I was recently having lunch with a club CFO. She explained to me that it was difficult to do year-over-year comparisons because each of their two golf courses had been closed for renovation. One was closed last year, and the other was closed the prior year.
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.
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.
Although I have been preoccupied with getting in the education sessions purely related to hospitality finance, technologies and hotel pre-opening, I made sure to participate in Fun with Fraud and Enchanting Employee Embezzlement in Clubs and Hotels presented by Jerry Trieber, CPA, CHAE, CFE, CFF, CGMA, HFTP Global past president and director of audit services/support at HEI Hotels and Resorts.
The Hotel Financial Coach · 16 Sep
In our business it is no secret that labor is our single biggest expense. Last year the average hotel in North America, according to data collected from thousands of medium- and full-service hotels by a popular industry partner, was right around 50 percent of total revenues. What is a secret is how most hotels manage their largest cost. In this piece I am going to talk about creating and using a staffing formula for all scheduled positions. In addition, I will talk about the best practices as it relates to having and using staffing guides. First of all, let’s define what a staffing guide is and what constitutes a staffing formula. The two are separate but also come together when used properly. Allow me to explain.
PAR Springer-Miller · 12 Sep
SpaSoft, an industry leading, all-in-one spa management solution is excited to announce their integration with PXP Financial, an omni-channel, intern
Shiji Group · 12 Sep
By now, you've likely heard about the new credit card payment service directive and its potential repercussions in our industry. What you may not know, however, is that PSD2 is nothing new in fact, it was first implemented back in 2015, even though not all its parts were enacted simultaneously. Strong Customer Authentication, particularly, was meant to come into force only on September 14th, 2019, four years after the approval of the directive. So, you'd imagine the industry to be ready, wouldn't you? Well, not quite...
AH&LA · 12 Sep
According to a new national survey, Americans overwhelmingly support amending federal law to remove loopholes used by short-term rental sites, like A
EHL · 12 Sep
Several reports show the astonishing growth in self workers, contract freelancers and consultants, according to Statista, 10.3% of the working age population is involved in entrepreneurial activities. Alongside this, project task forces are becoming more and more common, and companies are starting to become more agile in their operations, ING's agile transformation started with the 3,500 staff members at group headquarters, Bart Schlatmann: former chief operating officer of ING Netherlands said, "we invested in tearing down walls in buildings to create more open spaces and to allow more informal interaction between employees. We have a very small number of formal meetings; most are informal. The whole atmosphere of the organization is much more that of a tech campus than an old-style traditional bank where people were locked away behind closed doors."
MarketingProfs · 11 Sep
B2B lead generation and sales is a complex world. As technology, trends, and preferences evolve, so do B2B marketing and sales. Identifying and overc
Hotel Management · 11 Sep
The two hotel groups plan to spend their time with lawmakers addressing short-term rentals, renewing Brand USA and online booking scams.
Lodging Magazine · 11 Sep
Washington, D.C. - According to a new national survey, Americans overwhelmingly support amending federal law to remove loopholes used by short-term r
skift.com - Hotels · 11 Sep
Anbang bought the U.S. trophy hotels for $5.5 billion in 2016 and now offloads it to Mirae for a little moseems a good price for the South Korean fir
Hospitality Technology Magazine · 11 Sep
Cloud computing allows hotel to toggle between its two properties, instantly upload separate general ledger entries, and creates ownership reports di
Access Point Financial, LLC · 10 Sep
Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today annou
Tambourine · 10 Sep
In part one of our recent budgeting blog series, we looked at strategies for allocating budgets. Follow the link to read more.
ProfitSword · 10 Sep
ProfitSword, hospitality's premier developer of business intelligence and data integration software, has been selected by Buffalo Lodging Associates,
Aptech · 10 Sep
Aptech Computer Systems, the industry standard for hospitality financial systems announced the Townhouse Hotel Miami Beach implemented the PVNG Enter
Hotel Management · 10 Sep
The 270-room property will be the collection's first in Maryland.
HFTP · 9 Sep
Hospitality Financial and Technology Professionals (HFTP®) is announcing a new philanthropic arm, the HFTP Foundation, which will support the associa
hotelbusiness.com · 9 Sep
Transactions are happening across the industry with acquisitions, financings and sales taking place. Here's some of the recent deals from Trinity Inv
skift.com - Hotels · 9 Sep
This case will be watched closely by global chains and hotel owners as it addresses the contentious issue of whether brands consolidation affects the
skift.com - Digital · 9 Sep
Airline tech vendor Datalex had a spectacular accounting meltdown in 2018. Lufthansa, its largest customer, wants to kill its contract. Meanwhile, Da
JLL · 9 Sep
Singaporean real estate investors have emerged Asia Pacific's number one source of outbound capital in the first half of 2019, and their overseas dea
Hospitality Technology Magazine · 9 Sep
Feature-rich mobile application for independent properties adds cost-effective digital key capabilities for hotels with Onity locking systems.
skift.com - Destinations · 9 Sep
Russia wants to be seen as a global power and attract all the foreign investment that comes with that. After years of restrictive visa regimes, it se
HVS News · 9 Sep
HVS Brokerage & Advisory announced that it has closed on the sale of the 65-key Candlewood Suites Port Arthur/Nederland located at 2125 US-69, Ne
hotelmarketing.com · 9 Sep
As Google ramps up its own travel offerings, online travel agencies are beginning to change up their strategies in retaliation.
hotelbusiness.com · 7 Sep
SALT LAKE CITY--Technology can streamline any number of hotel operations these days. From booking to marketing to housekeeping to guest services to a
HVS · 6 Sep
MGM Resorts acquires stake in Sydell Group, Corinthia sells Panorama Hotel in Prague to S + B Gruppe, LXI forward-funds three budget hotels in the UK