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
Shifts In Revenue and Expenses Improve Hotel Food and Beverage Profits
Robert Mandelbaum | November 20, 2017
By Robert Mandelbaum Consumer dining trends tend to be more volatile than lodging trends. Recognizing this, hotel managers have made some significant changes in the way they offer food and beverage service to their guests. The traditional three-meal, all-purpose restaurants and room service are disappearing. Taking their place are self-service kiosks and grab-and-go concepts that provide quick-service for in-house guests. These changes help explain recent changes in hotel food and beverage department revenues, expenses, and profits. To understand recent trends in lodging food and beverage sales, we analyzed the financial performance of ...
HFTP Builds Educational Campaign Ahead of GDPR Compliance Requirements
HFTP | November 20, 2017
Hospitality-specific discussion covered in free-to-industry webinar on Monday, November 20 With just over six months until the new EU General Data Protection Regulations (GDPR) are in effect, Hospitality Financial and Technology Professionals (HFTP®) is ramping up its education campaign to prepare the hospitality industry for compliance. The association initiated this drive last spring with the formation of the HFTP Hospitality Data Protection Officer (DPO) Task Force, a team of 23 experts developing compliance guidelines and resources specific to hospitality, including defining the role of the hospitality DPO. As part of its initia...
Aptech’s PVNG Web-Based Enterprise Accounting Goes Live at 2 Hotel Companies
Aptech Computer Systems, Inc. | November 16, 2017
Multi-Property, Multi-Brand Operators Standardize Accounting on Easy-to-Use PVNG PITTSBURGH – November 16, 2017 – Aptech Computer Systems announced Milestone Hospitality Management and Bellstar Hotels & Resorts implemented the PVNG enterprise accounting system. PVNG is Aptech's next generation enterprise accounting hotel software solution that is deployed in the cloud. Aptech is the leading provider of hospitality enterprise accounting, budgeting and forecasting, and business intelligence hotel software systems. Click here for more on Aptech's products and services. "Milestone selected PVNG because Aptech is a hospitalit...
HFTP Announces Global Industry Research Project by Forrester Group
HFTP | November 15, 2017
AUSTIN, TEXAS, USA (November 15, 2017) — The leaders of Hospitality Financial and Technology Professionals (HFTP®) used its inaugural HITEC Dubai to announce an extensive global research project today that will provide guidance on the state of the industry; provide existing industry stakeholders with additional resources, and enrich the association's understanding of financial and technology trends that will shape the industry's future. "HFTP has just celebrated its 65th anniversary as a not for profit association, and our leadership intends to offer this foundation and provide a platform for the industry to build...
Rainmaker Ends Q3 2017 with High-Growth Momentum
Rainmaker | November 15, 2017
Company wraps up quarter with 30 percent growth in number of customers year-over-year ALPHARETTA, GA – Nov. 15, 2017 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it ended the third quarter of 2017 with record-setting performance and growth, advancing its position as a global technology leader. Since July 1, Rainmaker has expanded its reach in both the number of customers and the number of properties using its groundbreaking solution suite, which include guestrev®, grouprev®, revcaster®, and revintel®. Year-over-...
IDeaS G3 RMS Gives New Revenue Opportunity to Resorts and Hotels with Component Room Optimization – an Industry First
IDeaS | November 14, 2017
Resorts and hotels with component rooms can now automate pricing decisions, reduce the burden of managing complex room types and tailor the guest experience Tweet this: @IDeaS_RevOpt #RevenueManagement system is first to allow hotels & resorts to automate component room pricing. www.ideas.com/about/news MINNEAPOLIS – November 14, 2017 – Though ubiquitous in resorts and hotels today, component rooms and flexible inventory are a tricky business for revenue managers. These unique rooms have traditionally required manual pricing and constant oversight – and are often undersold because of their complexity compared to s...
Hospitality Financial Leadership – Runnin’ Down a Dream
David Lund | November 13, 2017
By David Lund Yeah, runnin' down a dream - That never would come to me - Workin' on a mystery, goin' wherever it leads - Runnin' down a dream – Tom Petty In life we think dreams, big ideas and accomplishments are someone else's domain, but not ours. We think those people are special, gifted, magical. They were the ones who were chosen for that higher calling to be that explorer, the writer or the leader that made a difference and really had something special to do and share with the world. Well, that is not true. We all have that something and it is right there, inside of us and we can see it, feel it and we know i...
HFTP and Naseba Set Final Details for Inaugural HITEC Dubai Event
HITEC Dubai | November 9, 2017
International association Hospitality Financial and Technology Professionals (HFTP®), in partnership with Naseba, are bringing the world's largest and oldest Hospitality Industry Technology Exposition and Conference(HITEC®) brand to Dubai, UAE for the first time. HITEC Dubai will take place from November 14-15, 2017 at the Conrad Dubai in Dubai, UAE – serving as the third HITEC of 2017. HITEC Dubai is accessible to buyers from the lucrative Middle Eastern tourism and hospitality market, currently worth over $75 billion USD. Modeling the HITEC Amsterdam format, the show will offer an education program, exhibits as well ...
Puzzle Partner and HEDNA Join Forces to Deliver Quality Content for the Hotel Industry
Puzzle Partner | November 9, 2017
Agency offering marketing expertise for travel and hospitality technology market engaging with HEDNA to deliver and promote educational resources for HEDNA members and the hotel industry at large. TORONTO, ON (November 9, 2017) – Leading travel and hospitality technology marketing agency Puzzle Partner, today announced their latest alliance with HEDNA, a global forum dedicated to the advancement of hospitality distribution anchored by a fundamental belief in strategic collaboration and knowledge sharing. HEDNA is making bold moves to lead the category and is looking to Puzzle Partner to support their initiatives and help take the ...
Asset-Managing the 2018 Budget Story
Gary Isenberg | November 9, 2017
By Gary Isenberg As summer tumbles into fall, hotel asset managers grapple with the annual challenge of reviewing and approving budgets for their hotel or hotels. As they leaf through page after page of a budget submitted by management and cobbled together with input from all facets of hotel operations—from housekeeping and food and beverage to maintenance and marketing—asset managers ought to look beyond the spreadsheets and revenue projections to conclude whether they are reading a great story. In the case of a hotel budget, the tale being told is that of the asset's revenue goal for the coming year and how it will achieve...
IDeaS Learning System Recognized With Gold Award From Learning & Development Research Firm Brandon Hall
Brandon Hall Group | November 8, 2017
Comprehensive update to integrated learning tools and seamless client delivery receives praise from Brandon Hall Group Tweet this: New #hotelrevenue mgmt training platform from @IDeaS_RevOpt gets Gold from @BrandonHallGrp www.ideas.com/news MINNEAPOLIS – Nov. 08, 2017 – The adoption of software tools and technologies for revenue management and hotel data analytics continues to grow within the hospitality segment, helping hoteliers uncover opportunities to grow revenue and improve the guest experience. But, these tools aren't effective without the skilled employees and managers who oversee and rely on them every day. That's w...
HFTP’s 2017–2018 Global Executive Committee and Board of Directors Begin Term
HFTP | November 7, 2017
The new HFTP Global Board was installed during the association's 2017 Annual Convention The 2017-2018 Global Executive Committee and Board of Directors for Hospitality Financial and Technology Professionals (HFTP®) have officially begun their term. The association leaders represent a wide variety of segments within the hospitality industry, including: clubs, consulting, hotels, finance, technology and more. The HFTP Global Board volunteers its time and professional expertise to help guide and progress the association to the forefront of the industry as it carries out its strategic plan. The HFTP Global Board is the primary decision-...
Sonnenblick-Eichner Company Arranges the Sale of the 153-Room Hampton Inn Southcenter Hotel in Seattle, WA
Sonnenblick-Eichner Company | November 7, 2017
Beverly Hills, CA, November 7, 2017 – Real estate investment banking firm Sonnenblick-Eichner Company arranged the sale of the 153-room Hampton Inn Southcenter in Seattle, WA in an all-cash transaction. The property was sold to a Pacific Northwest-based investor and represents the last property in a portfolio of hotels that were financed and sold by Sonnenblick-Eichner Company over a 20-year period for this client. The Hampton Inn Seattle Southcenter is located four miles east of Seattle-Tacoma International Airport. Due to its close proximity to several major corporations, the hotel benefits from numerous corporate accounts inclu...
Get More Content, Get Customers in 2018
Alan E. Young | November 7, 2017
Why content marketing sells but isn't about selling By Alan E. Young, Puzzle Partner Ltd. If we were to ask you what the core, driving purpose and motivation of your content marketing strategy was, what would your answer be? Would it be to target a specific demographic or persona? To evoke a certain type of emotional response? Or, quite simply, would it be to sell your product or service? It actually doesn't matter, because within the digital marketing landscape that exists today, all of those answers are inherently wrong. Marketing today — and we're talking about the campaigns and strategies that really work — isn't about ...
Hospitality Financial Leadership – Four Important Things to Know
David Lund | November 7, 2017
By David Lund By creating and delivering my hospitality financial leadership workshops, I learned four very important lessons. The lessons center around how this workshop helps leaders change and become more financially engaged. ...
Paramount Lodging Advisors Brings on New Senior Associate Sean Banilivy For Capital Markets
Paramount Lodging Advisors | November 6, 2017
Paramount Lodging Advisors (PLA) would like to introduce Sean Banilivy as PLA's newest addition to the team. Sean Banilivy is the Senior Associate that will be spearheading the newly formed Capital Markets Division for Paramount Lodging Advisors. Prior to Joining PLA, Sean founded SJ Equity Partners, where he was responsible for sourcing, underwriting, and presenting high-net worth investors on investment opportunities throughout North America. Before founding SJ Equity Partners, Sean worked for JLL's Hotels & Hospitality Group in Investment Sales, where he was responsible for producing Broker Opinion Values, underwriting, and parti...
New York Leads U.S. Markets in Hotel Construction Pipeline Followed by Houston, Dallas, Nashville and Los Angeles
Lodging Econometrics | November 6, 2017
November 6, 2017 – PORTSMOUTH, NH – According to recent reports, analysts at Lodging Econometrics (LE) state that the five U.S. markets with the largest hotel construction pipelines by project count are: New York with 181 Projects/30,225 Rooms; Houston with 148 Projects/16,398 Rooms; Dallas with 143 Projects/17,580 Rooms; Nashville, which hit a cyclical peak this quarter, has 124 Projects/16,699 Rooms; and Los Angeles has 112 Projects/16,780 Rooms. New York has the most New Hotel Openings forecasted for 2017 with 39 Hotels/6,128 Rooms, then Dallas, which is expected to open 37 Hotels/4,510 Rooms followed by Houston with 27 H...
Rainmaker Executive Dan Skodol a Featured Speaker at Best Western Hotels & Resorts 2017 Annual Conference
Rainmaker | November 6, 2017
Presentation to Focus on the Relationship Between Benchmarking and Performance ALPHARETTA, GA. — Nov. 6, 2017 — The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that Dan Skodol, the company's vice president of revenue analytics, will be a featured speaker at the Best Western Hotels & Resorts 2017 Annual Conference, which will be held Nov. 7-10 at Gaylord Opryland Resort & Convention Center in Nashville, Tenn. Skodol's presentation, titled 'Comp Set: Getting it Right – The Relationship Between Benchmarking and Performance', w...
More Than 10,000 Hotel Properties Worldwide Rely on IDeaS’ Advanced Analytics for Confident Revenue Management
IDeaS | November 6, 2017
More hotel properties rely on IDeaS than any other revenue management software brand: 2017 marks a year of exceptional momentum and growth Tweet this: #RevenueManagement leader @IDeaS_RevOpt hits impressive milestone with 10K client properties! #10kThanks www.ideas.com/about/news MINNEAPOLIS, Nov. 06, 2017 – Hospitality managers across the globe are competing to see which technology tools can drive better business decisions, create new revenue opportunities and improve the guest experience. In 2017, many of these companies turned to IDeaS Revenue Solutions for revenue management software and advisory services, which have been sho...
HFTP Celebrates 65 Years of Success at Annual Convention 2017
HFTP | November 2, 2017
HFTP's Annual Convention 2017 was held from October 25–27 in Florida USA More than 580 Hospitality Financial and Technology Professionals (HFTP®) members and hospitality industry professionals came together from around the globe to celebrate HFTP's 65 years as an association at Annual Convention last week. This year's Annual Convention was held from October 25–27, 2017 at the Omni Orlando Resort at Championsgate in Championsgate, Florida USA. "Thank you to HFTP members, chapters, stakeholders and staff for 65 years of success," said HFTP CEO Frank Wolfe. "HFTP is proud to have provided hospitality ...
Sonnenblick-Eichner Company Arranges $16,750,000 of First Mortgage Acquisition Financing for the Normandy Hotel, Washington, D.C.
Sonnenblick-Eichner Company | November 1, 2017
Beverly Hills, CA (November 1, 2017) -- Sonnenblick-Eichner Company has secured $16,750,000 of acquisition financing for the purchase of the 75-room Normandy Hotel, located in the upscale Kalorama neighborhood of Washington, D.C. The property was acquired by Blu Kalorama Hotel, L.P. based in Santa Barbara, California The buyer has a long track record in the acquisition and repositioning of hotel properties and plans to upgrade the hotel and utilize their management expertise to bring hotel operations in line with its Competitive Set. Washington, D.C. is one of the strongest performing lodging markets in the nation. "We generated a treme...
Avison Young Hospitality Group Announces Closings
Avison Young | November 1, 2017
ATLANTA – November 1, 2017 – The Avison Young Hospitality Group announced today that it has closed 33 hotel transactions over the past 22 weeks. It also announced the hotel practice group has closed 318 hotel transactions since 2013 consisting of 91 Marriott, 68 Hilton, 42 IHG, 27 Choice, 16 Red Roof, 14 Wyndham, 7 Carlson and 53 other branded, historical or independent hotels. "The market is still in the window of this up-cycle," said H. Keith Thompson principal at Avison Young. "This cycle began in spring of 2010 and its duration is well beyond what most expected. Based on new debt, maturing CMBS debt, public markets and n...
LUX* Resorts & Hotels Books In For Growth With Infor
Infor | October 31, 2017
Infor EzRMS Rolled Out As Part of Strategy to Optimize Performance NEW YORK – Oct. 31, 2017 – Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced that LUX* Resorts & Hotels has gone live on Infor EzRMS revenue management software, across eight properties. The application is set to help support more than 1,400 rooms as part of an ambitious strategy to drive growth and maximize revenue at the luxury resort operator. Infor EzRMS will provide revenue strategy recommendations per room category and channel that are intended to optimize yield throughout t...
Desbravador Integrates TravelClick’s iHotelier Central Reservations System into its Property Management System
Desbravador | October 30, 2017
Integration Provides Real-Time Transmission of Rates and Inventory While Facilitating Seamless Communication for Hoteliers to Maximize Revenue NEW YORK, N.Y. October 30, 2017 – TravelClick, a global provider of innovative, cloud-based and data-driven solutions for hotels to maximize revenue, and Desbravador, a leader in lodging industry Property Management Systems (PMS) with a commercial presence in Brazil, Argentina and Europe and more than 3,500 clients across six other countries, have come together to integrate TravelClick's iHotelier Central Reservations System (CRS) into Desbravador Intelligent Management Software's PMS. This...
