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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.

Why does the financial community not value digital innovation at airlines?

PhocusWire·20 March 2019
Lufthansa Innovation Hub used artificial intelligence to analyze the major themes and topics discussed by Wall Street’s banking analysts and the top management executives of five major airlines during 60 earnings calls between 2015 and 2018.

Accommodation providers want brand "hijacking" on Google to be made illegal

PhocusWire·19 March 2019
TheBed and Breakfast Associationis supporting a petition to make bidding by OTAs on a B&B or hotel's name on search engines illegal.

The effect of IPOs on transportation network companies like Uber and Lyft

PhocusWire·19 March 2019
There's good disruption and bad, and plenty of corporate travel buyers will argue whether the disruption in ground transportation by transportation network companies (TNCs) like Uber and Lyft has been good or bad for their travel programs.

HFTP Members Convene for Educational Evening at the Rosewood Hotel in London

Hotel F&B·18 March 2019
It was a pleasure to host the more than 30 HFTP members and delegates who attended the HFTP Members’ Interest meeting at the superb Rosewood Hotel in London last week. While scheduled to begin at 6:00 p.m., it was a good sign when the attendees arrived early and stayed late.

Enhance Your Financial Reporting with the Executive Metrics Report

Hospitality Resources International | Ideas and Information·18 March 2019
Every month the club board, finance committee, general manager, and department heads receive copies of the club’s financial statement made up of the balance sheet and operating statement prepared by the club controller. The intent is to provide all stakeholders with a summary report of the club’s financial performance.

Can you overcome five risks and crate wealth?

BERKONOMICS by Dave Berkus·14 March 2019
Of course, we are speaking of increased valuation of your company when we speak of “wealth.” Especially if you are in the early stage of growing a business, these five risks can and often do derail entrepreneurs before realizing the riches of a great exit. So, let’s examine them and mitigate them. Make you wealthy someday.

Top 5 Mistakes to Avoid When Booking Meetings on the Hill

mycloud HOSPITALITY·14 March 2019
Washington has had the reputation as a good ole boys club for decades. If you weren’t in the inner circle, getting things done on Capitol Hill was an uphill battle, pun intended. However, times are changing. Not only are women taking over a larger portion of the seats at the table, a new wave of representatives is bringing about new opportunities for advancing legislation for associations.

Spotlight on: investing in hotels

Click by booking.com·13 March 2019
Hotel demand continues to rise, and with it, new opportunities for both investors. According to property consultants JLL’s Hotel Investment Outlook 2019, Europe has been particularly strong, with approximately 60% of pipeline rooms under construction in Germany and the UK. In North America, while hotel performance has been increasingly steadily over the past decade, its pipeline has slowed marginally. In Asia, Africa and the Middle East, pipeline as a share of existing hotels has gone up.

Meeting the millennial challenge: how can the travel and hospitality industry respond?

mycloud HOSPITALITY· 8 March 2019
Entrepreneurs and leaders of our industry are well aware of the potential in the millennial demographic. Where they are less sure-footed is around how to cash in on this segment of the market. What is going on and what is needed?

Could you have created a "dirty cap table?"

BERKONOMICS by Dave Berkus· 7 March 2019
Oh, I know. When you started the business, you took investments from friends and family in small amounts just to get you started. Of course, that worked at the time. But…

How to capitalise on a changing industry

Click by booking.com· 6 March 2019
In certain legacy industries, hospitality being one, it’s tempting to feel that there will be plenty of time to adapt to change, but anyone who’s been in the industry during the last 10 years knows that’s not correct. Many disrupting changes have happened a lot faster than most hoteliers and hospitality providers ever thought they would. Today, change moves even faster. More than ever, it’s important to be curious, proactive and embrace perpetual change.

Certify, Chrome River merge in $1B transaction

PhocusWire· 6 March 2019
Business travel management platforms Certify and Chrome River are merging in a transaction valued at more than $1 billion.

BookingPal lands $12M round to boost vacation rental distribution platform

PhocusWire· 4 March 2019
Vacation rental technology specialist BookingPal has raised $12 million in funding. The round was led by Valor Capital Group with Altabix and a “new strategic investor” also participating.

Would you sign a personal guarantee if you have investors?

BERKONOMICS by Dave Berkus·28 February 2019
It’s a fact of life that a banker, lender or lessor will ask for a personal guarantee from the founder or entrepreneur most every time. But what if you’ve diluted your interest from 100% to something less than 50%?

Why 2019 is the Year to Make More Money

Duetto Research Blog·28 February 2019
The hotel industry continues to grow at an unprecedented rate. The latest figures from the UNWTO show international arrivals growing 6% in 2018 to total 1.4 billion. More people want to travel. And more investors and owners are entering the mix, hoping to turn a profit through hotel ownership and operation.

Alternative accommodations now 20% of Booking Holdings' total revenue, company reports in new disclosure

PhocusWire·27 February 2019
For the first time, Booking Holdings is releasing details on Booking.com’s alternative accommodations business as part of its financial report.

Six Things Hoteliers Can Do to Boost Online Hotel ROI

mycloud HOSPITALITY·27 February 2019
No matter how much success a hotel has attracting guests, there is always a need to increase online hotel ROI to earn back the time and money spent on hotel marketing. Here are six steps hoteliers can follow to boost their online ROI.

Write Your Way In: Get in Free to HFTP's Most Exciting Events Coming Up in 2019

Hotel F&B·26 February 2019
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 an interest in sharing your experiences with other hospitality technology and finance professionals?

Peakwork invests in Chinese partner Zhouyou Technology

PhocusWire·25 February 2019
Zhouyou Technology has received an investment from its European partner Peakwork, in a bid to expand dynamic packaging services in China.

NYC Commission on Human Rights Publishes New Guidance On Rights to Wear Hair

Hospitality Labor and Employment Law Blog·22 February 2019
Our colleague Laura A. Stutz at Epstein Becker Green has a post on the Health Employment and Labor Blog that will be of interest to our readers in the hospitality industry: “Race Discrimination on the Basis of Hair Is Illegal in NYC.”

Travelport posts final full-year results ahead of sale to private equity

PhocusWire·22 February 2019
Travelport passed the $2.5 billion annual revenue mark for the first time in its history during 2018. But it will soon head back to the land of private equity ownership.

Hotel analytics series pt 1: Why your reports are not analytics

Hotel Tech Report·22 February 2019
As providers of the leading Business Intelligence (BI) and Analytics platform for the hospitality industry (HotelIQ), at Intelligent Hospitality we’re often asked to replicate existing reports that hotels produce manually.

Oh, go ahead and ask for a five-million-dollar investment in your startup.

BERKONOMICS by Dave Berkus·21 February 2019
I cannot tell you how many times I have seen executive summaries of business plans in which the entrepreneur seeks $5,000,000 to build the business.

Hotel Booking Sites Wrapped For 'Misleading' Sales Practices

mycloud HOSPITALITY·12 February 2019
Seven trending hotel news stories that will impact your hotel Revenue Strategy.

Sabre bullish for the year ahead, rounds out 2018 with revenue close to $4BN

PhocusWire·12 February 2019
Sabre has reported revenue up 4.8% to $923.9 million and net income up almost 3% to $84.4 million in Q4 earnings. The company’s chief executive Sean Menke attributed the “strong financial performance” for the quarter and the year to the strategy it laid out at the beginning of 2018.

Expedia reports double-digit growth in key metrics in 2018, continues international push

PhocusWire· 8 February 2019
Expedia Group finished 2018 on the upswing, reporting double-digit growth in bookings, revenue, adjusted net income and adjusted EBITDA for the full year compared to 2017.

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