Completion Stage Underway for the 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI)
AHLA | February 28, 2023
The revision to the lodging industry’s authoritative financial and operating reporting standards has been led by the Global Finance Committee, sponsored by HFTP and AHLA. The Global Finance Committee (GFC), jointly sponsored by Hospitality Financial and Technology Professionals (HFTP®) and the American Hotel & Lodging Association (AHLA), have restarted its work on the 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI). The independent group of global financial leaders from the most prominent U.S. and international hotel brands, operators, owners and other industry authorities met January 3...
HFTP and AHLA Announce 10-Year USALI Agreement
AHLA | December 22, 2022
HFTP/AHLA Committee Will Jointly Produce Hospitality Accounting Standard Washington/Austin, Texas (Dec. 22, 2022) — The American Hotel & Lodging Association (AHLA) and the Hospitality Financial and Technology Professionals Association (HFTP) announced today a 10-year agreement to jointly produce the Uniform System of Accounts for the Lodging Industry (USALI). The USALI is used all over the world as the “standard” for hospitality accounting, and today’s announcement reverses HFTP’s decision earlier this year to publish the next USALI edition without AHLA’s formal involvement. AHLA and HFTP have reengaged the joint Global F...
HFTP Moves Forward to Publish the USALI, 12th Revised Edition, Ends Relationship with AHLA
HFTP | August 1, 2022
August 1, 2022 (Austin Texas) — Hospitality Financial and Technology Professionals (HFTP®) has been associated with the Uniform System of Accounts for the Lodging Industry (USALI) since the association was established in 1952. In recent editions, HFTP has provided expertise support and funding for its publication without reimbursement. Widely used across the globe as the standard for hospitality financial and operational reporting, the successive revisions to the USALI have consistently been a collaborative process between representative industry organizations, ensuring the information presented best represents current reporting stand...
Hospitality Financial Leadership: The 6 Quadrants of GOPPAR
David Lund | March 7, 2022
By David Lund GO PAR is the new and exciting measurement everyone is talking about in the hotel business. But let’s be honest. It is a bit of a stretch to comprehend. It is a little more complicated than REVPAR. Why you ask? Well, REVPAR has two components: occupancy and rate. That is all you need to square the calculation. GO PAR has six components and I am going to lay them all out here. A big part of the struggle people have is the idea that GO PAR is an accounting thing. It is true that the calculation is based on accounting theory but stick with me here, it is a straightforward concept. GO PAR like REVPAR is easy to square. Yo...
HFTP and GFC Release First Exposure Draft for the USALI 12th Revised Edition — A New Energy, Water, and Waste Section
the USALI | November 30, 2021
Hospitality Financial and Technology Professionals (HFTP®) and the Global Finance Committee (GFC) are preparing for the Fall 2022 release of the 12th Revised edition of the Uniform System of Accounts for the Lodging Industry (USALI). Prior to publishing the newest edition, HFTP and the GFC have recruited a group of leading industry stakeholders to participate in the review of exposure drafts, requesting comments for consideration ahead of the 12th edition publication. The first exposure draft is for a new section titled: “Energy, Water, and Waste.” “This is the first of many steps as environmental, social and governa...
HFTP and GFC Get Ready for the USALI 12th Revised Edition; Plan to Release Exposure Drafts for Review by Industry Stakeholders
HFTP | November 17, 2021
Hospitality Financial and Technology Professionals (HFTP®) and the Global Finance Committee (GFC) are preparing for the Fall 2022 release of the 12th Revised edition of the Uniform System of Accounts for the Lodging Industry (USALI). The revision to the current 11th Edition (released in 2014) has gone through a well-considered, in-depth process. Ahead of publishing the newest edition, the HFTP and the GFC has invited leading industry stakeholders to participate in the review of exposure drafts, requesting comments for consideration ahead of the 12th edition publication. “The exposure draft process allows HFTP and the GFC...
Hospitality Financial Leadership: What’s Possible in the Future With Hotel Financial Statements
David Lund | January 18, 2021
By David Lund I am a big fan of the Uniformed System of Accounts for the Lodging Industry (USALI), or as she is affectionately called “You Sally.” It has been the guide that our industry uses to properly present financial information for a long…long time, in fact almost 100 years. It lays out the format for our financial statement presentation and essentially acts as a referee if you like, to tell us what goes where. What revenues, costs of goods, expenses, and payroll belong to which department. Having a guidebook in its 11th edition that details where it goes and what it looks like are a gift. I know many industries struggle w...
Improving the Hotel Bottom-Line Begins With Knowing How to Read a P&L
HotStats | December 7, 2020
By Aggie Wojciechowska "Here's the bottom line..." It's a familiar turn of phrase that is succeeded by the speaker getting to the sum or crux of the issue—the overarching point. In running a hotel, getting to the bottom line means getting to what matters: profit. In order to arrive at that point, there are many inputs, both revenue and expense related, which mingle together to produce an outcome. The telling of that dance is recorded in the profit and loss statement (P&L), a signpost that records the story, of which the bottom line is the finale. How to read the story is the first step toward financial success. The P&L (al...
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