HFTP Connect

As we lead up to HITEC 2012 in June, HFTP Connect will be talking to various hospitality professionals about hospitality technology through the Ask the Experts column.

A Financial Expert’s View on Hospitality Technology

Jerry Trieber, CPA, CHAE, CFE, CFF, is director of field accounting for Crestline Hotels and Resorts and the HFTP global treasurer. Trieber is a frequent speaker at HFTP educational conferences, where he educates the industry on internal controls, fraud prevention, Sarbanes-Oxley Act compliance and PCI compliance. He is also a member of the HITEC Advisory Council.

How is your specialty  changing? How will it evolve over the next two to five years?

My “specialty” is hospitality operational finance, which has been changing concurrently with changes in technology. Every year when I attend HITEC, I see new technologies that change the way hospitality finance operates.

For example, there are software packages that have practically automated the income journal process such that the income journal can be prepared with the click of a mouse (it typically takes an hour or two or more to complete a manual income journal). There are machines that fully automate general cashiering functions, handling deposits, due backs and change requests. There are business intelligence programs that allow me to see how my hotels are performing daily (so that I no longer have to wait until the end of a month).

In short, technology is changing the landscape of hospitality operational finance, creating more efficiency at lower operating costs. And in the next two to five years, this phenomenon will only increase. Read More »

This is an excerpt from an article in the 2012 Hotel Yearbook, a forward-looking publication which brings together opinion leaders from the global hotel industry. Please see the note at the bottom of the blog post for more information.

Over the past two decades, the Internet has transformed how hotel rooms are bought and sold. Before, customers typically contacted the hotel directly for information, or relied on travel agents, tour operators or other intermediaries to suggest properties that might be appropriate.

The growth of the Internet in the late 1990s added greatly to the quantity of information available to consumers. However, despite this new-found access to vast amounts of information, the challenge of credibility remained.

Social media potentially help address this credibility issue.

Since travelers enjoy talking about their experiences, discussing future plans and seeking the recommendations of others, social media sites such as blogs, social networks and review sites have become important information resources.  Such sites provide consumers with easy access to a pool of high-quality, topical and most importantly, unbiased information, generated not by commercial interests but by other consumers, thus helping to reduce, if not totally eliminate, the aforementioned credibility issue.

As a result, social media have had an almost immediate and dramatic effect on how travel is researched, planned and bought. Most commentators agree that social media now act as a key element in the traveler’s research process.

Predictions and trends

Below are some of the developments that I see happening in the short term in relation to the hotel social media space: Read More »

Bill Marriott stepped down recently as CEO of Marriott International. In the flood of news coverage, the focus has been on three things:

1. His business history

2. His successor

3. The future of the company and the industry

In general, the news coverage is missing the core ingredient to his success. Can you discover that ingredient in this video?

Hint: It’s in the very first sentence. Read More »

How Mobile Technology is Changing the Face of the Hospitality Industry

For anyone wondering if consumers are embracing mobile technology in relation to the hospitality industry, one just needs to look at the following stats:

• 29 percent, and rising, of U.S. mobile subscribers over the age of 18 have booked hotel stays on their smartphones, according to comScore Inc.’s September 2011 Custom Mobile Retail Advisor Survey.
• During the 2011 holiday season, more than 67 percent of consumers planned to make a purchase using a mobile device, according to PayPal.
• And the number of users is growing as mobile payments are expected to grow 40 percent, reaching $670 billion in transactions and 2.5 billion users globally by 2015, according to Juniper Research.

Mobile Technology Today

Hotels are recognizing the increased consumer interest in mobile technology and are delivering to their guests in several ways.

In addition to mobile optimized web sites and click-to-call reservations for easier booking, hotels are now instituting mobile check-in, event or discount promotions, communications with loyalty rewards members, spa appointments and golf tee times via smartphones and tablets.

This is all being done in an effort to reach today’s plugged-in consumer, who are increasingly expecting these types of services. Read More »

Restaurant’s Litigation Challenges Card Network Data Breach Fines
Cisero’s, a small family restaurant in Park City, Utah, has filed a counterclaim against U.S. Bank and Elavon, Inc., Cisero’s former acquiring bank and payment card processor. They are challenging the lawfulness of Elavon’s demand for indemnification from Cisero’s for fines assessed by Visa and MasterCard on U.S. Bank arising out of an alleged data breach at Cisero’s.

The Cisero’s lawsuit has drawn the attention of Wired, Bloomberg, and The Rolling Stone. Read More »

[Part 1] 2011 Year in Review for Hospitality Technology

[Part 2] 2011 Year in Review for Hospitality Finance

As we begin 2012, we here at HFTP Connect are reflecting on highlights we saw from the previous year to maybe see where we will go in the coming year. This three part series includes the latest happenings in hospitality technology, hospitality finance and with HFTP.

For the final post in our three-part blog series, we focus on the cool things that happened to HFTP throughout the year. 2011 was a great year for HFTP and it looks like 2012 is going to be even bigger – especially with the 40th Anniversary of HITEC and the 60th Anniversary of the association!

But before we get ahead of ourselves looking into the future, let’s rewind and see what HFTP was up to last year: Read More »

This is an excerpt from an original article featured in the January issue of the Hotel Business Review. Reprinted from the Hotel Business Review with permission from www.hotelexecutive.com.

In such a short amount of time, mobile technology has changed the way that the world does just about everything. There’s no doubt about it; smart mobile devices are dictating how we live our lives.

With these mobile devices in our hands, and media and information up in The Cloud, there are limitless possibilities for access.

This is a game-changing development for the hospitality industry.

It is opening a variety of delivery mechanisms for personal guest services that are affordable, efficient and easy to use. Not only is it now easier to travel the world, it is also easier for hotels to operate and could change how guests interact with a hotel. Read More »

Why the Knowledge Exchange is a Different Kind of Conference

Attending conferences is something I don’t always look forward to, even as a meeting professional.

I always like education sessions and gaining key takeaways from them, but I also want an opportunity to network.

When the conference isn’t conducive to connecting with my fellow attendees, it can be really difficult to make those connections. Not to mention how awkward it can be when you are attending a conference for the first time and don’t know anyone else there.

We hear the same thing from our members.

Not only is there a need for quality sessions, but there is a huge want for those connection times to exchange problems or ideas with fellow conference attendees.

These two principles are the spirit behind HFTP’s newest conference – the Knowledge Exchange. Read More »

[Part 1] 2011 Year in Review for Hospitality Technology

As we look forward to 2012, we here at HFTP Connect are reflecting on highlights we saw from the previous year to maybe see where we will go in the coming year. This three part series will include the latest happenings in hospitality technology, hospitality finance and with HFTP.

The 3 Biggest Hospitality Finance Topics for 2011

This time we look into what hospitality finance subjects were buzzed about in 2011. And from the looks of things, some of these topics will be big in 2012 as well. So make sure to tell us your thoughts on these topics and what you think it going to be important this year.

Here’s the list. Read More »

As 2011 comes to a close, we here at HFTP Connect will be reflecting on highlights we saw from the year. This year in review will be a three part series that includes the latest happenings in hospitality technology, hospitality finance and with HFTP.

The 3 Biggest Hospitality Technology Topics for 2011

We start this series with a look into what hospitality technology subjects were buzzed about in 2011. Several of the buzzed about subjects in the list below were mentioned in the HITEC 2011 Special Report.

If you haven’t read the HITEC 2011 Special Report yet, make sure you do it as soon as possible. It is a compilation of white papers from various industry sources on the latest technology trends that the HITEC Advisory Council, a group of industry experts, felt were important to the industry this year and in the near future.

So here we go. Make sure to tell us your thoughts on these topics. Read More »