Written By: Timothy G. Nauss, CHAE
The HFTP Global board, advisory councils, research centers, and its Austin, Texas-based staff work hard year-round to create and implement wholly new ventures. This is evident with the introduction of brand-new global conferences, digital resources, industry research and more.
With the hospitality industry changing and evolving at a faster pace than ever before, it is imperative to build on past research, resources and initiatives to remain relevant, and ensure that HFTP members are receiving the most updated information possible.
It seems only fitting to begin by addressing data security, as we are just two weeks away from May 25 — the official date that GDPR officially takes effect in the European Union. HFTP has done its best to address this new regulation across the board to ensure compliance in anticipation of the approaching deadline.
The matter of data security has always been important, but it has become extremely critical in recent years as online activity escalates and data breaches occur more often. New regulations are being created throughout the world to protect online users and their personal information. HFTP works hard to ensure that the hospitality industry remains informed of new regulations, so that they can establish compliance and protect their customers.
Recently, HFTP launched the GDPR Bytes website, an online aggregated news site bringing together publications, reports, feature articles, white papers and more to one place — all focused on GDPR.
GDPR Bytes also publishes a monthly newsletter; the first edition was distributed in April. Subscribe today to the GDPR Bytes newsletter to receive all of the latest news and updates related to GDPR by clicking on the mail icon.
Speaking of Data Security: A New Paper Just Published on this Topic
A new paper titled “Data Security: Hospitality — Strategy for data protection and regulation compliance” has just been published by HFTP. This guide covers safeguards that can be implemented in hospitality businesses today, tips on how to continuously improve security and data regulation compliance.
A Summary of Club Technology Research Findings Also Recently Published
In 2017, HFTP commissioned in-depth research on the state of club technology, exploring use, purchasing practices and how much value clubs derive from their current technology.
HFTP Working with CMAA to Update the USFRC
HFTP is partnering with Club Managers Association of America (CMAA) to revise the Uniform System of Financial Reporting for Clubs (USFRC), with a planned publishing date of late-Spring 2019. The most recent 7th edition was published in 2012, and the two organizations have recognized it is now time for an update.
Currently a revision council is reviewing the text to determine the necessary changes. If you would like to participate in the revision process, contact Eliza Selig, HFTP director of communications, at email@example.com.
A Survey is Out for the USALI: We Need Your Feedback
HFTP’s Hotel Advisory Council has developed a survey for feedback from lodging industry accounting and finance professionals on a potential 12th edition of the Uniform System of Accounts for the Lodging Industry (USALI).
Your feedback is very valuable and will assist in the development of future editions of the USALI.
Timothy Nauss, CHAE is the 2017–2018 president of the HFTP Global Board and currently serves as chief financial officer of Studio City Macau, an integrated casino resort located in Cotai, Macao.