Omni Louisville Hotel - President Timothy G. Nauss, CHAE welcomed the members in attendance and called the Annual Business Meeting to order on October 26, 2018 at 9:16 a.m. Eastern Time.
President Timothy Nauss, CHAE introduced the 2017-2018 Executive Committee and Board of Directors. President Timothy G. Nauss, CHAE, recognized the directors who completed their terms in 2018 and thanked them for their service. Outgoing plaques were presented to: Director Cindy Estis Green, Director Sherry Marek, Director Kaeko Shirasu-Bailey and Executive Advisor Jill Burnett, CHAE, CPA.
HFTP CEO Frank Wolfe, CAE, gave tribute to Immediate Past President Lyle Worthington, CHTP. Wolfe highlighted that during Worthington's term as Global President, he was a disrupter and was instrumental in lending his expertise to assist HFTP in developing the Entrepreneur20X competition. Wolfe noted that under Worthington's leadership, HFTP expanded the HITEC brand internationally. Wolfe also noted that Worthington was instrumental in setting the stage for young professionals to get involved in HFTP. Wolfe presented Worthington with a plaque honoring his service and dedication to HFTP.
HFTP Global Secretary, Mark Pate Sr., CHAE, CHTP, MBA, announced the minutes for the 2017 Annual Business Meeting held in Orlando, Florida, USA. Pate referred members to the 2017 Annual Convention Meeting Minutes that were posted on HFTP News and called a motion to approve. A motion was made, seconded and carried to approve the 2017 Annual Business Meeting minutes as presented.
Treasurer Michael Levie, CHTP, delivered the Treasurer's Report for the fiscal year that ends October 31, 2018. Levie informed the members to the anticipated operational revenue for the fiscal year ending October 31, 2018, will be approximately $8.44 million and operational expenses of approximately $8.81 million. Levie, commented on predicted realized gain of $140,000 and unrealized loss on investments of $10,000 resulting in a Net Expense of approximately $240, 000 for the year.
Levie informed members that the HFTP Global Board of Directors approved the 2018-2019 operational revenues of approximately $8.97 million and operational expenses of approximately $9.25 million, for a net expense of approximately $280,000. Levie also informed the members that it has become necessary for HFTP to increase its annual membership dues to $415. Levie noted that this has been the first increase since 2013.
Vice President Scot Campbell, CHTP, mentioned some of HFTP's initiatives for 2019 including that HFTP will maintain the premier conferences next year, including HITEC Europe in Mallorca, HITEC North America in Minneapolis and HITEC Dubai; the CIO/CFO Events with HITEC Europe, two Entrepreneur20x competitions; the Annual Convention; the Club Summit; Club & Hotel Controllers Conference; the Club Forum; and the Hotel Financial Executive Exchange. Campbell noted that in addition, the Chapter Leadership Summit will return to the schedule as a bi-annual event. Campbell highlighted that HFTP's online education will continue with a strong line-up of ProLinks webinars with monthly offerings.
Campbell also informed members that HFTP Global will continue to provide important, custom content and research reports through its news sites: HFTP News, HITEC Bytes, Club Bytes, Finance Bytes, F&B Bytes and GDPR Bytes; as well as regularly published insight on the HFTP Connect blog.
President Timothy Nauss, CHAE started his report thanking his fellow HFTP Global Executive Committee members for their guidance, dedication and efforts. He also thanked HFTP members, the 2017-2018 Global Board of Directors, and HFTP CEO Wolfe and his staff for their support during his term as HFTP President.
Nauss spoke about his trajectory during his term and highlighted some accomplishments, including: HFTP's commitment to cybersecurity research and its swift, prolific response to GDPR enacted in May. Nauss mentioned the vigorous commitment to scholarships for students in hospitality. Another achievement was the proactive campaign to engage young hospitality professionals at major events like HITEC and Annual Convention through specially-designed council work.
HFTP CEO Frank Wolfe, CAE thanked the Annual Convention attendees and took a moment to recognize the HFTP Global staff for their hard work and dedication. Wolfe gave his report on the success of the association over the past year, and recognized and thanked Nauss for his services to HFTP.
Wolfe announced the achievement that HFTP purchased the intellectual rights for the Uniform System of Accounts for the Lodging Industry (USALI). Wolfe announced the redesign of PineappleSearch.com and highlighted the following: the results of the Forrester Report, the USFRC publication, the IHG Partnership, the HFTP Chapter funds increase and the certification programs. Wolfe discussed future reports, research, advisory councils and various task forces.
Wolfe concluded his report by thanking HFTP members and recognized the hard work of the 2017-2018 HFTP Global Board of Directors.
Immediate Past President Lyle Worthington, CHTP discussed the Nominating Committee process. Worthington noted that the Nominating Committee met May 2018 in Dallas, Texas, USA. Worthington encouraged members to apply.
Worthington called upon Secretary Mark Pate Sr., CHAE, CHTP, MBA to elect the 2018-2019 Board of Directors and the Executive Committee.
In accordance with Article X, Section 3, of the HFTP bylaws, Pate cast the single ballot for the 2018-2019 slate of directors, and declared the individuals mentioned below as duly elected. The uncontested slate of Board of Directors includes:
In accordance with Article X, Section 3, of the HFTP bylaws, Pate cast the single ballot for the 2018-2019 slate of officers, and declared the following individuals as duly elected to the HFTP Executive Committee:
Pate informed the members that the Executive Committee would be installed later that night at the HFTP Annual Tribute to Success.
There being no further business, a motion was made, seconded, and carried to adjourn the meeting at 9:50 a.m.
Hospitality Financial and Technology Professionals (HFTP)
6500 River Place Blvd Building 2, Suite 101
Austin, TX 78730
Phone: +1 (512) 249-5333
HFTP Executive Services Administrator
Phone: +1 (512) 220-6449