• HFTP GDPR Guidelines: Hospitality Organization Flow Charts

    This document is a set of flow charts illustrating data flow scenarios, involved parties providing hospitality services, steps of the guest journey and more. Four scenarios are presented: independent hotel, independent hotel with third party agreement, branded hotel and branded hotel with independent control.

  • Job Description: Hospitality Data Protection Officer

    This document highlights the role and qualities of a hospitality data protection officer. It can be used as a guideline for an internal recruitment, the expansion of an existing position or the recruitment of a third party to assist in the compliance for the GDPR.

  • Job Description Template: Club Accounting Positions

    The HFTP Americas Research Center has developed example job descriptions for club accounting positions. The process involved reviewing sample job descriptions, and compiling the information into standardized job descriptions.

  • Members Only: A Room for Robots in Hospitality

    Realistic uses for artificial intelligence are increasing, making way for machine-based assistance in accounting, marketing, customer service and more. This feature details current scenarios where robotics is used in the business environment, such as for accounting tasks.

Is Hilton Hotels Next on HNA's Asset-Selloff List?

skift.com - Hotels·16 March 2018
Troubled Chinese conglomerate HNA Group Co. has sold out of two Hilton-related companies so far this month. Now, investors are wondering whether Hilton Worldwide Holdings Inc. is next. To help reduce one of the biggest debt loads in China, HNA purged its ownership in Park Hotels & Resorts Inc. earlier this month, and sold its 25 percent interest in timeshare business Hilton Grand Vacations Inc. on Wednesday for $1.1. billion. In both cases, the Chinese firm found a way to amend restrictions that kept the stock tied up until next year, leading to speculation that a similar allowance could be made for HNA’s 26 percent stake in Hilton Worldwide.

Tracking the Real Costs of Business Travel Takes New Types of Collaboration

skift.com - Travel Services·16 March 2018
Early in the decade, travel managers were focused on keeping costs low as business travel ramped up during the global economic recovery. But as costs have increased in recent years, many are looking for a more holistic way to understand what their organization spends on corporate travel outside of just flights, hotels, and food.

European owners: Cost curbing, revenue growth paramount

hotelnewsnow.com Featured Articles·15 March 2018
Anders Nissen, CEO of Stockholm-based Pandox, said the discussion should be more about productivity than about costs, which he learned early in his career when he first became a general manager. “That’s a big difference,” said Nissen, whose company owns and/or manages 143 hotels with approximately 31,500 hotel rooms in 15 countries. “With cost, you cut something. You close your restaurant or you take away one person in reception and you make the guest experience less good. “Productivity is to increase revenue of a working hour,” Nissen added. “That’s how you use your organization better.”

Executives detail asset strategies, deals

hotelnewsnow.com Featured Articles·13 March 2018
Hotel companies and real estate investment trusts were both active with acquisitions and dispositions during the fourth quarter of 2017, and executives detailed some of the strategy behind their activity. Read on for more from Wyndham Hotel Group, La Quinta Holdings and Extended Stay America executives about those deals, as well as quotables from other C-corp and REIT executives. Geoff Ballotti, president and CEO, Wyndham Hotel Group“We’re looking absolutely at every deal that presents itself and we’ll continue to do it. But I think what we’re most excited about is our organic growth, particularly in North America. We saw our North American pipeline grow 15% and what it really excites us in terms of the organic side of that growth is we’re growing in the area of the market right now that we’re looking to grow in. Obviously with acquisitions like AmericInn and La Quinta, but (also) with our prototype midscale brands that saw the greatest growth in their pipeline—our Hawthorn brand on the extended-stay side, our Wingate on the midscale side and our Trademark brand, which … has added 5,000 rooms to the pipeline and is now at 70 hotels. We see great opportunity for both organic and acquisition opportunities as they present themselves.”

Inside the Fight for More Female CFOs

CFO Magazine·13 March 2018
With talk of gender equality in the workplace becoming commonplace, from the red carpet to the Ford production line, female finance executives are also getting in on the conversation. They’re scanning the C-suites of large companies and wondering why so few women are CFOs. Jenna Fisher of Russell Reynolds. The reason is certainly not a supply shortage. In the United States, women now earn 51% of bachelor’s degrees in accounting, according to the National Center for Education Statistics. These degrees are being put to good use: Bureau of Labor Statistics data shows that 61% of U.S. accountants and auditors are women.

Radisson CEO shares vision for owner-driven change

hotelnewsnow.com Featured Articles·13 March 2018
The new Radisson Hotel Group has emerged to put owners first, grow the portfolio across the globe and have the two management and leadership teams fully aligned, said John Kidd, CEO of Radisson Hospitality, in a video interview at last week’s International Hotel Investment Forum in Berlin. John Kidd, president, COO and CEO of Radisson Hospitality, is convinced the road to growth for his company is by putting owners first and having them understand the company’s newly devised five-year strategic plan. On 5 March, the new company’s go-to-market name of the Radisson Hotel Group was announced at the International Hotel Investment Forum in Berlin to give customers and owners a better notion of the company’s eight brands and their guest promises, Kidd said.

Do U.S. hotel stock trends point to larger industry concerns?

Hotel Management·13 March 2018
U.S. hotel stocks have been playing a game of Chutes and Ladders so far this year. While STR and Baird reported that the Baird/STR Hotel Stock Index increased 6.4 percent in January, the companies announced Monday that the index dropped 6.9 percent in February. “Hotel stocks fell sharply in February and erased their early year-to-date gains. Higher interest rates and broader stock-market volatility were the main drivers of lower stock prices,” Michael Bellisario, senior hotel research analyst and VP at Baird, said in a news release.

Is the Crypto-Luxury Market Worth the Risk?

skift.com - Travel Services·13 March 2018
The growth of cryptocurrencies as an asset class has helped create a new type of wealthy individual. The so-called crypto-affluents are becoming more attractive to luxury brands and retailers which are experimenting with accepting these digital payment methods. Yacht dealer Denison and watchmaker Chronoswiss were two of the first luxury brands to directly accept cryptocurrencies.

Hotel industry threats cast pall over underwriting standards

Hotel Management·13 March 2018
Hotel underwriting hasn’t changed significantly since 2014. Depending on the capital source, cash flow continues to be reasonably normalized and standard adjustments are made. Strong debt yields are applied, along with loan-to-value ratios and other typical underwriting metrics. Despite this, 2018 may prove to be the year when some of the threats facing the hotel industry seep into underwriting standards.

Cool Cousin goes crypto: Another effort to integrate blockchain into travel

Tnooz·13 March 2018
Ah, the blockchain. The travel startup ecosystem around this emerging technology continues to expand. This time, it’s Cool Cousin with a new cryptocurrency named ‘CUZ’ to facilitate transactions between its ecosystem partners. The 16-person startup has created a community of locals that personalize itineraries, with the content being created and curated by the community. These are de-facto local travel agents, who use their local knowledge to help travelers have better trips. The best content brings better trips to travelers, and those ‘cool cousins’ are rewarded.

Chad Moves to Get Off Trump's Travel Ban List

skift.com - Destinations·12 March 2018
Chad’s government has made progress on measures that may help “normalize” its relationship with the U.S. after its inclusion in the Trump administration’s visa-ban list, Secretary of State Rex Tillerson said. Tillerson met Chadian President Idriss Deby for talks in the capital, N’Djamena on Monday, where the travel ban was discussed, Tillerson told reporters in the city.

Hoteliers navigate tricky class-action waiver landscape

Hotel Management·12 March 2018
We often imagine the rule of law as something rigid or set in stone, but in reality it is anything but. Case in point, the National Labor Relations Board, the organization in charge of maintaining a balance between the powers of the employer and the rights of the employee, is in the process of walking back a number of Obama-era decisions regarding employment law. During the previous administration, the NLRB decided that class-action waivers in arbitration cases were not enforceable, but a new decision from the NLRB could be taking the opposite stance.

Executives discuss tax-reform expectations, impacts

hotelnewsnow.com Featured Articles· 9 March 2018
While it’s only been a matter of months since the United States Congress passed a comprehensive tax-reform package that greatly scales back the corporate tax rate for the country, investors and analysts are eager to find out exactly what the impact will be on the hotel industry. During the recent fourth-quarter and full-year 2017 earnings season, executives with various companies shared their insights into what they are seeing in terms of tax reform and their long-term expectations for the law. David Wyshner, EVP and CFO, Wyndham Worldwide“The recently enacted Tax Cuts and Jobs Act is good news for us. In the fourth quarter, we recorded a $415-million non-cash tax benefit as we reduced our net deferred tax liability because of the new lower federal rate. Even more importantly, we expect that our effective tax rate applicable to adjusted pre-tax earnings will be approximately 25% going forward, about 12 points below where it was previously. And over time, our cash tax rate will be around 19% instead of 30% previously. This will enhance our free cash flow by around $100 million a year. Over time, we expect that tax reform will allow us to invest more in our business and to have more cash flow available to return to shareholders.”

Understanding Customer Acquisition Cost to Determine Value & Profit

The Rainmaker Hospitality and Gaming Blog· 8 March 2018
Hotel revenue managers are experts at determining how much revenue a particular guest will generate. With their RMS, they use predictive analytics to perform a thorough guest valuation analysis that determines how much value or profit a guest is adding to the bottom line. But, there are acquisition costs for every guest that need to be considered. How should properties approach the expense side of their guest valuations to ensure that they’re identifying the guests’ total profitability?

How to stay on top of your hotel's monthly financial circle

eHotelier.com· 8 March 2018
If you and I worked in banquets and we were both rookies, we would show up every day and listen, work and learn, and in a relatively short period of time, we would both be pretty good at setting up, servicing and tearing down the banquet. How is this different from learning the financial piece? It is not, that’s the illusion. It looks different because it is money and it has a certain illusionary power. The monthly financial circle in a hotel is a practice schedule that includes different routines you must rehearse to improve your whole financial game. The circle repeats itself each month like clockwork, always overlapping and never missing a beat.

The New Tax Law: A Lesson & Some Levity

hotelbusiness.com·Requires Registration · 7 March 2018
I’ve been singing around the office the last few days, and I just can’t get the tune out of my head. I find myself humming it on the way home from work and even when I get up in the morning. Which one? Nothing from the radio or my playlists, but rather, something from my past: “I’m Just a Bill.” Not familiar with it? Let me remind you. Remember Schoolhouse Rock!?

Metric of the Month: Cycle Time for Monthly Close

CFO Magazine· 5 March 2018
When fewer days are devoted to the month-end close, more days can be spent providing finance expertise to organizational initiatives and decisions. By getting a grip on data quality, troubleshooting process glitches, and working ahead, finance teams can save time and put it to good use on higher value projects.

GDPR and its impact on your hotel website

hotelmarketing.com· 5 March 2018
For hotels that are already treating their customer’s personal data responsibly, GDPR should require just small changes in current practice. Ensuring that the personal data you hold is only being used in ways which the individual is aware of, has approved and that it is being stored securely, should help prevent you falling foul of the new regulations.

NH Hotels Fears a Rival May Buy Chinese Investor HNA's Stake

skift.com - Hotels· 2 March 2018
NH Hotel Group doesn’t want a rival hotel company taking over HNA Group’s 29 percent stake in the company. The Chinese conglomerate said in January it would explore the potential sale of its minority shareholding in the Spanish hotel group, and it looks like it has seen some interest.

Get vendor agreement in writing before the worst happens

Hotel Management· 2 March 2018
When the delivery truck crashes into your hotel lobby, who pays for the new wall? If the truck hits your guests, who covers the medical bills? What does your delivery agreement say? What agreement? It matters. Today, hotels are so focused on revenues and profits from guests and groups that they neglect their vendor agreements. But vendors are repairing your elevators and delivering your food and wiring the stage in the ballroom. Whatever could go wrong? It is not very convincing in court when you hold up a Post-it note that you claim is the vendor’s indemnification agreement!

So Far, Only 6% of Tax Savings Going to Workers

CFO Magazine· 2 March 2018
Once 2018 began, it became the single biggest question the wider public wanted to know: How did large U.S. corporations plan to spend the windfall bestowed on them by the Tax Cuts and Jobs Act? Two months and about 90 company announcements in, the discussion hasn’t died down. Indeed, firms like JUST Capital, a nonprofit that ranks companies “based on the issues Americans care about most,” won’t let it. JUST is closely tracking what Russell 1000 firms are pledging to do with their nearly $150 billion in found money. What has it discovered so far?

Core Inflation Measure Jumps 0.3% in January

CFO Magazine· 2 March 2018
A gauge of underlying U.S. inflation posted its largest gain in 12 months in January, while consumer spending growth slowed after a robust fourth quarter. The Commerce Department reported Thursday that the personal consumption expenditures price index rose 0.4% in January, following a 0.1% gain in December. It was the biggest increase in the PCE since September.

La Quinta performance takes hit from hurricanes in Q4

hotelnewsnow.com Featured Articles· 1 March 2018
La Quinta executives on a fourth-quarter earnings call detailed performance declines due to hurricanes, and mentioned that Wyndham’s acquisition of the company’s franchise and management businesses is expected to close in the second quarter of 2018. IRVING, Texas—La Quinta Holdings executives declined a question-and-answer session with analysts on the company’s fourth-quarter and full-year earnings call due to Wyndham Worldwide’s pending acquisition of the company’s franchise and management businesses, but they did give details on how hurricanes hurt fourth-quarter performance in 2017. “We are on track to complete the planned spinoff of our owned real-estate assets as CorePoint Lodging and execute the planned sale of La Quinta’s franchise and management businesses to Wyndham Hotel Group,” La Quinta President and CEO Keith Cline said. “While we do not have much more detail to share at this point, I can say that the transaction is expected to close in the second quarter of 2018, subject to the approval of our stockholders, regulatory approvals and satisfaction of customary closing conditions.”

Accor sells 55% of owned assets amid investor jitters

hotelnewsnow.com Featured Articles·28 February 2018
AccorHotels is asset-light. AccorHotels is asset-heavy. AccorHotels is asset-light again. After eight months of negotiations with unnamed parties, AccorHotels via its AccorInvest division’s Booster project has sold a majority 55% stake of its owned portfolio for a sum of approximately €4.4 billion ($5.4 billion), according to sources. AccorHotels’ CEO Sébastien Bazin has been vocal the French hotel firm would keep the largest single percentage of assets, which it said would be capped at 30%, and thus voting rights. In the call, Bazin said AccorHotels would sell its remaining stake down to 30%, after which a five-year lock down on further activity would be put in place.

Advice to CFOs: Strike While Bankers Are Optimistic

CFO Magazine·28 February 2018
The time is ripe to tap your company’s relationship bank for that credit-line increase or business expansion loan you’ve been contemplating. Why? Three reasons. First, bankers are in a good mood. The Bank Confidence Index from Promontory Interfinancial Network for the first quarter tallied 50.5, a 2.4-point improvement over the pervious quarter and the highest rating since the second quarter of 2016. (The index tracks bankers’ expectations of access to capital, loan demand, funding costs, and deposit competition.)

Hilton Claims Anbang Financial Woes Won't Impact Management of Waldorf Astoria

skift.com - Hotels·28 February 2018
Embattled Anbang Insurance Group Co.’s plan to convert much of Manhattan’s Waldorf Astoria hotel into luxury condos has been the subject of speculation from Wall Street earnings calls to the pages of the New York Post. Now, evidence that the project is going forward is emerging from an unlikely source: a moving van owned by a little-known religious group.


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