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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.

  • 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.

PMZ Realty Capital Secures First Ever CMBS LOAN for Tru by Hilton

Hotel Interactive ·22 January 2019
PMZ Realty Capital LLC, a boutique real estate investment banking firm, has secured the first ever CMBS loan for Tru by Hilton property. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital.

How to avoid workplace retaliation claims

mycloud HOSPITALITY·21 January 2019
Workplace retaliation claims have nearly tripled in frequency over the past decade and now are one of the most frequent claims filed in employment-related lawsuits and administrative charges. Not only are they on the rise statistically, they also are one of the most difficult claims to defend against.

U.S. Sees Sharp Decline in Investment from China

Hotel F&B Observer·21 January 2019
Chinese foreign direct investment in the United States declined significantly to $4.8 billion in 2018—an 84% decrease from the previous year, according to analysts at Rhodium Group.

Hotel Association of NYC Offers Free Rooms to Furloughed Federal Workers for Emergencies

Lodging Magazine·21 January 2019
In a show of goodwill to thousands of workers affected by the government shutdown, the Hotel Association of New York City announced it will provide free hotel rooms to furloughed federal workers who need to travel to New York City for personal emergencies during the shutdown.

MENA expects $30B in hotel-construction contracts

Hotel Management·21 January 2019
According to the second annual Hotel Investment Forecast from the Arabian Hotel Investment Conference, close to $30 billion worth of hotel-construction contracts will be awarded in the Middle East and North Africa between now and 2023.

Marilyn Cox: Advancing in the World of Hotel Brokers

Lodging Magazine·21 January 2019
Back in the mid-2000s, Marilyn Cox saw the writing on the wall while working in residential real estate in Atlanta. She noticed that some deals weren’t closing and, sure enough, that trend soon moved to the commercial side.

Aussie hotel real estate sales hit $1.8 billion in 2018

Hotel F&B·21 January 2019
Investors snapped up $1.8 billion in hotel real estate transactions over the course of 2018, according to Colliers International’s Hotels Sales Analysis Report for the year, the company announced today.

Bali Mulls How to Charge $10 Tax on Foreign Tourists

mycloud HOSPITALITY·19 January 2019
Tourism revenue accounts for a vast majority of Bali's income, but the crowds take a toll on its resources and infrastructure. Now the provincial government will charge a toll of its own: a $10 tax on foreign visitors to help defray the impact.

Braemar Buys Ritz-Carlton Lake Tahoe; More...

Hotel F&B Observer·18 January 2019
Braemar Hotels & Resorts closed on the acquisition of The Ritz-Carlton Lake Tahoe, construction financing was secured for a massive mixed-use development in California, and there’s more.

Amex GCS Billings & Revenue Jump Again in Fourth Quarter

Hotel F&B Observer·18 January 2019
American Express' corporate card business continued its growth in the fourth quarter of 2018. The Global Commercial Services division, which operates Amex's corporate card programs, had $127 billion in card-billed business, up 9 percent over the final quarter of 2017 on a foreign currency-adjusted basis, according to Amex's latest earnings report. Meanwhile, corporate cards in force reached 14.5 billion, up 4 percent over the previous year.

Four Proactive Measures To Meet Website Accessibility Standards

Lodging Magazine·18 January 2019
Carol C. Lumpkin and Stephanie N. Moot, partners at the Miami office of K&L Gates, advise businesses with websites to take the following steps to ensure their awareness of and adherence to the laws that pertain to their website accessibility.

Travel retail market size worth $128.8 billion by 2025

Hotel Online·18 January 2019
The global travel retail market size is expected to reach USD 128.80 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a strong CAGR of 8.7% over the forecast years. Rapidly expanding retail and travel and tourism industry along with increasing per capita income levels is expected to drive the market growth. Different retail channels help in improving the retail experience of the passengers while contributing to economic growth.

7 Golden Rules for ERP Implementations

CFO Magazine·17 January 2019
A few years ago, I made the decision to leave a big multinational company and join a privately held mid-sized company. I joined as the CFO with expanded responsibilities that included overseeing HR and IT. One of the first initiatives I undertook was to understand the company’s IT infrastructure. I knew that if we wanted to grow rapidly and support the owner’s vision of tripling the size of the business in five years, we had to have the right IT infrastructure to support the growth.

Driftwood Acquisitions & Development Marks Sale Of First Hotel Asset In Its Portfolio

Hotel Online·16 January 2019
Driftwood Acquisitions and Development (DAD) – a privately held firm specializing in the acquisition, repositioning and investment syndication of high-quality hotel assets – announced today that it sold the SpringHill Suites Altamonte Springs, a Marriott-branded, 90-key hotel located 10 miles north of Orlando.

Hilton's Diplomat Beach Resort Hollywood Could Fetch $1 Billion

mycloud HOSPITALITY·10 January 2019
The Diplomat Beach Resort Hollywood Curio Collection by Hilton, owned by a subsidiary of Brookfield Asset Management, has been put on the block and could fetch as much as $1 billion, according to people familiar with the matter. Thayer Lodging Group, the Brookfield subsidiary, has tapped Newmark Knight Frank and Hodges Ward Elliott to market the 1,000-room resort in Hollywood, South Florida, according to one of the people, who requested anonymity.

How the director of finance role has become diluted

Hotel Management· 9 January 2019
Hotel managers, often alongside their asset managers, have engaged in many initiatives to improve operating efficiencies and reduce costs in recent years. With emphasis on revenue growth and maintaining assets in competitive condition, areas such as the administrative and general department have become an area of focus for savings because roughly 50 percent of the operating expenses of a hotel operation are labor or labor-related.

OTAs busy to adapt to China's new e-commerce law

hotelmarketing.com· 8 January 2019
Value-added services are no longer automatically selected on China’s online travel platforms. A major consumer complaint against online travel agencies was upselling on their platforms - a practice where OTAs sign up customers for additional services like travel insurance unless they manually uncheck the options before purchasing. Now, it seems that the law is falling on the side of consumers as extra services can no longer be checked as a default on e-commerce sites.

Ireland's new laws put time limits on home-sharing

Hotel Management· 4 January 2019
In June, new restrictions will limit the ability of homeowners in Ireland to rent their homes on sharing platforms like Airbnb, but this isn't stopping people from advertising their houses and apartments as demand grows, according to a new report from home-sharing tracking service AirDNA.

Yucatan, Mexico, attracting domestic hotel investment

Hotel Management· 4 January 2019
The Tourism Business Council of Yucatan is predicting an increase in hotel investment and development for the Mexican cities of Mérida, Chichén Itzá and Valladolid.

Who's Buying, Selling Or Financing?

mycloud HOSPITALITY· 4 January 2019
Hotel Business has been tracking recent sales, acquisitions and other transactions. Here’s more on the recent deals.

Tax reform changes require close study and potential shifts in strategy for the hospitality industry

Today's Hotelier (by AAHOA)· 4 January 2019
The signing of the Tax Cuts and Jobs Act (TCJA) into law in December 2017 marked the arrival of new opportunities and challenges for taxpayers in the United States, and the hospitality industry has been among the fields working to survey and navigate this previously unexplored tax landscape.

The Four Most Common Liquor Licensing Mistakes Restaurateurs Make

Modern Restaurant Management· 4 January 2019
Amidst the dozens of responsibilities that come with owning or managing a restaurant is the relationship between your restaurant and liquor licensing laws. Given that most restaurants try to make alcohol sales account for roughly 30 percent of their revenue, liquor licensing is crucial to the success of a new restaurant. An awareness of the unique challenges surrounding the acquisition of a liquor license should be on the list of priorities for any new restaurateur.

Nezasa Raises $2.5 Million for Agency Software: Travel Startup Funding This Week

skift.com - Digital· 4 January 2019
Nezasa, a provider of booking tools for travel agents, and Halan, an Egyptian ride-hailing service for tuk-tuks and motorcycles, have recently received funding.

MGM Resorts Embarks on Two-Year Cost-Cutting Plan

skift.com - Hotels· 3 January 2019
MGM Resorts' CEO says it clearly: We're in the last stages of economic expansion this cycle. Hotel chains will begin to prepare themselves for what comes next.

Berkadia raises $24M in financing for Atlanta Holiday Inn

Hotel Management· 3 January 2019
Berkadia Commercial Mortgage, a real estate company founded in 2009 as a joint venture between Warren Buffett’s Berkshire Hathaway and Leucadia National Corporation, raised $24 million in financing for the Holiday Inn & Suites Atlanta Airport North.

Who Bought Whom in 2018

Hotel Online· 3 January 2019
The BTN Group wrote about 35 acquisitions in 2018, led by Wyndham's $1.95 billion acquisition of La Quinta. The following acquisitions either have closed or are pending heading into the new year.

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