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…
Credit Card Processing During Challenging Times
Written by: Juli Barter As the world continues to navigate the COVID-19 pandemic, the hotel industry continues to feel its effects. Hospitality payments provider POST Integrations has provided the following credit card acceptance best practices to help guide you and…
Five Must-Know Steps for Confidently Predicting Hotel Performance
Written by: Nate Nasralla In the first post of this two-part blog series, we outlined the most common mistakes that result in errant and inefficient forecasting processes. Also, while many pieces to the hospitality experience from reservations to revenue management…
Five Mistakes to Avoid When Forecasting Hotel Performance
Written by: Nate Nasralla It’s been said only one percent of businesses are able to achieve 90 percent forecasting accuracy 30 days out. That is pretty poor — and despite access to unprecedented amounts of guest and operations data, and…
Paycheck Checkup: The IRS Encourages Taxpayers to Review Withholdings
April 17, 2018: Tax day in the United States has come and gone. Individual taxpayers have filed all of their paperwork, and have either paid up the amount owed to the United States Internal Revenue Service (IRS) or deposited their…
Is the Lodging Industry Ready for a 12th Edition of USALI?
The 11th edition of the Uniform System of Accounts for the Lodging Industry (USALI) went live on January 1, 2015. This edition presented multiple updates such as changes to the way customers were reported in food outlets, new rooms revenue…
What to Expect: New Changes Coming to Lease Accounting Standards
Written By: Chris Garland, CHAE The upcoming revision to lease accounting standards was one of the topics discussed by the HFTP Hotel Advisory Council in their February 2018 meeting. The surprising conclusion from the council: The hotel industry in general…
Compensation and Benefits… An Important Combination When Attracting and Retaining Talented Staff
Figuring out the right combination of compensation and benefits is the key to attracting and retaining top talent within your organization. Since 2002, the HFTP Americas Research Center has been tracking trends and publishing the HFTP Compensation and Benefits Survey….
Exploring the GHACP: A Valuable Resource for Hospitality Finance Professionals
HFTP has developed a unique resource for the hospitality industry — the Global Hospitality Accounting Common Practices (GHACP). The GHACP is an online resource and guide for hospitality industry accounting practices, which includes four major parts: operating schedules, indextionary, HFTP…
The Advisory Advantage: Help Other Professionals Get CHAE or CHTP Certified
Written By: Robin Bogdon, HFTP certification manager Your experience can make a difference! If you are an active CHAE or CHTP designee, you can apply to become an advisor to other professionals seeking to achieve their own HFTP certification designation….