Hotel Online
News for the Hospitality Executive



HFTP Begins Development of a Global Hospitality
Accounting System Users Guide



AUSTIN, TEXAS, USA (February 22, 2012) – To create a global resource for the hospitality finance industry, Hospitality Financial and Technology Professionals (HFTP®) has begun development on a global hospitality accounting system users guide.

“Currently, there is not a global resource like this," said Frank Wolfe, CAE, HFTP’s CEO. "We are the only global association dedicated to hospitality finance and technology and our Global Board is investing heavily to create a benchmark that stakeholders can use to compile accounts, compare regional differences and define the value of a hospitality operation. Our plan is to document how the industry is actually performing the process, as opposed to mandating a process.”

The global guide will provide the industry with a comprehensive glossary of inventory terminology, charts of accounts and will benchmark common allocation for specific regions of the world. The project is planned as a three step process:
  1. Final year bachelor students at Ecole Hôtelière De Lausanne (EHL) in Switzerland working on their Student Business Project are gathering data, surveying hotel operations and assembling terms of reference.
  2. Once the data is assembled, it will be distributed to regional teams of industry professionals that are chaired by industry consultants. These teams will develop sample charts of accounts and common allocations for their specific areas. 
  3. The team chairs will finalize the project by authoring a discussion on similarities or differences of allocations. The initial guide will be published in English, with plans to distribute globally in multiple languages.  
HFTP is working with members of several organizations including, EHL, HFTP's Research Institute at the University of Houston, Hong Kong Polytechnic University and Hospitality Professionals Association (HOSPA). HFTP is also collecting information from several volunteers from around the world who want to participate. Interested companies and/or financial professionals who are interested in participating or helping to sponsor the project may contact HFTP at GHASUG@hftp.org.

About HFTP
HFTP, Austin, Texas, USA and Maastricht, The Netherlands, founded 1952, is the global professional association for financial and technology personnel working in hotels, clubs and hospitality-related businesses. HFTP provides educational opportunities, research, and publications to members around the globe including, the premiere hospitality technology conference HITEC — founded in 1972. HFTP also awards the only hospitality specific certifications for accounting and technology — the Certified Hospitality Accountant Executive (CHAE) and the Certified Hospitality Technology Professional (CHTP) designations. HFTP was founded in the USA as the National Association of Hotel Accountants.

.
Contact: 

Katy Walterscheidt
Public Relations & Social Media Manager
Hospitality Financial and Technology Professionals (HFTP)
  11709 Boulder Lane, Ste. 110 | Austin, TX USA 78726-1832
Ph: +1 (512) 249-5333 | (800) 646-4387 (US) x27
Fx: +1 (512) 249-1533
www.hftp.org| www.hitec.org | www.ehtec.eu | www.guestroom20x.org  


.
Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here  

 To Learn More About Your News Being Published on Hotel-Online Inquire Here
 
Also See: Caesars Entertainment's Gary Loveman to Open HITEC 2012 / February 2012

Innovative Hotel Technologies Sought for Newest Version of GUESTROOM 20X; Submission Deadline for Technologies is March 1, 2012 / February 2012

Frank Wolfe, CAE, to Continue as HFTP CEO Through May 2015 / November 2011

HFTP and AH&LA Partner on a New Technology and E-business Webinar Series / October 2011

HFTP to Celebrate 60th Anniversary at 2012 Annual Convention & Tradeshow in Orlando, Florida / October 2011

HFTP 2011 Annual Convention & Tradeshow to Update Attendees on Latest Changes in the Hospitality Industry / September 2011

HFTP Greater New Orleans Chapter to Host an Educational Seminar; September 23, 2011 at the New Orleans Convention Center / September 2011

HFTP to Honor Ed Kingsmore as the 2011 CHAE (Certified Hospitality Accountant Executive) of the Year at the Upcoming Annual Convention & Tradeshow / August 2011

HFTP Launches Online Practice Exam for the Certified Hospitality Accountant Executive (CHAE) / July 2011

HFTP Joins PCI Security Standards Council as Newest Participating Organization; HFTP to participate in key standards-setting body protecting payment cardholder data / June 2011

HFTP’s Inaugural Asian Hospitality Technology Education Conference, AHTEC@HOFEX, Exceeds Expectations; Planning Begins on AHTEC 2.0 / June 2011

HITEC 2011 App for iPhone and Android Available for Free Download / June 2011

HITEC 2011 To Feature Two Valuable Sessions on PCI Compliance on Monday, June 20 / June 2011

Pirate Exhibitor Prevention Maintains HITEC 2011's High-Value / May 2011

Frank Wolfe, CAE to be Inducted into International Hospitality Technology Hall of Fame / May 2011

Brian L. Hightower, Certified Hospitality Technology Professional, to be Honored as 2011 CHTP of the Year During the Upcoming Hospitality Industry Technology Exposition and Conference (HITEC®) / May 2011

HFTP's 2011 Club and Hotel Controllers Conference Discusses the Latest Financial Trends and More / March 2011

HFTP Selects Baltimore, Maryland as Host for HITEC 2012 / January 2011

HITEC 2011 to Use New Method to Improve Exhibit Hall Experience; Vendors Encouraged to Book Exhibit Hall Space Before Rate Goes Up February 1 / January 2011

HFTP Development Conference Focuses on Development of New Skill Sets / January 2011

Hospitality Leaders Plan 2011 HFTP Conference Education / January 2011

HITEC 2011 Online Registration and Housing Bureau Open / December 2010

Atlanta, Georgia to Host 2011 HFTP Annual Convention & Tradeshow / September 2010

Full Spectrum of Complex Work Environment Discussed at HFTP 2010 Annual Convention & Tradeshow; Oct 11 – 14 in San Diego / August 2010

Covering the Full Spectrum of a Complex Work Environment, HFTP Sets the Education Schedule for 2010 Annual Convention & Tradeshow Oct 11 – 14 in San Diego / May 2010

Recap of 2009 HFTP Annual Convention & Tradeshow / September 2009

Frank I. Wolfe Accepts HFTP's Offer to Remain as CEO through 2012, a Job He Has Held Since 1994 / December 2008

Frank I. Wolfe to Remain HFTP's Executive Vice President/CEO through March 2009 / March 2006
.

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.