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 »

HFTP Global President Lisa Funk, CHAE gathers current and former HFTP Global Board of Directors to answer a simple question: Why did you apply for an HFTP Global Board of Directors position? This will be a two-part series.

If you’d like to apply to be on the Global Board, the deadline is March 1, 2012.  Apply here>

Lisa Funk, CHAE

It’s that time of year again when HFTP calls for applications for the Global Board of Directors and the Executive Committee. You may be sitting there wondering if the time is now for you. If you are thinking about it – then the time is right!

Since joining the hospitality industry in 1997, HFTP has the one constant throughout the years.

When I needed education, I turned to HFTP.

When I needed a network of professionals, I turned to HFTP.

And when I need a certification that showed the industry I was a professional, I turned to HFTP.

I remember when I applied to be on the HFTP Global Board in the spring of 2005. My only thought was that I wanted to give back. Giving back by serving others as a director on the Global Board seemed like the best way to do that. It has been the best experience of my professional life and I encourage you to apply.

But you don’t have to just take my word for it. I thought you might want to hear from a few past and present board members as well. We are all here for you if you have questions. We serve at the pleasure of our membership.

Lisa Funk, CHAE is director of finance for Alexis Hotels and the HFTP Global president.

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 »

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 »

On November 4, 2011, The Hotel Controllers & Accountants Association (HCAA) of Hong Kong celebrated their 20th Anniversary as an association and I was honored to be an invited guest at their celebration.  That day their new publication, A Guide for Hong Kong Hoteliers to the Use and Interpretation of the Uniform System of Accounts for the Lodging Industry, Tenth Edition was delivered from the printers.  HFTP’s logo is on the cover as one of the sponsors of this guide and is an indication of how closely our associations work together. Read More »

How a Sermon Had Me Reflecting on HFTP’s Ability to Pull Me Out of a Rut

I went to church yesterday and the sermon topic was “The Cloud.” It started making me think about HFTP and all I have learned being a member and participating in this association. For example:

• Every time I learn something new about PCI compliance, I am further daunted by how much more is out there to learn.

• I attended a fantastic webinar the other day on Millennials and how they learn. Really insightful. It made me think about some non-millennials who might need to tackle some new learning skills…

The sermon went on to talk about barriers and two points really hit me. Read More »

HFTP Connect is always looking for guest bloggers to provide insight into a variety of topics important to finance and technology in the hospitality industry. Our readers are interested in PCI compliance, club finance, health care reform, cool new technologies for hotels and golf courses, HR issues, going green, F&B cost savings and much more.

Do you have what it takes to be a guest blogger on HFTP Connect? Take this quick quiz:

1. Are you involved in the hospitality industry?

2. Do you know how to write?

3. Do you have a hospitality-related subject you’re passionate about?

4. Is your blog post original content that has NOT been published elsewhere?

If you answered yes to these questions, than you should definitely be a guest blogger for HFTP Connect. Read More »

Key Economic Indicators Point to Smart IT Spending for Hospitality Sector

As slower economic growth threatens to limit demand for travel, Moody’s Investors Service recently lowered its outlook for the U.S. lodging industry. This sobering news reinforces that hospitality technology executives will be faced with the challenge of “doing more with less” when it comes to IT development in the future.

While all signs are pointing to an extended economic slump for the sector, it is still possible for hospitality IT executives to achieve their goals by investing in the right IT projects that enhance the bottom line and are well, smart.

Align Technology, Marketing and Operations to Increase Economic Value

As many in the sector know, a new dialogue has been emerging that focuses on the best use of information technology to fully meet marketing and operational goals – especially in the face of today’s economic climate.

Read More »

Click here to read [Part 1] Energy Savings: Commodity Procurement

Click here to read [Part 2] Energy Efficiency: Use Less

According to a recent EnergyStar report, hotels in the United States spend close to $4 billion on energy each year–that’s $2,196 per available room annually. Given that energy costs will only continue to increase, reducing energy expenditures has become a viable way to reduce overall expenses.

Hospitality properties can decrease energy expenditures in three different, yet complementary, ways:

1. By engaging in commodity procurement measures to reduce the cost of electricity
2. By increasing energy efficiency to reduce energy usage
3. By encouraging the development of sustainable day-to-day behaviors

It’s Easy Being Green

Our first strategy to decrease energy expenditures, engaging in commodity procurement measures, can harvest savings in the 4-10 percent range and typically requires committing to purchase gas or electricity from power marketers.

Our second strategy, implementing energy efficiency measures, can yield reductions as high as 60 percent and includes everything from installing an occupancy-based energy management system to replacing drafty windows and doors. This list is endless.

The least costly–and when done right, most persistent–form of energy savings can be harvested by educating and engaging the people who work or come through the building. But how, exactly, can hoteliers influence guest and staff attitudes to encourage eco-minded-thinking and reduce energy expenditures? Here are a few things that work: Read More »