Results of the 2012 HFTP Compensation & Benefits Survey are available. In addition to providing basic compensation and benefits information such as salaries, bonuses and retirement plans; the survey digs a little deeper by analyzing other various factors such as certifications, property characteristics, and demographic information. This information can be utilized for multiple purposes including salary comparisons, budgeting processes, staffing guidelines, contract negotiation and benefit standards. Read More »
On January 1, 2013, both the United States Senate and the House of Representatives passed the American Taxpayer Relief Act of 2012. Here are some key highlights of the new “Act.” These provisions are effective for the 2013 tax year, except where otherwise specified. With over 100 changes to the Tax Code, we have put together a summary of the changes that will impact businesses. Read More »
Pay or Play?
I started my second day listening to the Thursday Keynote’s, Shawn Achor’s, excellent presentation on how concentrating on the positives improves your career success. I ended the day wondering how I was going to apply his principles to dealing with the Patient Protection and Affordable Care Act after attending the government update session with Brad Steele.
Every club, hotel and business in America with over 50 full time employees has a very difficult decision ahead of them. To Pay or to Play? Do we pay the fines and not offer employee health insurance, or do we offer employee health insurance and pay the fines? Yes, there are fines in both of those options, it is not a typo. Read More »
When I started with HFTP in 2007, I barely understood the need for an association of hospitality finance and technology professionals. I didn’t know much about the industry beyond my personal traveling experiences. But boy has this industry taught me a lot.
Today is my last day with HFTP.
Unfortunately, I’m not only leaving a wonderful job with amazing coworkers and members, I’m also leaving a city I’ve grown to love the past nine years – Austin, Texas.
As I’ve been preparing to leave, there are a few things I’ve realized that the hospitality industry has taught me. And I thought I’d share them with you in one last post.
5 Things the Hospitality Industry Has Taught Me
1. Be (extra) courteous
As a southern girl, I was taught to be courteous. But the hospitality industry takes courtesy and service to a whole new level. Showing true hospitality to guests is obviously a major part of this industry. And I find myself becoming more sensitive to customer service and appreciation. Making sure I say hello more, thanking people for a job well done and filling out surveys even when I only have good things to say (not just when there are bad experiences).
I think with great service comes great people…because the hospitality industry is a fun group of people! Not only is this a tight-knit industry, it’s also a friendly one. HFTP members, conference attendees and hospitality vendors have been some of the nicest people I’ve met. I’m going to truly miss all the friendly smiles at HFTP conferences and events. Read More »
For those of us that participate – we know that.
That’s why we’re so passionate about it.
For example: The Greater Puget Sound Chapter, based in Seattle, Wash., recently held their annual half day seminar. What a success!
It’s valuable to have information on the tip of your tongue
I mean, who doesn’t want to sit in a room and discuss the Department of Labor or the Seattle Sick Leave Act or area union activity?
Then you get hit with the “stunner” that your garbage bags in the kitchen should actually be clear, not black so managers can see what is being thrown away (or actually taken away under your very eyes) – a big thanks to Steve Argo for giving us that small but important tip.
Who knew that Commitment actually creates value controlling food costs?
Then to close out – IP101 (Internet Protocol) – aren’t you on the edge of your seat now?
It is so valuable to have this information on the tip of your tongue when you’re at your property or club. Everything I learned in those five hours are applicable items to be taken away and applied at my property.
“Bye bye black garbage bags, the new kitchen fashion is clear!”
How is your chapter advancing your education?
As Google always lets me know when an HFTP posting comes around – I ask – what is your chapter doing?
The Mid-South Atlantic region hosts their conference each year. Florida is always having a golf tournament and conferences. And Seattle’s half day seminar is rocking (but not due to earthquakes).
Challenge your chapter board to take your membership to the next level and offer some incredibly valuable education that is zero-based applicable. And let your employer know that HFTP is a place where you can learn, implement and propel your property with fantastic learned cost controls.
Jessica Vint, CHAE, is regional controller for The Hotel Group in Edmonds, Wash. She is also a director on the HFTP Global Board.
HFTP Chapter leaders: Want to learn more about how you can plan your own educational event or provide unique opportunities for your chapter? Then you won’t want to miss HFTP’s Leadership Summit in October.
In order to create a global resource for the hospitality finance industry, Hospitality Financial and Technology Professionals (HFTP®) began development on a global hospitality accounting system users guide this past March.
Recognizing that operating hotels is a global industry, HFTP determined that there is not a globally accepted method that financial professionals, ownership structures, investors and benchmarking information services can use to support efficient operations. There is also not a globally accepted method to monitor investment performance from region to region without significant assumptions and data mining.
HFTP’s Global Hospitality Accounting System Users Guide (GHASUG) will address this need.
Where does the project stand right now?
Currently, research is being conducted into current practices. This research will identify who is doing what in different parts of the world, with a view to establishing best practice and providing practical guidance for students, practitioners and professionals involved in the industry.
The guidance will be formulated by industry experts, based on the research findings. To date HFTP has commitments from major information benchmarking companies, hotel corporations, hospitality associations and globally recognized hospitality schools around the world. Read More »
ASK is what we need to do more.
So many hospitality professionals arrive to their workplaces with enthusiasm and passion.
We are proud of what we do and where we work.
We have embraced the challenges of our organizations as merely complications, not limitations.
We commit fully.
We engage with purpose and integrity.
We influence others to their highest potential.
What we do is who we are.
So why don’t we ASK?
As HFTP members, we have access to training at the helm of our industry — technology, leadership, worldwide trends and more are all available to us.
We can choose to be at our own desks for this training, yet we have access to a greater network beyond our corporations and brands.
This network stretches across the globe and can be face-to-face for us: If we just ASK.
If you have not ASKed yet, get started today.
Check out the cost to attend a conference. Get it into your budgets this year.
HITEC 2012 — the largest hospitality technology conference in the world — is right around the corner and a great place to get started in this journey.
ASK to become an HFTP member (attend an HFTP conference this year, including HITEC, and you save $100 off your registration fee by becoming a new member of HFTP).
You would do this for your colleague. But now it is time for you: Time that you get clear about what you want and what you need to be renewed and continue in this dynamic industry of hospitality.
Esther Fullen is controller of two hotels for Charlton Resorts in Banff, Alberta, Canada. She is the chair of the HFTP Social Media Advisory Council and is active with the HFTP Southern Alberta Chapter. You can follow her on Twitter @EstherFullen.
And one of our more popular member benefits are the free webinars we offer twice a month. The beauty of webinars is that you can get education on popular topics from a convenient location (wherever you have Internet access).
And since webinars are free for HFTP members, they are a cost efficient way to get continuing education without having to travel.
Typically, HFTP hosts webinars during work hours in the US. That’s great for members in the Western Hemisphere, but can be hard for members in other parts of the world to attend.
That’s why HFTP is starting to offer more online education geared towards specific regions, at times that are convenient for that region.
Starting this month, HFTP is hosting a series of webinars focused towards Asia. Here’s a sneak peek at the first webinar in the series:
Show Me the Money, Career and Promotion
May 23, 2012, 3:00 p.m. SGT Singapore Time
If you are a student, young professional or someone who is thinking about changing careers, this webinar is for you. James Lee, director of finance for The Regent Singapore, a Four Seasons Hotel, will discuss:
- The difference in profession, job and career?
- Importance of time in career planning
- Knowledge and skill requirements
- Trends and current developments
- Experience and salary
- Career fit and interest
And be sure to check the calendar often for updated listing of webinars.
Steven Stout, CAE, is director of meetings and special events for HFTP.
How the EHL’s Student Business Project added value to a project of global importance
Cleverdis recently interviewed Frank Wolfe, CAE, CEO of HFTP for their Hotel Innovations & Technologies publication. The following is reprinted with permission from Cleverdis.
The world’s top hospitality organizations “leverage” Ecole hôtelière de Lausanne (EHL) in Switzerland as a prime research resource for major projects. How does it work?
At the outset of a Student Business Project phase, each participating company makes a presentation, “pitching” their project to the students, and thus competing with all other companies on the podium, as it is the students who select which project they will undertake.
One can therefore imagine how tough it is to sell accounting to students, when a number of more “fun” projects are on the table.
Could you please explain your project to us and why you’ve decided to work with EHL?
The project — Global Hospitality Accounting Standards User Guide (GHASUG) — is a global hospitality accounting project. There are many types of accounting, but it’s very difficult for someone to come in and compare hotels in different parts of the world, because there is no standardized system. Read More »
So HFTP’s Global Treasurer, Jerry Trieber, CPA, CHAE, CFE, CFF was visiting our office yesterday before he attends the conference. During his visit I was excited to share with him some exciting HFTP certification news.
This week, HFTP reached a new certification milestone. Read More »