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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.

The HFTP Middle East Research Center: February 2019 Bulletin

HFTP · 5 March 2019
The Dubai HFTP Research and Innovation Center at the Emirates Academy of Hospitality Management has decided to briefly discuss two relevant topics: the Dubai B2B Attractions Marketplace and the Attention Economy.

Pre-Opening Expenditures in Hospitality

HFTP ·11 February 2019
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.D., CHAE, Arlene Ramirez, MBA, CHAE, CHE, CHIA, and Tanya Venegas, MBA, MHM, CHIA.

USALI Part V: Gross vs. Net Reporting -- Amended and Restated

HFTP ·15 January 2019
The Uniform System of Accounts for the Lodging Industry (USALI), 11th Edition: Part V -- Gross vs. Net Reporting has been rendered obsolete by new GAAP Revenue Recognition (ASC 606). This amendment replaces Part V and reflects current GAAP. Published by Hospitality Financial and Technology Professionals (HFTP) under the guidance of the AHLA Financial Management Committee.

USALI 11th Revised Edition: Part IV (Templates)

HFTP ·10 January 2019
This document consists of templates for the USALI 11th Revised Edition Part IV: Revenue and Expense Guide.

USALI 11th Revised Edition: Part III (Templates)

HFTP ·10 January 2019
This document consists of templates for the USALI 11th Revised Edition Part III: Financial Ratios and Operating Metrics.

USALI 11th Revised Edition: Part II (Templates)

HFTP ·10 January 2019
This document consists of templates for the USALI 11th Revised Edition Part II: Financial Statements.

USALI 11th Revised Edition: Part I (Templates)

HFTP ·10 January 2019
This document consists of templates for the USALI 11th Revised Edition Part I: Operating Statements.

Clarification USALI 11-03: Reporting of Day Use Rooms Occupied

HFTP ·10 January 2019
This clarification of the USALI 11th Revised Edition refines the definition of Day Use rooms and provides reporting alternatives for inclusion of Day Use in the occupancy statistics, solely for the purpose of ensuring the consistency of productivity metrics.

Clarification USALI 11-02: Update of Revenue and Expense Guide Classification

HFTP ·10 January 2019
This clarification of the USALI 11th Revised Edition identifies known inconsistencies between references in the Revenue and Expense Guide and Part I: The Operating Statement for the classification of certain revenues and expenses . It also provides revised guidance as to which account classification should be used in each instance.

Clarification USALI 11-01: Group Rebates as Contra Revenue or Expense

HFTP ·10 January 2019
This clarification of the USALI 11th Revised Edition addresses group rebates as contra revenue or expense in the Rooms Department expense section under Commission and Fees--Group on pages 19 and 20.

USALI Treatment of Pre-Opening Expenses

HFTP ·10 January 2019
This article on the USALI 11th Revised Edition discusses pre-opening expenses, prepared by Financial Management Committee (FMC) member Gordon Potter, Ph.D. for the American Hotel & Lodging Association (AHLA).

Guidance on Financial Ratios and Operating Metrics in the USALI 11th Revised Edition

HFTP ·10 January 2019
This article on the USALI 11th Revised Edition presents guidance regarding the new financial ratios and operating metrics presented in the USALI, prepared by Financial Management Committee (FMC) member Agnes DeFranco, Ed.D., CHE, CHAE, CHIA for the American Hotel & Lodging Association (AHLA).

USALI: Gross vs. Net Revenue Reporting

HFTP ·10 January 2019
This article on the USALI 11th Revised Edition presents guidance regarding the reporting of revenue on a gross vs. net basis, prepared by Financial Management Committee (FMC) members Agnes DeFranco, Ed.D., CHE, CHAE, CHIA and Raymond Schmidgall for the American Hotel & Lodging Association (AHLA).

Implementation of the USALI 11th Revised Edition

HFTP ·10 January 2019
This article on the USALI 11th Revised Edition discusses the increased reporting standards for Labor Costs and Related Expenses. The article was prepared by Financial Management Committee (FMC) members Ralph Miller and Robert Mandelbaum for the American Hotel & Lodging Association (AHLA).

USALI: Treatment of Service Charge for Revenue and Expense Reporting in the Hospitality Industry

HFTP ·10 January 2019
It is important to differentiate a tip or gratuity from a service charge. This article on the USALI 11th Edition considers applicable rules, standards and legislation regarding revenue and expense reporting for service charges in the hospitality industry.

USALI: A Historical Perspective

HFTP ·10 January 2019
This article is a history of the USALI prepared by Financial Management Committee (FMC) member W. Peter Temling for the American Hotel & Lodging Association (AHLA).

USALI 11th Revised Edition: Lease Accounting Guidelines

HFTP ·10 January 2019
With the adoption of ASC Topic 842: Leases (Topic 842) quickly on the horizon for entities reporting under U.S. GAAP, certain accounting and reporting changes will also become effective for hotels reporting in accordance with the Uniform System of Accounts (USALI), Eleventh Revised Edition.

USALI 11th Revised Edition Part V: Gross vs. Net Modification

HFTP ·10 January 2019
This article explores the modification of the USALI 11th Edition due to ASC 606 and ASU 2016-08, specifically Part V: Gross vs. Net Accounting.

HFTP Research Report: Pre-opening Expenditures in Hospitality

HFTP ·10 January 2019
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.D., CHAE; Agnes DeFranco, Ed.D., CHAE; and Tanya Venegas, MBA, MHM, CHIA. A report from Hospitality Financial and Technology Professionals (HFTP)

Value Added Tax in the GCC

HFTP ·14 December 2018
Details on the new VAT established in the region covered by the GCC, including implementation best practices and documentation requirements. By Tanya Venegas, MBA, MHM, CHIA. From Hospitality Financial and Technology Professionals (HFTP).

Primary Club Metrics

HFTP ·14 December 2018
Survey results identify which club metrics are most often used to determine performance. By Agnes DeFranco, Ed.D., CHAE; Tanya Venegas, MBA, MHM, CHIA; and Amanda Belarmino. From Hospitality Financial and Technology Professionals (HFTP).

IT Spending in the Lodging Industry Three-year Analysis: 2015-2017

HFTP ·14 December 2018
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. From Hospitality Financial and Technology Professionals (HFTP).

The HFTP Middle East Research Center: November 2018 Bulletin

HFTP ·14 November 2018
The Dubai HFTP Research and Innovation Center at the Emirates Academy of Hospitality Management has decided to briefly discuss the developing tourism source markets, and utilizing partnership ecosystem. The HFTP Research and Innovation Center hopes this sparks conversation amongst HFTP Dubai Chapter members.

The HFTP Middle East Research Center: September 2018 Bulletin

HFTP · 4 October 2018
The Dubai HFTP Research and Innovation Center at the Emirates Academy of Hospitality Management has decided to briefly discuss the developing tourism market in Ras Al Khaimah. Its rapid development as a tourism market has caused it to be the fastest growing tourism market in the UAE. The HFTP Research and Innovation Center hopes this sparks conversation amongst HFTP Dubai Chapter members.

The HFTP Middle East Research Center: August 2018 Bulletin

HFTP ·14 September 2018
The HFTP Middle East Research and Innovation Center at the Emirates Academy of Hospitality Management has decided to briefly discuss two relevant topics: The Economic Influence of a Major Sporting Event on the Tourism Industry and the Young Professional Advisory Council. The HFTP Research and Innovation Center hopes this sparks conversation amongst HFTP Dubai Chapter members.

The HFTP Middle East Research Center: May 2018 Bulletin

HFTP ·14 September 2018
The HFTP Middle East Research and Innovation Center at the Emirates Academy of Hospitality Management has decided to briefly discuss two relevant topics: the CHAE certification and the CHTP certification. The HFTP Research and Innovation Center hopes this sparks conversation amongst HFTP Dubai Chapter members.

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