Brandt Hospitality Group Getting Great Results From Accounting Software Partner
Aptech | June 5, 2024
Hospitality Financial Leadership: Why Prioritizing Employee Development Has the Best ROI for Owners Too
David Lund | March 27, 2023
Finance
What Hotels of Tomorrow Can Learn From the Airbnb’s of Today
Alan E. Young | April 24, 2018
By Alan E. Young The travel and lodging industry has evolved into an undeniably exciting space. Rife with new technology, aesthetically impressive social media pages acting as travel inspiration for millennials and a rise in boutique accommodations. This change and ensuing competition are continuously on the horizon. This competitive landscape stretches between hotels brands as well as between hotels and non-traditional accommodation models, such as Airbnb. With both service models existing within the same industry and catering to similar guest demographics, there is a wealth of experiential knowledge to be shared/gained as they strive ...
HFTP Announces 2018 CHTP of the Year Recipient
HFTP | April 24, 2018
Sean Van Dyke, CHTP of St. Julien Hotel and Spa will be honored at HITEC Houston this June Hospitality Financial and Technology Professionals (HFTP®), will honor Sean Van Dyke, CHTP as the 2018 Certified Hospitality Technology Professional (CHTP®) of the Year at HITEC Houston 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 Houston, HFTP's second and largest HITEC of 2018, will take place from June 18-21 at the George R. Brown Convention Center in Houston, Texas USA. Van Dyke works as a director of IT at St. Julien Hotel & Spa, a...
North American Hoteliers Spring Into Second Quarter of 2018 With Continued Growth
TravelClick | April 24, 2018
Strong Group Travel Drives Increases in Rates and Bookings NEW YORK – April 24, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's April 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are experiencing continued growth in the second quarter of 2018, with bookings up 2.7 percent and average daily rates (ADR) up 2.5 percent across all travel segments. Driving much of this growth is group travel, up 7.5 percent in bookings, 3.8 percent in ADR and 11.6 percent in revenue per available room...
Hospitality Financial Leadership: Fixed/Variable Costs and Room Revenue Management
David Lund | April 23, 2018
By David Lund Lately, I have spoken to several revenue managers who have told me how much their cost is to take a room—to make that last sale of the day. What I heard concerns me because it tells me some people do not understand the fixed vs. variable components of payroll and expenses in their hotels. Quite simply put, one revenue manager told me his cost to take a room in his hotel in NYC was $290. "What?" I exclaimed over the telephone. "Yes, that's the cost." To which I replied, "That's the total cost of all your expenses, both fixed and variable?" Silence ensued for a moment and I said, "Let's slow things down and look at the...
Avison Young Hospitality Group Releases Timely Video Discussing Q2 Hospitality Trends
Avison Young | April 23, 2018
ATLANTA – April 23, 2018 – The Avison Young Hospitality Group recently released its second-quarter video on the state of the hospitality market. In the video, Keith Thompson, principal, Avison Young, discusses current trends, whether public or private hotel owners should hold, sell or refinance their asset and why the opportunity to make a move is now. For additional information about The Avison Young Hospitality Group, visit hospitality.avisonyoung.com. ...
Rainmaker Expands Business Operations in the Middle East and Africa by Adding Hicham Diab to Dubai Office
Rainmaker | April 23, 2018
ALPHARETTA, GA – April 23, 2018 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced the expansion of its Middle East and Africa (MEA) operations by naming Hicham Diab as regional director of business development MEA. Rainmaker currently provides solutions and services to several international hotel organizations in the region, including Kerzner International and Mövenpick Hotels & Resorts. Rainmaker's decision to add a regional director of business development will further enhance its service capabilities to both current and prosp...
Who Will You See at Meet the Money?
Jim Butler | April 19, 2018
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 18 April 2018 - It's almost May, so our annual Meet the Money® Conference is almost here! JMBM's Global Hospitality Group® will host the 28th year of our national hotel finance and investment conference May 7-9, 2018 at the Hyatt Regency LAX. This must-attend event gives you access to plenty of efficient networking and the latest insights into industry trends and strategies. The industry's top hotel owners, developers, operators, brands, investors, lenders, and other capital providers come together every year at Meet the Money to ...
Total Revenue Management- The Journey from Capacity to Profit Management
Bespoke Revenue Management | April 18, 2018
It is a fact that over the last years, we have seen a growing need for traditional revenue management (RM) to evolve from having sole emphasis in optimising revenue mainly from room sales, towards adopting a more holistic view and focusing on achieving profit maximisation across the whole organisation. The latest developments in technology and added pressure in the market have advanced RM to acquire a strategic and proactive planning role with emphasis in maximising all components of the customer journey, instead of being utilised as a short-term reactive solution. This brought forth the idea of Total Revenue Management – a concep...
The True Essence of Hotel Revenue Management
Dan Skodol | April 17, 2018
By Dan Skodol In 1972, an employee of British Overseas Airways Corporation by the name of Ken Littlewood provided the genesis of what has become today's revenue management (RM) discipline. He established "Littlewood's Rule," a yield management rule that addressed revenue maximization by proposing that discounted fares be accepted if their revenue value exceeded anticipated revenue from the expected value of full-fare tickets. Littlewood's algorithm led to experimentation with "fenced" pricing and a forecasting system based on seat inventory. Airlines also tried to fill as many seats as possible by predicting how many booked passengers w...
MDM Hotel Group Adds Aptech’s Execuvue® Business Intelligence System to Its Suite of Financial Tools
MDM Group | April 17, 2018
Award-Winning Operator Implements Execuvue BI Solution; Automatically Integrates Data from PMS, Timeclock and Aptech's Accounting and Budgeting/Forecasting Applications PITTSBURGH – April 17, 2017 – Aptech Computer Systems announced Miami-based MDM Hotel Group implemented the Execuvue Hospitality Business Intelligence System to automate data gathering, performance reporting and analysis for its portfolio of hotels. MDM is a respected developer that operates full service Marriott and independent properties and commercial businesses in South Florida. Aptech is the leading provider of business intelligence, budgeting and forec...
Factors Driving Hotel Wellness, Asset Management and Revenue
Mia A. Mackman | April 17, 2018
By Mia A. Mackman This article reveals how spa and wellness aspects are disseminated throughout the whole guest experience, and how wellness motivated design and construction elements complement property development, enhance marketability and engagement and is spurring new growth across the hospitality sector. This article also examines how critical management adjustments, and product and service enhancements can significantly add value, increase RevPAR and improve average daily rate performance. Built-In from the Ground Up Hotel design aspects have lined up with wellness construction counterparts and evolved into a thriving wellness-...
Hospitality Financial Leadership – Catch Me If You Can: It’s a Game of Confidence
David Lund | April 16, 2018
By David Lund Frank Abagnale is arguably the world's most famous modern-day impostor. Leonardo DiCaprio played his character in the 2002 movie directed by none other than Steven Spielberg, with the same title as this piece. The movie was based on the 1980 book that Frank wrote. I am writing about Frank Abagnale because I had the pleasure of meeting him personally, and experiencing his trickery, just a little. Also, there is a direct link between what his story is all about and your own financial leadership journey. If you have not seen the movie, watch it. Tom Hanks plays the lawman chasing after Frank and it is a wild ride. The book is...
Hospitality Experts Gather for HFTP’s Second European HITEC
HITEC | April 16, 2018
European counterpart of HFTP's HITEC education stellar, exhibitor experience disappointing In its second year, Hospitality Financial and Technology Professionals (HFTP®) European HITEC® was held last week where top industry experts exchanged knowledge geared toward shaping the future of hospitality globally. Discussions were held on the hottest topics in the industry – artificial intelligence, voice recognition, data science, robotics, customer journey and the EU GDPR. Over 100 companies displayed the latest in available hospitality technology products available around the globe. Kicking-off the event was HFTP's Entrep...
HFTP Shares Dates and Location for Second Annual HITEC Dubai
HITEC | April 11, 2018
Save the date for December 5-6, 2018 at the Madinat Jumeirah in Dubai, UAE Building on the expertise of planning and producing the world's largest hospitality technology show, Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), will host HITEC Dubai 2018 from December 5-6, 2018 at the Madinat Jumeirah in Dubai, UAE. Produced in partnership with Naseba, HFTP's HITEC Dubai will serve as the association's third and final HITEC of 2018. The event is a Middle Eastern counterpart to the tremendously successful annual HITEC which brings...
Infor EzRMS Mobile App Enables Revenue Management on the Go
Infor | April 10, 2018
New Application Provides Ultimate Flexibility for Hospitality Industry NEW YORK - Apr 10, 2018 - Infor, a leading provider of industry-specific cloud applications, today announced the availability of Infor EzRMS Mobile as part of the company's overall portfolio of Hospitality Revenue Management Solutions. The application, available through Google Play™ Store and Apple App Store, enables users to stay on top of their business by providing critical information on mobile devices. It provides the right information at the right time so hoteliers can analyze trends and make pricing decisions on the go. Infor EzRMS Mobile provides a ...
Hospitality Financial Leadership – Management Incentive Plans
David Lund | April 9, 2018
By David Lund Recently I have been working with a client who has four hotels and we worked on putting together an incentive plan for his executives. This is a story about how we structured the incentive and the goals around the plan and his business. Bonus plans or management incentive plans are nothing new. Even a recent client had almost always given his senior people an annual bonus, typically at the holiday time. When I asked him what it was based on, he said it was just the overriding feeling of his thanks for a job well done. We then discussed the very real fact that he had not shared his financials with his leaders and this was s...
Hospitality and Financial Technology Professionals (HFTP) to Develop Joint Program for Students of the NYU School of Professional Studies
the NYUSPS Jonathan M. Tisch Center for Hospitality and Tourism | April 2, 2018
AUSTIN, TEXAS, USA (April 2, 2018) — Hospitality Financial and Technology Professionals (HFTP®) is pleased to announce the joint development of a new program with the NYU School of Professional Studies (NYUSPS ) Jonathan M. Tisch Center for Hospitality and Tourism, which provides the students with the opportunity to prepare for their HFTP Certified Hospitality Technology Professional (CHTP ®) designation. The program, which is expected to launch in the 2018-2019 academic year, will include HFTP-approved CHTP information in the School's 14-week class syllabus. A faculty advisor, who has attained and maintains the CHTP c...
Hospitality Financial Leadership – The OTA Distraction – Pushing Rather Than Pulling
David Lund | April 2, 2018
By David Lund You cannot go a day online in the hotel community without seeing a ton of OTA related discussion. Hoteliers are like scared kittens when it comes to how they have been treated by the evil empire that the "On-Line Travel Agencies" has created. There is no doubt that the OTAs have dramatically changed the landscape in the last 20 years since Expedia bounced into the world under the strict parenting of Microsoft. In this piece, I want to offer a different perspective—one based on a different view of the OTA revenue creation and resulting costs. I also want to look at and analyze some black and white revenue and profit f...
HITEC Amsterdam 2018 Entrepreneur 20X Participants and Judge’s Panel Announced
HITEC | March 29, 2018
HFTP selected 11 hospitality technology startups and four expert judges for E20X Amsterdam 2018 Hospitality Financial and Technology Professionals (HFTP®), producers of Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce the selected hospitality technology startups and expert judges panel that will participate in Entrepreneur 20X (E20X) at HITEC Amsterdam next month. All registered HITEC attendees are welcome to attend the action-packed pitch competition taking place on Wednesday, 11 April 2018 beginning at 14:30 in the RAI Amsterdam Convention Centre. Participants will have access to a tea...
LaSalle Hotel Properties Board of Trustees Confirms Unanimous Rejection of Unsolicited Proposal from Pebblebrook Hotel Trust
LaSalle Hotel Properties | March 28, 2018
Grossly Inadequate Proposal Significantly Undervalues LaSalle and is Not in the Best Interests of Shareholders LaSalle Reiterates Confidence in its Ability to Deliver Exceptional Value to Shareholders Emphasizes Commitment to Previously Announced Share Repurchase Program Announces Dividend Policy for 2018 BETHESDA, Md. - March 28, 2018 - LaSalle Hotel Properties (NYSE: LHO) ("LaSalle" or the "Company") today confirmed that its Board of Trustees (the "Board") unanimously rejected an unsolicited proposal received on March 6, 2018 from Pebblebrook Hotel Trust (NYSE: PEB) ("Pebblebrook") to acquire all outstanding shares of LaSalle in...
Pebblebrook Hotel Trust Releases Letters to LaSalle Hotel Properties Proposing Merger
Pebblebrook Hotel Trust | March 28, 2018
BETHESDA, Md. - March 28, 2018 - Pebblebrook Hotel Trust (NYSE: PEB) ("Pebblebrook") today released two letters, dated March 6, 2018 and March 20, 2018, to LaSalle Hotel Properties (NYSE: LHO) ("LaSalle") in which Pebblebrook proposed a share-for-share merger. The proposal represented an implied merger price of $30.001 per LaSalle common share, representing a premium of 18.0% to LaSalle's trailing 10-day VWAP as of March 5, 2018, based on the proposed fixed exchange ratio of 0.8655 Pebblebrook common shares for each LaSalle common share. As of the close on March 27, 2018, the implied merger price was $29.952 per LaSalle common share...
WTTC Research Shows Travel & Tourism Responsible for Creation of 7 Million New Jobs Worldwide
WTTC | March 27, 2018
WTTC's annual Economic Impact Research, released today, shows that Travel & Tourism was responsible for the creation of 7 million new jobs worldwide. The report also shows that 2017 was a bumper year for the global Travel & Tourism sector, which grew at 4.6%, much faster than the economy as a whole (3% growth during 2017). Gloria Guevara, WTTC President & CEO said, "Travel & Tourism creates jobs, drives economic growth and helps build better societies. Our research shows that our sector was responsible for the creation of one in five of all jobs globally. In the last few years, Governments around the world are realising ...
HFTP Announces Exclusive CIO/CFO Event Sponsorship Agreement With Fourteen IP at HITEC Amsterdam
HFTP | March 27, 2018
AUSTIN, TEXAS, USA -- Hospitality Financial and Technology Professionals (HFTP®), an international nonprofit and producers of the Hospitality Industry Technology Exposition and Conference (HITEC®), is pleased to announce its exclusive CIO/CFO event sponsorship agreement with Fourteen IP Communications Ltd at the upcoming HITEC Amsterdam 2018. The invitation-only event that brings together CIOs and CFOs from leading hotel and hospitality companies from across Europe will take place on 11 April to kick-off HITEC Amsterdam, which is taking place from 11-13 April at the RAI Amsterdam Convention Centre. The CIO/CFO pre-conference eve...
Spring Hotel Outlook Shows Stability and Consistency in North American Markets
TravelClick | March 27, 2018
Strong Transient Booking Growth is Welcomed News for Hoteliers in Q1 NEW YORK – March 27, 2018 – TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the Company's March 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are continuing to see growth across all travel segments, up 0.7 percent in average daily rates (ADR) and 1.7 percent in bookings during the first quarter of 2018. This marks an ongoing positive trend from the beginning of the year. Transient travel in particular is experiencing solid growth in ...
