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
  • 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.

  • Letter from the HFTP Global President: Budgeting and Planning are Integral to Success

    HITEC Houston, which attracted HFTP’s largest event attendance in history, may now be behind us but the year is far from over. At the end of this month on July 28 is the new Club Forum in Sarasota, Florida USA.

  • HITEC Special: Revenue Strategy: Not Just a Fancy New Name for Revenue Management

    By Cindy Estis Green. A strategic view of revenue calls for proactive business mix planning and decision-making around deployed resources, well beyond reacting to what comes over the transom. Excerpt from the 2018 HITEC Bytes Special Report.

Guidance on Employers' Obligations Under the New York City's Disability Discrimination Laws Issued

Hospitality Labor and Employment Law Blog·7h
Our colleagues Susan Gross Sholinsky, Nancy Gunzenhauser Popper, and Amanda M. Gómez at Epstein Becker Green has a post on the Retail Labor and Employment Law blog that will be of interest to our readers in the hospitality industry: “NYC Commission on Human Rights Issues Guidance on Employers’ Obligations Under the City’s Disability Discrimination Laws.”

Big Data and Machine Learning Won't Save Us from Another Financial Crisis·18 September 2018
Ten years on from the financial crisis, stock markets are regularly reaching new highs and volatility levels new lows. The financial industry has enthusiastically and profitably embraced big data and computational algorithms, emboldened by the many triumphs of machine learning. However, it is imperative we question the confidence placed in the new generation of quantitative models, innovations which could, as William Dudley warned, “lead to excess and put the [financial] system at risk.”

NYC Human Rights Commission Proposes Broad Interpretation of Laws Protecting Gender Identity and Expression

Hospitality Labor and Employment Law Blog·14 September 2018
The New York City Commission on Human Rights (the “Commission”) recently proposed new rules (“Proposed Rules”), which, among other things, define various terms related to gender identity, re-enforce recent statutory changes to the definition of the term “gender,” and clarify the scope of protections afforded gender identity status under the New York City Human Rights Law (“NYCHRL”). If the proposed rules are adopted, the Commission’s interpretation of the NYCHRL will establish broad protections for individuals covered by the law’s prohibition against discrimination based on gender identity.

How a Cyber Attack Could Cause the Next Financial Crisis·14 September 2018
Ever since the forced bankruptcy of the investment bank Lehman Brothers triggered the financial crisis 10 years ago, regulators, risk managers, and central bankers around the globe have focused on shoring up banks’ ability to withstand financial shocks.

Seattle Delays I-124 Medical Requirements

Duff on Hospitality Law·13 September 2018
Pending the results of a lawsuit challenging the medical requirements under the Hotel Employees Health and Safety Initiative (“I-124”), the City of Seattle has agreed to delay enforcement of Part 3 of that law. Part 3 requires hotels with 100 or more guest rooms to provide insurance at no greater than 5% of medical costs to certain low wage workers, as defined under I-124. If a low wage employee does not enroll in insurance or pays more than 5% of wages toward insurance costs, the hotel employer is required to provide a healthcare subsidy to the employee.

From a hotelier to a banker

EHL Blog·13 September 2018
It may sound absurd to you if a hospitality student wants to work for banks such as UBS? However, it is feasible and indeed happened in the past.

Skift Forum Preview: TripAdvisor CEO Shrugs Off Advertising Slump as a Blip

mycloud HOSPITALITY·12 September 2018
Here's an unorthodox thought in business: TripAdvisor CEO Steve Kaufer knows that the company's value proposition for its customers can remain strong even when the financials can face difficulties every once in a while. That's a truism that sometimes get lost when pundits focus merely on stock price variations.

TripAdvisor declares fake reviewer jail term a "landmark ruling"

PhocusWire·12 September 2018
The owner of a fraudulent reviews business has been sentenced to prison and fined in what TripAdvisor considers a milestone for the internet.

Event Budget: 60 Tips, Templates and Calculator for 2019

mycloud HOSPITALITY·11 September 2018
Use our online event budget calculator or event budget template to ensure you keep your event finances on track. From the basics of creating an event budget, right through to pro tips for stretching your event revenues further, we have you covered.

What this round of capital means to CloudCherry

CloudCherry Blog· 7 September 2018
18 months ago Utah was a place I might have struggled to pick out on the map. Everyone in Utah seemed to like starting CX companies but that was as much as I knew about the place. Yet, the wheels of fortune were turning and leading us to our eventual home in Salt Lake City. This round of capital is the result of a journey we started more than 18 months ago when we got our first real round of institutional capital and dreamt of building a global company.

What US Hotels Need to Know About GDPR Legislation

mycloud HOSPITALITY· 6 September 2018
While many people in the United States have already heard about California legislation, which is similar to GPDR legislation, that has been taken into effect in June this year, a lot of them don’t know what it exactly refers to and how and whether it will affect them.

Non-pricing strategies to increase your profits

Hotel F&B· 6 September 2018
Any Revenue Manager should have a set of strategies that optimise revenue and profits for their hotel. These strategies include both dynamic pricing and non-pricing methods. Today, we will be focusing on some of the more popular non-pricing methods. These will help you to manage periods of high demand and cancellations, whilst increasing your profits.

Kimkim Raises $3.7 Million for Agent Bookings: Travel Startup Funding This Week

mycloud HOSPITALITY·31 August 2018
Kimkim, Travello, and Travelstop together announced more than $8.5 million in funding this week. The leisure travel agency, the social travel model, and the business travel booking tool, respectively, are each seeing new twists.

Travel Leaders Settles Sexual Harassment and Wrongful Termination Lawsuit

mycloud HOSPITALITY·30 August 2018
When cases like these settle out of court, the public doesn't get to learn much.

Are You Forecasting Transient Business Without Forecasting Group?

mycloud HOSPITALITY·30 August 2018
Forecasting plays a key role in any hotel revenue management (RM) strategy, helping hoteliers make important pricing decisions that significantly impact profitability. It’s a sophisticated process that reduces uncertainties, better equipping managers to optimize financial results by anticipating future demand and business performance. Until recently, however, a key element has been missing from the forecasting process. And that’s forecasting for group business.

Clubs in Collaboration: A Productive Discussion on Revising the USFRC

mycloud HOSPITALITY·29 August 2018
A select group of 28 talented club professionals assembled at the inaugural HFTP Club Forum late last month in Sarasota, Florida USA. This executive-level event was designed to explore pressing industry issues and, specifically, to collaborate on the eighth edition revision of the Uniform System of Financial Reporting for Clubs (USFRC) that is currently underway. The focus of their strategic discussion was a SWOT-driven review of the current manuscript with an eye to future needs.

Travello gets $5M round to push Bluetee marketing tech and expand

PhocusWire·28 August 2018
It's been a long time since a travel social network has caught some attention - but Travello has done so with a $5 million fund-raise.

Investment Group LaSalle Hotel Properties Reconsiders Blackstone's Takeover Offer

mycloud HOSPITALITY·27 August 2018
As the saying goes, it's not over until it's really over. Or in this case, until LaSalle makes up its mind.

When Companies Want to Innovate, But Investors Won't Let Them·21 August 2018
Businesses understand the power of digital innovations to reshape industries and markets. Yet, time and again, they have struggled to innovate with new and disruptive technologies. Clayton Christensen and others argue that an incumbent's failure has little to do with the newness or complexity of the technology. Rather, it is often their acute focus on the needs of the most important customers that places stringent limits on what they can and cannot pursue.

Travel startups: What's the ten-year investment, growth and failure picture?

PhocusWire·21 August 2018
The number of new travel startups has fallen dramatically in the last two years, coinciding with a significant increase in the amount of money flowing in to the market.

Alipay enables paperless tax refund service for travelers

PhocusWire·21 August 2018
China-based mobile payment platform Alipay is making it easier for its users to get tax refunds for purchases they make when they travel. South Korea will be the first country where the facility is available.

Friday Freebie: Use Data to Get More This Budget Season

Tambourine Blog·17 August 2018
This week’s Freebie: This budget season, you’ll need to prove how much hotel revenue you brought in or risk losing your funds.

REPORT: Independent Restaurateurs and Training, What is The Solution

Ecole hoteliere de Lausanne (EHL)·17 August 2018
Independent restaurateurs are driven by passion, an honorable motivator, but not the best when it comes to managing their assets and adapting their business to the digital age. How shall we train independent restaurateurs who do not see any challenges in their business whilst their own industry is collapsing under the pressure of government taxes, large corporations and change in their customers' mindset?

OTA & Travel Distribution Update - Travel agency hit with TCPA classaction; Expedia upping its game by adding more house listings; Amazon athreat to online travel agencies, not hotels

Duff on Hospitality Law·17 August 2018
An online travel agency that arranges trips to Cuba got slapped with a proposed class action in Florida federal court on Thursday for allegedly violating the Telephone Consumer Protection Act, with the lead plaintiff claiming he received an illegal telemarketing text message via an automatic telephone dialing system.

Why mega-rounds of $100M are now commonplace

PhocusWire·16 August 2018
Travel startups are not strangers to the concept of the $100 million+ mega-round, especially in recent years as the market has matured and new investors have come on the scene.

Navigating Employee Leave Laws: 101

ClubPeople·10 August 2018
Employers face so many challenges in understanding various leave laws. There are few day-to-day occurrences in the workplace that raise more legal, logistical, and financial questions than an employee’s request for leave. When such a request is made, the employer is faced with the loss of an employee and the accompanying effects on productivity, workflow, and morale. Compounding matters, the employer must navigate through a confusing—sometimes conflicting— maze of federal and state leave obligations in order to determine how to handle the leave request.


Thank you for subscribing. Your email address has been added to our mailing list.
To subscribe to the Finance Bytes Newsletter please enter your email address below.
An error occured, please check your input and try again.