HFTP Connect

President Obama signed HR 674 — making two unemployed veteran target groups official, starting on the day after the enactment date of Nov. 21, 2011.

New Unemployed Veteran Target Groups:

• 4 weeks: Gives employers a tax credit of up to $2,400 for hiring veterans who have been looking for a job for at least four weeks
• 6 months: A generous $5,600 tax credit is provided for hiring veterans who have been unemployed and available for work for six months or more

The tax credit for the disabled veteran target group (those with service-connected disabilities), which is already in effect, has been doubled to $9,600.

But keep in mind these new veteran tax credits are only approved until the end of 2012.

More Discussion at the Knowledge Exchange

I will be analyzing recent and pending changes of these, and a number of other employer tax credits, during an education session at the Knowledge Exchange on March 22 in Dallas, Texas.

Michael Lancey, MBA, EA, CHAE, is a tax credit advisor for Mckenzie Chase Management, Inc. You can connect with him on Twitter and Facebook.

Photo courtesy of DVIDSHUB’s Flickr photostream.

A recent series of legal tips on Hotel News Now attempts to provide hotel owners and operators with practical steps to overcome common human resources pitfalls.

Article 1:  26 legal tips for hotel HR professionals

Article 2: More legal tips for hotel HR professionals

There are 50 tips stretching over these two articles. 50 is a great number for a scholarly dissertation. But I feel like it is not a practical number with which to encourage decisive action.

So I have a tip I’d like to throw in that boils this down to one thought. I’ll get to that in a minute.

But first let’s review some of their tips:

Some of the tips are quite involved. Take this one. Read More »

Many clubs today have become so overwhelmed with information about social media that they have buried their heads in the sand just like the ostrich does when faced with a threat. With many options to choose from, the time is right to establish a social media strategy.

Consider these three possible options:

1. Use established platforms like Facebook
2. Invest in specialized, private social networking solutions
3. Or do nothing

Because every club is unique, there is no one right answer. The benefits of each strategy should be balanced against the needs and demographics of the club to arrive at the best choice. Read More »

Let me begin by saying that I have no professional affiliation with the company I am about to talk about.  I am but a humble consumer of this product, and am pleased enough with it to share my experience with you.

My wife owns a home-based bakery and recently asked me how she could inexpensively accept credit cards.  Just a few years ago, my reply to her would have involved renting a credit card machine, signing up for a processor and paying monthly statement and processing fees.

But not anymore.

I recently learned about a wonderful little device from a company called Square, Inc.

The Square: By the Numbers

This little device, which is free after a $10 sign-up credit, plugs into the headphone jack of an iPhone, iPad or Android device.  It’s possible to swipe credit cards through the device and, after you have signed up for the Square processing service, start accepting credit cards inexpensively and easily.

The cost is only 2.75 percent of the transaction amount, and there are no hidden statement fees or other charges to pay.  If you enter the credit card number manually (without swiping), the cost goes up to 3.5 percent plus $.15. Most major credit cards are accepted, and the payment – less the processing – is deposited into your bank account the next day. Read More »

How My  College Experience Years Ago Still Relates to HFTP’s Knowledge Exchange

Howdy!

I’m a proud member of the Fightin’ Texas Aggie Class of 2003.

Yes, that just dated me.

But it’s important to this blog post – I promise.

For those that aren’t familiar with Texas A&M University, the university is well known for all of its traditions.

From saying “Howdy” (like above)  – to Muster (honoring fellow Aggies that have passed away) – to being a part of the 12th Man (supporting our team by standing throughout football games) – to the Big Event (the largest one-day student run community service project in the US) – to being proud of where you came from (this is where the class of 2003 comes in) and so much more.

A lot of the Aggie traditions stem around the concept of “the other education.”

Part of the Texas A&M culture is the belief that you receive more knowledge than just the traditional education from the classroom – you also receive your “other education” outside of the classroom.

“The other education” I received through learning from fellow classmates, carrying those connections on throughout the years and being an active participant in my community has been important in shaping who I am as a professional years after leaving Aggieland.

So this got me thinking and relating it to HFTP’s newest conference – the Knowledge Exchange. 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 is a two-part series.

Read [Part 1] for more insights>

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

Read More »

Do you ever wonder if you should be making more money for all the hours of hard work you put into your job?

The 2012 Hospitality Financial and Technology Professionals Compensation and Benefits Survey aims to capture the current salary and benefits information for finance and technology related positions.

The survey also provides information on working environment, responsibilities and much more.

We need your help.

The data you can provide helps us compare this information for professionals working in different geographic areas and demographics.

We realize this may be sensitive information, so the survey results are anonymous.

You do not have to be a member of HFTP to take the survey. Take the time to fill out the 2012 survey before March 5, 2012 and you will be eligible to receive a free copy of the results.

Survey Link:  http://www.surveymonkey.com/s/8NYLTQT

Tanya Venegas, MBA, MHM, is the executive director of the HFTP Research Institute located at the University of Houston’s Conrad N. Hilton College of Hotel and Restaurant Management. The HFTP Research Institute offers free routine research inquiries for HFTP members, and also publishes valuable research in HFTP’s journal The Bottomline.

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 »