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  • 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.

Visa, Mastercard Settle Long-Running Fee Suit

CFO Magazine·6h
Visa and Mastercard, along with a number of banks, have agreed to pay $6.2 billion to settle a lawsuit over merchant fees.

Meituan's Hong Kong IPO May Intensify Its Rivalry With Ctrip

skift.com - Digital·19 September 2018
China's travel market is fast-growing enough that it could support a competitor to current leader Ctrip. That day may arrive soon, too, given that Meituan-Dianping is showing surprising traction in hotel booking.

LaSalle Investment Management sees potential in economy London hotel

Hotel Management·18 September 2018
LaSalle Investment Management, a subsidiary of JLL, has bought a 150-room budget hotel in London for £40 million from a syndicate of private investors.

Quantifying the lender mindset leads to successful results

Hotel Management·18 September 2018
As a borrower, your goal should be to understand how your lender thinks. With hotel financing more than with other commercial real estate types, it pays to spend time making sense of how your hotel will be perceived. Given that we are late in the financing cycle, one might think that everything is financeable, but that’s not the case. Even if it were, better terms are always available if the lender-borrower match is arranged. Ensuring a congruent relationship is essential.

China Retaliates Against $200B in U.S. Tariffs

CFO Magazine·18 September 2018
China hit back on Tuesday against new U.S. tariffs on $200 billion worth of Chinese exports, further inflaming fears of a full-bore trade war between the two countries.

Asset managers like industry's position, direction

hotelnewsnow.com Featured Articles·18 September 2018
Members of the Hospitality Asset Managers Association reveal survey sentiment that predicts continued industry growth while facing a number of challenges and opportunities.

McNeill Hotel Investors Secures Capital Investment Of Up To $150 Million From Almanac Realty Investors

Hotel F&B Observer·18 September 2018
McNeill Hotel Investors (“McNeill”) announced today that it has entered into an agreement with an investment fund managed by Almanac Realty Investors (“Almanac”), under which the fund has committed to provide up to $150 million of capital to McNeill. It is expected that the investment will allow McNeill to double the size of its portfolio through the acquisition, development, and management of select-service hotels using premium-branded flags from the major domestic franchisors located in secondary and select tertiary markets across the United States.

Pebblebrook plans next steps following LaSalle merger

Hotel F&B·17 September 2018
Now that Pebblebrook Hotel Trust will be acquiring LaSalle Hotel Properties, the company’s next move will be to reduce debt by selling as much as $1 billion in assets within six months to a year of the closing.

Australia's iProsperity Group sells Sydney hotel for $54M

Hotel Management·17 September 2018
iProsperity Group, an Australian advisory for high-net-worth Asian investors, has sold its Park Regis Hotel in Sydney’s City Centre to the Yeh Group for $54.18 million.

Man jailed in Italy for selling fake TripAdvisor reviews

theguardian.com ·17 September 2018
A TripAdvisor reviewer has been sentenced to nine months in prison in a landmark fraud ruling by an Italian court.The owner of Promo Salento was convicted of selling fake reviews to hundreds of hospitality businesses across Italy in order to raise their profile on the website. He was also ordered to pay EUR8,000 (PS7,100).The court in Lecce said writing fake reviews under a false identity was a crime under Italian law.

It's Budget Season... Are You Ready?

Hotel F&B·17 September 2018
According to Hospitality Technology’s 2018 Customer Engagement Technology Study, 65% of guests say they are willing to pay higher rates and are more likely to return to a hotel that offers access to the technology they deem important. Guests’ technology demands for 2019 include having a hotel mobile app with a variety of features, the ability to check-in and out from a mobile device, and high-tech features available in guestrooms. However, travelers aren’t the only people demanding better hotel technology.

NLRB Proposes Rule to Change its Joint-Employer Standard

hotelbusiness.com·Requires Registration ·17 September 2018
The National Labor Relations Board has proposed a rule to change its joint-employer standard. With this change, an employer may be found to be a joint-employer of another employer’s employees only if it possesses and exercises substantial, direct and immediate control over the essential terms and conditions of employment and has done so in a manner that is not limited and routine. Indirect influence and contractual reservations of authority would no longer be sufficient to establish a joint-employer relationship.

America's Hoteliers Met with Lawmakers, Aiming to Boost Tourism, Tax Cuts

Hotel F&B Observer·17 September 2018
The American Hotel & Lodging Association (AHLA) and the Asian American Hotel Owners Association (AAHOA) gathered for their two-day 2018 Legislative Action Summit (LAS) in early September as nearly 400 hoteliers from across the country met with lawmakers on Capitol Hill.

Tackling ad fraud: 5 questions advertisers and brands should start asking

Hotel F&B·14 September 2018
Ad fraud runs rampant in our advertising ecosystem, but the good news is there is growing momentum to tackle it at a systemic level. While they're a great start, we need more solid initiatives and participation across the ad chain landscape to really crack the problem. Here are 5 questions you can start asking to help prevent it.

Hotel asset managers remain positive amid labor concerns

Hotel F&B Observer·14 September 2018
In taking the temperature of the current business climate, members of the Hospitality Asset Managers Association recorded a positive outlook among hotel asset managers for the near future, shadowed by rising uncertainty as 2019 approaches.

Amaral Leverages Virtual Cards to Reduce Risk & Save Tax Dollars

Business Travel News (BTN)·14 September 2018
"It started in 2014 when we were looking at a way to relieve the pain that many departments were feeling around reconciliation of the hotel direct bill process," said state of California business partnership and travel manager Bill Amaral. "We were in the middle of a procurement for travel payment, and virtual card rose to the top as a solution."

HB ON THE SCENE: Outlook Positive, Labor Costs a Concern for Asset Managers

hotelbusiness.com·Requires Registration ·14 September 2018
Hospitality asset managers have a positive outlook for the near future, with more than 60% forecasting that seven to 18 months remain in the current RevPAR growth cycle. More than 90% see rising labor costs as an issue.

Ahead of Merger with LaSalle, Pebblebrook to Sell $1B in Assets

Hotel F&B·14 September 2018
Pebblebrook Hotel Trust plans to sell off nearly $1 billion in assets as it nears an official merger with LaSalle Hotel Properties in a strategic move to reduce debt as a newly combined company. Prior to closing the merger, $750 million of property sales are expected to be completed—Park Central New York, WestHouse New York and Park Central San Francisco and more property sales will occur in the months ahead.

10 Years Later: How the Travel Industry Came Back From The Financial Crisis

Hotel F&B·14 September 2018
The 10-year anniversary of the Lehman Brothers bankruptcy reminds us that travel was ravaged along with other industries in the ensuing global recession. How the industry coped and rebounded is instructive for the next downturn.

Timeshare Industry Fighting Back To End Exit Fraud

Hotel F&B Observer·14 September 2018
The timeshare industry, the American Resort Development Association (ARDA) and ARDA Resort Owners’ Coalition (ARDA‐ROC), have united to stop the misconduct of those deceiving timeshare owners into paying for illusory timeshare exit services through fraudulent means. Recently, the Supreme Court of Tennessee disbarred attorney Judson Wheeler Phillips, founder of the Castle Law Group, on a myriad of charges relating to consumer fraud complaints.

When Exclusivity Feels Familiar, Soho House Looks to Another Club: Wall Street

Hotel F&B·14 September 2018
As Soho House considers plans to go public, there's a lot of competition on the horizon at every turn. This, plus the inevitable struggle to balance aggressive growth versus exclusivity, and a less-than-stellar customer experience presents some problems on the horizon.

Labor, taxes headline hoteliers' agenda on Capitol Hill

hotelnewsnow.com Featured Articles·13 September 2018
Hoteliers from the American Hotel & Lodging Association and the Asian American Hotel Owners Association will meet with Congress during their Legislative Action Summit to discuss issues facing the industry.

Q&A with HYP3R following $17m Series A funding

Hotel F&B·13 September 2018
Today, HYP3R announced $17M Series A funding to continue innovating location-based marketing for brands in travel, retail, and entertainment. We did a Q&A with CEO & Cofounder Carlos Garcia about the news, his background, the company, and what lies ahead. This is part of our martech company of the week series.

Scotland's capital looks to limit Airbnb

Hotel F&B·13 September 2018
In Scotland, the Edinburgh city council has called for a license limiting Airbnb rentals to 45 nights per year, in addition to a levy on tourists of £1 per person per night.

Pebblebrook Plans to Sell $1 Billion in Assets After Buying Hotel Real Estate Competitor

Hotel F&B·13 September 2018
Consolidation in the hospitality industry continues, as does the selling of real estate assets.

Hall Structured Finance closes $53M construction loan for Arizona Autograph

Hotel Management·12 September 2018
Dallas-based Hall Structured Finance closed a new construction loan totaling $53 million to finance the expansion, redevelopment, flagging and rebranding of the existing 32-room CopperWynd Resort into the boutique Autograph Scottsdale Resort. Upon completion, the property will be a 177-room luxury resort flagged as part of the Marriott Autograph Collection. Bill Hinz is redeveloping the resort, which is planned to open by Q4 2019.

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