman York finds that nearly half are doing so at the last minute. HY surveyed 888 people who took at least one overnight trip over 50 miles away for leisure purposes in the last 12 months.

How Carbon Lighthouse Profitably Reduces the Carbon Footprint of Commercial Real Estate

Lodging Magazine·20 November 2018
Brenden Millstein, CEO and co-founder of Carbon Lighthouse, is undeniably a smart guy. He earned a bachelor’s degree in physics from Harvard and an MS/MBA combining renewable energy, energy efficiency, and business from Stanford. While some may regard his goal to stop climate change as idealistic, his approach to achieving it is decidedly realistic. “To be viable, climate solutions must be profitable,” he says.

Taking Measures To Keep Housekeepers Safe

Lodging Magazine·20 November 2018
With the Thanksgiving Holiday season upon us, it’s a good time to show gratitude to some of the most important people in hotel operations: housekeepers. Without them, no hotel or lodging facility could keep its doors open.

RLH Corporation Selects IDeaS Revenue Solutions To Optimize Revenue

Lodging Magazine·20 November 2018
RLH Corporation is working with IDeaS Revenue Solutions to optimize revenue. The company plans to align its revenue management, pricing, and yielding insights with marketing and sales to create a more powerful overarching commercial strategy using IDeaS.

A Six-Step Strategy for Increasing Hotel Profitability

Lodging Magazine·19 November 2018
While the rate of revenue growth has slowed nationwide, the U.S. hotel industry has seen increasing profits for eight consecutive years. Hoteliers can narrow the disparity between lagging revenue and increasing profitability by taking proactive measures in management and operations. Here is a six-point strategy that can be used to increase profitability.

Hilton Supply Management Hosts Inaugural Global Supplier Summit

Lodging Magazine·19 November 2018
One of the most common sentiments heard during Hilton Supply Management’s inaugural Global Supplier Summit was that the organization is one of the best-kept secrets in hospitality. Hilton Supply Management (HSM) manages the global procurement of over $5 billion worth of product in more than 90 countries from more than 2,000 global suppliers.

The Importance of Personal Connections When Developing Hotels

Lodging Magazine·19 November 2018
People who work in the hotel industry are typically no strangers to travel. By their very nature, hotels attract people with a passion for adventure and new experiences. This is absolutely the case for hospitality veteran Mike Mueller. Mueller has been with Wyndham Hotels & Resorts—in its various forms—for more than 20 years. He started out in strategic sourcing and partnerships, and more recently, had a decade-long stint in loyalty, ultimately running the Wyndham Rewards loyalty program.

NYU Jonathan M. Tisch Center of Hospitality Creates MS in Event Management

Lodging Magazine·16 November 2018
Over the past two decades, the event industry has undergone a period of rapid growth. As the field has evolved, the need for a specialized, skilled workforce has become increasingly apparent. The U.S. Bureau of Labor Statistics predicts that meeting, convention, and event planners as an occupation will see a higher-than-average growth rate of 10 percent by 2024.

The Evelyn Hotel Completes Guestroom and Public Space Renovation

Lodging Magazine·16 November 2018
Officially relaunching on November 14, 2018, The Evelyn Hotel, part of Triumph Hotels, will emerge from an extensive multimillion-dollar renovation bringing a new hospitality experience to the historic property. With upgrades to guestrooms, three new dining experiences from Chef Jonathan Benno, and an elevated lobby setting, The Evelyn is poised to become NoMad’s newest hotspot.

The Room Key: How to Handle An Angry Guest

Lodging Magazine·16 November 2018
The Room Key is LODGING’s advice column for hoteliers, managers, and team members at all levels of hospitality. Experts will answer questions on everything from operations and F&B to finance and marketing.

How Janine Chicourrat Runs a Hotel That's Constantly Under Construction

Lodging Magazine·15 November 2018
Janine Chicourrat has been the general manager at the Portola Hotel & Spa in Monterey, Calif., for nearly 10 years. For as long as she’s been with the property, she has simultaneously managed both major construction projects and her guests’ experiences. Chicourrat connected with LODGING to talk about how she guarantees guests get a good night’s sleep away from the renovations and shares what she’s most excited about at the Portola Hotel & Spa.

Nashville Hotel Performance Five Years After Opening Music City Center

Lodging Magazine·15 November 2018
Located in the heart of the Nashville central business district (CBD), the Music City Center (MCC) is a $623 million convention center that opened in May 2013. In honor of the MCC’s fifth birthday, we leveraged STR data to conduct a pre- and post-MCC opening analysis to measure its impact on the CBD’s hotel performance.

Budgeting Accuracy: Why U.S. Lodging Performance Fell Short of 2017 Expectations

Lodging Magazine·14 November 2018
In 2017, the actual achieved levels of 
occupancy, average daily rate (ADR), total revenue, and profits for U.S. hotels were less than their respective budgeted amounts. After a five-year period (2011 through 2015) of extremely accurate budget projections, this marks the second consecutive year that owners and operators failed to meet their operating goals.

Third-Tier Growth Spurt

Lodging Magazine·14 November 2018
With suburban hotel performance surpassing the growth rate for urban properties, many hoteliers are turning to secondary and tertiary markets to meet the demand for up-and-coming travel destinations. Among them is the management company Charlestowne Hotels.

MCR and BLT Joint Venture Close $647.5 Million Portfolio Financing for 53 Hotels

Lodging Magazine·13 November 2018
A joint venture of MCR and Building and Land Technology (BLT) has completed a $647.5 million financing across a 5,958-guestroom national portfolio of 53 Marriott and Hilton select-service and extended-stay hotels spanning 15 states and 31 markets. Thirty-three of the hotels are Marriott-branded, while 20 properties operate under Hilton brands. On average, the portfolio’s hotels are 12 years old and generate RevPAR of $90 and RevPAR Index of 120 percent.

Six Trending Design Materials for 2019

Lodging Magazine·13 November 2018
If the patterns designers are seeing now continue to hold true, the hotel industry is in for a year of bold saturations, cork acoustical elements, and an increase of integrated biophilia. Below are six trends in design materials that the hotel industry can expect to see in 2019.

Check Out The Yachtsman Hotel & Marina Club Guestroom

Lodging Magazine·12 November 2018
The recently renovated Yachtsman Hotel & Marina Club in Kennebunkport, Maine, aims to make guests feel like private yacht club members. Each of the 30 guestrooms—called bungalows—offer customizable amenities and accommodations, such as access to kayaks, canoes, and equipment rentals in partnership with the Kennebunkport Marina. With a beach vacation vibe, the bungalows have high ceilings to create an airy aesthetic, and are paired with a nautical, Caribbean color palette to brighten up the space. Boutique furnishings further give the property a yacht club sense of luxury.

Five Markets With the Most Hotel Construction

Lodging Magazine·12 November 2018
Analysts at Lodging Econometrics recently reported the top five markets with the largest hotel construction pipelines for the third quarter of 2018. The number of hotel projects that are already under construction or scheduled to start construction in the next 12 months total 3,782 projects and 213,798 rooms—a high for the cycle. Reflecting the strong cyclical highs in the pipeline, Lodging Econometrics’ forecast for new hotel openings will continue to rise in 2018 through 2020.

Designing for Mixed-Use Developments: Six Areas to Consider

Lodging Magazine·12 November 2018
Every hotelier is looking for a strong return on investment, and mixed-use development—whether a hotel-condo combo or a hotel with integrated commercial and retail space—is often a safer and more lucrative option. With ample tax incentives, greater geographical flexibility, and ROI data to support the success of mixed-use development in the hotel industry, often times the hardest part of the equation is determining how to design spaces and select outlets that appease such different target audiences.

USA TODAY Names 10 Best Hotel Loyalty Programs for 2018

Lodging Magazine·12 November 2018
USA TODAY recently released its 2018 list for the 10 best hotel loyalty programs. To determine the winners of this year’s USA TODAY 10Best Readers’ Choice Awards, a panel of industry experts nominated loyalty programs, including editors from USA TODAY and, as well as other expert contributors. USA TODAY readers had four weeks to vote online for their favorite program.

Seven Hotels That Have Opened Their Doors to Artists

Lodging Magazine· 9 November 2018
Hotels across the country are incorporating and showcasing art in more ways than ever and increasingly welcoming artists to stay and create at their properties. Here are seven hotels that are supporting artists of varying mediums through residency programs and art installations.

Choice Hotels Enables 'Book on Google

Lodging Magazine· 8 November 2018
Choice Hotels International has enabled Book on Google, making it possible for travelers to search, select, and reserve hotel rooms at Choice properties in a few clicks by completing a reservation online on Google using their saved Google credentials.

54.3 Million Americans Will Travel This Thanksgiving -- the Most Since 2005

Lodging Magazine· 8 November 2018
AAA projects 54.3 million Americans will journey 50 miles or more away from home this Thanksgiving, a 4.8 percent increase over last year. The 2018 Thanksgiving holiday period—defined as Wednesday, November 21, to Sunday, November 25—will see the highest Thanksgiving travel volume in more than a dozen years (since 2005), with 2.5 million more people taking to the nation’s roads, skies, rails, and waterways compared with last year. For the 48.5 million Americans planning a Thanksgiving road trip, INRIX, a global mobility analytics company, predicts travel times in the most congested cities in the U.S. could be as much as four times longer than a normal trip.

Seven Ways To Effectively Combine Indoor and Outdoor Spaces in Hotels

Lodging Magazine· 8 November 2018
People in the United States, on average, spend about 90 percent of their time indoors, according to the U.S. Environmental Protection Agency. However, this status quo hasn’t necessarily come about through choice, and today’s “indoor generation” is fighting back. Their weapon? Design.

Three Hospitality Leaders on the Role of Revenue Management in Today's Industry

Lodging Magazine· 8 November 2018
At the 2018 Revenue Strategy Summit, hospitality leaders spoke about the role of revenue management in today’s hotel industry.


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