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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.

U.S. Travelers Are Taking Experience to a Different Level: New Skift Research

skift.com - Hotels·19 March 2019
In its third year, Skift Research's U.S. Experiential Traveler Survey shows us how the modern American traveler has changed and remained constant, revealing important information for travel industry insiders looking to appeal to this market.

U.S. Experiential Traveler Trends 2019: New Skift Research

skift.com - Hotels·12 March 2019
In the third iteration of this survey, we give an in-depth look at how the modern American travelers' values, attitudes, and behaviors have changed or remained constant over time.

Marriott CEO Tells Senators Passport Changes Being Considered After Data Breach

skift.com - Hotels· 7 March 2019
You can see the dilemma that Marriott and other hotels face: Keep passport data strictly at the property level, where management may not be technically adept, or centralize the information where it can be potentially hacked in one fell swoop. CEO Sorenson is leaning toward the local approach. Either way is risky business.

Chase Partners With SBE Hotels to Offer Exclusive Sapphire Card Benefits

skift.com - Hotels· 5 March 2019
A new partnership with SBE hotels will make Chase's Sapphire Preferred card slightly more competitive with American Express and its Platinum line of cards. But SBE's limited footprint and any potential booking cost differences may not be enough to satisfy Chase's most hungry travelers.

Marriott and Accor Each Have a New Partnership With European Football Giants

skift.com - Hotels·21 February 2019
The hotel giants are harnessing the world's favorite sport to get the word out about their new loyalty programs. This is a smart move which should give the brands lots of visibility, and entice soccer fans.

More U.S. Snowbirds Are Favoring Resorts Over Timeshares

skift.com - Hotels·18 February 2019
Forget the timeshare condo. There's a new, cold-weather version of "summering" abroad, if you have the money: Five-star resort properties that are close to the equator.

Wyndham Hotels Still Struggles to Add Improved Rooms in U.S.

skift.com - Hotels·13 February 2019
The hotel conglomerate shouldn't rely too much on one brand to drive domestic growth, but so far that's exactly what's happening.

How Hyatt Is Making Waves: Latest Skift Research Report

skift.com - Hotels·12 February 2019
As earnings season for 2018 results for the hotel companies begins, Skift Research is out with a deep dive report on Hyatt assessing some of the company's key developments. With the company's recent acquisitions in the management space, dispositions of owned real estate, and increased focus on wellness offerings, we think Hyatt is smartly positioning itself for an uncertain future.

Grand Hyatt New York Will Give Way to a New Hotel and Retail Space

skift.com - Hotels· 8 February 2019
Midtown Manhattan is rapidly changing, thanks to new zoning laws, and Trump might be feeling edged out. One of his first big projects is being torn down forever, and who knows -- maybe he'll get nostalgic. There will be taller buildings, and the Grand Central train station will get a facelift.

What Oyo's Latest Results Say About the Business of Budget Hotels

skift.com - Hotels· 7 February 2019
The business of budget hotels is hard, looking at Oyo's latest financial report. But the startup, now five years in operation and bankrolled by SoftBank, appears to have the stamina to reach the breakeven point in the next few years.

Premier Inn Owner Looks to Put Pressure on Independent Hotels

skift.com - Hotels·17 January 2019
Premier Inn owner Whitbread plans to keep investing in its hotel portfolio despite the Brexit-related economic challenges in its core market. The company, which operates almost 800 hotels mainly in the UK, warned of weakness in its UK hotel portfolio outside of London as consumer and business confidence declined during the third quarter.

U.S. Shutdown Is Hurting D.C.-Area Hotels: Will the Pain Spread?

skift.com - Hotels·11 January 2019
There’s been plenty of discussion as to how the current U.S. federal government shutdown is impacting the travel industry — from long security lines at airports to national park closures — but now it appears to be impacting the hotel industry, too, especially those hotels that cater to government-related business travel. “Our performance of revenue per available room (RevPAR) on a month-to-date basis is nearly 20 percent below last year,” said Mark Carrier, president of the B.F. Saul Company Hospitality Group, which owns and operates 16 upscale and extended stay hotels located in the Washington, D.C. area. “We are seeing fairly significant cancellations of groups, some of which are rebooking for the future and others that are not.”

MGM Resorts Embarks on Two-Year Cost-Cutting Plan

skift.com - Hotels· 3 January 2019
MGM Resorts' CEO says it clearly: We're in the last stages of economic expansion this cycle. Hotel chains will begin to prepare themselves for what comes next.

World of Hyatt Loyalty Adds New Milestone Rewards to Attract Wider Audience

skift.com - Hotels·18 December 2018
More perks are coming to lower-level elites in Hyatt's World of Hyatt loyalty program next year thanks to its new Milestone Rewards program.

Expedia to Hoteliers: Vacation Rentals Won't Steal Your Business

skift.com - Hotels· 6 December 2018
Expedia officials can try to assure hoteliers that the rise of alternative accommodations is no big deal for their businesses. But you can be certain that figuring out how to manage this changing dynamic is of paramount concern for all parties involved.

AccorHotels Wants to Buy Out Its Largest Eastern European Franchisee

skift.com - Hotels·27 November 2018
Why go asset light when you can be asset right, or "active asset management" as AccorHotels likes to call it?

Why AccorHotels' Mergers Strategy Is Winning Over Investors: New Skift Research

skift.com - Hotels·27 November 2018
From co-working spaces to restaurant reservations, AccorHotels has demonstrated its willingness to make acquisitions, investments, or strategic partnerships outside of hospitality. It is all in an effort to become an all-in-one experience platform serving consumers no matter what their needs are, and investors seem to like it.

AccorHotels Balances Asset-Light and Acquisition Strategies: New Skift Research Report

skift.com - Hotels·20 November 2018
With the sale of a majority stake in the company's owned and leased hotel business, AccorHotels is a more stable, nimble company, with the ability to pursue additional acquisitions and other strategic initiatives. In our latest research report, we break down what going asset-light means for the company and tackle ways of measuring the success of its M&A strategy.

Democrats to Target Trump's Hotels Business as Part of Wider Investigation

skift.com - Hotels·19 November 2018
Come the new year, we'll likely learn a lot more about President Trump's business empire, including his tourism assets.

U.S. Hotels' Summer Occupancy Saw Second Largest Drop Since Recession

skift.com - Hotels·16 November 2018
The United States thankfully had fewer hurricanes this year. But because of that good news, some hotel markets are posting occupancy drops because fewer people needed them this year. That's likely indicative of how soft those markets were before the storms hit.

How Wellness Hospitality Brands Can Succeed Amid Big-City Chaos

skift.com - Hotels·13 November 2018
Wellness hospitality brands known for their idyllic locations are heading to New York City. Will the temptation of taking a bite out of the Big Apple prove a brand benefit or drawback?

Choice Hotels Sees Room Revenue Hurt by Hurricane Florence

skift.com - Hotels· 8 November 2018
The bigger question the hotel industry is no doubt asking itself is this: Was this third quarter just a one-off? Or was it a sign of tougher times to come?

Video: Travelsify Unveils Hotel Brand DNA to Close the Gap Between Brand Personality and Guest Experiences

skift.com - Hotels· 8 November 2018
Most hotel brands realize that they must strive to close the gap between brand personality and guest experiences to maximize their brand equity and compete. Real-time brand measurement based on guest experiences has become the norm in an accelerated asset-light hotel industry where highly diversified portfolio and new brand acquisitions are calling the shots.

Belmond Sees Slight Takeover Bounce in Third Quarter

skift.com - Hotels· 7 November 2018
Now it's just a wait-and-see approach to see who will snap up Belmond's treasure trove of luxury assets.

Millennium & Copthorne Blames Struggles on Rising Costs in Hospitality

skift.com - Hotels· 2 November 2018
The abrupt departure of a CEO and falling profit set off plenty of alarm bells. Will Millennium & Copthorne be able to turn things around, or do its struggles represent the start of a wider industry slowdown?

Trump Organization to Spend $46 Million Expanding Irish Golf Resort

skift.com - Hotels· 2 November 2018
Given the west of Ireland resort has yet to make a profit, the Trump family must be hoping a multi-million dollar investment will pay off sometime in the not too distant future.

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