Exciting Changes Approved for USALI 12th Edition: Inside Look from the Global Finance Committee
The brain trust of hotel industry experts who are tasked with future planning and development for the Uniform System of Account for the Lodging Industry (USALI®) is back in full, collaborative force to produce the new USALI 12th Revised Edition. This group,…
CBRE Forecasts Enhanced RevPAR Growth in 2023 Despite Economic Headwinds
Written by: Rachael Rothman and Matt Mowell Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons® forecast calls for a 5.8 percent increase in rooms revenue per available room (RevPAR) in 2023. This is…
The Lag in Food and Beverage Recovery
Written by: Robert Mandelbaum and Andrew Hartley According to CBRE’s September 2022 Hotel Horizons® forecast for the overall U.S. lodging industry, rooms revenue per-available-room (RevPAR) will exceed 2019 annual levels in 2022. This is driven by the accelerated recovery of…
A Better Way: Three Questions All Hospitality Accountants Should Ask Themselves
Written by: Shane Middleton“There has to be a better way!” We hear it all the time – even in the accounting department. The truth is that we are always hardwired to want more and better. Unfortunately, we are always looking…
Hospitality Accounting Professionals: All the Reasons to Love What You Do
As the U.S. Thanksgiving holiday approaches, here is a reminder of what our accounting members should be thankful for this year. Written by: Katie Paolino, CHAE When our mind starts to spiral, why is it always into a black hole…
Ask the Expert: Impacts of Hurricane Ian on Property Insurance Renewals for Hotels and Clubs
Written by: Joel Brand With all the news surrounding inflation in the United States, consumer and business costs (as in all the costs of doing business such as taxes, wages and supplies) have increased in 2022. What else do clubs…
USALI 12th Revised Edition Exposure Draft: Energy, Waste, and Water
In updating the Uniform System of Accounts for the Lodging Industry (USALI) to its 12th edition, the Global Finance Committee (GFC) and HFTP reached out to partner with the AHLA Sustainability Committee to enhance the Utilities-Schedule 9 in the USALI 11th edition to become the new Energy, Water, and Waste (EWW) of the USALI 12th edition.
Ramping up Hotel Internal Controls Post-Pandemic
Written by: Neil Grammer, CPA With two major “black swan” events within 12 years of each other, we can learn from the 2008 financial crisis to help ensure internal controls and business processes are working properly as the hotel industry…
Budgeting for 2021: What Is the New Target?
Written by: Arlene Ramirez, MBA, CHAE, CHE, CHIA “To be sure of hitting the target, shoot first, and call whatever you hit the target.” Ashleigh Brilliant Since March of this year, the hospitality industry has been trying to figure out…
COVID-19’s Potential Lasting Impact On Fixed vs. Variable Hotel Expense Ratios
Written by: Mark VanStekelenburg, Kannan Sankaran, Andy Hartley and Vanessa Gonzalez of CBRE As a result of COVID-19, hotel operators have been forced to make tough decisions, including the most basic one on whether to keep the lights on. Many…