usali
USALI 12th Revised Edition, Deep Dive: Energy, Water, and Waste
USALI | July 23, 2024
Across the globe, businesses have begun to address the issues related to establishing and monitoring standards for enhanced reporting of environmental costs and liabilities. As with other industries, the lodging industry is increasingly required by various stakeholders, including meeting planners, corporate and leisure customers, investors, and municipalities, to quantify the environmental impact of a guest’s stay and the overall environmental impact of the hotel. The American Hotel and Lodging Association (AHLA) had the foresight to establish the AHLA Sustainability Committee several years ago. In updating the Uniform System of Accounts...
USALI Global Finance Committee Members Provide Hotel Reporting Guidance Following New California Bill Banning Hidden Fees
HFTP | July 19, 2024
Written by HFTP Publications — Contributor “Whether buying tickets to a concert or sporting event or booking a vacation or a hotel, Californians deserve to know exactly how much they’re being asked to pay, and not be surprised later by hidden junk fees,” said California Senator Nancy Skinner (D-Berkeley) in regard to a proposed bill she coauthored called Senate Bill 478 (SB 478), which has since been enacted and just took effect in the state earlier this month. Designed to protect consumers from hidden fees, businesses and sellers must, as of July 1, 2024, list the price of any good or service to include all mandatory charges ...
HFTP, AHLA and GFC Unveil Groundbreaking 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI™)
AHLA | July 11, 2024
The USALI is the worldwide, authoritative standard for lodging financial and operating reporting. The adoption date for this newest edition is January 1, 2026. AUSTIN, TEXAS (July 11, 2024) – A newly-revised edition of the Uniform System of Accounts for the Lodging Industry (USALI™) is now available, published by Hospitality Financial and Technology Professionals (HFTP®). The publication is available for purchase and download here. The revision process for the 12th Revised Edition has been overseen by the Global Finance Committee (GFC), jointly sponsored by the American Hotel & Lodging Association (AHLA) and HFTP. The G...
Hotel Financials: Key Changes in USALI 12th Edition
HotStats | May 22, 2024
USALI 12th Edition: Significant Revisions Overview The 12th revised edition of the Uniform System of Accounts for the Lodging Industry (USALI) fundamentally enhances the transparency of financial and operational aspects in the hospitality industry. To quote Sir Arthur Conan Doyle's iconic character Sherlock Holmes, “It is a capital mistake to theorize before one has data.” Embodying this wisdom, the updates in USALI provide a robust framework for data-driven decision-making and increased transparency, aligning closely with evolving business needs. These are thoughtful changes, designed to align with the shifting demands of the hospital...
USALI 12th Revised Edition, Deep Dive: Highlights of Major Changes, Increased Transparency
HFTP | May 20, 2024
In the very near future, the lodging industry will have a brand-new edition of the Uniform System of Accounts for the Lodging Industry (USALI) — the 12th Revised Edition. This latest release has been meticulously updated with guiding principles to enhance transparency in reporting, broaden data sets to better inform decision-making, and align with contemporary practices. The revisions were written by the Global Finance Committee (GFC), a joint forum sponsored by Hospitality Finance and Technology Professionals (HFTP®) and the American Hotel and Lodging Association (AHLA). Members of the GFC consist of representatives from ownershi...
Hospitality Financial Leadership: Putting a Dollar Value on a Hotel
DAVID LUND | May 20, 2024
By David Lund Determining the current selling or asking price for a hotel is a bit tricky. Compared to estimating the present value of a house it’s more like a detailed math exercise rather than a google search on Redfin. That’s what this piece is all about, how you can estimate the value, AKA sales price. Commercial real estate firms specializing in hotel valuations are what your bank is going to require that you use if you’re asking them for financing to buy a hotel. That makes sense because the bank will want to protect their interest. If you own a hotel and want to sell it you can go that route as well but it’s not like two ...
Operational Benchmarking in Practice
Arlene Ramirez | March 4, 2024
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The Role of USALI and Operational Benchmarking in Financial Management
Arlene Ramirez | February 13, 2024
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