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Finance
HFTP Launches Hospitality Industry Specific Search Site: Pineapplesearch.com
HFTP | October 26, 2015
Austin, Texas USA (October 26, 2015) — The hospitality industry has a new, valuable resource in the just launched Pineapplesearch.com. Produced by Hospitality Financial and Technology Professionals (HFTP), and powered by hsyndicate, the site is an aggregated content destination that focuses on news, articles and reports of primary interest to the hospitality industry, with priority placed on information-based results. The site is a super-charged resource, with numerous functionalities to help customize a hospitality-specific search. "There are multiple channels for locating information in our connected world, but it is actually a ...
HFTP Establishes Agnes DeFranco, Ed.D., CHAE Scholarship at the University of Houston
HFTP | October 26, 2015
October 26, 2015 (Austin, Texas USA) – In continuance of its fundamental mission to support hospitality-focused education, Hospitality Financial and Technology Professionals (HFTP) has announced the creation of the Agnes DeFranco, Ed.D., CHAE Scholarship. The scholarship, named in honor of DeFranco an HFTP Global Past President, resides at the Conrad N. Hilton College of Hotel and Restaurant Management at the University of Houston. To seed the scholarship, HFTP is donating US$25,000, which will be matched 100 percent by the Conrad N. Hilton Foundation. "The success of the hospitality industry is largely dependent on the talent of ...
HFTP to be the Founding Association Sponsor of UCF’s Center for Innovation in Hospitality Technology
HFTP | October 26, 2015
October 26, 2015 (Austin, Texas USA) – Hospitality Financial and Technology Professionals (HFTP) announced today that it will be the founding association sponsor of the Center For Innovation in Hospitality Technology (CIHT) at the University of Central Florida's Rosen College of Hospitality Management. Currently in development, the CIHT will be a hub of product demonstration and testing, research, professional training and innovative education to advance the hospitality industry. It will link classroom learning to real-life experience, and extend high quality education and training to students and professionals worldwide. In addit...
Pebblebrook Hotel Trust Reports 3rd Qtr. 2015 Net Income of $31.6M Compared to $23.7M in 2014
Pebblebrook Hotel Trust | October 23, 2015
BETHESDA, Md.-- Pebblebrook Hotel Trust (NYSE: PEB) (the "Company") today reported results for the third quarter ended September 30, 2015. The Company's results include the following: (1) See tables later in this press release for a description of same-property information and reconciliations from net income (loss) to non-GAAP financial measures, including Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"), Adjusted EBITDA, Funds from Operations ("FFO"), FFO per share, Adjusted FFO and Adjusted FFO per share. For the details as to which hotels are included in Same-Property Revenue Per Availabl...
HSMAI Foundation Releases Publication on the Evolution of Hotel Sales
HSMAI Foundation | October 22, 2015
Research Finds Expanded Skill Sets are Essential to Hotel Sales Professionals of the Future McLean, VA (October 22, 2015) – The Hospitality Sales and Marketing Association International (HSMAI) Foundation today released a new research publication entitled, "The Evolution of Sales: Perspectives and Realities Defining the Modern Sales Professional." The report explores the challenges facing hotel sales today, including the way organizations and individuals think about the sales process, sales management and the sales professionals, and highlights the need for the hospitality industry to change perspective. The report, authored by La...
Duetto Partners with ReviewPro Integrating its Global Review Index™ (GRI) Data
Duetto | October 15, 2015
Expanded Partnership Helps Hotels Optimize Revenues by Benchmarking Online Reputation Vs. Competitors New York, October 15, 2015 – Duetto, the market leader in hotel profit optimization technology, announced that it has fully integrated ReviewPro's Global Review IndexTM (GRI) data into its dashboard, helping Duetto's customers by benchmarking reputation performance against their competitive sets. The partnership adds GRI's advanced reputation analytics to Duetto's tools for helping hotels fully optimize revenue and manage distribution complexity in today's rapidly changing online marketplace. "We're pleased to deepen our partners...
Aptech to Provide Budget/Forecast Leadership Session
Aptech Computer Systems, Inc. | October 14, 2015
Prophix Taps Aptech to Present Hospitality Industry Budgeting and Forecasting Session Pittsburgh, PA – October 14, 2015 – Aptech Computer Systems announce that on October 15 it will provide a thought leadership session on Hospitality Budgeting and Forecasting for international Corporate Performance Management (CPM) leader Prophix. Aptech is the leading provider of hospitality software for business intelligence, budgeting/forecasting, and enterprise financial accounting. Prophix serves more than 2600 companies in 92 countries with its CPM software that automates important financial and operational processes that reduce risks ...
Be a Part of the Future of Hotel Marketing & Revenue Management with RevPAR Hacking
Flip.to | October 8, 2015
Hot off the press from Flip.to and industry leaders, RevPAR Hacking is the ultimate guide to the impact of revenue culture. Not only will readers get insight from leading experts in their field, but they'll also learn the tips and tools to put them at the forefront of hotel marketing and revenue management. So what does it mean for a hotel to have a revenue culture? By aligning collective goals, teams work together as they aspire to generate the most revenue—and the entire organization will reap the rewards. In fact, so will the guests, as there will be more resources available to serve their needs. A revenue culture spans everyo...
Ralph R. Miller, CPA, CA, CBV, CHA, CHAE to Receive the 2015 Paragon Award Recipient
HFTP | October 6, 2015
Hospitality Financial and Technology Professionals will honor Miller at the 2015 Annual Convention & Tradeshow AUSTIN, TEXAS, USA (October 6, 2015) — Ralph R. Miller, CPA, CA, CBV, CHA, CHAE was selected as the 2015 Hospitality Financial and Technology Professionals (HFTP) Paragon Award recipient for his unwavering support of HFTP and the continuing actions to increase knowledge sharing and growth of the hospitality industry. Based in Calgary, Alb., Canada, Miller is president of Inntegrated Hospitality Management Ltd. Miller will be presented with the prestigious Paragon Award, established to recognize individuals who have ma...
EB-5 Regional Center Program is Extended, Senate Bill Proposes Making Program Permanent
Jim Butler | October 5, 2015
By Jim Butler and the Global Hospitality Group® 05 October 2015 We are pleased that the Continuing Resolution passed by Congress includes a temporary extension of the EB-5 Regional Center Program. This extension allows the program to continue generating foreign direct investment and creating U.S. jobs through December 11, 2015. In addition to extending the current program to December 11, this will also provide additional time for Congress to consider a long-term reauthorization bill that would include reform measures to strengthen federal oversight and the integrity of the program. Members of Congress from both parties and both the ...
European Hotel Transactions up 58% Year-on-Year, Says HVS
HVS | September 30, 2015
30 September 2015, London: Transactions in the European hotel sector have seen a big increase with volume reaching €12bn in the year to date, according to Charles Human, HVS managing director, speaking yesterday [29 September 2015] at the Hotel Investment Conference Europe at London's Jumeirah Carlton Tower. Introducing a session on private equity, Human painted a positive outlook of today's hotel investment sector, outlining the fact there had been a 58% year-on-year volume increase. The UK, he said, had seen the biggest number of deals, with €6.8bn-worth, representing 55% of total European volume. Some €5.2bn had been p...
Duetto to Provide Revenue Strategy Solutions for Trump Hotel Collection
Duetto | September 28, 2015
New York, September 28, 2015 – Duetto, the market leader in hotel profit optimization technology, announced today that it will implement its revenue strategy solutions for Trump Hotel Collection, bringing new insights on pricing and demand to the luxury hotel collection, known for its unmatched standard of excellence, personalized service and prime locations worldwide. Duetto will launch its services in nine sought-after destinations, encompassing more than 3,000 rooms worldwide. The rollout will begin with the 391-room Trump SoHo New York, followed by a rollout at Trump properties in Chicago, Honolulu, Las Vegas, Miami, Panama, C...
Hot Topics for Restaurants: EB-5 and Crowdfunding Investment, Licensing, and Gift Card Programs
Jim Butler | September 23, 2015
By Jim Butler and the Global Hospitality Group® Author of www.HotelLawBlog.com September 2015 The Global Hospitality Group® is best known for its expertise in connection with hotels and resorts. We also have an active restaurant practice, and like a hotel, a restaurant is an operating business integrally intertwined with special purpose real estate. We frequently advise restaurant owners and operators on labor and employment, ADA, management, and finance and licensing issues, and we have a particular expertise relating to celebrity chef deals. Senior Global Hospitality Group® member David Sudeck recently participated in a ro...
HFTP Adds to Very Successful Social Responsibility Program, HITEC Helps, with HFTP Helps
HFTP | September 17, 2015
HFTP Helps will feature a Silent Auction to benefit the disaster relief fund of the Northwest Region American Red Cross AUSTIN, TEXAS, USA (September 17, 2015) — Global hospitality association Hospitality Financial and Technology Professionals (HFTP®) is adding to its hugely successful community giving efforts with HFTP Helps. The first portion of the program, HITEC Helps, first held this year in Austin, Texas to support the United Way for Greater Austin during the Hospitality Industry Technology Exposition & Conference (HITEC) raised over $15,000 USD in support of the Austin-areas' Memorial Day flood victims. Riding off of the e...
Aptech Selected by Coastal Hotels, Margaritaville Hollywood Beach Resort
Coastal Hotels | September 15, 2015
Coastal Hotel Group Taps Aptech for Business Intelligence and Targetvue Budgeting/Forecasting; Margaritaville Hollywood Beach Resort Selects Profitvue® Back Office Pittsburgh, PA – September 15, 2015 – Aptech Computer Systems announced Coastal Hotels with 4 properties in the western US selected Execuvue® Enterprise Business Intelligence and Targetvue Budgeting and Forecasting. Margaritaville Beach Resort will also install Aptech's Profitvue Enterprise Financial Accounting for its 349-room destination property in Hollywood, FL. Aptech is the leading provider of hospitality software for business intelligence, budgeting, and enterpri...
HFTP to Honor David Meyer as the 2015 Certified Hospitality Accountant Executive (CHAE) of the Year
HFTP | September 14, 2015
AUSTIN, TEXAS, USA (September 14, 2015) - Hospitality Financial and Technology Professionals (HFTP®) will honor David Meyer, CHAE as the 2015 Certified Hospitality Accountant Executive (CHAE) of the Year at the 2015 HFTP Annual Convention and Tradeshow. The CHAE of the Year honors the individual that scored the highest on the CHAE certification exam in a given year and this year HFTP will induct the 32nd honoree. The Annual Convention and Tradeshow will be held October 21-24 at the Hyatt Regency in Bellevue, Wash. USA. Meyer became fascinated with the hospitality business during college when he wrote a paper about hotel management. Tha...
Leading Hotels to Offer Duetto’s Revenue Strategy Solutions to More than 400 Properties Worldwide
Duetto | September 10, 2015
San Francisco, September 10, 2015 -- Duetto, the market leader in hotel profit optimization technology, announced an alliance with The Leading Hotels of the World, Ltd., to make its Revenue Strategy Solutions available to more than 400 hotels worldwide. Leading Hotels is one of the largest luxury hotel collections, with some of the world's most exceptional properties in more than 80 countries. Jon Londeen, Senior Vice President, Distribution and Reservations Management at The Leading Hotels of the World said, "With solutions that address the unique challenges of independent luxury hotels, Duetto delivers powerful insights on pricing and...
The Hotel Guide to Budgeting Business Intelligence Tools in 2016
nSight | September 8, 2015
nSight's New eBook Provides Goal-Based Tips for 2016 Budgets NASHVILLE, TN - September 8, 2015 -nSight, the leader in online consumer shopping intelligence for hotels and destinations, today released its eBook on how hotels should plan and budget for business intelligence tools for the upcoming year in an always-changing consumer environment. The simple tips in this eBook help hoteliers be positioned better to increase bookings in 2016 by understanding and targeting consumers more proactively and more effectively than the competition. Hotel distribution is more complex today with a growing number of intermediaries between the hotel prod...
Hong Kong’s The Upper House Implements Duetto’s Revenue Strategy Solutions
Duetto | September 8, 2015
Duetto brings new levels of insight and revenue optimization to one of Hong Kong's most luxurious properties Hong Kong, September 8, 2015 – Duetto, the market leader in hotel profit optimization technology, announced that The Upper House is implementing its revenue strategy solutions, bringing new insights on pricing and demand to the landmark property. The Upper House is managed by Swire Hotels, an international management company with properties in Asia, Europe and North America. Designed by architect Andre Fu, The Upper House is a distinctive modern luxury property that sits atop Hong Kong's bustling urban landscape. Duetto pro...
How the Sharing Economy is (Mis)shaping the Future
Alan E. Young | September 2, 2015
Is this disruptive new trend really good for the economy and consumers? By Alan E. Young Chances are, you've used some sort of "sharing" service or technology recently. Maybe you've taken an Uber ride home from the airport, or rented out a loft from Airbnb for a weekend trip. Many people are saying that the sharing economy is the way of the future. It may indeed be disruptive, but is this trend really good for the economy and consumers? Whether you call it the Sharing Economy, the Collaborative Economy, the Gig Economy or C2C (Consumer to Consumer), it's certainly innovative and by all indicators, on the rise. More and more startups and...
What Every Hotel Owner (& Operator) Needs to Know About “Data Security” After Wyndham Worldwide Case
Bob Braun | September 2, 2015
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com Massive data breaches affect hotels and their legal responsibilities. As unauthorized hacking of confidential data explodes in volume and seriousness, minimum expected standards are evolving that hoteliers and others must follow. Interestingly, the latest guidelines are provided in an August 24, 2015 appellate court decision involving Wyndham Worldwide as if to emphasize that these rules (really) apply to the hotel industry. How did this case arise? What are some basic steps that everyone with confidential data is expected to take? What h...
Hotel AG Announces Recent Closings
Hotel AG | September 1, 2015
ATLANTA – September 1, 2015 – Hotel AG announced today the firm's recent sales transactions. Hotel AG has been involved in 225 hotel sale transactions since January 2013 totaling $2.3 billion in market value. Over that period, the firm has averaged closing 1 hotel transaction every 4 days. Recently, the firm closed a large portfolio transaction in the Midwest, a pure Marriott portfolio in Florida along with a double handful of single asset transactions across the country. All of these transactions were sold on behalf of institutional clients. Currently, the firm has 196 hotels on the market of which $402 million of market value is p...
The Internet of Things: The Impact on the Travel and Hotel Industry
Alan E. Young | August 26, 2015
Converging Technologies for Smart Environments By Alan E. Young The Internet of Things (IoT) is a relatively large topic that is widely circulating around these days, but I think it is very important to point out its practical implementations. According to HOSPA in 2013 there was one device connected to the internet per person on earth. They forecast that by 2020, this number will increase to 9 devices per person. Currently, 80 'things' connect to the internet every second but we will see this figure rise to more than 250 'things' connected to the internet every second in just the next few years. This trend will have a huge impact on th...
HFTP, Global Hospitality Association, Announces Release of New Valuable Industry Resource
HFTP | August 26, 2015
AUSTIN, TEXAS (August, 26, 2015) — Today, Hospitality Financial and Technology Professionals (HFTP), a global association created to further the knowledge and advancement of industry professionals, announced an exciting new service to its members and the industry at large — a fully searchable directory of consultants specializing in accounting, finance, technology, human resources and legal issues. "HFTP is asked for lists of members with competencies in special areas that are available for consulting engagements on almost a daily basis", said HFTP CEO Frank Wolfe, CAE. "While we do not endorse any consultants or companies, we do tr...