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
HFTP Announces 2017 Paragon Award Recipient
HFTP | September 21, 2017
Mary Gerdts will be honored at HFTP's Annual Convention this October Mary Gerdts was selected as the 2017 Hospitality Financial and Technology Professionals (HFTP®) Paragon Award recipient for her unwavering support of the association, and substantial contributions to increase knowledge sharing and promote growth in the hospitality industry at large. Gerdts will be honored next month during HFTP's 2017 Annual Convention held at the Omni Orlando Resort at ChampionsGate in ChamptionsGate, Florida USA. Based in Phoenix, Arizona USA, Gerdts is the founder, CEO and president of two companies in the electronic transactions industry: P...
An Analysis of Franchise Fees
Robert Mandelbaum | September 20, 2017
By Robert Mandelbaum In the current market environment of modest growth in revenue, hotel owners and operators are paying extra attention to their operating expenses. Per the June 2017 edition of Hotel Horizons®, RevPAR growth in the U.S. is forecast to remain under 3.0 percent from 2018 through 2021. Therefore, it will be management's ability to control expenses that will enable profits to grow. One expense that management has less control over are franchise fees. Most of the fees charged by the franchising companies (brands) are assessed as a percent of a source of revenue. Therefore, owners and operators have mixed emotions when ...
Why June 2018 Will Be Good for Hotels and July 2018 Will Be Horrible
Tucker Johnson | September 20, 2017
By Tucker Johnson I recently conducted an educational seminar for some industry managers covering P&Ls and Budgeting. As part of the session I had them take some day-by-day hotel numbers from June of 2017 and forecast what June of 2018 would look like. I told them the industry was expecting a three percent increase for the next year. The hotel was busy on the weekends and slower during the weekdays. All of the participants forecasted exactly three percent above the June 2017 total for June 2018. I told them that when forecasting, "There are no right numbers, but there are wrong numbers. And all of you are wrong." They didn't know wh...
Ranking Hotel REITS 2017: Dividends, EBITDA & Overhead
Hans Detlefsen | September 19, 2017
Which Hotel REITs Generate the Highest EBITDA Margins and Pass Along the Most Money to Investors? By Hans Detlefsen and Matthew Glodz Hotel Appraisers & Advisors (HA&A) is pleased to announce our second annual ranking of hotel real estate investment trusts (REITs). HA&A currently monitors 16 hotel REITs, discussed throughout this report. Some hotel REITs are more effective than others at generating earnings and passing profits on to investors. In this year's report, we rank each of these hotel REITs according to three metrics: (1) dividend yields; (2) EBITDA margins; and (3) overhead expenses. Our 2017 rankings are based on...
Sonnenblick-Eichner Company Arranges $135,780,000 of Financing for a Portfolio of Cooper Hotels
Sonnenblick-Eichner Company | September 19, 2017
Beverly Hills, California, September 19, 2017 - Sonnenblick-Eichner Company announced today that it has arranged $135,780,000 of non-recourse, first mortgage financing for 11 of Memphis-based Cooper Hotels' properties totaling 2,037 rooms. The hotels include full service, select service, extended stay and limited service hotels located in Florida, Michigan, and Tennessee, all branded by Hilton. The 5-year floating rate loan was underwritten to a 70% loan-to-value and pays on an interest-only basis for the entire term. The portfolio includes the following properties: Hilton Naples, Naples, Florida Hilton Orlando/Altamonte Springs, Alt...
Duetto Announces Revenue Strategy Partnership with Jamaica’s Half Moon
Duetto | September 19, 2017
Agreement to Deploy Multiple Applications Builds Momentum in Caribbean Luxury Market Montego Bay, Jamaica, 19 September, 2017 — Duetto, the hospitality industry's leader in Revenue Strategy technology, has spread its cloud-based solutions to a key property in the Caribbean, signing an agreement with Jamaica's leading luxury resort, Half Moon. "Half Moon is one of the very best resorts the Caribbean has to offer, and we're incredibly proud and excited to partner with this property," said Patrick Bosworth, Co-Founder and CEO of San Francisco-based Duetto. "We are confident that Duetto's data-driven approach to Revenue Strategy and i...
Avison Young Hospitality Group Announces Summer 2017 Closings
Avison Young | September 14, 2017
ATLANTA – September 14, 2017 – The Avison Young Hospitality Group announced today that it has brokered 25 hotels this summer that were located throughout the U.S. from New York City to San Francisco. Full-service hotels, select-service hotels, historic hotels, extended-stay hotels and all-suite hotels were all included in these sales. Pricing of the hotels ranged from $46 million to sub-$10 million and room counts ranged from 400-room full-service to 100-room select-service assets. The brokers involved in these closings spanned the entire practice group. "Today we have 231 hotels on the market priced from sub-$10 million to ...
PMS Software Evaluation Scorecard Ensures Hotels Can Find Their Ideal Property Management System
September 14, 2017
Hoteliers can use step-by-step quantitative assessment to determine their ideal PMS match with newly released easy-to-use scorecard and template Bethesda, MD (September 14, 2017) – Investing in the right property management system (PMS) will help increase hotel revenue, drive guest engagement, and boost staff efficiencies, but with many options available, what selection criteria should hoteliers use to make the right decision for their unique property? Knowing that not all hotel PMS solutions are created equal, StayNTouch® has released a comprehensive PMS Evaluation Scorecard designed to help hotel operators select the right P...
HFTP Hospitality DPO Task Force Outlines Objectives as Industry Prepares for New Data Projection Regulations May 2018 Deadline
HFTP | September 14, 2017
Task force comprised of 23 experts sets up a plan for hospitality-specific guideline and certification development for a Hospitality Data Protection Officer (HDPO) Preparing for the new EU General Data Protection Regulations (GDPR), a framework legislated by all EU member states with a required compliance date of May 25, 2018, Hospitality Financial and Technology Professionals (HFTP®) has taken the initiative to develop hospitality-specific guidelines and a certification for a Hospitality Data Protection Officer (HDPO). The building of these resources is underway by a team of 23 experts, recruited by HFTP to comprise the HFTP Hospit...
Rainmaker President Tammy Farley to Present Revenue Generation Session at AAHOA’s 2017 Women Hoteliers Conference
Rainmaker | September 13, 2017
Founder of industry's leading provider of revenue and profit optimization software will offer expert insight to fellow female leaders ALPHARETTA, GA. — Sept. 13, 2017 — The Rainmaker Group (Rainmaker), the hotel revenue and profit optimization cloud, announces that its president and co-founder, Tammy Farley, will be a featured speaker at the 2017 AAHOA Women Hoteliers Conference, which will be held Sept. 15-16 at the Embassy Suites by Hilton Anaheim North in Anaheim, Calif. Hosted by the Asian American Hotel Owners Association (AAHOA), the event brings together female hoteliers and top executives from across the country for ...
2016/17 United States Hotel Franchise Fee Guide
Kasia M. Russell | September 12, 2017
By Kasia M. Russell and Bomie Kim The selection of an appropriate franchise affiliation affects a property's ability to compete in its local market, generate profits, and achieve a desirable image and market orientation. Because the success of a hotel is based primarily on the cash flow generated, owners and lenders must weigh the benefits of a brand affiliation against the total cost of such a commitment. Please note that the study results are not indicative of the impact an individual brand may have on a hotel's overall profitability because only the costs, and not the benefits of the franchise affiliations, have been analyzed. Furthe...
Hospitality Financial Leadership – Global Hotel Revenue Management
David Lund | September 11, 2017
By David Lund Global is a big word and now that we have your attention I want to define global in a hotel setting. Global refers to all sources of revenue and their corresponding profit picture. A global perspective on revenue management yields the highest possible profit because we understand and apply a BIGGER view to our business. I think the title and buzz word that has our industry locked on "revenue management" is entirely the wrong way to look at it. It is not revenue we are after, it is profit. Revenue is where we start but it is always profit that we end up with. Understanding what happens to the room revenue and resulting prof...
Hotel Occupancy Continues to Reach New Heights but Rate Not Keeping Pace
Leland Pillsbury | September 8, 2017
By Leland Pillsbury The U.S. hotel industry's ongoing run of monthly RevPAR increases and its recent record occupancy levels are obscuring a more unsettling trend, one that many hotel groups will be unable to overcome quickly when the hot streak ends and a downturn finally comes to lodging. Robust occupancy, especially in the major destination markets, does not fit with the slowdown in RevPAR growth and anemic ADR growth in the industry. Something is going wrong with hotels' pricing power, and hospitality companies are blaming several things, from increasing supply outpacing demand, to difficulties with online travel agencies and the ef...
EB-5 Finance Lawyer: President Trump’s Budget Deal Includes Extension of EB-5 Through 12-8-17
Jim Butler | September 8, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 08 September 2017 President Trump's budget deal with Congress includes extension of EB-5 through December 8, 2017. In a message to members of the Public Policy Committee today, the IIUSA confirmed the extension of the EB-5 regional center program as part of the budget deal struck yesterday by President Trump and Congressional leaders. IIUSA message on EB-5 extension The IIUSA is one of the leading EB-5 industry trade groups. Here is the text of the message from the IIUSA we received today: Dear IIUSA Public Policy Committee, As we are sur...
HFTP Helps 2017 to Support Medically-Sound Children’s Camp via Silent Auction Fundraiser
HFTP | September 7, 2017
Donations for the silent auction fundraiser are currently being accepted – HFTP will donate one hundred percent of the proceeds to the charity As part of its ongoing social responsibility efforts, international association Hospitality Financial and Technology Professionals (HFTP®) will host its third HFTP Helps silent auction fundraiser at its upcoming HFTP Annual Convention in ChampionsGate, Florida USA. Created to support the local communities that host HFTP's Annual Convention each October, the HFTP Helps 2017 fundraiser will benefit Camp Boggy Creek, a free, safe and medically-sound 232-acre camp that enriches the live...
Peachtree Hotel Group Chooses Profitsword for Business Intelligence Platform
Peachtree Hotel Group | September 6, 2017
Sandy Springs, Georgia – September 6, 2017 – With the goal of improving operational efficiencies and providing a real-time reporting platform for management, Peachtree Hotel Group (PHG), one of the nation's fastest-growing hotel investment and management platforms, has chosen ProfitSword and the ProfitSage suite of applications for its portfolio of hotels. Peachtree operates 34 hotels concentrated in the southeastern United States with Comfort, Starwood, Hyatt, Marriott, IHG, and Hilton brands. ProfitSage is a web-based financial business intelligence application providing users with data in real-time. With a high level of i...
Trilogy Spa Holdings Appoints Samara Gonzalez as Spa Director, Well & Being Spa at El San Juan Hotel
Trilogy Spa Holdings | September 5, 2017
San Juan, PR – September 5, 2017 – Trilogy Spa Holdings announces the appointment of Samara Gonzalez as spa director of Well & Being Spa at El San Juan Hotel. Bringing a diverse background of retail, marketing and spa industry experience to this new role, Gonzalez will implement business-driving initiatives and marketing strategies to transform the newest Well & Being location into Puerto Rico's top destination spa for both locals and visiting tourists. In this position, Gonzalez will boost guest loyalty and drive business to the 4,400 square-foot spa and 5,000 square-foot fitness center through the development of cr...
Hospitality Financial Leadership – How to Set Up and Report Food & Beverage in Your Hotel Financials
David Lund | September 5, 2017
By David Lund That is a long title and it is fitting because F&B reporting in your financials is the longest part of your hotel financial reporting process. Every other department except for benefits is a single shot. In F&B you need allocations and a roll up of all outlets into a total F&B profit statement. This is the single biggest area where I see hotels get their statements wrong. In this article, I am going to lay out how to set up your statements and general ledger to provide you strong financial reporting for your food and beverage department. Food and beverage is different This is the first thing to grasp. In comple...
Hospitality Financial Leadership – Leadership and Technology
David Lund | August 29, 2017
By David Lund "Your success in life isn't based on your ability to simply change. It is based on your ability to change faster than your competition, customers, and business." – Mark Sanborn One incredibly challenging aspect of hospitality is the ever-changing technology. In a modern full-service 500-plus room hotel you have more than 50 different systems and apps to manage, integrate and upgrade. Most people do not see the massive amount of technology being used in hospitality and this article is about leadership in the face of that ever-changing landscape. I remember when we upgraded from Micros 4700 posting machines in the fron...
HFTP Announces Re-branded Annual Convention Formal Event, HFTP’s Annual Tribute to Success
HFTP | August 29, 2017
The Friday night event, formerly known as "President's Evening," will recognize outstanding achievements by HFTP members Hospitality Financial and Technology Professionals (HFTP®) is making some key updates to its Friday evening event at its upcoming Annual Convention, an event the association has produced since 1952. The event, which offers essential educational and networking opportunities for hospitality finance and technology professionals, will feature a reformatted formal dinner program. Now called "HFTP's Annual Tribute to Success," the celebration will focus on recognizing the association and its outstanding me...
EB-5 Financing Lawyer: What JMBM Does to Help Developers With EB-5 Construction Financing
Jim Butler | August 28, 2017
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 28 August 2017 Focus on helping developers Client confidentiality precludes us from listing clients and projects we have assisted with this program, but suffice it to say that some of the best known names in the business are tapping into this funding source to fill out their capital stack at a favorable cost. And we have helped some of the biggest and highest profile players. JMBM has closed more than $1.5 billion of EB-5 financing and has sourced more than half of that for our development clients. We specialize in representing developer...
Getting into the Mind Set of Budget Planning Season for 2018
the Author & HeBS Digital | August 23, 2017
A quick look at macro and micro travel trends in preparation for the fall budget planning season By Jason Price, EVP, HeBS Digital Budget season is fast approaching and next month HeBS Digital will publish its annual Smart Hoteliers' Guide to Budgeting for 2018. This popular guide provides hotel marketers with a blue print on where, what, and how for driving the direct online channel and shifting share away from the OTAs. The planning process should take a macro and micro view of the travel economy because the broader market does affect the economic conditions of your local and regional destination. Moving into 2018, travel supply a...
Duetto and Constance Hotels & Resorts Announce Revenue Strategy Partnership
Duetto | August 23, 2017
Leading Hotelier in the Indian Ocean Resort Market Adopts Duetto's Cloud Applications Poste de Flacq, Mauritius, 23 August, 2017 — Duetto, the hospitality industry's leader in Revenue Strategy technology, has partnered with Constance Hotels & Resorts to bring the firm's cloud-based solutions to the seven Constance resorts in luxury destinations across the Indian Ocean. "Our agreement with Constance Hotels and Resorts shows the benefits of a new approach to Revenue Strategy in the luxury-resort sector, and we're pleased to count such a high-caliber hotel company as our newest partner," said Patrick Bosworth, Co-Founder and CEO ...
The Rainmaker Group Ranks on Inc. 5000 List of America’s Fastest-growing Private Companies for Seventh Consecutive Year
Rainmaker | August 22, 2017
Alpharetta, Ga. – August 22, 2017 – The Rainmaker Group (Rainmaker), the hotel revenue and profit optimization cloud, is proud to announce that it has again ranked on the Inc. 5000 list of the fastest growing privately held companies in the U.S. for 2017, making it the seventh consecutive year to achieve this honor. With the addition of 2017, Rainmaker is now part of an elite two percent (2%) of companies that have had the honor of being listed seven times, and an even smaller percentage that have received this distinction for seven years consecutively. With a continuously expanding customer base, Rainmaker continues to rank...
