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  • New Global Directors Join the 2018-2019 HFTP Board

    The HFTP 2018-2019 Global Board of Directors was installed during the association's 2018 Annual Convention and introduces new directors Toni Bau, Carson Booth, CHTP and Mark Fancourt. These extensive director profiles give insight into the distinguished professions and personal goals of HFTP's newest association leaders.

  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

  • Primary Club Metrics

    Survey results identify which metrics are most often used to determine performance. By Agnes DeFranco, Ed.D., CHAE; Tanya Venegas, MBA, MHM, CHIA; and Amanda Belarmino

  • Introducing 'Your HFTP': An Updated Online Interface for HFTP Members

    HFTP is excited to announce the newly updated “Your HFTP” online account portal. “Your HFTP” allows you to successfully manage your HFTP membership online. This refreshed online interface looks and feels just like the HFTP website and (better yet) is mobile-responsive.

Beyond the Ordinary: Historic Hotels and Unique Event Venues

Hotel Business Review by hotelexecutive.com·16 December 2018
Events can take many forms, from small intimate gatherings to blockbuster conventions, from a business meeting to weddings and soirees. Regardless of the size and form, in an increasingly competitive hotel marketplace, the role of the event as a value-added component to the bottom line cannot be underestimated. Events have a significant direct and positive impact on a hotel's bottom line, but also indirectly in exposure and positive reviews, whether formally in publications or informally through social media and word of mouth.

The Travelers Have Spoken: Capturing and Leaning into Guest Review Sentiment

Hotel Business Review by hotelexecutive.com·16 December 2018
There's no denying the power of the hotel review: "Will NEVER ever stay at this place again. The rooms are dirty, never cleaned or vacuumed under bed, stains on linens, just icky." "The staff was excellent, and the rooms were very clean. The only complaint I had was the elevator was slow."

Hotel Recruiting Obstacles: Budget, Brand Reputation, and Location

Hotel Business Review by hotelexecutive.com·16 December 2018
Every property, management company and travel tech company (and really any organization) has recruiting challenges to overcome. While no two properties are exactly alike, there are commonalities that tend to appear, and can be lumped into three buckets: Budget, Brand and Location.

Hostels: The Hot New Market

Hotel Business Review by hotelexecutive.com· 9 December 2018
With the rise of the sharing economy and the exponentially expanding competitive set within the hostel sector, the hospitality industry has been going through a number of dramatic shifts over the last few years. Brands like Airbnb and Uber, in particular, have revolutionized the way we travel, and continue to influence and inspire the development of new peer-to-peer platforms.

What Subscription Models Tell Us About Driving Loyalty and Revenue

Hotel Business Review by hotelexecutive.com· 9 December 2018
Consumers are subscribing to an ever-growing diverse set of categories and services – and at greater rates. There is easy access to everything from meal delivery kits to clothing and beauty products. Several automobile companies are even testing and making progress on their own subscription-based models including Porsche, Volvo and Mercedes. But gaps do remain in many industries jumping to offer and capitalize on subscriptions.

How to Keep Hospitality Entertaining

Hotel Business Review by hotelexecutive.com· 9 December 2018
The passionate airline pilot loves soaring above the clouds, savoring the feeling of power and freedom from our home planet's strong pull. However, when "on the job," she or he must attend to a long, prescribed protocol of pre-flight, takeoff, in-flight and landing procedures and responsibilities. It takes knowledge, experience and attention to detail, as well as being able to react at a moment's notice to a "change in flight plans," to safely and productively navigate to one's destination.

Big Data and Advanced Technologies: What Role for Frontline Staff?

Hotel Business Review by hotelexecutive.com· 2 December 2018
Call it a sign of maturation mixed with puzzlement. We are morphing quickly along a seemingly inevitable path from the Information Age to a Big Data and AI (Artificial Intelligence) one. As we do, more and more observers are expressing concern over how entities of all sizes will manage the incredible amounts and constant stream of data that are now made available to us - as frontline operators; as property and asset managers; as human resources and other administrators; and as owners and investors.

New Strategies for Recapturing the Value of Hotel Food Waste

Hotel Business Review by hotelexecutive.com· 2 December 2018
Food waste wastes money. In the US alone, we waste more than $160 billion worth of food each year. Reducing waste is a perfect example of how more sustainable business practices can sustain people, planet, and prosperity all at the same time. The food waste debate often focuses on how to keep waste out of landfills by diverting it to people, animals or compost (in that order). That's a worthwhile goal, but it's not the best way to save money-or the planet. Rather, preventing food waste is the most effective way to save money and the environment.

Using F&B to Establish a Unique Character for Your Hotel

Hotel Business Review by hotelexecutive.com·25 November 2018
A hotel's restaurants and bars offer one of the best opportunities for the hotel to express its unique character. Food and beverage (F&B) is nothing less than hospitality in motion, on display and interactive in a way that everyone can see. It only makes sense to use F&B to help differentiate hotel properties, now more than ever.

When it Comes to Millennials, Bet the House on Las Vegas

Hotel Business Review by hotelexecutive.com·25 November 2018
Hospitality marketers are currently facing a more challenging landscape than ever when it comes to attracting and appealing to millennials. The methods used for generations past are proving to be irrelevant for this current audience, not just in where they are going, but why. A recent article from Gary Green, renowned casino expert and host of "Casino Rescue," depicts this conundrum as it relates to one of the most famous vacation destinations – Las Vegas.

The Changing Landscape of Water: How to Save On Hotel Water Demands and Expenses

Hotel Business Review by hotelexecutive.com·25 November 2018
Across the United States, fresh water supplies are reaching sustainable limits. Factors such as steadily increasing populations, relocation of people to water-strained regions, escalating irrigation demands, and climatic events are combining to strain our nation's water resources. Readily available water supply sources have largely been allocated, so the shift toward water conservation and development of alternative sources to meet increasing demands is widespread. State and local regulations to protect the natural resource and limit demands are also on the rise.

The Power of an Integrated Marketing Campaign: How to Make 1 + 1 = 3

Hotel Business Review by hotelexecutive.com·18 November 2018
When integrated marketing communications was first introduced decades ago, many marketers deemed it as a phase with no lasting-power. Since then, it has managed to become the go-to approach for forward-thinking companies, especially as technology has evolved to play a key role in the way consumers live, acquire information and interact with brands. I strongly believe in the power of delivering an integrated message to consumers across all channels in a brand's arsenal. Businesses that recognize the importance of this will reap the rewards.

Skill Sets Required to Manage the Hotel's (Digital) Customer Touchpoints: Collaboration Necessary

Hotel Business Review by hotelexecutive.com·18 November 2018
The Increasing Number of Hotel's Customer Touchpoints: The customer's booking and digital connection journey changes rapidly each day as new platforms are introduced and guests continually adjust their method of connecting with brands (as well as their expectations of the hotel companies). Thus, the number of touchpoints a customer uses to contact hotels, for a multitude of actions, continues to expand. From travel agent distribution channels to social media, online travel agencies and chat bots, the guest journey is far from linear.

Form and Function: Utilizing Experiential Design and Theming to Attract Guests

Hotel Business Review by hotelexecutive.com·18 November 2018
Experiential design, what exactly is it? Well if you have ever been to an airport, hotel, casino, or even an everyday shopping mall, chances are you have engaged with this kind of design and not even been aware of it. This design discipline, which may be relatively unknown outside of architecture and construction circles, is meant to entice individual. More engaging than other types of design, it adds to the overall experience of a product or a place, just as the name implies.

3 Most Effective Ways to Retain Your Hotel Employees

Hotel Business Review by hotelexecutive.com·12 November 2018
Hiring great people is critical to the success of a hotel or hotel tech company. It takes considerable effort and money to find employees that are the right blend of cultural and experiential fit. But hiring is only one part of the human resources equation. After going to great lengths to find the right employees, it is just as critical to keep them.

Evolution of Multi-Branded Hotels

Hotel Business Review by hotelexecutive.com· 4 November 2018
Not long ago I coauthored a book published in 2012 titled Hotel Design Planning and Development, Second Edition with Richard Penner and Stephani Robson in which I wrote a chapter on Multi-branded hotels. In that chapter I described one of the newest trends in hotel development, a unique new product, that has since evolved into a significant hotel type with unique characteristics, advantages and challenges. In this article we will look at this relatively new product, how it is being developed today and what the prospects are for future development.

Room Pricing: Using Relevant Data and Machine Learning for Precise Pricing

Hotel Business Review by hotelexecutive.com· 4 November 2018
Emerging technology is always a hot topic. It's gone from Big Data to data science, artificial intelligence, machine learning, predictive analytics, and most recently, blockchain. Keeping up with these technologies is never easy, especially for the hotelier focused on running a strong, profitable operation with a memorable guest experience.

Training, Maintaining & Elevating Top Hotel Revenue Management Talent

Hotel Business Review by hotelexecutive.com· 4 November 2018
Remember that whiz kid in reservations? He had grown up with computers and seemed able to fly around the property management system with natural ease and skill. Sure, his job was just to answer calls and make reservations, but he had a knack for finding cool reports buried deep in the system. Not only that, but he had also somehow mastered Excel and was able to create dazzling charts that seemed to bring the numbers to life.

All-Inclusive Resorts Have Evolved, Tailoring Offerings to Meet the Needs of Today's Travelers

Hotel Business Review by hotelexecutive.com·28 October 2018
The travel industry is evolving at a faster rate than ever before, and Bahía Principe Hotels & Resorts is keen on catering to the discerning traveler who seeks and demands personalized services along with unique, value-driven experiences.

Four Key Areas of Waste Management in the Hotel Industry

Hotel Business Review by hotelexecutive.com·28 October 2018
A haven for road warriors, a temporary home for traveling families, a site for trade shows and conferences-hotels are all of these things and so much more. With hotel visitors coming from all over the map for all sorts of reasons, it's important to keep your eye on your hospitality facilities waste output. For most people, waste is waste no matter the shape or size and, in the end, it all winds up in the dumpster. But for the smart hotel owner and operator, that's not always the case.

Design Strategies that Promote Health and Wellness and Elevate the Guest Experience

Hotel Business Review by hotelexecutive.com·28 October 2018
As our world continues to urbanize, the theory of "biophilia" has grown increasingly important to our health and wellbeing in the built environment. Biophilia, the "love of life and living systems," is the innate human desire to connect with nature and other life forms. The concept was introduced in the 1980s by American biologist, theorist and naturalist Edward O. Wilson who studied how the increase of urbanization has led to a disconnection between people and the natural world.

The Benefits of Site Integration in Hotel Design

Hotel Business Review by hotelexecutive.com·22 October 2018
One of the first considerations for architects when designing a hotel is effective site integration to ensure its success, not only as a business, but within the community in which it exists. The most important considerations when applying site integration in a hotel's design are the building's overall visibility and accessibility, while also incorporating local inspiration and environmental influences in the design. A designer's skills, creativity and mindfulness produce opportunities to build hotel interiors and exteriors that reflect and make use of local surroundings, while deeply enhancing the overall guest experience.

The Benefits of a Programmatic Performance Marketing Strategy for Hotel Brands

Hotel Business Review by hotelexecutive.com·22 October 2018
With the holiday season quickly approaching, hotel and travel brands need to be stepping up their digital marketing to drive sales and capitalize on one of the busiest travel seasons. From Labor Day weekend until the winter holidays, travelers will be booking flights and hotel rooms by the masses. Busy as it may be, fall is the perfect time for hotel brands to implement new ways to drive sales and increase revenue. And, one of the more beneficial tactics marketers should be considering is utilizing a programmatic performance marketing strategy with a strong emphasis on native search.

9 Common Mistakes Hotels Make When Preparing for Weather Emergencies

Hotel Business Review by hotelexecutive.com·22 October 2018
You didn't have to be in Houston or Florida to understand the colossal impact of hurricanes Harvey and Irma. Those two weather-related disasters fueled the most expensive hurricane season ever in 2017, totaling $202.6 billion in damages in the United States alone.

Total Revenue Management for Limited-Service Hotels

Hotel Business Review by hotelexecutive.com·15 October 2018
Two major challenges come to mind when it comes to maximizing revenues for limited-service hotels. The first challenge is that some revenue managers may feel that they don't have the same opportunities to maximize multiple revenue streams as in a hotel that offers F&B, Spa or Golf. While full-service hotels can rely on these additional services to enhance overall revenue, the perception is that this is generally unavailable to limited-service properties. They might be able to boost revenue with some limited amenities, but often those are offered gratis.

Technology to Reach Your Hotel Revenue Potential

Hotel Business Review by hotelexecutive.com·15 October 2018
Aside from their guest and overall customer experience, we can likely agree that hotel partners also care strongly about their revenue performance and how they fare against their competitive set. Hotel revenue management has been around for more than 30 years, yet adoption of revenue management technology has been slow – despite the importance of revenue performance as a top principal– with less than three percent of hotels globally leveraging it. Hotels today are often missing valuable access to rich information on competitive sets, market demand scores, pricing calendars and more, which can put them at a disadvantage.

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