Hospitality Financial and Technology Professionals (HFTP®) and the Global Finance Committee (GFC) are preparing for the Fall 2022 release of the 12th Revised edition of the Uniform System of Accounts for the Lodging Industry (USALI). Prior to publishing the newest edition, HFTP and the GFC have recruited a group of leading industry stakeholders to participate in the review of exposure drafts, requesting comments for consideration ahead of the 12th edition publication. The first exposure draft is for a new section titled: “Energy, Water, and Waste.”
“This is the first of many steps as environmental, social and governance objectives and measures will continue to change with the needs of our planet,” said GFC Communications Subcommittee Chair Ralph Miller, CPA, CA, CBV, CHA, CHAE. “The Global Finance Committee will continue to work with global industry stakeholders to update reporting requirements as sustainability requirements change.”
In updating the USALI to its 12th revised edition, the GFC and HFTP reached out to partner with the AHLA Sustainability Committee to enhance the Utilities-Schedule 9 in the USALI 11th edition to become the new Energy, Water, and Waste (EWW) of the USALI 12th edition, with a new EWW-Schedule 9 and new EWW metrics section to align with existing industry metrics. The new EWW metrics provide improved monitoring and benchmarking of EWW cost and usage. Significant changes from the 11th edition of USALI are reclassifying waste expenses from the Property Operations and Maintenance Schedule to the Energy, Water, and Waste (EWW) Schedule while also expanding Energy and Water with more detailed accounts, descriptions and metrics.
In addition, the EWW-Schedule 9 focuses on the guidance to support both large and small lodging properties to evaluate efficiency performance and prepare for information requests by stakeholders.
Corresponding with the exposure draft review process, HFTP and the GFC have prepared a summary and webinar on this new section to keep the industry at large informed of the process.
The webinar “A Look at the New Energy Reporting and Sustainability Benchmarking Standards for the Lodging Industry” will be held on December 10, 2021 at 10:00 a.m. EST. Panelists include:
- AHLA SUSTAINABILITY SUB-COMMITTEE MEMBER: Amy Bourne; Senior Manager, Sustainability & Supplier Diversity; Marriott International
- INDUSTRY ENVIRONMENTAL CONSULTANT: Eric Ricaurte; Founder; Greenview
- USALI GLOBAL FINANCE COMMITTEE CO-CHAIR: Raymond Martz; Chief Financial Officer; Pebblebrook Hotel Trust
- USALI GLOBAL FINANCE COMMITTEE MEMBER: Agnes DeFranco; Conrad N. Hilton Distinguished Chair; University of Houston
- USALI GLOBAL FINANCE COMMITTEE MEMBER: Ralph Miller; President; Inntegrated Hospitality Management Ltd.
Registration is now open. The cost to attend is: USALI subscribers — free; HFTP members — $49 USD; and Regular — $79 USD.
Follow news and information on the USALI, 12th Revised Edition on the HFTP website.
