As Occupancy Stalls, Parking Drives Hotel Revenue Growth
By Robert Mandelbaum and Todd Casper Based on the February 2023 Hotel Horizons® report, CBRE is forecasting that total hotel revenue for the average U.S. hotel returned to pre-COVID levels in 2022. This occurred despite the fact that the average…
Total Revenue Management and the Mi$$ed Opportunities
Written by: Katerina Papadima Total revenue management is not a new concept, but it is one that hoteliers will embrace more for the years to come. To implement it, though, we first need to define it. What is total revenue…
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…