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  • Members Only: 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.

  • 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.

  • HITEC Special: Forecasting Accuracy: The Living Forecast

    By Jill Wilder. Forward-looking, continuously updated statistical trend analysis is emerging as a strategic tool that performs the practical magic of creating an accurate forecast you can take to the bank.

  • Members Only: IT Spending in the Lodging Industry

    HFTP Research Report: The new USALI Schedule 6 — Information and Telecommunications Systems and the effects thus far on the industry. An analysis of IT spending data in the industry and compliance practices by lodging executives.

HFTP Announces Three New Global Chapters and Expands Student Chapter Networks

HFTP ·10h
Hospitality Financial and Technology Professionals (HFTP) is excited to announce that three new, local chapters have recently been chartered: HFTP Greater Louisville Chapter, HFTP New York University Student Chapter and HFTP Kansas State University Student Chapter. HFTP chapters provide a wide array of benefits to an association's membership -- not the least of which is the collaborative building of knowledge and camaraderie among local and like-minded industry professionals.HFTP's local chapters help industry professionals in the area expand their network, increase educational opportunities and build strong face-to-face connections with peers. Moreover, HFTP chapters give association members support, tools and resources to advance in their hospitality career."We are pleased to welcome these three new chapters to HFTP," said HFTP CEO Frank Wolfe. "HFTP is determined to efficiently serve its members across the globe, so we are excited to provide more expanded networks in additional local areas."HFTP currently has more than 76 local chapters providing opportunities for networking and education throughout the world. HFTP members can attend chapter meetings to connect with their local network of HFTP members and share solutions with professionals in the community. Chapters hold regular educational and social meetings, as well as participate in projects to benefit area charities.HFTP's Greater Louisville Chapter is currently is led by: Chapter President Joshua Bergen, CHAE, CHTP, controller at VENZA; Chapter Vice President Deuce Sapp, CIO at Al J. Schneider Company; Chapter Treasurer Ashley Barke, senior tax manager at MCM CPAs & Advisors; Chapter Secretary Paul West, hospitality technology consultant at Technical Solution Services.HFTP's New York University Student Chapter is currently is led by: Chapter President Hartanto Yuwo, CHIA, student at New York University; Chapter Vice President Harini Premnath, student at New York University; Chapter Treasurer Xinyi Zhu, student at New York University; Chapter Secretary Yixuan Li, student at New York University; Chapter Faculty Adviser Recep "Richie" Karaburun, clinical assistant professor at New York University.HFTP's Kansas State University Chapter is currently is led by: Chapter President Neda Shabani, student at Kansas State University; Chapter Vice President Prasanna Kansakar, student at Kansas State University; Chapter Treasurer Vahid Behzada, student at Kansas State University; Chapter Secretary Dalton Hahn, student at Kansas State University; Chapter Faculty Adviser Arslan Munir, Ph.D., assistant professor at Kansas State University.For more information about HFTP chapters, visit www.hftp.org. For more information about HFTP's new chapters, read this blog on HFTP Connect.About HFTP Hospitality Financial and Technology Professionals (HFTP), established in 1952, is a hospitality nonprofit association headquartered in Austin, Texas USA with offices in Hong Kong, United Kingdom, The Netherlands and Dubai. HFTP is recognized as the spokes group for the finance and technology segments of the hospitality industry with an international network of members and stakeholders. HFTP uniquely understands the industry's pressing issues, and assists its stakeholders in finding solutions to their challenges more efficiently than any organization. HFTP offers expert networks, educational resources, career development programs, research, leadership opportunities and conferences and events. HFTP produces international events throughout the year, including the world's largest hospitality technology tradeshow and conference brand: HITEC. The association also owns the world's only hospitality-specific search engine: PineappleSearch.com. For more information about HFTP, visit www.hftp.org.For the latest news, visit the HFTP News page at news.hftp.org and the HFTP Connect blog at blog.hftp.org.Follow HFTP on social media: Facebook (@HFTPGlobal); LinkedIn; Twitter (@HFTP); Instagram (@HFTP_HITEC). Stay tuned to HFTP's industry-specific, informational news sites: HFTP News, HITEC Bytes, HFTP Club Bytes, HFTP Finance Bytes, HFTP GDPR Bytes and HFTP FB Bytes. HFTP event photos are available on Flickr, and HFTP event videos are available on YouTube.
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RLJ Lodging Trust Completes Sale of 205-Room Embassy Suites Napa Valley for $102 Million ($498K Per Key)

Hotel Online·16 July 2018
Lodging Trust (the 'Company') (NYSE: RLJ) today announced that the Company has closed on the sale of the 205-room Embassy Suites Napa Valley ('Embassy Suites Napa') for $102.0 million or approximately $498,000 per key.
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RLJ Lodging Trust Names Sean M. Mahoney Executive Vice President, Chief Financial Officer and Treasurer

Hotel Online·16 July 2018
RLJ Lodging Trust (the 'Company') (NYSE: RLJ) today announced that Sean M. Mahoney will join the Company as Executive Vice President, Chief Financial Officer and Treasurer, effective August 1, 2018. Mr. Mahoney will report directly to Leslie D. Hale, the Company's incoming President and Chief Executive Officer.
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Dual Performance Review: Reporting to Your Owners & Guests

Hotel Online·16 July 2018
Kokua Hospitality has extensive experience in hotel and resort management, purchasing, finance, and ever-evolving information technology. We spoke with Kokua Hospitality President Kirk Pederson about the constant balancing act of a management group and exceeding the expectations of both the owners and guests.
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Hospitality Financial Leadership: Credits to Cost of Sales in Food & Beverage

Hotel Online·16 July 2018
Giving the proper credits to your food and beverage operation is an important task. You want to ensure it is done consistently and fairly. This article examines all the usual credits, different types, the proper way to take them and why we need to take them.
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VICI Properties Completes Acquisition of Octavius Tower at Caesars Palace Las Vegas for $507.5 Million

Hotel Online·12 July 2018
VICI Properties Inc. (NYSE:VICI) (together with its affiliates, “VICI Properties” or the “Company”), an experiential real estate investment trust (“REIT”), today announced it has completed the acquisition for the previously announced transaction with Caesars Entertainment Corporation (NASDAQ:CZR) (“Caesars Entertainment” or “Caesars”) to acquire, and lease back, all of the land and real estate assets associated with the Octavius Tower at Caesars Palace for $507.5 million.

EHL becomes a new focal point for finance

EHL ·12 July 2018
Private marketsUnlisted investment products are on the rise. The amount of fund managers in private equity has almost doubled since the financial crisis in 2008. It is also a less abstract financial activity for a youth in search of meaning, with tangible added value. It means stimulating the real economy through investment, creating intellectual property, encouraging transparent governance, generating growth and employment. Value needs to be created at all levels, if only to get out of an investment and make a profit. It is also an activity with varied human dimensions. "Private equity is an activity largely dominated by human relations. It is a question of establishing a relationship built on trust to work together over time. This attracts talent, perhaps wearied by the statistical models of public equity and the dehumanizing dimensions of stock markets" explained Cyril Demaria, speaker at the conference and Head of Private Markets for Wellershoff & Partners, a Zurich-based financial consulting firm. Although most participants agreed that the private markets were nearing the end of a particularly good cycle, there is still great potential for Switzerland, a country which still accounts for relatively few private equity funds for a colossal amount of assets under management by private banks.Participants of choicePension funds, insurers, cantonal banks, Zurich and Geneva-based private banks, family offices, investment funds: everyone wants to be up-to-date and most of the main Swiss financial players responded to the invitation to the conference. For good reason: the outstanding speakers. Per Stromberg, an economist at Stockholm University and member of the Nobel committee, was mandated by the Norwegian sovereign fund (the second largest pension fund in the world) for an analysis of the opportunity to invest in Private Equity. He came to present the main conclusions of his report. "We have time to ask ourselves questions and think about them. It is a luxury that practitioners don't have. It is important that we can meet, as we did at EHL, to create and maintain a bridge between business and academic research", he underlined in an interview. His research, which served as a status report for the industry, was one of the topics discussed during the two days of the conference. Other high-quality interventions took place, with notably the participation of Tim Jenkinson and Ludovic Phalippou, both university professors at Oxford, reporting on the current and future state of private markets.The connexion with EHLThe hotel business is changing, and so are the required skills. At EHL, faculty members engage in research like any other university, and finance is no exception. "Hotels are an illiquid asset par excellence which we know very well", Emmanuel Jurczenko, director of the Hospitality Real Estate Finance Institute at EHL and initiator of the conference, recently said. However, not only the hotel industry needs finance, but also the financial sector that needs EHL graduates. During the conference, Cyril Demaria confided that "EHL graduates are different from the purely technical profiles with standardized courses. They have decisive interpersonal skills to interact with entrepreneurs from various social and industrial backgrounds. Knowing how to listen to them and adapt is important for negotiating, convincing and then collaborating with them". This mix of business knowledge and human know-how is the reason for which, increasingly, EHL graduates are being offered positions in finance, but also in luxury, consulting and many other service activities.About the EHL Private Markets Research ConferenceFor one of the co-organizers of the conference on private markets, Emmanuel Jurczenko, "this event is a forum to explore the latest advances in private market research combining academic and practitioner perspectives. Its ambition is to become in the next five years a leading European reference on private investments thanks to both the quality of the work presented and the diversity of actors represented". Investing in private markets requires an in-depth knowledge of private equity, private debt and real assets (real estate and infrastructure). Although difficult, it is becoming more and more popular among institutional investors due to the low yield environment and the potential for diversification of private investments. Despite the absence of data sets for private markets, significant breakthroughs have recently been made in the research on understanding the performance and risk factors of private investment.
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Denihan Appoints Nadia Karmali as VP of Revenue Management and Michael Shiwdin as VP of Asset Management

Hotel Online·11 July 2018
Denihan Hospitality ('Denihan' or the 'Company'), a full-service hospitality company focusing on developing, owning, managing and franchising boutique luxury and lifestyle hotels, is pleased to announce that experienced industry professionals Nadia Karmali and Michael Shiwdin are joining the Company as Vice President of Revenue Management and Vice President of Asset Management, respectively.

BLLA Abroad - The world's leading boutique association launches exclusive Boutique Social Club dinner series in London

BLLA ·11 July 2018
New York -- Since the beginning, the Boutique and Lifestyle Leaders Association's (rebranded from Boutique and Lifestyle Lodging Association) presence has been global. From our international members and early conferences in Paris and London, we have garnered support and cultivated communities all around the globe. Two recent excursions over the pond have solidified our foothold on the boutique community and will foster boutique developments in tomorrow's most sought-after vacation destinations.On May 1st, 2018 we successfully launched the first installment of the Stay Boutique Social Club Dinner Series. A series aimed at gathering the minds pushing boutique forward in an intimate, comfortable setting, thus bolstering the community we represent. In a collaboration with Sharan Pasricha at The Hoxton Hotel, ten of boutique's brightest broke bread over their shared passion for our rapidly expanding sector.BLLA's COO, Ariela Kiradjian, produced the dinner series and stated, "This first event in London showcases the importance of connecting with like-minded professionals desirous of reaching out beyond their own industries and being open to new relationships and new ways of thinking. We are extremely proud and excited that everyone had such a good time. They basically came to the dinner as strangers and left as friends. What could be better than that!"Emma Hartland-Mahon, UK Director at J Public Relations, Gigi Vega, GM at Nobu Hotel Shoreditch, Sophie McElligott, Head of Communications at Dazed Media, Sue Walter, Ex-CEO at Hospital Club, Tessy Antony de Luxembourg, Director of VICE IMPACT EMEA Regions, Romilly Martin, Brand Director at Hoxton Hotels, John Green, Managing Director at JG Collection, Hannah Burden, Marketing Manager at Our Vodka and Filip Boyen, CEO at Small Luxury Hotels all joined BLLA COO Ariela Kiradjian for an unforgettable night of conversation, networking, and fun. The promising start of our invite-only dinner series points to a fervent interest in the initiatives of BLLA by respected, global boutique brands.Equally as inspiring was a recent Scottish excursion hosted by Scottish Development International. Michael Schroeder, Vice President, a long time attendee and supporter of BLLA's events and conferences, invited Ariela Kiradjian (COO at BLLA) along with Salt Hotels owner David Bowd, Phillip Allen, General Counsel at 21c Museum Hotels, Mostafa Abdella, Managing Director at Ace Hotel London Shoreditch, Darrell Slomiany, Director of Development at BLVD Hospitality, Jason Wischoff, VP Development UK, Europe & Africa at Dream Hotels and Miranda Mancuso, VP Development at Standard Hotels to take in all Scotland has to offer."We were delighted to host the US Boutique hotel operators in Scotland where they visited Edinburgh and Glasgow," stated Schroeder. "Each city offers a distinctive experience to discerning visitors from across the globe, and they both provide a great opportunity for unique boutique hotel operators like them to build their business in a setting that complements their authentic brands.""Tourism is one of Scotland's key sectors, currently contributing PS6 billion to our economy every year, and SDI, along with our partners, welcome the opportunity of working with them & the BLLA to achieve even greater success. We hope that we can all capitalize on the synergies between their brands and our national and city tourism destination strategies"Ariela stated, "Michael and his team did an outstanding job at coordinating this amazing trip and itinerary and I am ecstatic about the opportunities for our boutique brands to discover new destinations and to also be a part of it all."The country is ripe for boutique development as evidenced by the growing number of independent and lifestyle facing businesses. Representatives from the arms of Scottish government along with hotel developers presented on their city plans and opportunities for hotel development through a series of presentations over the course of the trip, supplemented of course with castle visits and whisky tastings.Boutique hotels succeed because they envelop their patrons in culture and immerse them in novel experiences. Edinburgh is a city with rich history, stunning architecture and sprawling views. These are the building blocks from which it will establish itself as a force in the boutique sphere.Additionally, BLLA is working with other Economic Development Organizations to help bring attention to their destinations for some of the world's best boutique and lifestyle hotel brands. BLLA is a great partner to navigate this special hospitality sector as we have a very specific 30,000 ft. view of the industry which brings a wealth of knowledge to both developers and countries.About the Boutique & Lifestyle Leaders Association (BLLA)The world's most innovative and progressive organization dedicated to the luxury independent boutique and lifestyle industries. The association connects the world's most dynamic executives with cutting edge business and operational insight. BLLA's membership benefits allow access to the world's leading minds in the space through events, research and education. Our mission is to provide leadership and opportunities for global recognition and connections to the world's best hotels, vendors and manufacturers. All resulting in strategic interactions and access to information that helps people and organizations thrive. Join the movement that BLLA gave birth to in 2009 and become a part of something that is truly unique, exciting and inspirational. www.blla.org
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Paramount Lodging Advisors (PLA) Sells Texas Fairfield Inn & Suites

Hotel Online· 9 July 2018
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Fairfield Inn & Suites in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the transaction.
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Hospitality Ventures Management Group (HVMG) Names Roxanne Rees Director of Asset Management and Analytics

Hotel Online· 9 July 2018
Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today named Roxanne Rees to the role of director of asset management and analytics. In her new role, Roxanne will develop and maintain operational reporting systems, as well as produce operational and financial analysis, for HVMG’s portfolio of independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hilton, Marriott, Hyatt, and IHG brands.
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Paramount Lodging Advisors (PLA) Leads the Successful Sale of the Downtown Milwaukee Hyatt Regency

Hotel Online· 5 July 2018
Paramount Lodging Advisors (PLA) is pleased to announce the sale of the Hyatt Regency Milwaukee. PLA was exclusively engaged to represent the seller in the transaction of the 481-room full-service property in downtown Milwaukee. The marketing efforts were led by Senior Managing Directors Bennett Webster and Brent Clemens, and Managing Director Adam Montufar.
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Spirides Arranges $5 Million Hotel Construction Loan for New Holiday Inn Express in Latta, SC

Hotel Online· 4 July 2018
Spirides Hospitality Finance Company has successfully arranged, and its client has closed on a $5 million senior loan facility from a southeast U.S. headquartered bank to finance the development of a new Holiday Inn Express in Latta, South Carolina.
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After two years of delays, East Ridge Budgetel Inn & Suites now open

Hotel Online· 3 July 2018
After two years of remodeling and unforeseen expenses at the new Budgetel Inn & Suites in East Ridge, the 266-room hotel -- the biggest one in the city -- is now open for business.

Chase and Hyatt Introduce the New World of Hyatt Credit Card

Hyatt ·29 June 2018
CHICAGO -- Chase Card Services (NYSE:JPM) and Hyatt Hotels Corporation (NYSE: H) today announced the launch of the new World of Hyatt Credit Card, designed to reward today's travelers for making everyday purchases - both while at home and on the road. From fitness to transportation to dining, World of Hyatt cardmembers will be rewarded for their spend, making it easier to elevate their status and earn free nights at Hyatt destinations. Cardmembers will also be able to earn Bonus Points with the addition of a new fitness club and gym memberships category.Benefits of the new World of Hyatt Credit Card include:More Bonus Points:9x Points total on Hyatt stays and experiences - that is based on:4 Bonus Points per $1 spent on the card at Hyatt hotels and resorts, including participating restaurants and spasPlus 5 Base Points per eligible $1 spent as a World of Hyatt member2x Bonus Points on dining at restaurants and airline tickets purchased through the airline2x Bonus Points on fitness club and gym memberships2x Bonus Points on local transit and commuting including ride share services1 Bonus Point on all other purchasesMore free nights:One free night each anniversary year at a category 1-4 Hyatt hotel or resortOne additional free night at a category 1-4 Hyatt hotel or resort after spending $15,000 in an anniversary yearMore ways to achieve higher status:Automatic Discoverist status in World of Hyatt5 qualifying night credits every year2 qualifying night credits after every $5,000 in spend on the cardAdditional benefits:No foreign transaction feesPoints don't expire as long as the credit card account remains open"We remain focused on deepening our relationship with our members, by increasing the frequency and relevancy of engagement with World of Hyatt and caring for them across more dimensions of their lives. We've continued to listen to our members and tailored our credit card program to reflect those aspects that are most important to them," said Amy Weinberg, senior vice president, World of Hyatt. "This new card offers more ways for cardmembers to enjoy Bonus Points, free nights and elite status; including a new Bonus Points category focused on rewarding members for staying healthy, which demonstrates our commitment to caring for our guests' well-being.""With fitness memberships reaching all-time highs, and wellness tourism growing even faster than the tourism industry, we wanted to give Hyatt loyalists this unique accelerator benefit with the new World of Hyatt credit card," said Leslie Gillin, Chase Co-Brand Cards President. "Also, with double points on the transit category like the popular and growing ride share services, World of Hyatt Credit Cardmembers can earn free hotel and resort stays even faster."In addition to the expanded card benefits, for a limited time new World of Hyatt Cardmembers have access to a rich new cardmember bonus, with benefits including:New World of Hyatt Cardmembers can earn up to 60,000 Bonus Points (equivalent of up to 12 free nights at a category 1 Hyatt hotel or 2 free nights at a category 7 Hyatt hotel or resort) on qualifying purchases.40,000 Bonus Points after spending $3,000 on purchases in the first three months from account opening and another 20,000 Bonus Points if they spend $6,000 total within the first 6 months.Existing Hyatt Credit Cardmembers can upgrade to the new World of Hyatt Credit Card at any time and for a limited time can earn 2,000 Bonus Points if they are approved for the new product.The new World of Hyatt Credit Card has an annual fee of $95. For more information about the new World of Hyatt Credit Card, visit http://www.GetHyattCard.com.
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Four Traits to Look for in an On-Demand Accounting Partner

Hotel Online·25 June 2018
Finding the right match in an accounting partner bears some similarities to finding the right partner in marriage. A solid accounting partner understands your (industry-specific) needs, acknowledges your flaws, and adjusts to any curveballs that come your way.
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HVS Design and JN+A Release 2018 Hotel Cost Estimating Guide

Hotel Online·21 June 2018
HVS Design and Jonathan Nehmer + Associates (JN+A) are proud to announce the completion of the 2018 Hotel Cost Estimating Guide. The Guide is a comprehensive listing of capital expenditure construction and FF&E costs for hotel renovations in the USA.
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Choice Hotels Signs With Four Raines to Develop Two Cambria Hotels in Greenville and Summerville, South Carolina

Hotel Online·20 June 2018
Choice Hotels International, Inc. (NYSE: CHH) has signed two agreements with Four Raines, LLC to develop Cambria hotels in Greenville and Summerville, S.C., both rapidly growing business regions. The Cambria Hotel Greenville and the Cambria Hotel Summerville are both slated to open in October 2019.
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New global role for Wyndham's Barry Robinson

hotelmanagement.com.au·20 June 2018
Popular hotelier Barry Robinson has been elevated to a new global role with Wyndham Destinations, following the company’s spin-off from the hotel group and listing on the New York Stock Exchange.
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Coliseum Capital Management and Vindico Capital Acquire RLH Corporation Shares Previously Held by HNA Investment Management

Hotel Online·19 June 2018
RLH Corporation (NYSE:RLH) announced today that funds and accounts managed by Coliseum Capital Management (Coliseum) and accounts advised by Vindico Capital have acquired 3.8 million shares of company stock previously owned by HNA Investment Management LLC. Following the transactions, Coliseum beneficially owns 13.4 percent of RLH and accounts advised by Vindico Capital beneficially own 2.0 percent of RLH.
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Callaway Resort & Gardens Relies On Guestware Rapid Response for Asset Protection, Guest Service

Hotel Online·19 June 2018
"Guestware does an excellent job of taking, recording and directing guest and staff requests at Callaway Gardens. But for me, it is all about Guestware’s analytics,” said Marc B. Bauer, vice president, Resort Operations for Callaway Resort & Gardens (Callaway) in Pine Mountain, Georgia. Callaway is a 670-room full-service destination that offers a Spa, two 18-hole golf courses, a Lodge, cottages and many activities and attractions. Guestware is the leading cloud-based guest-service and rapid response solution provider for hotels and resorts.
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Design and maintenance: The missing link

National Association of Hotel & Lodging Engineers (NAHLE)·15 June 2018
What’s the connection between maintenance and design in institutional and commercial facilities? In most organizations, that connection is unfortunately limited, according to a new report from the U.S. General Accounting Office. The report highlights the disconnect that exists between those who plan and design buildings and those who are responsible for the facilities’ maintenance once they open.
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Paramount Lodging Advisors Team Sells Hampton Inn in Victoria, TX

Hotel Online·14 June 2018
Paramount Lodging Advisors (PLA) has arranged the sale of the Hampton Inn Victoria, TX. Managing Director Kami Burnette and Senior Associate Hussain Waseem sold the property via the Real Insight Marketplace platform.
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Pinnacle Hotel Management Integrates Accounting, Budgeting/Forecasting and Business Intelligence to Support Growth

Hotel Online·13 June 2018
Monica Nichols, Director of Finance for Pinnacle Hotels says, “After 14 years in the hotel industry I have seen an incredible evolution in the hospitality business intelligence we utilize. Transitioning from basic financial statements to much more detailed variance and analytical reports has had a very positive influence on how Pinnacle manages and operates its properties. As a company, we now make much better decisions when it comes to budgeting and forecasting.”
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BirchStreet Offers Comprehensive Inventory Management Solution

Hotel Online·12 June 2018
BirchStreet Systems, a long leader in the hospitality procure-to-pay space, is debuting its comprehensive Inventory Management system at the upcoming HITEC show in Houston.
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Hospitality Financial Leadership - Business Acumen and Women

Hotel Online·11 June 2018
I may have caught your attention with this potentially explosive title, so I hope you will read this and either help change this inside your hospitality business or personally get your hospitality business acumen on, whether you’re a woman or not.

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