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HFTP Administers Updated CHAE Exam for Hospitality Professionals

21 April 2017
Hospitality Financial and Technology Professionals (HFTP(r)) recently launched the newly updated Certified Hospitality Accountant Executive (CHAE(r)) certification exam. The new CHAE exam is now available for applicants, and was designed to give applicants the ability to utilize their financial knowledge and skills acquired. The CHAE Application is available for download on the HFTP website, and the policy and procedures includes detailed information on the application process and the requirements necessary to sit for the exam. The CHAE is a hospitality-specific designation which shows both a dedication to hospitality and accounting.The new CHAE exam now has four sections instead of five as was in the previous exam. The new exam features a more global finance focus, and is based on experiential learning from financial knowledge and skills acquired. Exam questions focus on financial accounting, managerial accounting, ethics, fraud, internal controls and general questions. Updated features also include an ethics and CHAE policies and procedures section. As an added benefit to those interested in hospitality certification, HFTP will conduct a CHAE webinar review series in May 2017. Also, exam review topics can be found on PineappleSearch.com, and revamped review slides can be found here on the HFTP website."HFTP certification indicates an individual's commitment to professionalism, continuing education and their chosen career path," said HFTP CEO Frank Wolfe, CAE. "Certification can help hospitality professionals elevate their knowledge and skill as well as demonstrate superior industry performance."HFTP currently offers two hospitality-specific certifications: the Certified Hospitality Accountant Executive (CHAE(r)) and the Certified Hospitality Technology Professional (CHTP(r)). HFTP's certification programs are globally recognized for setting industry standards for hospitality finance and technology. Active certificants have reported higher salaries in the 2016 HFTP Compensation & Benefits Survey conducted by the HFTP Americas Research Center. HFTP offers the only designations for finance and technology professionals who are working in the hospitality industry. Qualification for the exams is based on level of education and experience in the industry; student programs are also available.To learn more about the updated CHAE exam click here. For more information on HFTP's certification programs, contact HFTP Certification Manager Robin Bogdon at certification@hftp.org. For the latest news, visit www.hftp.org and www.hftp.org/hitec/ and stay tuned to HFTP Connect, HFTP News, Facebook, LinkedIn, Twitter (@HFTP) and Instagram (@HFTP_HITEC).About HFTP Hospitality Financial and Technology Professionals (HFTP) is a global nonprofit hospitality association, headquartered in Austin, Texas, USA, that uniquely understands the industry's problems. HFTP has members and stakeholders across the globe. HFTP assists its members in finding solutions to industry problems more efficiently than any organization via its expert networks, research, conferences such as HITEC and certification programs. HFTP also owns the world's only hospitality specific search engine, PineappleSearch.com. HFTP is recognized as the spokes group for the finance and technology segment of the hospitality industry. For more information about HFTP, email membership@hftp.org or download the HFTP/HITEC media kit via the HFTP website.

HFTP's Entrepreneur 20X Returns at HITEC Toronto with More Opportunities to Participate

19 April 2017
Hospitality Financial and Technology Professionals (HFTP(r)), producer of the Hospitality Industry Technology Exposition and Conference (HITEC(r)), will host its second Entrepreneur 20X (E20X) of 2017 on Monday, June 26 from 1:00 to 4:00 p.m. at HITEC Toronto, the world's largest hospitality technology event. HFTP is currently accepting applications for participants, judges and mentors for E20X Toronto. Startups interested in competing in the hospitality technology innovation competition, and industry professionals who would like to serve as a judge or mentor, must apply by April 24 on the event website. Returning pitching applicants are welcome to come back and participate as long as they are considered Series A or a startup. All chosen startups, judges and mentors will be contacted by May 1, 2017.All registered HITEC attendees and exhibitors are welcome to view the innovative start-ups present cutting-edge ideas in a four-minute pitch to a panel of expert judges and HITEC Toronto attendees. The judge's panel will determine the grand prize, or E20X Judge's Award, winner who they deem "most innovative" that will take home $5,000 USD. HITEC Toronto attendees are encouraged to attend the competition, visit the startups at the E20X Pavilion on the exhibit hall floor as well as watch them present on Tuesday and Wednesday in the Digital Den. Attendees will determine the crowd favorite, or E20X People's Startup Award, winner by voting for their favorite startup through the HITEC 2017 app - available for download via the Apple Store or Google Play.Seasoned hospitality technology veterans will serve as mentors to inspire and educate our startups by lending them insights, expertise and guidance. Two E20X mentor opportunities are available to industry professionals who would like to volunteer: pre-show mentors and day-of competition mentors. Pre-show mentors will entertain a series of brief one-on-one calls with chosen pitchers leading up to the competition, providing coaching and pitch deck feedback. Day-of mentors will meet face-to-face with participants in a series of pre-booked meetups hours before the E20X Toronto competition takes place sharing their experience, getting their brain picked and making invaluable connections."E20X at HITEC Toronto is expected to be the largest competition to date," said HFTP CEO Frank Wolfe, CAE. "E20X is powerful way for hospitality technology startups to generate global exposure within our industry and further develop their products and services. The one-of-a-kind experience will provide participants with extensive knowledge and advice from judges and mentors as well as guarantee them a spot on the HITEC Toronto exhibit hall floor. New this year, participants will also be granted additional speaking opportunities at the world's largest hospitality technology event in days following the competition."E20X Toronto participants will receive further exposure among conference attendees with added speaking opportunities. On Tuesday and Wednesday following the E20X competition, all startups will be invited to provide a 10-minute presentation at the Digital Den stage at HITEC Toronto. HFTP will coordinate time slots with startups, and publish the schedule for attendees when available. Another added benefit, a barista service will be featured on Thursday at the E20X Pavilion on the HITEC Toronto exhibit hall floor.This year's larger North American event HITEC Toronto, HFTP's second HITEC of 2017, will take place from June 26-29 at the Metro Toronto Convention Centre in Toronto, Ontario Canada. HITEC Dubai, the third and final HITEC of 2017, will take place from November 14-15 at the Conrad Dubai in Dubai, UAE in partnership with Naseba. In 2018, HFTP will bring back HITEC Amsterdam on April 11-14 in addition to HITEC Houston on June 26-29.For more information about HITEC and HFTP's other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec/. Stay updated with HFTP and HITEC on social media for conference updates: HFTP Connect; HITEC Bytes; HFTP Club Bytes; HFTP Finance Bytes; HFTP News; Facebook, LinkedIn, Twitter; Instagram; YouTube; Flickr.About HITEC HITEC is the world's largest and oldest hospitality technology exposition and conference brand. HITEC offers a unique combination of top-notch education, and brings together the brightest minds and hottest technologies from across the globe to one place. The unparalleled event offers attendees essential education, access to top hospitality technology industry experts and the resources to find cost-effective ways to improve company bottom lines. Combined with the intimate opportunities to connect with fellow professionals, HITEC has everything to enhance your career.Historically hosted annually in a different city throughout the United States, HFTP decided to break tradition in 2017 by hosting three HITEC events all taking place outside of U.S. borders- in Toronto, Amsterdam and Dubai. This will be the first time the global association's largest HITEC event - featuring thousands of hospitality professionals from around the world - will take place outside of the U.S. In 2017, HFTP is producing its larger HITEC Toronto as well as two additional, inaugural HITEC events: HITEC Amsterdam and HITEC Dubai. For more information about HITEC and HFTP's other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec. Download the HFTP/HITEC media kit via the HFTP website.About HFTP Hospitality Financial and Technology Professionals (HFTP) is a global nonprofit hospitality association, headquartered in Austin, Texas, USA, that uniquely understands the industry's problems. HFTP has members and stakeholders across the globe. HFTP assists its members in finding solutions to industry problems more efficiently than any organization via its expert networks, research, conferences such as HITEC and certification programs. HFTP also owns the world's only hospitality specific search engine, PineappleSearch.com. HFTP is recognized as the spokes group for the finance and technology segment of the hospitality industry. For more information about HFTP, email membership@hftp.org or download the HFTP/HITEC media kit via the HFTP website.

HFTP Announces 2017 CHTP of the Year Recipient

19 April 2017
Hospitality Financial and Technology Professionals (HFTP(r)), will honor Clint DeMill, CHTP as the 2017 Certified Hospitality Technology Professional (CHTP(r)) of the Year at HITEC Toronto this June. The CHTP of the Year award honors the individual that scored the highest on the CHTP certification exam within a given year. HITEC Toronto, HFTP's second and largest HITEC of 2017, will take place from June 26-29 at the Metro Toronto Convention Centre in Toronto, Ontario Canada.DeMill began his hospitality career at a mountain resort in Utah USA in 1996. He later moved to The University Guest House at the University of Utah, which was preparing to host the 2002 Olympic Winter Games. He has worked in hospitality accounting while earning a degree in Parks, Recreation and Tourism at the University of Utah. DeMill contributes to many areas of the hotel, conferences and events, and also received his Certified Meeting Professional (CMP) designation in 2016. He is currently working as associate director of administration at The University of Utah Guest House and Conference Center."I first learned of HFTP at its HITEC 2012," said DeMill. "I was fortunate to join many others who specialized in both finance and information technology. I am honored to be selected as the 2017 CHTP of the Year by an esteemed association such as HFTP."Developed jointly by HFTP and the Educational Institute (EI) of the American Hotel and Lodging Association (AH&LA), the CHTP designation is the ultimate achievement in hospitality information technology by showing a dedication to both the hospitality and technology industries. The CHTP exam was first given in 1994 at HITEC in Dallas, Texas USA. Since then, more than 400 professionals have earned the CHTP designation around the world. HFTP also administers the examination and awards the Certified Hospitality Accountant Executive (CHAE(r)) industry designation.HFTP's certification programs are globally recognized for setting industry standards for hospitality finance and technology. Qualification for the exams is based on level of education and experience in the industry; student programs are also available. Active certificants have reported higher salaries and various career advancement opportunities. Becoming certified indicates and individual's commitment to professionalism, continuing education and their chosen career path.For more information on HFTP's certification programs, contact HFTP Certification Manager Robin Bogdon at certification@hftp.org. For more information about HITEC and HFTP's other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec/. Download the all-inclusive HITEC 2017 multi-event app from the Apple Store or Google Play - information coming available as each event nears. For the latest news, stay tuned to HFTP Connect, HFTP News, Facebook, LinkedIn, Twitter (@HFTP) and Instagram (@HFTP_HITEC). About HITEC HITEC is the world's largest and oldest hospitality technology exposition and conference brand. HITEC offers a unique combination of top-notch education, and brings together the brightest minds and hottest technologies from across the globe to one place. The unparalleled event offers attendees essential education, access to top hospitality technology industry experts and the resources to find cost-effective ways to improve company bottom lines. Combined with the intimate opportunities to connect with fellow professionals, HITEC has everything to enhance your career.Historically hosted annually in a different city throughout the United States, HFTP decided to break tradition in 2017 by hosting three HITEC events all taking place outside of U.S. borders- in Toronto, Amsterdam and Dubai. This will be the first time the global association's largest HITEC event - featuring thousands of hospitality professionals from around the world - will take place outside of the U.S. In 2017, HFTP is producing its larger HITEC Toronto as well as two additional, inaugural HITEC events: HITEC Amsterdam and HITEC Dubai. For more information about HITEC and HFTP's other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec. Download the HFTP/HITEC media kit via the HFTP website.About HFTP Hospitality Financial and Technology Professionals (HFTP) is a global nonprofit hospitality association, headquartered in Austin, Texas, USA, that uniquely understands the industry's problems. HFTP has members and stakeholders across the globe. HFTP assists its members in finding solutions to industry problems more efficiently than any organization via its expert networks, research, conferences such as HITEC and certification programs. HFTP also owns the world's only hospitality specific search engine, PineappleSearch.com. HFTP is recognized as the spokes group for the finance and technology segment of the hospitality industry. For more information about HFTP, email membership@hftp.org or download the HFTP/HITEC media kit via the HFTP website.

Service Charges: Then and Now

13 April 2017
Have you ever wondered about the history of the Uniform System of Accounts for the Lodging Industry (USALI)? Recently an HFTP member contacted the HFTP Americas Research Center to research the history of the treatment of service charges in the uniform system for hotels. This sent me down a path of discovery and I found myself fascinated at the changes throughout the years. For example, the 5th edition of the Uniform System of Accounts for Hotels, printed in 1952, presents information pertaining to “service charges to guests for the purchase of railroad, airplane, steamship or other transportation tickets.”

HFTP Chapter Event Highlight: Orange County Interest Meeting

10 April 2017
This month, HFTP is inviting HFTP members and hospitality industry professionals in the Orange County, California USA region to join a special Orange County Chapter Interest Meeting on Thursday, April 27, 2017 from 6:00 to 8:00 p.m. at the Hilton Orange County/Costa Mesa. There has been interest in chartering an HFTP chapter in Orange County area, and HFTP is looking for members to be a part of the development of this chapter. Click here to reserve your spot today.

Upcoming HFTP Webinars: 2017 Edition

5 April 2017
Registration is open for the following 2017 HFTP(r) webinars - secure your spot today. Click here to read more about HFTP webinars. Register NowApril 6 - CHTP Review Series Part 1: Hospitality ApplicationApril 13 - CHTP Review Series Part 2: Technology ManagementApril 18 - Key Changes in PCI DSS 3.2 for the Hospitlaity IndustryApril 20 - CHTP Review Series Part 3: Core TechnologyMay 10 - CHAE Review Series Part 1: Financial AccountingMay 11 - Chapter Leader Series: Forming Partnerships with Students and Student ChaptersMay 17 - CHAE Review Series Part 2: Managerial AccountingMay 24 - CHAE Review Series Part 3: Ethics, Fraud & Internal ControlsMay 31 - CHAE Review Series Part 4: GeneralUpcoming WebinarsMay 9 - Digital Learning Day, Europe (*Registration opens April 2017)May 18 - Digital Learning Day, Asia (*Registration opens April 2017)May 23 - HFTP Webinar Topic TBDJune 13 - HFTP Webinar Topic TBDJuly 20 - HFTP Webinar Topic TBDAugust 15 - HFTP Webinar Topic TBDAugust 24 - Chapter Leader Series: Leadership Transition - Ensureing Success for Future LeadersSeptember 20 - Club Digital Learning Day (*Registration opens August 2017)October 5 - HFTP Webinar Topic TBDOctober 12 - Chapter Leadership Series: Charting a Strong Chapter - Best Practices for PlanningNovember 16 - HFTP Webinar Topic TBDDecember 12 - HFTP Webinar Topic TBDInterested in presenting a webinar? Contact HFTP Meetings & Events Linnet Baskett for more information.Stay ConnectedStay tuned to HFTP's main webpages: HFTP/HITEC; the world's first hospitality-specific search engine: PineappleSearch(r) - mobile app available via iTunes App Store and Google Play; HFTP's official blog: HFTP Connect; HFTP's industry-specific, informational news sites: HITEC Bytes (technology), HFTP Club Bytes (club), HFTP Finance Bytes (finance) and HFTP News (association); and HFTP's social media sites: Facebook, LinkedIn, Twitter (@HFTP), Instagram (HFTP_HITEC), YouTube and Flickr for the latest updates.

HFTP Exceeds Expectations with Inaugural HITEC Amsterdam

4 April 2017
Over 1,100 hospitality industry professionals from around the globe came together in Amsterdam this week to explore the industry's best practices and latest innovations at the inaugural HITEC Amsterdam. Hospitality Financial and Technology Professionals (HFTP(r)), producers of the Hospitality Industry Technology Exposition and Conference (HITEC(r)), exceeded its goal to successfully produce a European counterpart to its recognized, 45-year-old North American event. HITEC Amsterdam was held from March 28-30, 2017 at the RAI Amsterdam Convention Centre. Based on this year's successful show, HFTP has already scheduled HITEC Amsterdam 2018 for April 11-13 at the RAI Convention Centre.The conference served as a regional, concentrated forum to discuss the ins-and-outs of hospitality technology via networking, education and exhibits. The event's educational program featured 30+ speakers, including two keynote presentations, which addressed trending topics such as: EU data privacy legislation, disruptive technologies, e-payments, technology for profit, IT and more. Attendees also had access to an exhibition hall that was home to 83 exhibit booths showcasing the latest in hospitality technology products and services."Thank you to everyone who worked tirelessly to make HFTP's inaugural HITEC Amsterdam an overwhelming success," said HFTP CEO Frank Wolfe, CAE. "We had early indications foreshadowing the event's popularity with the exhibit floor selling out in 72 hours last June to high pre-registration attendance numbers. HFTP is humbled to have surpassed its goal in producing the first European extension of HITEC, and look forward to the future."Expanding on industry innovation, HITEC Amsterdam also offered attendees the chance to witness HFTP's thrilling Entrepreneur 20X (E20X) innovation competition for hospitality startups - contestant Hyre won both the Judge's Award and the People's Startup Award. Exclusively sponsored by HoReCa.digital, HITEC Amsterdam served as the platform for HFTP to debut its popular E20X event in Europe for the first time.HITEC Amsterdam was the first of three HITECs that HFTP will produce this year. Next up, the larger HITEC Toronto is slated for June 26-29, 2017 at the Metro Toronto Convention Centre in Toronto, Ontario Canada. Ending the year, the inaugural HITEC Dubai - a Middle Eastern counterpart - will take place November 14-15 at the Conrad Dubai in Dubai, UAE in partnership with Naseba.For the latest news, download the all-inclusive HITEC 2017 multi-event app from the Apple Store or Google Play - information coming available as each event nears. View the event photo gallery on the HITEC website or Flickr. Read posts from HITEC Amsterdam Guest Bloggers via HFTP's official hospitality blog, HFTP Connect. Follow HFTP/HITEC on HFTP News, HITEC Bytes, Facebook, LinkedIn, Twitter (@HFTP) and Instagram (@HFTP_HITEC). For more information about HITEC, contact the HFTP Meetings & Special Events Department at education@hftp.org or +1 (512) 249-5333. About HITEC HITEC is the world's largest and oldest hospitality technology exposition and conference brand. HITEC offers a unique combination of top-notch education, and brings together the brightest minds and hottest technologies from across the globe to one place. The unparalleled event offers attendees essential education, access to top hospitality technology industry experts and the resources to find cost-effective ways to improve company bottom lines. Combined with the intimate opportunities to connect with fellow professionals, HITEC has everything to enhance your career.Historically hosted annually in a different city throughout the United States, HFTP decided to break tradition in 2017 by hosting three HITEC events all taking place outside of U.S. borders- in Toronto, Amsterdam and Dubai. This will be the first time the global association's largest HITEC event - featuring thousands of hospitality professionals from around the world - will take place outside of the U.S. In 2017, HFTP is producing its larger HITEC Toronto as well as two additional, inaugural HITEC events: HITEC Amsterdam and HITEC Dubai. For more information about HITEC and HFTP's other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec. Download the HFTP/HITEC media kit via the HFTP website.About HFTP Hospitality Financial and Technology Professionals (HFTP) is a global nonprofit hospitality association, headquartered in Austin, Texas, USA, that uniquely understands the industry's problems. HFTP has members and stakeholders across the globe. HFTP assists its members in finding solutions to industry problems more efficiently than any organization via its expert networks, research, conferences such as HITEC and certification programs. HFTP also owns the world's only hospitality specific search engine, PineappleSearch.com. HFTP is recognized as the spokes group for the finance and technology segment of the hospitality industry. For more information about HFTP, email membership@hftp.org or download the HFTP/HITEC media kit via the HFTP website.

How to Make Hotel Technology Profitable

3 April 2017
Hotel tech professionals from all over the world gathered at HITEC Amsterdam last week. After dozens of informative sessions, inspiring keynote speeches and one thrilling hotel tech start-up pitch competition, one thing was very clear: The number of companies offering technologies that can benefit a hotel business is overwhelming. How is a hotelier to know which is the right piece of technology to implement? To help with that quandary, here are a couple of takeaways from the 45th HITEC—also the first ever to be held in Europe.

Dispatches from HFTP Global: Midwest Regional Conference

31 March 2017
As it was my first visit up to the Midwest, I was really looking forward to attending the Midwest Regional Conference March 16-18, 2017 in Bloomington, Minnesota. Bloomington is a suburb of Minneapolis and the conference was located at the at the Radisson Blu hotel which is right next to the Mall of America. Just to give you an idea how big it is, to walk around one level is 1.15 miles of the mall and nine Yankee Stadiums can fit inside the Mall of America. It is a big mall.

Entrepreneur 20X: Wi-Fi, Upselling and Digitalizing Daily Operations

29 March 2017
On Tuesday, March 28, 2017, HFTP’s hospitality start-up pitch competition Entrepreneur 20X (E20X) took place in Europe for the first time at HITEC Amsterdam. Each participant had four minutes to pitch their business concept, followed by four minutes for the expert judges panel to ask questions. I did notice that most of the start-ups were evolving around one (or more, in some cases) of three main hotelier-focused goals.

Weekly Connect from PineappleSearch.com - April 28

28 April 2017
Revolutionizing the hospitality industry, PineappleSearch.com(r) is the world's only hospitality-specific search engine that brings industry professionals the latest, global news when and how they need it. Also available in an app version for mobile devices, on the iTunes App Store and on Google Play, PineappleSearch(r) has all of the information you need to know about clubs, hotels, finance, marketing, technology, social media and much more. Straight from PineappleSearch(r), here is a preview of what happened in hospitality this week:What industry experts want from a hotel stay - Hotel News NowPutting the Front Desk in the Hotel Guest's Pocket - New York TimesIndustry Struggles to Track Travelers Across Devices - Lodging MagazineBusiness Travelers Are Stressed About Safety and Work-Life Balance - skiftThe nose knows: Hotel scents are no accident - Boston GlobeVisit and register at PineappleSearch.com for the latest news and information. Registered users are able to tailor their searches via the search engine's highly-customizable filters, bringing the topics of interest to them front and center on their personalized homepage. Receive a weekly hospitality news update by signing up for PineappleSearch's essential weekly news digest delivered via email.

Open Travel Alliance Published New Golf 2.0 Distribution Standard Enhancing the Golfers Digital Experience

27 April 2017
The OpenTravel Alliance (OpenTravel) has finalized and published the highly anticipated Golf 2.0 Digital Standard for adoption free of charge throughout the travel and tourism industry.The Golf 2.0 Digital Standard is designed to allow the golf enthusiast to research and reserve a round of golf effortlessly by being able to search and retrieve information for facilities with golf, check tee time availability, book tee times, and much more. Furthermore, this updated Standard provides an added value for various travel and tourism verticals, such as hotels or car rental companies, and ground transportation by enabling the opportunity for the golfer to secure golf reservations on site instantly."On behalf of the PGA of America and as a board member of the Golf USA Tee Time Coalition we support consistent technical standards for connectivity and content to facilitate an efficient, open marketplace," said Paul Levy, President of the PGA of America. "The challenge is getting disparate systems to talk to each other and share information (rates, reservations, customer data). As we look to benchmark the golf industry against lodging and airlines, the OpenTravel 2.0 Direct Connect Standard is an important step forward."The Golf 2.0 Standard was commissioned for development by a group of companies who will also be some of the first adapters. This dynamic group made up the Project Team who represents various parts of the golf, travel, tourism, and leisure industry and includes companies such as Disney, Avis Budget Group, Marriott and Golf USA Tee Time Coalition. Other companies included in the development are Century Golf, Hotel Technology Next Generation (HTNG), LinksRez (Project Team Chair), National Golf Course Owners Association, National Golf Course Owners Association - Myrtle Beach Chapter, TinkeyWorks and Travelport.Read Full Press Release>

HFTP Plans for Annual Convention 2017

26 April 2017
The HFTP Annual Convention Education Advisory Council and Nominating Committee met last week at the Omni Orlando Resort at Championsgate in Orlando, Florida USA to prepare for this year's Annual Convention. HFTP CEO Frank Wolfe, CAE was in attendance along with other association representatives.A tentative secudule for this year's program can be found on the Annual Convention website, and will be continuously updated as new information becomes available. Those who would like to attend the event in October can justify their attendance with helpful tips found on the website.Annual Convention 2017 will take place from October 25-27 at the Omni Orlando Resort at Championsgate.

Revenue Recognition: Comments Due June 1, 2017 on Implementation Issues Facing the Airlines, Gaming, Hospitality and Timeshare Industries

26 April 2017
Since 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together to bring the guidance provided in the United States General Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS) in closer alignment. Historically, the U.S. GAAP provided complex transaction and industry specific revenue recognition guidance. For example, U.S. GAAP consisted of various revenue recognition requirements for specific transactions and industries which resulted in differing revenue recognition practices for similar transactions.

10 Reasons Your Business Should Not Wait to Switch to the Cloud

24 April 2017
The Cloud was once conversation for techies and a distant future goal for visionary business leaders. How times have changed! Today, internet-based or “Cloud” computing is enabling businesses of all sizes to gain on-demand access to a growing pool of shared computing resources that includes networks, services, storage, VoIP phone systems and even complete omnichannel contact center solutions.

Weekly Connect from PineappleSearch.com - April 21

21 April 2017
Revolutionizing the hospitality industry, PineappleSearch.com(r) is the world's only hospitality-specific search engine that brings industry professionals the latest, global news when and how they need it. Also available in an app version for mobile devices, on the iTunes App Store and on Google Play, PineappleSearch(r) has all of the information you need to know about clubs, hotels, finance, marketing, technology, social media and much more. Straight from PineappleSearch(r), here is a preview of what happened in hospitality this week:Independent hotels tie green strategy into experience - Hotel News NowAutomation Opportunities for Luxury Hotels & Travel - Hotel Speak... Talking HotelsDoes the Guest of the Future want High Tech or High Touch? - Ecole hoteliere de LausanneHow to control costs at your hotel - Hotel ManagementHeightened Millennial Expectations Shift the Travel Industry - Marketing TravelVisit and register at PineappleSearch.com for the latest news and information. Registered users are able to tailor their searches via the search engine's highly-customizable filters, bringing the topics of interest to them front and center on their personalized homepage. Receive a weekly hospitality news update by signing up for PineappleSearch's essential weekly news digest delivered via email.

Canadian Officials Welcome HFTP's HITEC Toronto

21 April 2017
HFTP is honored to receive greetings from Tourism Toronto and Canadian officials including the Prime Minister, Mayor of Toronto and The Premier of Ontario. The officials extended a warm welcome to everyone attending HFTP's Hospitality Industry Technology Exposition and Conference (HITEC(r)) being held in Toronto this June - the 45th anniversary since the event's creation in 1972.In a personal message from Premier of Ontario Kathleen Wynne, HFTP and its members were recognized for "the vital role they play in fostering a global network of interest and expertise in the finance and technology segment of the hospitality industry." Prime Minister of Canada Justin Trudeau, P.C., M.P., commended HFTP and it's organizers for developing a conference program - the largest of its kind - that supports the growth and advancement of the hospitality technology industry. Also mentioning that the event's wealth of new ideas will be an inspiration for professional success. View the welcome letters below.About HITECHITEC is the world's largest and oldest hospitality technology exposition and conference brand backed by 45 years of planning expertise from the only organization that internationally produces nonprofit hospitality conferences -- Hospitality Financial and Technology Professionals (HFTP(r)). HITEC offers a unique combination of top-notch education, and brings together the brightest minds and hottest technologies from across the globe to one place. The unparalleled event offers attendees essential education, access to top hospitality technology industry experts and the resources to find cost-effective ways to improve company bottom lines. Combined with the intimate opportunities to connect with fellow professionals, HITEC has everything to enhance your career.Historically hosted annually in a different city throughout the United States, HFTP breaks tradition in 2017 with plans to host for the first time, three different HITECs all taking place outside of the United States: Amsterdam, Toronto and Dubai. HITEC Amsterdam was held March 28-30. HITEC Toronto is June 26-29 at the Metro Toronto Convention Centre and HITEC Dubai is November 14-15 at the Conrad Dubai.For more information about HITEC and HFTP's other global activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec.

Congratulations 2017 CHTP of the Year: Clint DeMill, CHTP

19 April 2017
Hospitality Financial and Technology Professionals (HFTP(r)), will honor Clint DeMill, CHTP as the 2017 Certified Hospitality Technology Professional (CHTP(r)) of the Year at HITEC Toronto this June. The CHTP of the Year award honors the individual that scored the highest on the CHTP certification exam within a given year. HITEC Toronto, HFTP's second and largest HITEC of 2017, will take place from June 26-29 at the Metro Toronto Convention Centre in Toronto, Ontario Canada.DeMill began his hospitality career at a mountain resort in Utah USA in 1996. He later moved to The University Guest House at the University of Utah, which was preparing to host the 2002 Olympic Winter Games. He has worked in hospitality accounting while earning a degree in Parks, Recreation and Tourism at the University of Utah. DeMill contributes to many areas of the hotel, conferences and events, and also received his Certified Meeting Professional (CMP) designation in 2016. He is currently working as associate director of administration at The University of Utah Guest House and Conference Center.Read More>

HT-NEXT Visits Rosen College of Hospitality Management

18 April 2017
Almost 300 HT-NEXT conference attendees filled the Rosen College of Hospitality Management's Darden Auditorium on Monday, April 10, 2017, as part of the conference's first day of sessions. For a little over an hour, information and ideas about hospitality technology workgroups was shared, in a lead up to the soft-opening of the Rosen College's Hospitality Technology & Innovation Lab.The Lab, is a hub of product demonstration and testing, research, professional training and innovative education to advance the hospitality industry. In its current temporary space on the second floor of the campus' main classroom building, the Lab links practical lecture-based learning to real-life experience, and extends high quality education and training to students and professionals worldwide.At launch, in its infancy, the Lab is supported by two major sponsors, Hospitality Financial & Technology Professionals (HFTP) and Hotel Technology Next Generation (HTNG), and industry partners such as Samsung and Freeman. HTNG is a global not-for-profit trade association that fosters, through collaboration and partnership among hoteliers and technology providers, the development of next-generation solutions enabling global business enterprises. HTNG is providing work group opportunities and solutions for the Lab over at a three-year period. Rosen College will be undergoing an expansion over the next two years, adding a 50,000 square-foot building to the campus. In the new building, 4,000 square-feet will be carved out to house the Lab, allowing for more work groups and greater flexibility for learning and research.The Lab's mission, goals and purpose are as follows:Establish a product and service test-bed along with evaluation services for the hospitality industry and supporting technology suppliers.Consumers can perform product testing on new technologies and innovations and lead focus group efforts.Develop a lab for the hotel of the future and technologies for the next generation of travelers.Enhance the quality of education by providing students with a virtual hotel world lab.Students will practice customer service and operational skills in an online, multi-user 3D simulation, allowing them to visualize and interact with the tools.The idea for the lab was spawned by alumni David Heckaman, Vice President of Technology, Mandarin Oriental Hotel Group, who fully supports training future leaders of the hospitality industry with the latest technology available.HT-NEXT's visit to the Rosen College campus culminated with a reception in the college's courtyard. HTNG sponsored the reception. The HT-NEXT conference was hosted at Rosen Shingle Creek Resort, located next door to the college and ran from April 10 to April 13, 2017.Read Full Article>Rosen College's Hospitality Technology & Innovation Lab>Lab Founding Sponsors>

Weekly Connect from PineappleSearch.com - April 17

17 April 2017
Revolutionizing the hospitality industry, PineappleSearch.com(r) is the world's only hospitality-specific search engine that brings industry professionals the latest, global news when and how they need it. Also available in an app version for mobile devices, on the iTunes App Store and on Google Play, PineappleSearch(r) has all of the information you need to know about clubs, hotels, finance, marketing, technology, social media and much more. Straight from PineappleSearch(r), here is a preview of what happened in hospitality this week:Smart business hotels where work meets play - CNNDon't prioritize profits over hospitality - Hotel News NowA Career in Luxury: Passion Required - Hotel OnlineTravel experiences shouldn't include mismatched outlets - Hotel ManagementThe impact of emerging technology on corporate travel - tnoozVisit and register at PineappleSearch.com for the latest news and information. Registered users are able to tailor their searches via the search engine's highly-customizable filters, bringing the topics of interest to them front and center on their personalized homepage. Receive a weekly hospitality news update by signing up for PineappleSearch's essential weekly news digest delivered via email.

Chapter Events - April 16-30

12 April 2017
HFTP Chapter events for the second half of April, 2017 April 18, 2017Florida Gulf Coast Chapter5:30 - 8:00 p.m. | Palmira Golf ClubFlorida Sales Tax presentation by Guest Speaker Dave Elder from RSM US, LLPFor further details and RSVP - CLICK HERENew Mexico Chapter6:00-8:30 p.m. | Buffalo Thunder ResortCrime Statistics, Identity Fraud & Credit Card FraudFor further details and RSVP - CLICK HEREApril 19, 2017Florida Treasure Coast Chapter5:00 - 8:00 p.m. | Maple StreetSocial with Daniel Conti HFTP Global Past PresidentFor further details and RSVP - CLICK HERELong Island Chapter4:30 - 7:30 p.m. | North Fork Country ClubLong Term Capital Planning-The Roadmap to Financial Sustainability Presented by: Dave Duval & Joe Abely, Club Board Professionals, LLCFor further details and RSVP - CLICK HERE April 20, 2017Houston Chapter6:00 - 9:00 p.m. | Houston Country ClubFederal, state, and local tax challenges presentation by Jaye Calhoun - partner in the New Orleans office of Kean MillerFor further details and RSVP - CLICK HERECentral Virginia Chapter3:00 - 5:00 p.m. | The Jefferson HotelUnclaimed Property in Virginia presented by Jennifer Arias, CPA, Senior Manager of State & Local Tax for RSM US LLPFor further details and RSVP - CLICK HEREWashington Metropolitan Area Club Chapter11:30 a.m. - 1:30 p.m. | Manor Country ClubApril Chapter Meeting - HR UpdateFor further details and RSVP - CLICK HEREMid Florida/Orlando Chapter12:30 - 7:45 p.m. | The Plaza Grand Resort & SpaHFTP & Lodging & Hospitality Association of Volusia County Mini EducationalFor further details and RSVP - CLICK HEREPuget Sound Chapter6:00 - 9:00 p.m. | Thompson Seattle HotelWhat's New in the Newest Seattle Hotel? Property Tour of the new Thompson HotelFor further details and RSVP - CLICK HERECleveland/Akron Chapter8:30 - 10:30 a.m. | Canterbury Golf ClubFintech-Alcohol Electronic Payment System presented by Sue Horning, Account Executive of FINTECHFor further details and RSVP - CLICK HERE April 21, 2017Monterey Chapter6:00 - 9:00 p.m. | Hyatt Regency MontereyRevenue Management PresentationFor further details and RSVP - CLICK HERESouthern Alberta Chapter6:00 - 8:00 p.m. | Delta Banff Royal Canadian LodgeDinner Meeting with a presentation by a Representation from XeroxFor further details and RSVP - CLICK HERESouth Carolina Chapter11:00 a.m. - 1:00 p.m. | Kiawah Island ClubPresentations - 401K and fiduciary responsibility & Workers Comp and strategies to bring associates back to work properlyFor further details and RSVP - CLICK HEREBay Area Club Chapter11:00 a.m. - 2:00 p.m. | La RinconadaLabor Updates With Health Care presented by Mike Bryant - Dudum Financial - ACA update | Bruce Sarchat - Labor Law updatesFor further details and RSVP - CLICK HERECharlotte - Blue Ridge Chapter11:00 a.m. - 2:00 p.m. | Peninsula ClubChapter meeting - OSHA and Controlling Worker's Compensation Costs presented by Rob Kay, Risk Control Manager, Oasis OutsourcingFor further details and RSVP - CLICK HERE April 22, 2017Northern Connecticut Chapter2:00 - 10:00 p.m. | Litchfield DistilleryWinter Social and 2017 Planning MeetingFor further details and RSVP - CLICK HEREApril 25, 2017Jamaica ChapterTime and Location TBDApril Membership MeetingFor further details and RSVP - CLICK HEREFlorida Manasota Chapter5:30 - 8:30 p.m. | Plantation Golf & Country ClubHospitality Ethics presented by Keith A. Barron, Esq. Instructor College of Hospitality & Tourism Leadership University of South Florida Sarasota-ManateeFor further details and RSVP - CLICK HERESouth Florida Chapter6:00 p.m. | Joe's Stone CrabAnnual Joes Stone Crab eventFor further details and RSVP - CLICK HEREApril 26, 2017Milwaukee ChapterTime TBD | Wisconsin Club (Country)April Chapter MeetingFor further details and RSVP - CLICK HERENew York City Chapter5:30 - 8:00 p.m. | Crowne Plaza Manhattan-Times SquareHospitality IoT, Energy Comfort and Analytics from The Connected Guest Room Experience Presented by Greg Poirer, NE Director of Sales, Honeywell Hospitality - Inncom DivisionFor further details and RSVP - CLICK HEREBritish Columbia Chapter12:00 - 2:00 p.m. | Sheraton Wall Centre - Granville RoomRapid PCI DSS compliance. Lessons from the trenches for CFOs and IT Directors with Guest Speaker: Ivo Georgiev, B.Sc. CISSP CISA CRISC CISMFor further details and RSVP - CLICK HEREMid-Jersey Chapter4:00 - 8:00 p.m. | Ridgewood Country ClubBeacon Technology presented by Garret Boos - Northstar Club Management Software, Sales Director-Northeast U.S.For further details and RSVP - CLICK HEREApril 27, 2017Ohio Valley Chapter4:00 - 6:00 p.m. | Dave & Buster'sApril Social EventFor further details and RSVP - CLICK HEREAustin Chapter11:30 a.m. - 1:00 p.m. | Hilton Austin AirportLuncheon with TABC presented by Todd Talley of TABCFor further details and RSVP - CLICK HEREGreater Philadelphia Chapter5:30 - 8:30 p.m. | St. Martins ClubhouseThe Minefield of Human Resources in the Workplace presented by John E. Garber, Jr., CSP, SPHR, SHRM-SCP Managing Director - KMRD Partners, Inc.For further details and RSVP - CLICK HEREOrange County California6:00 - 8:00 p.m. | Hilton Orange County/Costa MesaOrange County Chapter Interest MeetingFor further details and RSVP - CLICK HEREFlorida Gold Coast Chapter11:30 a.m. - 1:30 p.m. | Mizner Country ClubStrategies on Collections of Delinquent Accounts presented by Larry Corman, Esq., Shareholder, GreenspoonMarderFor further details and RSVP - CLICK HEREMinneapolis/ St. Paul Chapter5:00 - 7:00 p.m. | Oak Ridge Country ClubApril Chapter Meeting and Midwest Regional Conference HighlightsFor further details and RSVP - CLICK HERE April 28, 2017Atlanta Chapter8:00 - 9:30 a.m. | Frazier & Deeter, LLC, Promenade BuildingBest Labor Practices presented by Speaker: Hayden Pace, Attorney, Stokes WagnerFor further details and RSVP - CLICK HERE

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