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  • HFTP Research Report: Pre-opening Expenditures in Hospitality

    A study of the pre-opening budget; the timeline for these expenditures; timeline for onboarding of staff; and the selection, installation and training of the technology component. By Agnes DeFranco, Ed.

  • New Global Directors Join the 2018-2019 HFTP Board

    The HFTP 2018-2019 Global Board of Directors was installed during the association's 2018 Annual Convention and introduces new directors Toni Bau, Carson Booth, CHTP and Mark Fancourt. These extensive director profiles give insight into the distinguished professions and personal goals of HFTP's newest association leaders.

  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

  • IT Spending in the Lodging Industry Three-year Analysis: 2015–2017

    By Agnes DeFranco, Ed.D., CHAE; Arlene Ramirez, CHE, CHAE; and Tanya Venegas, MBA, MHM, CHIA. PART II: An analysis of IT spending data in the lodging industry based on reporting in the new USALI Schedule 6 — Information and Telecommunications Systems.

HFTP Announces 2019 CHTP of the Year Recipient

25 April 2019
Hospitality Financial and Technology Professionals (HFTP(r)), will honor Shareef Fahmy, CHAE, CHTP as the 2019 Certified Hospitality Technology Professional (CHTP(r)) of the Year recipient during HITEC Minneapolis 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 Minneapolis will take place June 17-20, 2019 at the Minneapolis Convention Center in Minneapolis, Minnesota USA.Fahmy is the assistant director of finance for the Portola Hotel & Spa in Monterey, California. He was also the recipient of the 2013 Certified Hospitality Accountant Executive (CHAE(r)) of the Year award. Fahmy serves on Global HFTP councils and co-founded the local chapter in Monterey, where he has served as its presidents for two terms and helped the chapter win two Chapter of the Year awards."I am proud to represent my hotel and HFTP, two organizations that have given so much to me," says Fahmy. "I will continue to do what I can to give back and support the community that has supported me, including promoting HFTP's education and certification programs."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 or visit www.hftp.org.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.

Attend HFTP China Chapter Interest Meeting

25 April 2019
HFTP Chief Executive Officer Frank Wolfe, CAE welcomes you to this special evening event, where you can network and learn more about the development of this chapter. Join other local hospitality professionals on Monday, May 27, 2019 and help start an HFTP China chapter.There has been interest in chartering an HFTP chapter in China. Having a local chapter can help members expand their network, increase their educational opportunities and build strong connections with industry professionals.HFTP China Chapter Charter Interest MeetingJiu Dian Ye Cai Wu Yu Ke Ji Zhuan Ye Ren Shi Xie Hui (HFTP)Zhong Guo Qu Fen Hui Yu Bei Hui Yi Shi Jian :2019Nian 5Yue 27Ri (Xing Qi Yi )Xia Wu :19:00 - 21:30Monday, May 27, 2019Location: Shanghai Marriott Hotel Parkview, Meeting Room 1+2333 Guang Zhong Road West, Jing'an DistrictDi Dian :Shang Hai Bao Hua Mo Hao Jiu Dian ,Hui Yi Shi Yi He Er Shang Hai Jing An Qu Yan Zhong Xi Lu 333Hao To attend, please RSVP.

HFTP's Third HITEC Europe Builds Momentum for Hospitality Technology Gathering

11 April 2019
Hospitality industry professionals from across Europe and beyond, representing 34 countries, came together in Palma, Mallorca, Spain this week to explore the industry's best practices and latest innovations at HITEC Europe. Hospitality Financial and Technology Professionals (HFTP), producers of the Hospitality Industry Technology Exposition and Conference (HITEC), is building momentum for its annual event with its third successful European counterpart to its recognized, 47-year-old North American event. HITEC Europe was held from April 9-11, 2019 at the Palau de Congressos Palma.The beautiful locale was a highlight to the event and delegates were honored with a greeting from Spanish officials -- Spain's Secretary of State for Tourism Isabel Oliver and President of the Government of Balearic Islands Francina Armengol. Based on this year's successful show and welcoming location, HFTP has already scheduled HITEC Europe 2020 for April 21-23 in the same place.The conference served as a concentrated forum to discuss the ins-and-outs of hospitality technology via networking, education and exhibits. HITEC Europe's educational program featured 30+ speakers, including a keynote presentation on the first day by award-winning futurist Rohit Talwar and a CIO panel discussing "The Next Industry Threat."The education program addressed trending topics such as: GDPR, integration, InfoSec, employee technology, IoT and more. Delegates also had access to an exhibition hall that was home to 60+ exhibit booths showcasing the latest in hospitality technology products and services."Thank you to everyone who worked tirelessly to make HFTP's HITEC Europe an overwhelming success," said HFTP CEO Frank Wolfe, CAE. "In its third year, the event has become a central forum for exploring the technological nuances that are essential to the success of a hospitality business."Before the official start to HITEC Europe, HFTP hosted two pre-conference programs on April 9: the CIO/CFO Round Table Event and Entrepreneur 20X. The CIO/CFO Round Table Event was an invitation-only gathering for c-level executives to have high-level discussions on pressing industry issues. The half-day meeting was sponsored by FourteenIP, Chargifi and vtech.Expanding on industry innovation, HITEC Europe also offered attendees the chance to witness HFTP's thrilling Entrepreneur 20X (E20X) innovation competition for hospitality startups. This year eight companies competed, and the contestant Hotelway won the Judges' Choice Award, including a cash prize. Oaky won the Peoples' Choice Award, presented at the conclusion of HITEC Europe and decided by vote via the HITEC Event app. This year's E20X Europe was exclusively sponsored by Datavision Technologies.HITEC Europe was the first of three HITECs that HFTP will produce this year. Next up, the larger HITEC Minneapolis is slated for June 17-20, 2019 at the Minneapolis Convention Centre in Minneapolis, Minnesota USA. Ending the year is HITEC Dubai - a Middle Eastern counterpart - will take place November 12-13 at the Festival Arena by Intercontinental in Festival City Dubai, UAE in partnership with Naseba.View the event photo gallery. 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.

Backed by Dubai Tourism the Middle East's Largest Hospitality Technology Exhibition and Conference 'HITEC Dubai 2019' to Return in November

11 April 2019
It has been announced that Dubai's Department of Tourism & Commerce Marketing (Dubai Tourism) will once again be the destination partner for HITEC Dubai 2019 taking place on November 12-13. Building on last year's success, the Middle East's largest hospitality technology exhibition and conference that is co-produced by Hospitality Financial and Technology Professionals (HFTP) and Naseba, will be held in Dubai at a twice larger venue - The Festival Arena by InterContinental Dubai Festival City. The annual business-to-business (B2B) exhibition is expected to welcome more than 2,500 trade visitors and industry stakeholders over the two days giving Middle East buyers, currently worth over USD 75 billion, access to the world's leading hospitality technology solution providers and experts.Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, said: "We are pleased to support HITEC Dubai again as it continues to put the spotlight on technology in hospitality. As a city that strives to be at the forefront of innovation across all sectors, it is vital that we host events like this, focusing on technologies that could redefine and enhance the visitor journey and experience. Driven by the city's leadership and guided by Dubai's Tourism Vision 2025, we understand that a tourism industry that is able to provide smart, seamless and sustainable experiences for visitors is one primed for success. We look forward to continuing to work with HITEC Dubai and our stakeholders and partners to ensure this is delivered."Frank Wolfe CAE, CEO of HFTP, said: "We are glad that Dubai Tourism is endorsing HITEC Dubai for the third successive year. Last year we saw more than 200 percent increase in the attendance. As Dubai has firmly established itself as a global technology hub emerging as one of the fastest growing smart cities in the world and we are very excited to be part of its success. With the targeted growth in tourism and events such as Expo 2020 Dubai, the hospitality industry will inevitably continue to evolve and, therefore, will need more technology to be successful. HITEC Dubai will give an opportunity to regional hospitality buyers to learn about and introduce the latest technologies into their organisations."HITEC Dubai's Advisory Council Chairperson Laurent A. Voivenel, Senior Vice President, Operations and Development for the Middle East, Africa and India for Swiss-Belhotel International, said, "We are very excited about HITEC Dubai that will introduce new technologies, ideas and innovations in our industry designed to elevate the experience of guests as well as optimise business processes and operational efficiency. We are eager to see how advancements in areas of artificial intelligence (AI), augmented reality (AR) and biometrics, etc can take us to a new level of enablement and transformation of customer experiences."According to recent industry reports, Dubai attracted $21.66 billion worth of foreign direct investment in high-end technology transfers in three years. This consequently earned the emirate the top rank globally in 2018 in the share of FDI in technology transfers like artificial intelligence (AI) and robotics.About NasebaNaseba offers global business facilitation services. The company creates growth opportunities by bringing together people, partners and ideas. It helps clients raise capital, enter new markets, secure partners, close sales and educate workforces. Naseba's goal is to create opportunity and add economic value at every stage of its client's journey. It does this through three key areas: investor services, commercial services and leadership services. Since inception in 2002, Naseba has facilitated deals totalling billions of dollars for its clients. The company has connected over 100,000 global executives through more than 1,000 proprietary business platforms and is an expert in growth markets.

HFTP Minneapolis/St. Paul Chapter Expects Global Officer Visit this Month

8 April 2019
You are invited to the upcoming HFTP Minneapolis/St. Paul Chapter event to network with HFTP members and other hospitality professionals in attendance.Lucinda Hart, CAE, MBA, HFTP Global Chief Operations Officer, will be presenting the HFTP Global Update. Come learn what is happening around the world with HFTP, the future direction of HFTP, and the intrinsic value the association brings to its members.Chapter Event Details: April 24, 2019 | 5:00 p.m. Hilton Minneapolis 1001 Marquette Avenue | Minneapolis, MN 55403To attend, please send your RSVP.

HFTP Central Coast Chapter to Host April Education Meeting

8 April 2019
The HFTP Central Coast Chapter will host its April education meeting on the "Cannabis Effect on Hospitality" later this month on Thursday, April 25, 2019. Learn from two experts in the field about the legalization of cannabis and how it affects all aspects of the hospitality, club and golf industry. From workers compensation issues to the handling of guests, come to hear about what you can and cannot do.Victor Xu is an associate for Goldberg Segalla in the firm's Employment and Labor Practice Group. Lisa Peterson is an associate for Goldberg Segalla in the firm's Employment and Labor, General Liability and Retail and Hospitality Practice Groups.Chapter Meeting Details:Thursday, April 25 | 5:00 p.m.Casa Blanca330 State Street | Santa Barbara CA 93101HFTP Central Coast Chapter Members -- $20 (Includes a four course dinner)HFTP Central Coast Prospective Members -- Dinner hosted by the chapterTo attend please send your RSVP.

HFTP Partners with HotStats on the Global Hospitality Accounting Common Practices Database

8 April 2019
Hospitality Financial and Technology Professionals (HFTP) has announced a partnership with HotStats to manage the Global Hospitality Accounting Common Practices (GHACP) database. First released in Fall 2014 by HFTP, the new agreement will move the site hosting to HotStats with complimentary access to HFTP members. In addition, HotStats will expand the database by incorporating its chart of accounts, alongside the current editions of the Uniform System of Accounts for the Lodging Industry (USALI) and the Uniform System of Financial Reporting for Clubs (USFRC).The resource was created with the intention that it would be continuously developed to follow the ever-changing hospitality industry. The new partnership will facilitate this aim with access to up-to-date financial data from HotStats, a profit and loss benchmarking service."GHACP database is a global effort to provide an accessible online source of resources and guidance for hospitality industry accounting practices," said HFTP CEO Frank Wolfe, CAE. "Together with HotStats we can ensure that this powerful and invaluable tool continues to be useful to hospitality accounting and financial professionals at all levels.""Hospitality is a nuanced industry and this is even more pronounced on the finance side," said Pablo Alonso, CEO of HotStats. "The GHACP is one way stakeholders can stay abreast of the intricacies that go into financial reporting and other key matters. HotStats is delighted to partner with HFTP on this important initiative."The GHACP allows users to learn and compare their financial reporting practices to current hospitality industry standards for both the lodging and club segments of the industry. Detailed operating financial reporting practices included are from the United States, Netherlands, United Kingdom, France, Hong Kong and Shanghai, China; as well as from the USALI, 10th and 11th editions and the USFRC, 7th edition. In particular the resource features example operating schedules for the various systems in addition to a searchable database of items (nominals) and accounts.About HotStatsHotStats provides a unique profit and loss benchmarking service to hoteliers from across the globe, which enables monthly comparison of hotels' performance against their competitors. It is distinguished by the fact that it provides in excess of 100 performance metric comparisons covering 70 areas of hotel revenue, cost, profit and statistics providing far deeper insight into the hotel operation than any other tool. The HotStats database currently totals over a million hotel rooms worldwide.

Two Opportunities to Join HFTP this Spring in San Diego, California

4 April 2019
Join local HFTP members and hospitality professionals for networking and education at two meetings being hosted by the HFTP San Diego Chapter this spring.April 2019 Meeting Wednesday, April 24, 2019 * 11:00 a.m. - 1:00 p.m. Andaz San Diego * 600 F Street * San Diego, California USATo attend in April, please send your RSVP.May 2019 Meeting Wednesday, May 22, 2019 * 5:30 - 8:30 p.m. The Lodge at Torrey Pines * 11480 North Torrey Pines Rd. * La Jolla, California USATo attend in May, please send your RSVP.

HFTP Announces Datavision Technologies as Exclusive Entrepreneur 20X Sponsor at HITEC Europe

3 April 2019
Hospitality Financial and Technology Professionals (HFTP) has announced that Datavision Technologies, which provides business intelligence for hospitality and a long-time exhibitor with HFTP, will become the exclusive sponsor for the upcoming European Entrepreneur 20X (E20X). The successful E20X pitch competition, featuring eight hospitality technology startups, will take place as a HITEC Europe pre-conference event on the afternoon of April 9. On the following two days is the third-annual HITEC Europe, produced by HFTP, featuring a full educational conference, an expo and networking party. HFTP's HITEC Europe is the first of three HITEC events planned for 2019, and will take place April 10-11 at the Palau de Congressos in Mallorca, Palma, Spain.HFTP's Entrepreneur 20X is a pitch competition that provides hospitality technology start-ups a career-boosting opportunity with exposure to top industry mentors, investors, leaders and executives. The startups compete for two separate awards, including a cash prize, and much more in this thrilling competition series."We are grateful for our partnership with Datavision for supporting innovation in Europe this year," said HFTP CEO Frank Wolfe, CAE. "This sponsorship speaks directly to Datavision's commitment to moving the industry forward and assisting these entrepreneurs in taking their companies to the next level."Companies participating in the E20X competition benefit from access to industry experts, mentorship from key hospitality executives and leaders, venture capitalists and experienced entrepreneurs. Datavision team members have previously served as mentors to E20X participants and enjoyed the experience."Datavision is honored to sponsor this vendor startup competition event, initially created by HFTP almost five years ago," said Sherry Marek, co-founder and vice president of Datavision Technologies. "HFTP supports technology and finance professionals in many ways: trade show venues, mentorships, certification, education opportunities, career centers and more. Sudharshan Chary, president of Datavision, welcomes the opportunity to assist other vendors in moving the idea from the back of a napkin to the front of the world."In addition to HITEC Europe, in 2019 HFTP is producing the larger HITEC Minneapolis on June 17-20 in Minneapolis, Minnesota, USA and HITEC Dubai on November 12-13 in partnership with Naseba in Dubai, UAE. 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.hitec.org.About Datavision TechnologiesExperience, Expertise and Customer Care... At Datavision, these are not just cliches - these are the basic rules by which we operate. From our offices in Miami, we have been working within the hospitality industry for many years. Since we work exclusively in hospitality, we have acquired an intimate working knowledge of hotels and resorts and fully understand the unique challenges facing our industry. We love data! We live, eat and breathe data. Our goal is to help our customers corral data that is distributed across multiple systems and provide a 360-degree view of the business - Helping run a more efficient operation. Our clients provide top notch service to their guests by understanding their needs. They expect nothing less from their business partners. Datavision is currently used around the world, including some of the very best resorts and multi-property companies. To learn more about our business intelligence modules, solutions and how our customers use Datavision in their daily operations, please visit our corporate website, www.datavisiontech.com, or contact Bonnie Wise at 1 (954) 299-7184, or bwise@datavisiontech.com

Download the HFTP Events Mobile App for HITEC Europe 2019

2 April 2019
The HITEC Europe 2019 app that is now available. Search for "HFTP Events" in the Apple and Google Play stores to download the app now. The 2019 HFTP Multi-Event App is an interactive and informative tool that allows you to organize your event experience, so you can arrive prepared and ready to go.Connect with attendees and exhibitors through in-app correspondence capabilities. Send a message, request a meeting and share contact information. HITEC Europe 2019 is taking place April 9-11 at the Palau de Congressos in Palma, Mallorca, Spain. Register now.Even before you arrive at HITEC Europe, the app will serve as your comprehensive guide for information on the entire event:View the agenda for each day's sessions or search by education track.Arrange your education sessions and save to your agenda for easy reference.Connect with attendees and exhibitors through in-app correspondence capabilities. Send a message, request a meeting and share contact information.Search for exhibitors, hospitality products and solutions, or request a meeting.Get the latest HFTP and industry news.(Note: HFTP respects the privacy of our attendees. All registered exhibitors and attendees may view the list of participants in the HFTP Events app. Unless you share your contact information directly, all in-app correspondence is done solely in the app.)Download for AppleDownload for Google PlayRegister for HITEC Europe 2019

HFTP Offers New Corporate Allied Sponsorship; Providing Association Benefits to Employees and Company

2 April 2019
"HFTP builds resources to benefit the hospitality industry as a whole, drawing input from its global network, including its numerous corporate supporters," said HFTP CEO Frank Wolfe, CAE. "Adding the Allied Corporate Sponsorship will not only expand professional development for participants' employees and company recognition; but would also increase the depth of HFTP's network."The HFTP Corporate Allied Sponsorship starts with an annual fee of $3,000 USD and includes up to five individual HFTP memberships. The individual memberships include online and in-person educational programming, access to HFTP online communities, industry reference texts and current research, membership to an HFTP chapter and countless networking opportunities. In addition, the participating companies will be recognized on the HFTP website as an Allied Corporate Sponsor and given exhibiting discounts at HFTP events and a membership to Hsyndicate with two credits on HFTP's Bytes news sites.To learn more about the Corporate Allied Sponsorship contact HFTP Sales and Accounts Manager Matt Chambers at +1 (512) 220-6443 or matt.chambers@hftp.org.

International Hotel and Restaurant Association (IH&RA) Names Frank Wolfe to Executive Committee

29 March 2019
The International Hotel and Restaurant Association (IH&RA) announced today that Frank Wolfe, CAE, will join its executive committee for a three-year term (2019-2021). Wolfe is a 35-year veteran of hospitality and is celebrating his 28th year as CEO of Hospitality Financial and Technology Professionals (HFTP)."IH&RA is honored to have some of the hospitality industry's icons like Frank Wolfe to serve on our executive committee and board of directors," said Dr. Ghassan Aidi, president of IH&RA. "As the oldest business organization since 1869, representing hospitality in the world and the only hospitality organization officially recognized by the United Nations, IH&RA as the voice of the private sector lobby tirelessly on behalf of the industry. It takes volunteers like Frank to make our organization successful."Wolfe joins a stellar group of industry executives from Switzerland, UAE, Kuwait, China, Spain, Argentina, UK and France. All members are volunteers who serve on behalf of their country and associations to lobby and advocate for the mutual interests of the hospitality Industry.After leaving the Texas Restaurant Association, Wolfe became executive vice president/CEO of HFTP. He is the spokesperson for HFTP and frequently speaks on hospitality finance, technology, social media and travel issues to varied audiences and has presented in more than 25 countries. He is also a regular columnist for Hotel Management, Hospitality Upgrade and The Boardroom magazines. He has been featured in association, conference and industry publications and has appeared on several television network interviews and programs around the world. Wolfe's current and previous director positions include: International Hotel & Restaurant Association; American Hotel & Lodging Association; Dean's Advisory Board at Hilton College - University of Houston; University of Central Florida Rosen School of Hospitality Management and the Texas Society of Association Executives."I am proud to have Frank on my board" says Dr Aidi, "He has been a member for 20 years and I count personally on his advise, work, knowledge and friendship to help make our industry better.""Serving on the Executive Committee of IH&RA is one of the greatest honors of my career," said Wolfe. "IH&RA provides an enormous service for hospitality from helping to limit human trafficking to its Emeraude Hotel program for sustainable development certification."Any organization that has an interest in hospitality and would like to help further the IH&RA strategic goals can email admin@ih-ra.org for more information.About IH&RAThe International Hotel & Restaurant Association was founded in 1859 in Koblenz (Germany) and is the only business organization representing the hospitality industry worldwide. Its members are national hotel and restaurant associations throughout the world, and international and national hotel and restaurant chains representing some 50 brands. Officially recognized by the United Nations as the only hospitality organization representing hospitality, IH&RA monitors and lobbies all international agencies on behalf of this industry, estimated to comprise 300,000 hotels and 8 million restaurants, employ 60 million people and contribute 950 billion USD annually to the global economy.

New HFTP Research Report Sheds Light on Hotel Pre-opening Budgets and IT Timelines

28 March 2019
A new HFTP study entitled "Pre-Opening Expenditures in Hospitality" by authors Agnes DeFranco, Ed.D., CHAE and Arlene Ramirez, MBA, CHAE, CHE, CHIA of the Conrad N Hilton College, University of Houston, and Tanya Venegas, MBA, MHM, CHIA, director of customer success at HotStats, investigates pre-opening budget timelines and procedures in the hospitality industry. Commissioned by Hospitality Financial and Technology Professionals (HFTP), the study aims to clarify understanding of the optimal pre-opening processes and components across hotels of a variety of types, sizes and geographic locations."The researchers identified a significant blind spot in industry knowledge and took bold steps to fill that gap," said HFTP CEO Frank Wolfe, CAE. "Their work is a crucial contribution to HFTP's initiative to provide current, high-quality educational resources to our industry."When asked their thoughts on the outcome of the study, the three researchers commented as follows:"An interesting aspect of this study was the variety in the interpretation of what should be contained in the pre-opening budget. The study reflects the need for more clarification and guidelines on the timing and types of costs that should be included in order to be compliant with GAAP and provide management with information that is useful in making decisions during this phase of project development."The researchers surveyed executives with experience in hospitality and/or finance to understand their experiences and unique approaches to the process. Respondents oversaw an average of 22 hotels each, which ranged across five continents. The majority of the properties represented were classified as Luxury/Upscale. Guidance based on contributors' responses includes common practices for pre-opening budgeting: development, timeline and oversight. Within the budget planning is a chart of top expenses by property class and labor costs, with details on hiring timelines and employee relocation benefits. In addition, the report offers pre-opening timelines for the selection, installation and training for hardware and software systems.Download the full report from HFTP News at news.hftp.org.

HFTP Announces Startups for Entrepreneur 20X at HITEC Europe

25 March 2019
Hospitality Financial and Technology Professionals (HFTP), producers of Hospitality Industry Technology Exposition and Conference (HITEC), is pleased to announce the selected hospitality technology startups that will participate in Entrepreneur 20X (E20X) at HITEC Europe. The E20X start-up pitch competition is on April 9 from 3:00 to 6:00 p.m. at the Palau de Congressos in Palma, Mallorca, Spain; all registered HITEC Europe delegates are welcome to attend. The competition is a pre-conference event attached to HITEC Europe, part of the largest hospitality technology exposition and conference brand: HITEC.E20X innovators will pitch their business concepts to a room of HITEC Europe delegates and a panel of judges. At the conclusion of the competition, the E20X judges will determine the winner of the "E20X Judges' Choice Award" grand prize of EUR2,500. The second prize is the "People's Choice Award," which is determined by popular vote through the event mobile app, concluding on the last day of HITEC Europe on April 11. Attendees will have the opportunity to learn more about the technologies by visiting with the participating startups in the E20X Innovation Lab located on the Mezzanine level in the HITEC Europe exhibit hall.The morning of the competition, E20X mentors will meet face-to-face with the entrepreneur competitors. The mentor session before the competition gives the mentors the chance to share their experience, answer questions and make invaluable connections with the E20X participants.The 2019 E20X Europe pitching companies include:TriftHotelwayOakyPirsonalLounger LoggerStayTravletYou're Welcome AppFor more information about E20X, email e20x@hftp.org. In addition to HITEC Europe, two other HITEC events are scheduled for 2019: HITEC Minneapolis on June 17-20 in Minneapolis, Minnesota USA; and HITEC Dubai on November 12-13 in Dubai, UAE.

HFTP Partners with the Young Hoteliers Summit: 10th Edition

20 March 2019
Hospitality Financial and Technology Professionals (HFTP(r)) is proud to partner with the Young Hoteliers Summit (YHS) Global 10th Edition, which will be held March 25-27 at the Ecole hoteliere de Lausanne in Switzerland.Aiming to narrate the hospitality industry's success stories and create a roadmap for future industry leaders, this year's anniversary edition theme is titled: "The Scope of Hospitality: Envisioning -- Defining -- Succeeding." The event will feature five powerful, inspiring keynotes and five insightful panel discussions over three days.Keynote speakers for the 10th Edition include Olivier Bracard, Co-Founder and CEO of Hosco, and Tess Mattisson, Director or European Marketing at Choice Hotels. Panel discussion topics will include "Disrupting Distribution: Game-Changers," "Global Brand Expansion: Adaptation and Development" and "Seizing Top Tech Opportunities: When Data Is Everything."Meet top professionals from the industry and delegates from more than 40 hospitality management institutions from all around the world.Find out more about the YHS 10th Edition and purchase your ticket.

HFTP Club Summit 2019 Presents Latest Industry Trends and Challenges to Club Professionals

19 March 2019
More than 140 club professionals traveled to Nashville, Tennessee last week to attend the second annual HFTP Club Summit. The event was held March 11-12, 2019 at the DoubleTree by Hilton Nashville Downtown. The Club Summit offers two days of advanced-level education specific to the club segment of the hospitality industry addressing strategies, trends and engagement.This year, the educational program explored club governance and effective leadership strategies, employee engagement, key performance indicators, capital planning, audit best practices, club management software reengineering/replacement and more. Attendees enjoyed several opportunities for networking with one another and visiting with event sponsors offering the latest products and services relevant to today's club. Those with certification requirements were able to earn up to 12 hours of continuing education by attending education sessions.The feedback from this year's attendees has been very positive. See what they have had to say:"This was one of the best conferences I have attended. Having all of the sessions focused on clubs ensured that the topics would be relevant to me.""If you have a question or a problem in your career at a club, bring it to HFTP's Club Summit. There will be someone there that has faced it and can offer a solution.""I think the one-on-one [interaction] is crucial, especially if you do not have that locally.""Club Summit is a tightly-focused educational program that delivered 100 percent relevant material and brought together colleagues in a setting that maximized the opportunity for information-sharing."Learn more about the HFTP Club Summit by visiting www.hftp.org.

Final Details: HFTP London Educational Event, March 14

13 March 2019
Meet with HFTP representatives and London-area hospitality professionals for an evening of education and networking. Learn about the key benefits that HFTP provides to its members and meet with individuals who have similar professional interests. An educational presentation will be presented as part of the programme.The event will be held at the luxurious Rosewood Hotel London, which is an Edwardian Grade II-listed building that has been sensitively renovated to create a luxury hotel with the ambiance of a stylish London residence.Event Details: When: March 14, 2019 Where: Rosewood Hotel London / Salons 3, 4 and 5 / 252 High Holborn, London Host: Carl Weldon, Chief Operating Officer, HFTP EuropeAgenda: Arrivals and Networking starts at 18:00 Presentation and Information starts at 18:30Event Speakers: Carl Weldon, COO Europe | HFTP Introduction Sarah Duignan, Director of Client Relationships | STR Global A Review of Worldwide, European and U.K. Performance Statistics and Trends Andrew Evans, CEO - Keystep Solutions | Event Sponsor What Roadmap? "Where are the multitude of new ideas and technologies taking hospitality? Are they helping or just overwhelming IT Departments with more and more projects to deliver?" Adam Blake, CEO | ThreatSpike Labs Exploring InfoSec in a Hospitality Environment! "What does this mean?? How we view data security with a fresh pair of eyes! Threat hunting like you've never seen before."Please RSVP as space is limited.Thank you to the event sponsor: Keystep Solutions and Transputec/ThreatSpike.

HFTP Sells Out Exhibition for Upcoming HITEC Europe 2019 in Palma, Mallorca, Spain

12 March 2019
Hospitality Financial and Technology Professionals (HFTP), an international nonprofit association and producers of the Hospitality Industry Technology Exposition and Conference (HITEC), has sold all exhibit spaces for the upcoming HITEC Europe 2019. A floor plan with a list of participating companies is available on the HITEC Europe website. HITEC Europe will take place from April 9-11 at the Palau de Congressos in Palma, Mallorca, Spain.For companies who were not able to reserve a booth in time, a waiting list for booth space is available with placement given on a first-come, first-served basis. HFTP also offers exhibitor supporter packages for non-exhibiting companies, which grants access to many of the same perks HITEC exhibitors receive - the next best thing to having a booth. Exhibitor supporters receive two full conference registrations, recognition in the HITEC mobile app, as well as recognition at the conference."HITEC Europe in 2019 will be located in the premiere travel destination of Palma, Mallorca a locale with hundreds of hotels and headquarters to numerous hospitality companies," said Carl Weldon, HFTP COO - Europe. "Not only is the island a draw due to its large hospitality market, but the program for HITEC Europe will be a cannot miss event for industry professionals who are involved in the technology operations at hotels, resorts and more."HITEC Europe 2019 brings together thought leaders, practitioners and vendors to cover hospitality technology trends and practices. A highlight to the program is the keynote presentation on Wednesday, April 10 by award-winning futurist Rohit Talwar. Talwar is an entrepreneur and specialist advisor on business transformation, disruptive strategies and radical innovation. Profiled as one the top 10 global future thinkers by the Independent newspaper, his controversial and inspiring keynote speeches enable teams to think differently, act fast and be first to the future.For exhibiting companies, sponsorship opportunities are available for companies to stand out and have their organization name seen by the thousand plus attendees before and after the show. See which opportunities are available and download the marketing kit by visiting the event website.For more information about supporter packages, contact HFTP Sales and Accounts Manager Matt Chambers at matt.chambers@hftp.org or +1 (512) 220-6443.HITEC Europe will be the first of three HITEC events in 2019. The larger HITEC Minneapolis will take place June 17-20 at the Minneapolis Convention Center in Minneapolis, Minnesota USA. HITEC Dubai will take place in November 12-13 at The Festival Arena by Intercontinental at Dubai Festival City in Dubai, UAE.

New CHAE and CHTP Designees: Quarterly Update (Nov. 2018 - Feb. 2019)

11 March 2019
The following individuals passed the exam for the Certified Hospitality Accountant Executive (CHAE(r)) and the Certified Hospitality Technology Professional (CHTP). Click here to learn more about HFTP's certification programs.New DesigneesNovember 2018:Susan Black, CHAE * Director of Finance * Wyndham Orlando Resort Bonnet Creek * USARobert Krueger, CHAE * Director of Finance * Transition * USADennis Villegas, CHAE * Revenue Audit Manager * Rosen Hotels & Resorts * USAAlicia White, CHAE * Controller * HRT Solutions * USAMax Starkov, CHTP * Founder and Director * HEBS Digital * USADecember 2018:Karim Mahmoud Abdel Halim, CHAE * Financial Controller * Corp Hotel * Saudi ArabiaScott der Boghhossian, CHAE * Supervisor * Condon O'Meara Ginty & Donnelly * USADebbie Formica, CHAE * Assistant Controller * The Club at Mediterra * USAJanuary 2019:Emily Contardi, CHAE * Controller * Spring Lake Golf Club * USAKe (Freemen) Deng, CHAE * Director of Operations * Jinmao Hotel * ChinaIndika Ranasinghe, CHAE * Financial Controller * Sunny Hospitality Management * USAChristopher Skaggs, CHAE * Assistant Controller * Hotel Valley Ho * USARunhong (Renee) Zhang, CHAE * Director of Finance * Jinmao Hotel Management * ChinaFebruary 2019:Angela Lee, CHAE * Accounting Manager * Terranea Resort * USAWhy Get Certified?Elevate your professionalism and demonstrate superior industry performance. Active certificants have reported higher salaries and various career advancement opportunities. Becoming certified indicates that you are committed to professionalism, continuing education and your chosen career path. HFTP offers the only designations for finance and technology professionals who are working in the hospitality industry. How HFTP Certification Can Advance Your Career>Certification Advisory Program (CAP)HFTP launched the Certification Advisory Program (CAP) to assist CHAE and CHTP certification applicants in achieving their HFTP certification designation. The program brings together both candidates and advisors, who will help and support candidates in one-to-one interactions, as a supplemental review option for the certification exams. Learn More>About HFTP CertificationsHFTP administers the examination and awards the certification for the Certified Hospitality Accountant Executive (CHAE) and the Certified Hospitality Technology Professional (CHTP) designations. 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. Find out how to apply as well as exam information, study guides, check lists and much more by visiting HFTP's website at www.hftp.org (click "Career Development" at the top).Questions?For questions or more information on HFTP's certification programs, contact HFTP Certification Manager Robin Bogdon at robin.bogdon@hftp.org or +1 (512) 220-4021.

2019 Dates Announced for HITEC Dubai

1 March 2019
The next edition of HITEC Dubai, hosted in partnership by HFTP and Naseba, will be held on November 12-13, 2019. This event is set to expand by over 30 percent with a larger venue -- the Festival Arena in Festival City Dubai.With 2500+ attendees including hoteliers, resorts, airlines, management companies, travel agents and restaurants, HITEC Dubai is considered the must-attend hospitality technology exhibition and conference in the Middle East and North Africa (MENA) region for 2019.Over 15 MENA nations will be representing their technology decision-makers at the conference including CIOs, CTOs, COOs and CEOs from growing regional and international hospitality brands.The format of HITEC focuses on thought leadership, business meetings and technology demonstrations. Over 100+ leading technology-enabling companies will showcase their products and solutions. If you want to do more business in the MENA region or are simply looking to explore expansion there, plan to attend HITEC Dubai this November.Request More Information

Attend Upcoming Event Hosted by the HFTP New England Hotel and HFTP New England Club Chapters

1 March 2019
Later this month, the HFTP New England Hotel and New England Club chapters will host an event to network with HFTP members and hospitality professionals.HFTP Global Chief Operations Officer Lucinda Hart, CAE, MBA will present the HFTP Global Update. All area HFTP members are invited to attend, learn what is happening around the world with HFTP, the future direction of HFTP and what value the association brings to members. March 13, 2019 Begins 6:00 p.m. EST6:45 p.m. program start, 7:30 p.m. dinner Location: The Seaport HotelOne Seaport Lane, Boston, MA 02210To attend, please send your RSVP.

HFTP Past President Ralph Miller to Present Asset Management Master Class at IHIF

26 February 2019
HFTP Past President Ralph R. Miller CPA, CA, CBV, CHA, CHAE, president of Inntegrated Hospitality Management will be presenting an Asset Management Master Class at the International Hotel Investment Forum 2019 in Berlin. Representing HFTP, Miller will lead the session, "Convergence of Accounting Principles & Operations Reporting; Implications/Benefits for Asset Managers," which runs from 2:00 - 2:50 p.m. on March 5. In the presentation he will discuss the Uniform System of Accounts for the Lodging Industry, 11th Revised edition. Miller is a member of the AH&LA Financial Management Committee, which oversees the revisions of the reference book, making him well-versed on the guidance within the USALI.The IHIF 2019 conference program will look at new growth strategies for all stakeholders, whether they are to be found in traditional markets, emerging destinations, improved asset management or operational strategies, or alternative lodging concepts. Over three days, the event will bring together over 2,300 leaders of hospitality investment from 80 countries to share their expertise, meet new partners and make deals. It runs from March 4-6 in Berlin, Germany.

Meet Minneapolis: Travel to the Twin Cities this Summer for HITEC 2019

14 February 2019
We all know that travel can be a real hassle. So, what about a trip makes it worth packing up your suitcase, saying goodbye to your family for the next few days, fighting the airport and staying in a strange city?

HITEC Minneapolis Online Registration and Housing Bureau Open; Opening Keynote Session Announced

7 February 2019
Hospitality Financial and Technology Professionals (HFTP), producers of the world's largest Hospitality Industry Technology Exposition and Conference (HITEC), has announced that attendee registration for its HITEC Minneapolis is now available online, as well as hotel reservations. Annually, HITEC highlights the industry's tech trends and current approach to integrating technology into the hospitality sphere. To set the tone on the first day, award-winning futurist Chris Riddell will present the Opening Keynote, "Beyond Tomorrow -- The Human Revolution." HITEC Minneapolis will be the second, and largest, HITEC event of 2019 and is from June 17-20 at the Minneapolis Convention Center in Minneapolis, Minnesota USA."Annually HITEC provides industry professionals a comprehensive viewpoint on hospitality technology and global business trends, with multiple inputs that offer an extensive understanding on the direction the industry is moving," said HFTP CEO Frank Wolfe. "The education program, exhibition and networking opportunities all deliver an attendee the prospects to find the solutions they are looking for."The Opening Keynote will be presented in the afternoon on June 17, 2019 by Chris Riddell. He is an award winning global futurist and industry recognized inspirational keynote speaker on emerging trends in our hyper connected world. Riddell is a global pattern hunter, discovering and identifying how humans are changing and adapting to high speed change, unlocking insights for businesses and leaders in today's highly disrupted digital world.HITEC Minneapolis has scheduled a full education program planned by the HITEC Minneapolis Advisory Council, a group of industry practitioners and experts. The council is co-chaired by Shannon Knox, vice president of IT Field Services and Strategic Sourcing at Hilton and Justin Taillon, Ph.D., professor and department head at Highline College. The exhibit hall hosts over 350 companies displaying a range of products and services to support the hospitality technology industry.In addition to HITEC Minneapolis, in 2019 HFTP will bring back its two, regional conferences: HITEC Europe and HITEC Dubai. HITEC Europe will take place from April 9-11 at the Palau de Congressos Centre in Palma, Mallorca, Spain. HITEC Dubai will take place in the fall. For more information about HITEC and HFTP's other international activities, contact the HFTP Meetings & Special Events Department at education@hftp.org or visit www.hftp.org and www.hftp.org/hitec.

HFTP Global Past President Arlene Ramirez to Present at HFTP Los Cabos Chapter Meeting

6 February 2019
This month, the HFTP Los Cabos Chapter will have a special guest speaker: HFTP Global Past President Arlene Ramirez, CHAE, CHE, CHIA, MBA. Ramirez will be presenting an update on HFTP Global initiatives. She will cover what HFTP is doing around the world with HFTP, the future direction of HFTP and what value the association brings to members.All area members are invited to attend. Here are the details:Friday, February 15, 2019 | 7:30 p.m. Playa Grande ResortAv. Playa Grande no. 1 Col. CentroCabo San Lucas, BCS, Mexico, 23450Meeting Room: AuditorioTo attend, send an RSVP.

HFTP Welcomes New Scholars to Middle East Research Center

5 February 2019
Hospitality Financial and Technology Professionals (HFTP) is pleased to continue its partnership with the Emirates Academy of Hospitality Management (EAHM) through the addition of two new scholars to its Middle East Research Center: Mercy Kiprotich and Vladan Pantelic. The HFTP Middle East Research Center, along with the HFTP Americas and Asia Research Centers, are an essential component of HFTP's initiative to provide members with quality new resources and information that advance the global hospitality industry. Kiprotich and Pantelic are currently pursuing their master's degrees and will be delving into research that provides new insights in hospitality management in the United Arab Emirates. Both scholars were carefully selected by EAHM, and will conduct their research under the supervision of Dr. Sanjay Nadkarni, Ph.D, Director of EAHM's Innovation and Research Center.Leading up to their graduate school careers, both Kiprotich and Pantelic boast impressive backgrounds in the industry. "We are fortunate to have Mercy and Vladan join the HFTP Middle East Research Center," said HFTP CEO Frank Wolfe, CAE. "While their futures are bright, their prior industry experiences alone have set them apart from their peers. As research scholars, their contributions will help HFTP advance industry knowledge."Prior to her studies, Kiprotech worked extensively in hospitality, building her international, hands-on experience in event planning, sales performance analysis, and property management. As a graduate student, she is diving into her thesis investigating how Dubai hotels are beginning to leverage blockchain technology.Pantelic, who has vast experience in operations with Jumeirah Hotels & Resorts, will use his knowledge to focus his thesis on the selection of key performance indicators by hotel management in the UAE. HFTP will provide a platform for the dissemination of the scholars' findings through whitepapers and blogs.

Visit with HFTP Global at the 2019 CMAA World Conference and Club Business Expo

4 February 2019
HFTP will be at the upcoming 2019 CMAA World Conference and Club Business Expo on February 24-28, 2019 in Nashville, Tennessee USA. The event offers a robust educational programming with sessions on hiring, marketing, food and beverage, finance, member relations and more.Come by HFTP's booth #826 at the Club Business Expo and visit with HFTP Global representatives to discuss your career needs or those of your staff and how HFTP membership can help.

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