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 and demand segmentation, gross versus net reporting, and the addition…

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 is not prepared for the changes, and there is no viable…

HFTP 2018 Compensation & Benefits Survey

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. The purpose of this survey is to assist industry executives…

Are You Ready for the New Revenue Recognition Accounting Standards?

By Chris Garland Revenue recognition standards have been converged and are now changing for both IFRS (IFRS 15) and US GAAP (ASC 606-10) beginning in 2018. US GAAP will allow non-public companies to transition beginning in 2019. After receiving input from the HFTP Hotel Advisory Council, the American Hotel &…

HFTP Hospitality DPO Task Force Outlines Objectives as Industry Prepares for GDPR May 2018 Deadline

By Alvaro Hidalgo The European Union (EU) General Data Protection Regulation (GDPR) that was announced in April 2016 put in place a substantial mandate on EU-based organizations, as well as any organization doing business with EU citizens. The GDPR will be in force in the EU starting May 25, 2018…

Be a 2017 Annual Convention Guest Blogger – Apply Today!

Returning this year, HFTP Connect is looking for up to three professionals involved with the hospitality industry who would like to write original and educational blog posts about their Annual Convention experience. Guest bloggers do not have to be professional bloggers; however, must have good writing skills and an interest in sharing their Annual Convention experience. If…

Okay Google, Are Apps Dead? Alexa, Do Hotel Guests Want You?

By Amanda Belarmino Are apps dead? This was a question presented during a session on mobile applications at HITEC Toronto 2017. Between upgrades to phone operating systems and the rapid marketplace acceptance of voice operated technology, some in the press have declared that 2017 will be the end of apps…

Online Travel Agencies and Occupancy Tax: A Proliferation of Lawsuits

By Amanda Belarmino Online travel agencies (OTAs) such as Expedia and Booking.com are the channel of choice for approximately 14 percent of all hotel bookings in the United States. Typically, these channels are responsible for collecting occupancy tax directly from the guest and then pay the hotel directly for the…

Will Blockchain Technology put Airbnb, Expedia and Priceline Out of Business?

Last month at HITEC Toronto, it would seem that HFTP put Blockchain Technology (BT) right in the middle of hospitality’s radar. After some well-received education sessions and an announcement by HFTP that an industry taskforce on the subject was being organized, the “blockchain buzz” began in earnest. Here are some…

So Long, Farewell “O Canada!”

Written By: Jennifer Jones Another HITEC down, and it may have been one of the best yet. “O Canada” how you impressed me! I must admit I had my doubts on what level of turnout there would be, with potential hassles of passports, border crossings and foreign transaction fees. What…