Dive in and Discover at the 2017 Annual Convention

HFTP Connect - 18 October 2017
As a first-time participant to the HFTP Annual Convention (possibly the first from the Middle East area), I will be looking for all of the insights the event will provide during its three-day agenda later this month. I believe this convention will be the best of its kind (those of an educational and informative nature) and provide tremendous networking opportunities.

ACU Says ATC Reform Isn't Privatization, but That's Probably a Good Thing

The Business of Travel - The official blog of GBTA - 16 October 2017
When reading the American Conservative Union’s (ACU) recent op-ed in The Hill, “’Conservative’ air traffic control bill fails to privatize industry”, I couldn’t decide if ACU’s opposition is a good thing. ACU’s support hinges on its “Seven Principles of Privatization,” essentially a guide for lawmakers to privatize for the sake of privatizing. Broad-brush principles seldom make for good policy, and as much as we would like to boil complex problems down to seven words or principles, it simply doesn’t work. But the ACU makes a good point – the 21st Century AIRR Act is not privatization. It’s a detailed prescription for a larger goal: improving our nation’s air traffic control.

What If Socially Useful Jobs Were Taxed Less Than Other Jobs? - 11 October 2017
This fall, college seniors across the U.S. are making a choice that will shape the rest of their lives: which career to pursue after graduation. It’s a breathtakingly complex decision, involving trade-offs among prestige, job security, quality of work life, and compensation. Yet these career choices affect not only the students themselves but also the rest of society. Economic research increasingly indicates some professions have “spillovers,” meaning that the social value of an individual’s work can be much higher, or much lower, than that individual’s compensation. The job market does not account for all social value.

What Buy American and Hire American Could Mean for Visa Programs

CMAA Legislative Report Blog - 6 October 2017
In April, President Trump issued the Buy American and Hire American executive order.

How Successful Solopreneurs Make Money - 5 October 2017
Dorie Clark, a marketing strategy consultant, answers a burning question: how do people make money off of what they know? She outlines the options for experts who want to monetize their knowledge. Clark explains, using herself and other successful solopreneurs as examples, how to earn revenue from public speaking, podcasting, e-books, and online courses. She also goes over what to charge and when to get an assistant. Clark teaches at Duke University’s Fuqua School of Business and is the author of the new book Entrepreneurial You.

How We Created a Strong Company Culture With 140 People in 23 Countries Blog - 3 October 2017
Today, I woke up and talked to my co-founder, Richard Castle, who happens to be working remote out of North Shore, Oahu, attended a virtual stand-up meeting with our VP of sales in Florida, spoke to our developers in the Ukraine, and had a lunch and learn with our new hires in Dublin.

Growth. Leadership. Innovation. Join us @ Fast Casual Executive Summit, 22- 24 Oct in Nashville

Oracle Hospitality Check-In - 3 October 2017
Oracle Hospitality will be attending the 12th annual Fast Casual Executive Summit, in Nashville October 22-24, 2017. The Fast Casual Executive Summit is an exclusive event reserved for top-level restaurant executives, leaders and innovators of the fast casual industry. Oracle Hospitality has the pleasure to sponsor it for a 2nd year in a row as a gold sponsor.

G2E: Take A Hard Look at Your Casino Org Chart

Duetto Research Blog - 3 October 2017
This week, many of the casino industry’s best and brightest will be at the Las Vegas Sands for the 2017 Global Gaming Expo. For those interested in tightening their operations and driving innovative strategies to increase profitability, the educational sessions are where you’ll want to be. Two educational tracks in particular – “Revenue Diversification” and “Optimizing Operations” – are pointed squarely at overcoming common casino pain points. Operators are realizing that when gaming and non-gaming departments work together, only then can casinos begin optimizing revenue across the entire integrated resort. Therefore, it’s time for casino operators to take a hard look at whether or not their employees – at the corporate and property level – are set up in the best possible situations to succeed. Opening up communication across departments and breaking down operations and strategies that have typically been siloed will allow everyone to act on the same page with the resort’s overall strategy, which will ultimately pave the way for a seamless customer experience.

CMAA and Allies File Comments to EPA's Waters of the US Rule Recodification

CMAA Legislative Report Blog - 28 September 2017
On September 25, CMAA and its Golf Industry allies submitted their official comments to the Environmental Protection Agency in regards to the recodification of preexisting rules regarding the Waters of the United States (WOTUS). This is the first step in the rescission process that proposes to re-codify the regulations that existed before the 2015 Clean Water Rule.

Are You Ready for the New Revenue Recognition Accounting Standards?

HFTP Connect - 27 September 2017
Revenue recognition standards have been converged and are now changing for both IFRS (IFRS 15) and US GAAP (ASC 606-10) beginning in 2018. US GAAP will allow non-public companies to transition beginning in 2019. After receiving input from the HFTP Hotel Advisory Council, the American Hotel & Lodging Association Financial Management Committee recently issued an article published on Hotel News Now on the change to US GAAP:

4 Budget Items to Boost Direct Bookings

Watercooler - Screen Pilot Blog - 27 September 2017
Many will spend the waning weeks of 2017 crafting budgets and tweaking business plans for 2018. A major goal of many owners and management teams will likely be an increase in direct bookings. Even those who have a glass-half-full perspective when it comes to the “frenemy” relationship hotels have with online travel agents (OTAs) would prefer guests book direct. Sure, OTAs can be a relatively inexpensive referral source, but direct bookings will always nurture stronger relationships with travelers and offer preferable profit margins.

NYC Meetup: Meet the Founders - How to Build a Startup Restaurant

METRO Accelerator - 27 September 2017
Join us for an exciting second round of Restaurant Tech meetups in New York City. Our next event will take place Wednesday September 20, 2017 from 6PM to 9PM at Microsoft Times Square. With the theme as ‘Meet the founders – How to Build a Startup Restaurant’, we will explore how startup practices can ease everyday life for restaurant owners. Click here to check out the meetup and book your spot today. On the speaker panel are four very different experts, to present their personal experience on the topic.

6 Stats on Digital Asset Management

ICE portal - 27 September 2017
As we discussed previously in our article “Why Managing your Hotel’s Digital Assets Saves Time and Money,” Digital Asset Management (DAM) solutions can significantly benefit hotels. This technology offers a way for brands to effectively organize, access, share and store their digital assets. It eliminates the cost of lost work, allows for collaboration and maintains brand consistency along with numerous other benefits. These statistics from Brandfolder further back up DAM and what it can do for your hotel:

3 Ways to Rethink Your Comp Set to Discover New Group Business

In The Know - Knowland Blog - 25 September 2017
Who do you consider your “comp set?” STR defines competitive set (comp set) as “a peer group of hotels that competes for business and is selected to benchmark [a] property’s performance.” Having a local comp set of comparable properties is great for setting rate strategies and for benchmarking your hotel’s performance in the market. When it comes to group business, though, are you missing out on opportunities if you limit yourself to thinking of your meetings competitors as just the properties down the street? Are you differentiating between which hotels are simply comparable and which are actually competitive? Regarding selecting the right comp set, Hotel News Now says, “Comp sets often seem obvious, but it’s surprising how often a more relevant property is subjectively excluded or a less relevant hotel is included.” To be truly competitive, comp set hotels need to be viable substitutes in the mind of a planner or group. Here are 3 ways you can discover new group opportunities by thinking outside the traditional definition of “comp set.”

Why your hotel should be thinking like a start-up

Mews Blog - 25 September 2017
Hotels have operated the same way for hundreds years. There is a GM, a head of housekeeping, a head of reception and the all too familiar list goes on. With such an antiquated set-up, it is clear that there are several areas within the hotel industry that are ripe for disruption. Hotels are still wasting both money and time on tasks that, in 2017, should be automated. But how can we identify these ancient pain points and what can we do to fix them?

Travel Ban Expanded to Include Chad, North Korea and Venezuela

The Business of Travel - The official blog of GBTA - 25 September 2017
Yesterday the President and the U.S. Department of Homeland Security (DHS) announced enhanced global security measures that included adding Chad, North Korea and Venezuela to the list of countries subject to travel restrictions. Iran, Libya, Syria, Yemen and Somalia are again included in this order, while restrictions placed on the Sudan have been lifted.

As European Banks Retreat from the World Stage, China is Stepping Up - 25 September 2017
It has been 10 years since the global financial crisis, and the fall-out continues in the industry that was at its epicenter: banking. There has been a truly dramatic retrenchment from foreign markets, making banking a rare case of an industry becoming less, rather than more, global.

Equifax and Why It's So Hard to Sue a Company for Losing Your Personal Information - 22 September 2017
After years of screaming headlines about data breaches, we all know the drill. A major company announces it has been hacked, a brief public outcry ensues, and then… not much happens. Down the road you might read about a government inquiry or a class-action suit being settled. People have become numb to these announcements. We assume our personal information has been compromised in some way, take reasonable precautions like canceling a credit card or instituting credit monitoring, and move on with our lives.

Equifax, the Credit Reporting Industry, and What Congress Should Do Next - 20 September 2017
Even for the experts, the recent data breach at Equifax was staggering. The data that undergirds the credit records of 143 million consumers was compromised. Social Security numbers, dates of birth, and drivers’ license records are used to authenticate identity. It is not difficult to change a credit card number, but changing Social Security numbers and birth dates is a whole different matter. Data breaches are on the rise in the United States. It’s time for Congress to act. Why does this require action by Congress? There are at least five major reasons that the private sector cannot handle this issue on its own:

GDPR: What You Need To Know

Net Affinity | Conversion Optimisation for Savvy Hoteliers - 19 September 2017
The GDPR is coming, it will take effect from 25 May 2018 and hotels need to create a plan to be ready for it. Net Affinity have been following the news around the new GDPR regulations closely and have put together the most important pieces of ‘need-to-know’ information to help get an understanding of it. The repercussions for not following these strict EU data protection laws are severe, and could cripple most SME’s and do serious damage to the bigger hotels and chains. Therefore, there must be measures taken and systems implemented in advance, in order to be in compliance by the time May 2018 comes around.

Industry Executives Share Tips for Reducing Hotel Costs

HMG Hospitality Blog - 19 September 2017
Hotel operators know that there are countless incremental costs that add up to a lot of expenses. Industry executives discussed this topic at length at Hotel ROI Midwest conference, part of the Hotel ROI Series. Here are some of their insights on how reducing hotel costs.

Roundtable Recap: How Trump administration will affect labor laws and regulations for hospitality

Cornell Blog - 18 September 2017
Over the course of several sessions, the roundtable examined the continuing development of the joint-employer decision, possible changes in the NLRB, and the status of union activity with a new board and new administration. – David S. Sherwyn

Direct Booking Summit 2017: the countdown is on!

Triptease Blog - 18 September 2017
While there's no denying the chilly September air and leaves turning from green to red, here at Triptease we've got a spring in our step. For us, September means only one thing... It's Direct Booking Summit season. We're just over a week away from hundreds of hoteliers descending on The Westin New York at Times Square for two days of workshopping, strategising and good ol' networking at the industry's most interesting event (yes, that's official).

Experience is Everything: How B2B Companies Are Competing with Marketplaces

Adobe Digital Marketing - 18 September 2017
Evolving forces are reshaping the B2B landscape, leaving many marketing teams to rethink the way they talk to their customers. Forrester Research predicts B2B e-commerce sales in the United States will top $1.1 trillion by 2020, giving B2B companies more than a trillion reasons to embrace the trend toward consumerization. There’s just one problem — online behemoths like Amazon Business and Alibaba make intimidating competitors because they have set the standard for creating trustworthy online experiences backed by great functionality and responsive customer service. But B2B companies can differentiate themselves from third-party players by delivering optimal customer experiences. That means learning how to leverage direct-to-customer platforms without negatively affecting existing distribution partners.

How BI Optimized Software Will Enhance Your Budget Planning

The Rainmaker Hospitality and Gaming Blog - 14 September 2017
BP1.jpg The hospitality industry is a highly competitive, ever changing market. Consumers have more options today than ever before when choosing a property for business or leisure travel. With so much at stake, budgeting and forecasting methods must be accurate and efficient. However, given that most hospitality budgeting still lives in spreadsheets, there's plenty of room for human error.

Budget season tips: Mapping your hotel's 2018 digital marketing budget

Travel Tripper Blog - 14 September 2017
It’s budgeting season, which means your hotel is probably ready to start planning how, when and where you’ll be investing during 2018. In the following two-part series, we’ll be offering expert tips to help you budget for two areas that could define how successful you are next year—your digital marketing strategy and your hotel website. When it comes to allocating your digital marketing budget for 2018, our top tip is simple: allow for flexibility in your monthly spend.


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