HFTP® Acquires Leading Hospitality Industry Brands: Hospitality Upgrade, Hotel-Online, The CIO Summit and The Executive Vendor Summit
Hospitality Financial and Technology Professionals | June 25th, 2024
Top Considerations for Hotel Balance Sheets During COVID-19 and Beyond
August 17, 2020
One of the many impacts of the ongoing COVID-19 pandemic is that it has highlighted the importance of working capital. "Cash is King" is all the more irrefutable as industries worldwide struggle to meet lenders’ and creditors' demands. With companies lacking reliable forecasts, more investors now gauge performance based on balance sheet metrics, namely debt levels, asset liquidity, covenants and stable cash flows. These are now, more than ever, favoured by owners and investors to assess if management can keep meeting obligations during the crisis. Balance sheets deserve more attention and are an often-overlooked financial statement. Whi...
Nominations Open for Sixth Annual ISHC’s Lori Raleigh Award for Emerging Excellence in Hospitality Consulting
ISHC | August 17, 2020
Atlanta, Ga. (August 17, 2020): The International Society of Hospitality Consultants (ISHC) today announced that nominations are being accepted for the sixth annual Lori Raleigh Award for Emerging Excellence in Hospitality Consulting. Launched in 2015 in honor of Lori Raleigh, founder of the Travers Group and executive director of ISHC 2000-2013, the award honors young, successful industry professionals with leadership qualities and a perceived bright future in hospitality consulting. “The Lori Raleigh Award for Emerging Excellence in Hospitality Consulting provides an opportunity to recognize young professionals who demonstrate early...
It’s Becoming Survival of the Fittest
Robert Rauch | August 14, 2020
By Robert Rauch Prepare your operations to meet what guests are looking for, and prepare your teams for the realities of today’s environment. Mike Ditka, former NFL star player and coach once said, “Success is not permanent, and failure is not fatal.” Today it is paramount to test, experiment and kill the projects that don’t work. Business models and budgets became obsolete immediately. Culture and teamwork became even more critical as our world got turned upside down. As an owner or operator of a hotel, we are now a full-time coach if we were not before. This requires clarity and focus as some departments have...
Allied Hospitality Associations: HFTP and HTNG Offer New Joint Discount for Corporate Members
Hospitality Technology Next Generation (HTNG) | August 14, 2020
Hospitality Financial and Technology Professionals (HFTP®) and Hospitality Technology Next Generation (HTNG) are now offering a joint 20 percent discount for companies joining the two associations at once. The specially-designed vendor programs, HFTP's Corporate Allied Sponsorship and HTNG's Industry Partner program, offer companies access to the numerous services offered by the associations, including unique benefits that help boost company recognition. "HFTP's Corporate Allied Sponsorship not only expands professional development for participants' employees and company recognition; but also increases the depth of HFTP's networ...
SmartHands DISPENSERS & SANITIZERS: A WINNING COMBINATION
Minibar Systems | August 14, 2020
Rockville, MD - Minibar Systems is pleased to announce our new SmartHands dispensers are now available for hotels and can soon be purchased online at SmartHands.MinibarSystems.com. The SmartHands™ hand sanitizer contains 80% Ethanol Alcohol which exceeds the CDC standard and kills 99.99% of harmful germs and bacteria. Aloe vera leaf extract is added to help aid and moisturize skin after application. Please visit the website for additional product information and ordering information. FDA Approved 80% Alcohol Hand Sanitizer Kills 99.99% Of Germs & Bacteria 80% Ethanol Alcohol – Exceeds CDC Guidelines 1 Liter Bag Provides ...
Counting the Social Costs of Tourism in the COVID-19 Era
PolyU’s School of Hotel and Tourism Management | August 13, 2020
During the COVID-19 pandemic, tourism scholars and practitioners have directed their attention to local communities in tourist destinations, examining their safety and well-being and the costs that they bear due to tourism activities. Yet according to the SHTM’s Professor Haiyan Song and Dr Jinah Park and their co-researchers, it is now time to discuss the social costs of tourism during crises. How much are local communities willing to sacrifice to reduce these costs? Analysing local residents’ willingness to pay to alleviate public health risk, the researchers explored the situation through an economic lens. Their findings have importan...
How Hotel F&B Pivoted in Response to COVID-19, and What the Future Holds
Court Williams | August 12, 2020
By Court Williams Global tourism has been expanding rapidly over the past few decades, and this was a primary factor driving the hospitality industry before the coronavirus outbreak. Growth projected by the World Tourism Organization (UNWTO), set the expected number of tourist arrivals across the globe at more than 1.5 billion by 2020. Covid-19 had other ideas, however, and 2020 has turned out to be the year everything changed. Hotel food and beverage (F&B) operations are among some of the most-affected industries. Key Hotel F&B Trends Before Covid-19 Change is inevitable, and the whirlwind arrival of Covid-19 proved once agai...
Baby Boomers Deserve Big Attention From Businesses Too
Linchi Kwok | August 12, 2020
By Linchi Kwok Jill Filipovic argued in her new book - OK Boomer, Let’s Talk: How My Generation Got Left Behind - that millennials have been going through tougher economic circumstances than any other generations since the Great Depression. I am neither a millennial nor a Boomer, but the media coverage about Jill’s arguments got my attention. The fact is no matter if we are in the position of supporting or challenging Jill’s propositions, we cannot deny that we need Boomers to boost post-pandemic consumption. Besides millennials and Gen Zers, Baby Boomers also deserve big attention from businesses. Boomers have time and money ...
Contactless Linen Inventory Management and Stay Safe Using the InvoTech UHF-RFID System
InvoTech | August 12, 2020
Safely manage the daily tasks related to your linen and laundry activity and work in the current situation, respecting social distancing and hygiene norms. InvoTech provides a completely contactless, safe experience for everyone in your property dealing with linens and laundry activity. The ideal solution to help housekeeping operations enable full productivity and safety for your staff. Track your entire linen inventory, maintain proper inventory levels in storerooms and manage laundry activity without physical contact. Using the UHF-RFID Linen System allows you to manage the entire inventory from initial purchase, daily usage, aging and lau...
Ten Ways to Boost Guest Confidence and Increase Loyalty Amid COVID-19
Amadeus Hospitality | August 12, 2020
Rethinking the guest experience, creating new standards, and committing to those standards will be vital in building future loyalists. COVID-19 has caused many to reflect upon the fundamental operations of our global society and our day-to-day lives, including the way we travel. In hospitality, many are wondering how an industry that is so reliant on personal interactions can recover from the crisis and earn back guest confidence. Moving forward, hotels that integrate the newest stringent standards into their operations – while also rethinking the guest experience – will be the first to see a positive revenue impact. Further emb...
Minibar Systems Introduces SmartHands Elevator Hand Sanitizer Dispenser
Minibar Systems | August 12, 2020
[video width="600" height="338"" mp4="https://www.hotel-online.com/wp-content/uploads/2020/07/SmartHands_Elevator_Dispenser.mp4"][/video] Rockville, MD - Minibar Systems is pleased to announce our new SmartHands Elevator dispensers are now available for hotels and can soon be purchased online at SmartHands.MinibarSystems.com. The SmartHands™ elevator hand sanitizer works with the dispenser and contains 80% Ethanol Alcohol which exceeds the CDC standard and kills 99.99% of harmful germs and bacteria. Aloe vera leaf extract is added to help aid and moisturize skin after application. Please visit the website for add...
Knowland Announces 3-Part Webinar Series Entitled Gearing Up for the Road Ahead
Knowland | August 11, 2020
Aug. 11, 2020 - Knowland’s vice president of product, Kristi White will speak with special guests about strategies to help hotels plan for the future and grow group business during these difficult times. With guests from management companies and training executives to technology partners and meeting planners, Kristi will dive into real conversations dealing with the re-calibration of the industry and brainstorm on potential new strategies for hoteliers as we move through the one of the greatest business disruptions in history. Seats are limited and filling up fast for this important series and attendance is complimentary. The first ...
Hospitality’s Role in Driving Sustainability and Community Projects
August 11, 2020
As one of the world’s largest industries, it’s up to travel and tourism to lead the way toward a carbon-smart, sustainable future that contributes to the well-being of people and the planet. This means giving back to local communities, particularly now, since so many places around the world that depend on visitors are struggling as a consequence of COVID-19. Even before the virus took its devastating toll on the industry, visitors have been looking for ways to create deeper and more meaningful connections with the places they care about - a trend known as voluntourism. Voluntourism, when done right, is a win-win situation for everyone:...
IHG Releases Interim Results to June 30, 2020
IHG | August 11, 2020
Key metrics $6.6bn total gross revenue (down (52)%; (51)% at CER) (51.7)% global H1 RevPAR (74.7)% global Q2 RevPAR 1 Excludes System Fund results, hotel cost reimbursements and exceptional items. 2 Comprises the Group’s fee business and owned, leased and managed lease hotels. 3 Excludes owned, leased and managed lease hotels, significant liquidated damages and the results of the Group’s captive insurance company, with 2019 restated accordingly. 4 Calculated using results from Reportable Segments and Adjusted Interest, and excluding changes in fair value of contingent consideration. 5 Reportable segment ...
AHLA Applauds President Donald Trump for Signing Executive Orders Extending Unemployment Benefits
AHLA | August 10, 2020
WASHINGTON (August 10, 2020) – The American Hotel & Lodging Association (AHLA) today applauded President Donald Trump for supporting Americans by signing Executive Orders that extend unemployment benefits and support those impacted by COVID 19, while urging Congress to come together swiftly and pass meaningful, bipartisan legislation that helps support the hotel industry and the millions of employees we support. The following statement is attributable to Chip Rogers, president and CEO of AHLA: “Millions of America’s hotel workers remain out of work as our industry struggles to survive the pandemic. We applaud the actions take...
Hilton College Announces Winners of the First-Ever Hospitality Hackathon (HC3), Sponsored by HFTP
Hilton College | August 10, 2020
This summer, the University of Houston Conrad N. Hilton College of Hotel and Restaurant Management, in partnership with Hospitality Financial and Technology Professionals (HFTP®), challenged students in hospitality programs across the globe with the first-time Hilton College Hospitality Hackathon. The competition asked participants to tackle COVID-19 head-on and address the challenges it has posed to all sectors of the hospitality, travel and tourism industry, and to develop solutions to move it forward. "The response to our first HC3 Hilton College Hospitality Hackathon from hospitality programs around the world has been nothing short of...
Hotel Demand and GDP Have a Strong Correlation and That’s a Problem
HotStats | August 10, 2020
Among the many delicious scenes from the movie “Goodfellas” is one where the characters of Ray Liotta and Joe Pesci burn down a restaurant because its credit has run out, putting an end to their graft. “And then finally, when there’s nothing left, when you can’t borrow another buck from the bank, you bust the joint out. You light a match.” What does this have to do with a hospitality-focused blog? It serves two functions. 1) Whenever you can introduce a “Goodfellas” quote into an article, you do it. 2) Substitute a hotel in for a restaurant, and a lot of owners right now might have the same inclination—figuratively, of co...
Hyatt Announces Face Coverings Requirement for Guests at Hotels in the Americas
Hyatt Hotels Corporation | August 10, 2020
CHICAGO (August 10, 2020) -- At Hyatt, the safety and security of our colleagues and guests is always a top priority. Guided by our purpose – to care for people so they can be their best – and following medical expert guidance to help reduce the spread of COVID-19, all Hyatt hotels in the Americas will require face coverings within indoor public areas, which include meetings and events spaces, restaurants and bars, and fitness centers. Guests are also required to wear face coverings while moving around in outdoor areas. Some guests may be exempt from this mandate, including but not limited to people with medical conditions, consuming f...
Lighthouse Hotels and Resorts Tapped to Manage Holiday Inn Birmingham, Alabama
Lighthouse Hotels and Resorts | August 10, 2020
Birmingham, AL, August 10, 2020 - Lighthouse Hotels and Resorts, a Florida based hotel ownership and management company, was recently chosen to operate the 220 room full service Holiday Inn at the Birmingham-Shuttlesworth Airport. According to Marty McDaniel, Lighthouse Hotels CEO, the appointment was a wonderful addition to their existing portfolio. “We have been searching for the right full service hotel with the right flag, market and owner for quite sometime. It’s rare to find that combination in only one asset, but we did here,” McDaniel said that the chemistry between the company and the hotel’s owner Mark Gregson, was the d...
Travel Community Reacts to Breakdown of Coronavirus Relief Talks
The U.S. Travel Association | August 10, 2020
WASHINGTON (August 10, 2020)—U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes issued the following statement on reports that congressional and administration leaders are suspending negotiations on the next phase of pandemic-related legislative relief: “It is critical that leaders in Washington resume talks and move forward on much-needed coronavirus-related economic relief. The travel and tourism industry accounts for 38% of all U.S. jobs lost so far, and travel companies—83% of which are small businesses—remain particularly vulnerable to the economic impact of the health crisis. ...
Renowned Hotelier Mr Robert H. Burns Honored With PolyU’s SHTM Lifetime Achievement Award
PolyU’s School of Hotel and Tourism Management | August 10, 2020
10 August 2020- The School of Hotel and Tourism Management (SHTM) of The Hong Kong Polytechnic University (PolyU) is privileged to announce that Mr Robert H. Burns, Founder of Regent International Hotels, is bestowed the prestigious SHTM Lifetime Achievement Award in 2020 and is inducted into the School’s famed Gallery of Honour at the same time. The SHTM Lifetime Achievement Award was established in 2016 to honour outstanding persons who have contributed substantially to the development of hospitality and tourism in Hong Kong, the region and around the world. In bestowing the award, the SHTM seeks to recognise true leaders who help defi...
Reactivating the Caribbean During the COVID-19 Pandemic
Kristina D’Amico | August 6, 2020
By Kristina D'Amico The top priority for all islands in the region has been a focus on residents and the public health issues at hand. Upon knowledge of the COVID-19 pandemic, each island immediately closed its borders, which allowed for a very low number of cases in the region so that the islands could focus on containing the virus transmission without any additional entrants. Given that the Caribbean is the most tourism-dependent region in the world, it was essential to develop new protocols for entry, which had never been implemented before, once the virus spread was under control in each country. Per Honorable Dominic Fedee, Chair o...
Revenue Management Strategies During an Economic Downturn or Global Financial Crisis
Patrick Landman | August 5, 2020
By Patrick Landman The unofficial definition of Revenue Management used by insiders is ‘the art of turning away business’. This certainly does not apply during the current Covid-19 (coronavirus) global healthcare crisis, and the economic downturn the hotel industry is facing in its aftermath. All the standard strategies and playbooks are out of the window right now. So what to do? Hotel revenue management has now turned into a more commercial role, one that is focussed on generating demand, and getting eyeballs to your shop’s window. Not the typical role a revenue manager is used to. And I am sure many revenue management profess...
Four Technologies That Can Help Hotels Augment COVID-19 Safety Procedures
Tom Riccio | August 5, 2020
By Tom Riccio While America slowly but cautiously reopens amidst the pandemic, businesses – including hotels – can expect to see an increase in guest traffic. With this uptick, it is imperative for hotels to keep infectious disease control and prevention strategies in place. Establishments with a clear and effective COVID-19 prevention plan will be in a stronger position to differentiate their brands, rising to the top as industry leaders. Even as vaccines and more treatments become available, the hotel industry – and many other sectors – will need to maintain safety measures to meet customers’ expectations, cultivate ongoing tru...
