Ready to partake in the forward momentum of the recovering hospitality industry, the Hospitality Financial and Technology Professionals (HFTP®) Global Board of Directors has outlined multiple initiatives it will undertake to support its professional members and stakeholders. The strategic steps are designed to draw from the collective experience of its leaders and network for concentrated programs and resources. This includes adding two club-focused events co-located with HITEC Dallas and Annual Convention this September, and ongoing development of club finance resources. In addition, HFTP continues to work with the Global Finance Committee on the revision of the Uniform System of Accounts for the Lodging Industry (USALI), with the 12th edition scheduled for release in early Spring 2022.
“The whole of the HFTP network has been adversely affected by the pandemic, there is no question about it. What the Global Board determined is that the association needs to assume a position of formidable support with instruments to help the industry recover quickly and better than ever,” said HFTP Global President, Mark Pate, Sr., CHAE, CHTP, MBA, controller and IT director for Highpointe Hotel Corp. “We outlined what we do best as an association, which is centering our combined expertise and laying out the knowledge via special events, virtual education, reference material and networking.”
Because of the unique year the association has experienced, it has been determined to postpone the annual election of new HFTP Global Directors and Executive Committee for one year, with the next election slated for May 2022. Remaining with the current group of leaders will allow for a seamless progression of the association as it recovers from a financially difficult year and works to build back its program offerings.
The current directors will be taking a strategic look inward with the formation of taskforces to guide the association on four primary areas of interest: HITEC, USALI, club industry and member reengagement. Participants are the Global Directors who will consider and recommend ways to carry forward in a way that is useful for its members and the hospitality industry as it evolves out of the pandemic and into the future. Already, much is underway for the coming months in 2021.
HFTP is gearing up for its main event this September 27-30 in Dallas, Texas where it will host the hospitality technology show HITEC Dallas and the HFTP Annual Convention in-person, co-located at the Kay Bailey Hutchison Convention Center. To add value to the week, on September 27, two club events will run. First is the brand-new Club Tech Day with club technology-focused education sessions and an introduction to vendors offering industry-specific technology solutions. Running that same afternoon is the Club Forum, a half-day interactive program exploring a hot topic of interest.
Conversely on the club finance side, HFTP has formed the Club Finance Committee. Chaired by HFTP Global Secretary Stephanie Anderson, CFO for River Bend Golf & Country Club, the group will work to develop financial references. This includes a companion dictionary for the Uniform System of Financial Reporting for Clubs (USFRC), which will define common terms used within a club property, spanning internationally.
A long-term project that is nearing completion is the revision of the USALI, a widely-used reference that includes operating statements formatted to provide hotel owners, managers and other interested parties with operational information pertinent to the lodging industry. Currently in its 11th edition, the Global Finance Committee has been working on the new, 12th edition for nearly two years, with a slated release in early Spring 2022.
In addition to the events mentioned, HFTP has numerous upcoming educational offerings. HFTP is bringing back its Club Summit on May 24-25 in Ft. Lauderdale, Fla. USA. Also, two HITEC branded events are upcoming. HITEC Dubai will be held with The Hotel Show Dubai on May 31 – June 2 at the Dubai World Trade Center. And HITEC Europe Sessions, a five-week series of virtual hangouts with language-specific breakout rooms for post presentation discussions. The series will run Wednesdays from May 26-June 23, 2021. Do not neglect the HFTP Virtual Education program with new, online sessions offered every week.
Look for more announcements from HFTP as it releases additional member and industry benefits.