• The Art of Pitching: Is it Overrated - or Essential?

    Pitching… that thing we force notoriously introverted geeks to do for funding. The main idea is that an entrepreneur — unless his name is Elon Musk or Tony Stark — has limited resources and needs the financial support of pockets that are substantially deeper than his own.

  • What to Expect: New Changes Coming to Lease Accounting Standards

    The upcoming revision to lease accounting standards was one of the topics discussed by the HFTP Hotel Advisory Council in their February 2018 meeting. The surprising conclusion from the council: The hotel industry in general is not prepared for the changes, and there is no viable off-the-shelf software that any of the members were aware of that would assist with the accounting for the new standard.

  • HFTP GDPR Guidelines: Hospitality Organization Flow Charts

    This document is a set of flow charts illustrating data flow scenarios, involved parties providing hospitality services, steps of the guest journey and more. Four scenarios are presented: independent hotel, independent hotel with third party agreement, branded hotel and branded hotel with independent control.

  • Job Description Template: Club Accounting Positions

    The HFTP Americas Research Center has developed example job descriptions for club accounting positions. The process involved reviewing sample job descriptions, and compiling the information into standardized job descriptions.

Is the Lodging Industry Ready for a 12th Edition of USALI?

HFTP Connect·26 April 2018
The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) went live on January 1, 2015. This edition presented multiple updates such as changes to the way customers were reported in food outlets, new rooms revenue and demand segmentation, gross versus net reporting, and the addition of a new schedule, Schedule 6 — Information and Telecommunications Systems. There were various other updates, but these were a few that garnered the greatest attention, as they required fundamental shifts in accounting procedures.

What to Expect at HITEC Houston 2018: Elite Education, Exhibits, E20X and More

HFTP Connect·20 April 2018
HOUSTON: A booming cosmopolitan city that is home to more than 2 million Texans, NASA’s famous Johnson Space Center, and — in just two short months — the world’s largest hospitality exhibition HITEC®. In late June, scores of hospitality technology and finance professionals will travel to Texas’ most populous city for first-rate industry education, networking, and an unparalleled expo showcasing the latest in products and services from around the globe. This stellar event hosted by HFTP will take place June 18-21, 2018 at the George R. Brown Convention Center.

HITEC Amsterdam 2018: Why I Will Definitely Be Back

HFTP Connect·19 April 2018
This has been my first HITEC conference, and it has been one of the most informative three days I have had since I entered the world of hospitality a couple of years ago. While I prepared for the conference, I read up on the latest technological innovations, and on startups trying to overthrow OTAs. I read about revenue management and machine learning. Stepping off the plane in Amsterdam, I was confident I had done my homework and was ready to keep up with all the technical conversations I was going to have.

AI and Voice Recognition Explored at HITEC Amsterdam

HFTP Connect·12 April 2018
I have had the pleasure of a front row seat at a very special panel discussion. The hospitality industry’s top tech executives got together at HITEC Amsterdam today to discuss artificial intelligence (AI) and voice recognition. The challenge: to make sense of all of the changes happening in information technology and articulate value-adding solutions for the hospitality industry. How do we turn a land of confusion into a land of opportunity? The panelists had a few secrets to share.

Translation Services: Lost (and Found) in Translation

HFTP Connect·11 April 2018
Here are some dots that you can easily connect: globalization, emerging markets and international travel. You may think “Oh, what a cliché!” Well then, you must have noticed the need skyrocketing for reliable translation, especially if you are in the travel or hospitality industries.

The Art of Pitching: Is it Overrated - or Essential?

HFTP Connect·10 April 2018
Pitching… that thing we force notoriously introverted geeks to do for funding. The main idea is that an entrepreneur — unless his name is Elon Musk or Tony Stark — has limited resources and needs the financial support of pockets that are substantially deeper than his own. If you, as an aspiring business leader, want potential partners and investors to buy into your idea, you need to sell it in a concise, explicit and exciting way to a floor of overconfident, seen-it-all financiers who might not know much about the technical complexities of that next big idea you’re certain to have found. Written By: Sherif Mamdouh, official guest blogger for HITEC® Amsterdam 2018
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Seeking Consulting Services? HFTP has a Consultant Directory, Exclusively for Members

HFTP Connect·29 March 2018
Are you or your business in need of professional consulting services? Did you know HFTP offers members a comprehensive, searchable online consultant directory to help with these needs? It’s true! HFTP has compiled a searchable directory of consultant members. Consultants listed in this directory come from across the globe and specialize in various areas of expertise within the hospitality industry — including accounting, finance, technology, human resources, legal issues, data security, compliance and more.

Escaping the Nor'easter for the Inaugural HFTP Club Summit in New Orleans

HFTP Connect·27 March 2018
When I first learned HFTP® was hosting a new event called the “Club Summit” designed specifically for those of us in the club industry, I knew it was an opportunity I could not miss. When I discovered it was being held in New Orleans, Louisiana, I was done booking my ticket before finishing the sentence. I had the chance to attend two full days of club specific education, network with club vendors, see my HFTP friends from all over the country, meet new people, and most importantly — get out of the cold!

HFTP Members Meet at Rosewood London for Professional Dialogue and Education

HFTP Connect·20 March 2018
Arriving at the Rosewood Hotel London is always a pleasure — especially when greeted by the “hotel dog” Pearl, who even has her own social media presence. A big “Thank you!” to the Rosewood Hotel team for providing an excellent room, facilities and hospitality — and especially to IT Director Barry Thomas, CHTP who set everything up before he rushed off to Hong Kong. The hotel’s manager, Remus Palimaru, introduced the hotel itself (recently the subject of a major article in The Caterer) with an overview of the facilities and of Rosewood’s future development plans.

What to Expect: New Changes Coming to Lease Accounting Standards

HFTP Connect·19 March 2018
The upcoming revision to lease accounting standards was one of the topics discussed by the HFTP Hotel Advisory Council in their February 2018 meeting. The surprising conclusion from the council: The hotel industry in general is not prepared for the changes, and there is no viable off-the-shelf software that any of the members were aware of that would assist with the accounting for the new standard. Written By: Chris Garland, CHAE

Letter From the HFTP Global President: HFTP's Latest Initiatives Fit Nicely into the Overall Picture

HFTP Connect·13 March 2018
When I first assumed my role as president of the HFTP Global board four months ago, my promise was to continue to deliver on those initiatives that have been put forth in the past several years. In addition, I stated that I would work together with the board, councils and HFTP team to address any relevant issue as the year moved forward. I knew that progress would be necessary — no, critical — for success. Written By: Timothy G. Nauss, CHAE

Presenting: The Names You Should Know at HITEC Amsterdam 2018

HFTP Connect· 5 March 2018
Spring should be in full swing when HITEC® Amsterdam 2018 takes place this April — which is just six short weeks away. If you would like to attend HFTP’s European extension to the world’s largest and oldest hospitality exposition and conference brand, the early registration deadline is approaching fast. Register by this Saturday, March 10, 2018 to secure your spot at the best possible price. HITEC Amsterdam debuted last year to immense success, with more than 1,100 hospitality industry professionals from around the globe gathering together to explore the industry’s best practices and latest innovations.
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The Possibilities of Mobile Apps

HFTP Connect· 1 March 2018
A study found that Americans check their phone on average once every 12 minutes. That number may not be accurate for everyone, but you have to admit that the separation anxiety is real — and people have grown dependent on their mobile phones. The hospitality industry, though not always at the forefront of technological innovation, has also recognized the potential of mobile technology.
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Job Searches Do Not Have to be a Pain (There is Help)

HFTP Connect·26 February 2018
Often we dread starting a job search, or conducting a search for a new candidate. As the job seeker, where do you start? As the candidate seeker, where do you start? Do you look online, read the newspaper ads, or ask your friends for leads? We have all been there at one time or another. We expend large amounts of time, money and energy in the process and it can get frustrating. Fear not — there is help. And it is as close as your HFTP member benefits. With HFTP resources and tools at your disposal, your job search can be less of a pain and more of a joy. (Okay, perhaps we are stretching it a bit with the word “joy.”)
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The MSARC 2018: Professional Development on the East Coast, USA

HFTP Connect·22 February 2018
I had the privilege last week of attending the 12th annual HFTP Mid-South Atlantic Regional Conference (MSARC) in Greenville, South Carolina. This is an annual regional conference that is put on by the HFTP Central Carolina, Charlotte-Blue Ridge, South Carolina and Central Virginia chapters, switching locations every year between each region. This was my second MSARC to attend, and it proved to be just as special as last year’s event in Raleigh, North Carolina. Greenville was a great setting for the conference and the Westin Poinsett a wonderful host for our group
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Compensation and Benefits... An Important Combination When Attracting and Retaining Talented Staff

HFTP Connect·16 February 2018
Figuring out the right combination of compensation and benefits is the key to attracting and retaining top talent within your organization. Since 2002, the HFTP Americas Research Center has been tracking trends and publishing the HFTP Compensation and Benefits Survey. The purpose of this survey is to assist industry executives in their daily functions, whether it be setting compensation levels, budgeting for the following year, or analyzing staffing levels.
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What are the Pros and Cons of Contact Center Outsourcing?

HFTP Connect·13 February 2018
Competition for customers is fiercer in the hospitality industry than in any other. As today’s fickle customers come to expect more and more from hospitality service providers, the success of your brand is dependent on providing the best customer experience possible. Because your contact center is the front line of your company’s customer support, the question of whether to outsource any of these activities must be considered carefully, not only from the perspective of your customers, but for its impact on your business operations and the bottom line.

Six Months Later: How E20X Helped Elevate a Startup

HFTP Connect· 9 February 2018
You are here:HomeBlogSix Months Later: How E20X Helped Elevate a Startup February 9, 2018 Six Months Later: How E20X Helped Elevate a Startup Posted by Briana Gilmore HFTP is excited to host its innovation pitch competition Entrepreneur 20X (E20X) again this year at the world’s largest hospitality technology exposition — 2018 HITEC® Amsterdam and HITEC Houston. In anticipation, HFTP was interested to learn what life is like for an E20X award winner after the competition. So, we reached out to Arrivedo Co-Founder & CEO Alonso Franco and his team to find out how things have changed for Arrivedo since receiving the People’s Startup Award during E20X HITEC Toronto in 2017.
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Young Professionals Help Inspire Innovation in the Hospitality Industry

HFTP Connect· 5 February 2018
HFTP is currently seeking young hospitality industry professionals for our new Young Professionals Advisory Council. HFTP is currently seeking young hospitality industry professionals for our new Young Professionals Advisory Council. The Young Professionals Advisory Council encourages young professionals to get involved in HFTP and help foster industry involvement into the future. The intentions of the council are to make recommendations for education topics and contents specific to young professionals in the hospitality industry in the areas of finance and technology, as well as grow young professional membership and involvement in HFTP events.
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Brand-New Club Summit: Reach for Success

HFTP Connect·31 January 2018
In today’s digital age where almost anything you need to know can be found online, you may be asking yourself, “Why should I attend a professional development conference?” Professional conferences are just as important as ever today. The greatest advantage of a conference — like HFTP’s brand-new Club Summit — is the vital opportunity to assemble with a group of club professionals and experts addressing the industry’s most compelling topics all in one place. By attending a conference, you can create meaningful connections with your professional peers, reinvigorate your enthusiasm for your work, develop a stronger skillset, and learn valuable strategies that you can take back to your organization to implement a better future.

Exploring the GHACP: A Valuable Resource for Hospitality Finance Professionals

HFTP Connect·23 January 2018
HFTP has developed a unique resource for the hospitality industry — the Global Hospitality Accounting Common Practices (GHACP). The GHACP is an online resource and guide for hospitality industry accounting practices, which includes four major parts: operating schedules, indextionary, HFTP Global Database and industry common practices.
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The Advisory Advantage: Help Other Professionals Get CHAE or CHTP Certified

HFTP Connect·19 January 2018
Your experience can make a difference! If you are an active CHAE or CHTP designee, you can apply to become an advisor to other professionals seeking to achieve their own HFTP certification designation. HFTP has just launched its new Certification Advisory Program (CAP), designed to assist CHAE and CHTP certification applicants — who have indicated participation in CAP on their respective certification exam application — by assigning them an experienced advisor. The advisor will help and support the candidate in one-to-one interactions, giving them a supplemental review to help with the certification exams.
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Write Your Way In: Become an Official HFTP Event Guest Blogger

HFTP Connect·17 January 2018
Would you like to join us at one of HFTP’s major events coming up this year and take advantage of its valuable education and networking opportunities — registration complimentary of HFTP®? Do you have a penchant for writing and an interest in sharing your experiences? We invite you to become a guest blogger for one of these events in 2018: the brand-new Club Summit, HITEC® Amsterdam, HITEC® Houston, or the Club Hotel & Controllers Conference.
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Readers Beware: 'Let Me Tell You About a Great Opportunity'

HFTP Connect·12 January 2018
As chief operations officer for HFTP, I am tasked with responding to inquiries from our stakeholders, in regards to the validity of solicitations they receive that contain HFTP’s name or event names. During my tenure here, these inquiries have become more frequent over time. While they used to trickle in occasionally right before a big event, now they seem to arrive on an almost-weekly basis.

Letter from the HFTP Global President: A New Year Equals New Possibilities

HFTP Connect· 8 January 2018
Written By: Timothy G. Nauss, CHAE - We are officially in the year 2018. Now is the ideal time to reflect on the successes of the old year, and prepare to make this new year the best one ever. Just as we set goals for ourselves to make us healthier, happier and more successful, HFTP as an organization sets goals each year to better meet the needs of our members and the hospitality industry. As president of HFTP, I am very enthusiastic about all of the possibilities for continued growth and productivity in 2018.
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GDPR in Hospitality: Vendor Compliance Query Template Available to Industry

HFTP Connect· 3 January 2018
As a professional association, Hospitality Financial and Technology Professionals (HFTP®) created a group of hospitality industry experts to develop hospitality-specific guidelines to assist with preparation for General Data Protection Regulation (GDPR) compliance. The HFTP Hospitality DPO/GDPR Task Force and its members have been working on industry awareness along with tools and resources for the industry.

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