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 »

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 »

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 »

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 »

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 »

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 »

Modern hotel guests often expect the same comforts as home when they travel. And while the world continues to converge and hospitality technology becomes more accessible, there are still regions of the world that face technology challenges different than others.
Europe is one hot spot in the industry that has a unique set of issues that aren’t found in other parts of the world.

European Hoteliers Face Unique IT Challenges

In Europe, hospitality professionals must deal with various taxation rules, currency, vendors, information security, cultures and more as they cross borders to do business in each country.

Another major difference is the wide variety of hoteliers in Europe. While there are large hotel chains doing business in Europe, there are also many independent and small businesses running hotels throughout Europe. This poses a challenge in raising the awareness of technology available to these hoteliers.

Smaller hoteliers also have to worry about financing technology for their businesses to keep up with the larger chains. With guests bringing their own technology into their guest space hotels now more than ever before are expected to provide seamless integration with the home technologies which can put a heavy burden on IT budgets. 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 »