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  • 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.

  • Letter from the HFTP Global President: At the End of the Year, We Reflect on the Best of the Year

    As we prepare to transition to the new HFTP Global board at the 2018 Annual Convention in October, I would like to take the time to reflect on my year serving as HFTP Global president.

  • 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.

AccorHotels Balances Asset-Light and Acquisition Strategies: New Skift Research Report

skift.com - Hotels·8h
With the sale of a majority stake in the company's owned and leased hotel business, AccorHotels is a more stable, nimble company, with the ability to pursue additional acquisitions and other strategic initiatives. In our latest research report, we break down what going asset-light means for the company and tackle ways of measuring the success of its M&A strategy.

Corporate Hotel and Air Business Remains Strong, But for How Long?

skift Inc. ·9h
It's been a strong year for corporate travel in general, with both hotel chains and airlines reporting robust growth as businesses continue to send their employees across the world.On their earnings calls in recent weeks for third quarter results, top executives across travel expressed optimism for the future of continued corporate travel growth. Still, signs are emerging that an economic slowdown is coming soon.Hotel rates are high, putting pressure on the people who plan meetings and events. There are also lingering concerns around the effect that ongoing trade wars and negotiations around the world will have, along with uncertainty creeping into global stock markets. While the major players in corporate travel are getting along more nicely than before, the collaboration may not last if financial pressure increases.Here's the latest from leaders across the industry on the state of corporate travel and their efforts to attract business travelers.MARRIOTT CEO ARNE SORENSON ON CORPORATE RATES AND MEETING PLANNERS"We have regular dialogue with our big corporate customers as it relates to both group and their transient travelers. We have regular sessions with group planners. Sometimes, those are folks in intermediary platforms. And often, those are folks internally at corporate or association customers. I think overwhelmingly, the response has been not just positive but enthusiastically positive. They appreciate the breadth of choice."They appreciate the execution that we're bringing to the portfolio of both group boxes in which we are, far and away, the biggest in the industry. And I think we're hearing from our association corporate group customers that they love the breadth of choice that we offer within our portfolio. And similarly, I think we hear from the business transient traveler that they like very much the breadth of choice that we're offering. And so when we see our share of the total travel book of some of our biggest corporate clients, we see that share generally growing, and the relationship is generally very robust...

Hotel Occupancies, Rent Growth Remain Strong, with a Positive Outlook for 2019

National Real Estate Investor (NREI) Online ·9h
Hotels are doing better than ever. More rooms have been occupied in 2018 at higher rents than ever before."We are at peak performance--and we don't expect that to change much," says Jan Freitag, senior vice president of lodging insights for research firm STR.Hotel owners still worry about the rising costs to operate their businesses, however. Even though the average revenue produced by hotel rooms is likely to keep rising, room rates are not growing as quickly as the cost of operations."The name of the game is cost control," says Freitag.Demand for hotel rooms is still risingHotel rooms are full in cities and towns across the United States. Occupancy rates reached a cyclical high in 2018, according to Robin Trantham, a consultant with research firm CoStar Portfolio Strategy.Over the 12 months that ended in September, occupancy across the U.S. averaged 66.7 percent. "We are selling two out of three rooms all year," says Freitag. "We are at the strongest demand level ever."

The Big-Money Reinvention of the Humble Hostel: A Skift Deep Dive

Onyx ·12h
It took AccorHotels only 18 months to bring its hostel-like concept Jo&Joe to life.The hospitality giant had been watching the sector, studying where it might be able to make its mark before it hit on, what it thought, was the right approach."The market has changed and for us it was a time just to see that this kind of market is going more and more professional with bigger brands, with real concepts and we decided to get into it," Francois Leclerc, vice president of brand and operations at Jo&Joe, told Skift.The likes of Accor and now Hilton, think the hostel market is ripe for disruption. These are not scrappy upstarts but rather the established hotel companies looking to use their scale to pick up a different type of consumer.Hostels certainly aren't a new invention; they have been have been around for more than a century but up until fairly recently they weren't part of the wider hospitality conversation. Sure, as a business model in hospitality they've been evolving in their own way.Way back when, It was those people passionate about traveling who decided to lease their own building, sort out a supply of bunks, and throw open their doors. It wasn't necessarily about making a truck load of cash, but more about bringing people together.Big hoteliers and investors hadn't taken much notice, favoring other areas such as vacation rentals.

Third-Tier Growth Spurt

Lodging Magazine ·20 November 2018
With suburban hotel performance surpassing the growth rate for urban properties, many hoteliers are turning to secondary and tertiary markets to meet the demand for up-and-coming travel destinations. Among them is the management company Charlestowne Hotels. Its President and CEO Michael W. Tall says that the company is making the growth of boutique properties in second- and third-tier cities a main focus of their 2019 business plan. In a recent interview with LODGING, Tall described this tertiary-tier tourism boom and his company's participation in it.Tall notes growing interest in secondary and tertiary markets across the industry. "Now more than ever, the interests of travelers--including those termed 'adventure travelers'--are piqued by the unknown and unseen. As a result, travel to small, off-the-beaten-path towns has grown." However, he observes, a significant portion of these travelers have no interest in roughing it. "They bring with them their big-city expectations: Even a one-stoplight town needs quality and interesting accommodations."Tall says Charlestowne recognized a need for such accommodations via lifestyle hotels that connect with their local community and deliver an authentic sense of place in these markets--including university towns and others considered to be "under the radar". Tall points out numerous advantages of university markets in particular, including their consistency and predictability.

Hospitality Financial Leadership: Expectations vs. Agreements

Hotel Online·19 November 2018
In life, few things make us less productive and more distant than other people’s expectations of us. Expectations are everywhere, at work and at home. People detest others expectations.

A Six-Step Strategy for Increasing Hotel Profitability

Lodging Magazine·19 November 2018
While the rate of revenue growth has slowed nationwide, the U.S. hotel industry has seen increasing profits for eight consecutive years. Hoteliers can narrow the disparity between lagging revenue and increasing profitability by taking proactive measures in management and operations. Here is a six-point strategy that can be used to increase profitability.

Democrats to Target Trump's Hotels Business as Part of Wider Investigation

skift.com - Hotels·19 November 2018
Come the new year, we'll likely learn a lot more about President Trump's business empire, including his tourism assets.

Acquisition Financing Secured For Holiday Inn Fisherman's Wharf San Francisco

Hotel Interactive ·19 November 2018
Invesco Real Estate, a global real estate investment manager, and JLL’s Hotels & Hospitality group announced the closing of an acquisition and renovation loan for the buyer of the Holiday Inn Fisherman’s Wharf San Francisco. The 243-key hotel is located in San Francisco’s Fisherman’s Wharf submarket and will be repositioned as a Kimpton-branded luxury boutique hotel.

New York's Park Lane Hotel Cleared for Sale After Disgraced Malaysian Financier Drops Claim

mycloud HOSPITALITY·17 November 2018
Malaysian financier Low Taek Jho fooled a lot of people at the highest echelons of global finance. It'll take some time before it's all unraveled.

BlackBerry Buys Cylance to Boost IoT Security

CFO Magazine·16 November 2018
BlackBerry said Friday it will acquire machine-learning specialist Cylance for $1.4 billion to enhance the security of its software for autonomous vehicles and “Enterprise of Things” (EoT) platform.

UK offers budget break for hotels

Hotel Management·16 November 2018
This year’s Autumn Budget of the British Government, an annual budget set by HM Treasury for the following financial year, looked to lift some of the pressure on the nation’s hospitality sector by by cutting business rates.

The History of Financing Boutique Hotels

Hotel Online·14 November 2018
The boutique hotel industry has grown considerably over the last several years, attracting investors and business owners alike. Although every real estate transaction has different considerations, financing a hotel or motel today comes with unique challenges. Looking back at the history of financing boutique hotels can give you an idea of how far this industry has come from its start in the 1980s. It can also help you know where to begin if you’re interested in financing a boutique hotel of your own.

MCR, BLT Close $647.5M Portfolio Financing

hotelbusiness.com·Requires Registration ·13 November 2018
A joint venture of MCR and Building and Land Technology (BLT) has completed a $647.5-million financing across a 5,958-guestroom national portfolio of 53 Marriott and Hilton select-service and extended-stay hotels spanning 15 states and 31 markets.

MCR and BLT Joint Venture Close $647.5 Million Portfolio Financing for 53 Hotels

Lodging Magazine·13 November 2018
A joint venture of MCR and Building and Land Technology (BLT) has completed a $647.5 million financing across a 5,958-guestroom national portfolio of 53 Marriott and Hilton select-service and extended-stay hotels spanning 15 states and 31 markets. Thirty-three of the hotels are Marriott-branded, while 20 properties operate under Hilton brands. On average, the portfolio’s hotels are 12 years old and generate RevPAR of $90 and RevPAR Index of 120 percent.

Use AI to Stem the Growing Threat of Loyalty Fraud

Hospitality Technology Magazine·13 November 2018
When we think of hotel assets, we tend to think of properties. But loyalty programs are some of the most valuable assets in the hospitality industry.

What to know about opportunity zones created by recent tax reform

Hotel Management·13 November 2018
The U.S. Treasury recently released guidance about opportunity zones established under last year's Tax Cuts and Jobs Act. An opportunity zone is an economically distressed community where new investments may be eligible for preferential tax treatment, according to the Internal Revenue Service.

How the Facebook Data Breach Could Affect Online Fraud

mycloud HOSPITALITY·12 November 2018
Facebook recently announced that a previously unnoticed vulnerability in their site code has led to a hack of nearly 30 million accounts: Hackers were able to steal users’ access tokens, allowing them to stay logged onto the platform for months at a time.

Perkins Coie negotiates $57M financing for Atlanta Marriott

mycloud HOSPITALITY· 9 November 2018
Perkins Coie represented Integrated Capital, a private real estate advisory and investment firm, in the negotiation of a $57 million refinancing loan for the Atlanta Marriott Perimeter Center hotel.

Motel 6 to pay $7.6M for providing guest information to ICE

Hotel Management· 8 November 2018
Reputation and trust are worth their weight in gold, and Motel 6 is taking its first steps toward reclaiming traveler confidence after mishandling guests’ information. Following a class-action lawsuit, Motel 6 has agreed to pay up to $7.6 million to Latino guests who say employees shared their private information with immigration agents in 2017, and further legal action is on the horizon.

U.S. News & World Report - Best Law Firms(r) Recognizes JMBM as 2019 "Best Law Firm"

Hotel Online· 8 November 2018
A hotel lawyer brings together numerous legal disciplines, depending on the hospitality project. That’s why the Global Hospitality Group® is part of a full-service law firm. My partners at Jeffer Mangels Butler & Mitchell LLP (JMBM) provide first-rate services to our hospitality clients and I am pleased that their efforts were recognized today in U.S. News & World Report’s list of Best Law Firms.

Three ways hotels can mitigate financial challenges

hotelbusiness.com·Requires Registration · 7 November 2018
In today’s hospitality landscape, managing hotel financials is more daunting than ever.

Capital Gains Hotel Equities, Virtua Partners team up on $500M investment

hotelbusiness.com·Requires Registration · 7 November 2018
Building out a holistic hospitality platform is what many companies have been trying to do. Some companies in the market are able to carve out a portion of the management market, while others bite at the development side of the industry. Hotel Equities had both, and the only thing it was missing was capital—so it found a partner.

RLJ lowers outlook due to hurricane, asset sales

hotelnewsnow.com Featured Articles· 7 November 2018
As a result of impact from Hurricane Florence on its Myrtle Beach and Charleston markets, and other factors such as asset sales, RLJ Lodging Trust lowered its outlook for full-year 2018.

Belmond Sees Slight Takeover Bounce in Third Quarter

skift.com - Hotels· 7 November 2018
Now it's just a wait-and-see approach to see who will snap up Belmond's treasure trove of luxury assets.

Hotels take hit in rash of severe storms across Europe

hotelnewsnow.com Featured Articles· 7 November 2018
It‘s not just the Pacific Rim, the U.S. and Gulf of Mexico that are seeing an increase in bad weather lately. Europe, too, has experienced recent storms, which have caused the deaths of 29 people and noticeable, if temporary, damage to hotels.

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