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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.

The HFTP Middle East Research Center: March 2019 Bulletin

HFTP ·13 March 2019
The Dubai HFTP Research and Innovation Center at the Emirates Academy of Hospitality Management has decided to briefly discuss two relevant topics: The Res-Tech Rant and the upcoming Expo 2020. The HFTP Research and Innovation Center hopes this sparks conversation amongst HFTP Dubai Chapter members.

PRESENTATION: Sick and Tired - Paid Sick Leave Laws & the Americans With Disabilities Act

HFTP · 1 June 2015
By Tracy Thomas Boland, Morgan, Brown & Joy, LLP - Paid Sick Leave Laws & the Americans With Disabilities Act. HITEC 2015, Summer 2015

Just the Meaty Bits - A primer on third-party food and beverage agreements

HFTP · 1 December 2013
By David Denney and Deep Patel. While traditionally hotel F&B operations have been viewed as a low-margin or unprofitable service, bringing in an established restaurateur or food and beverage operator to manage all or part of the hotel's food and beverage facilities could prove to be a wise decision from both an operational and profit perspective. Once a decision to bring in a third-party F&B operator has been made, the primary question becomes how to structure the deal. This article reviews three main business structures a hotel can consider when formalizing its relationship with an outside party: a traditional lease, a restaurant management agreement or a license agreement. It is important to understand the basics of how these structures are typically formed, including the pros and cons of each prior to making a decision on your food and beverage service arrangement. Bottom Line Vol 28, No1; Winter 2013.

Take Control of Your F&B Inventory

HFTP ·11 November 2013
The critical information an automated inventory system provides, plus the efficiencies and productivity it supports, will positively affect your bottom line over and over. By Jay Williams. Today's food and beverage inventory systems provide true ROI and serve up operational efficiencies that have a positive impact on any hospitality organization's bottom line. This article covers new strategies and techniques that will help you take control of your F&B inventory. Bottom Line Vol 28, No4; Fall 2013

Keeping a Property at the Ready

HFTP · 1 July 2013
Maintain a safe and at-ready environment with an informed and trained staff, a thorough crisis plan and the use of accessible technologies. By Frank Wolfe, CAE. There has been much mention after the terror attacks in Boston about the hospitality industry being "soft targets" for terrorists. While it is true that properties are open to the public 24 hours a day, have lots of luggage/packages/gifts coming in and out, and host many transient customers, this article contends that properties are a lot more secure than the public realizes. Bottom Line Vol 28, No3; Summer 2013.

A Look at HFTP Student Chapters - HFTP students see first-hand the latest in hospitality technology by volunteering at HITEC

HFTP · 1 July 2013
By Justin Taillon HITEC 2013 has come and gone, and for many HFTP students this provided an exciting HITEC 2013 has come and gone, and for many HFTP students this provided an exciting opportunity. Each year the HFTP student members are offered the chance to volunteer at the event in exchange for registration and accommodations. This gives us the chance to get educated on the newest technology trends, see friends, work towards achieving CHTP and CHAE certification and visit the showroom floor of the world's largest hospitality technology expo. This year 18 student members attended from: University of Guelph; University of Houston; University of Nevada, Las Vegas; Hong Kong Polytechnic; Lynn University; University of South Florida and Penn State University. We began this column in the last issue of The Bottomline to highlight the activities of the student chapters. As part of this series, I intend to highlight one of the chapters in each issue, and this month we profile one of our international chapters: The University of Guelph which is outside of Toronto, Ont. Canada. I spoke with in-coming and out-going student chapter presidents Fanyi Wei and Brianna Barraco about their experiences with HFTP over the past couple years. Bottom Line Vol 28, No3; Summer 2013

Why Are We Losing Money in Food and Beverage?

HFTP · 1 June 2011
Stephen R.J. Robinson, CPA & Tammy Tassitano, CPA - Club dining is a member amenity, not a restaurant facility - The Bottomline Vol 26, No 4; June /July 2011

Why Are We Losing Money in Food and Beverage?

Club dining is a member amenity, not a restaurant facility

Establishing the Selling Price

HFTP · 1 October 2009
Clement Ojugo - In this article on food and beverage cost control, the author explains how to use break-even analysis to determine when a project is a reasonable or worthwhile undertaking. - The Bottomline Vol 24, No. 7, October/November 2009

Marginal Contribution Break-Even Point - Knowing the relationship between cost, volume and profit is your most powerful tool for making food and beverage decisions

HFTP · 1 August 2009
By Clement Ojugo. The following scenario helps you understand CVP relationships: Assume due to the recession, you closed a restaurant or profit center within your hotel and all leading periodicals have declared that the recession is over. The situation now requires you to consider whether to reopen your restaurant. Given the above scenario, some restaurants delay their decision, waiting too long to be assured of at least breaking even because they calculate their "full costs" should they reopen. Undue delay extends the agony of laid-off employees and causes the loss of market share as the recovery proceeds. Conversely, rushing to reopen and book new business at prices that may fail to cover the variable costs of operation can cause further damage to the financial health of the business. The middle ground is to reopen at the marginal contribution break-even point (MCB), where the incremental revenues generated by reopening equal or exceed the direct and indirect costs of reopening. The important thing to remember is to avoid using full-cost accounting to make that decision. This article reviews simple calculations to make decisions based on the following: how costs and revenues actually behave in response to a change in business variables, such as volume, price or product mix. The Bottom Line Vol 24, No5; Fall 2009.

Club Inventories

HFTP · 1 April 2009
Ready to Serve. By Agnes L. DeFranco, Ed.D. CHAE, CHE and Raymond S. Schmidgall Ph.D., CPA, CHAE. Social clubs, like restaurants, hotels and many retail operators carry thousands of dollars of inventory in anticipation of serving food and beverages to their members. While food and beverage inventory are the ones most managers have in mind, in the club business there is also substantial inventory of sports apparel and equipment. These items tend to have a wide-range of price mark-ups, and carrying certain brand or products is expected. In addition, the beverage inventory in a club is also managed differently from that of a food outlet of a stand-alone or chain restaurant or a hotel. In the club business, membership services and satisfaction is the key, so clubs sometimes carry more beverage inventory to be proactive and anticipate their members' needs. Managers of clubs, including the general manager and managers of departments selling goods and services to their members should be most interested in knowing how other clubs are managing their inventories. Clearly, the more efficiently inventories are managed the greater the profits to be realized. This article answers the following questions: What are the critical questions that club managers should ask? How can he or she work with the CFO or controller at the club to make sure the inventory is managed efficiently? Bottom Line Vol 24, No2; Spring 2009.

Club Inventories -- Ready to Serve

HFTP · 1 April 2009
Agnes DeFranco, Ed.D., CHAE, CHE, Raymond S. Schmidgall, Ph.D., CPA, CHAE- This article presents the results of a study of US clubs' and outlines how managers can manage inventories more efficiently.

Liquid Assets in a Bottle - Wine Purchases, Pricing and Inventory Practices at Private Clubs

HFTP ·21 October 2008
By Raymond S. Schmidgall, Ph.D., CPA, CHAE and Carl P. Borchgrevink - This study aims to several social club financial executives' questions regarding the purchasing and selling of wine at these clubs. Questions included the following: What percentage of your beverage inventory is wine? Of the wine inventory, what percentage includes wines held for more than a year from when it is purchased? How is wine priced for sale to members of your club? Are wines held for more than one year priced differently than wines purchased recently (less than one year)? Are members permitted to bring their own bottles of wine to the club? If members are permitted to bring their own bottles of wine to the club, is there a corkage charge? Bottom Line Vol 23, No 1; February/March 2008

Research, Reports and Comparables: Part III - A Quick Resource Guide for the Restaurant Industry

HFTP ·21 October 2008
By Tanya Venegas, MBA, MHM - Venegas provides examples of publications and organizations that contribute information to the food service industry. One such example is the National Restaurant Association, the primary resource for restaurant operators. This organization publishes multiple books, report, and industry statistics. Bottom Line Vol 23, No 3; June/July 2008

Food and Beverage Control Technology

HFTP · 1 October 2008
Bill Schwartz, CHTP - In this technology focused article on inventory control, the author provides information on breaking the spreadsheet habit. - The Bottomline Vol 23, No. 6, October / November 2008

From a Bookkeeping to a Control Aim

HFTP · 1 August 2008
Bill Schwartz, CHTP - In this article on food and beverage inventory control, the author discusses implementing and documenting controls in the food and beverage department which results in actual savings. - The Bottomline Vol 23, No. 4, August/ September 2008

Research, Reports and Comparable Part III

HFTP · 1 June 2008
Tanya Venegas, MBA, MHM - In this Q & A from the HFTP Research Institute, the author presents a quick resource guide for the restaurant industry. - The Bottomline Vol 23, No. 3, June/July 2008

Liquid Assets in a Bottle

HFTP · 1 April 2008
Raymond S. Schmidgall, Ph.D., CPA, CHAE, Carl P. Borchgrevink - In this article on club finances and food and beverage, the author provides information on wine purchases, pricing and inventory practices at private clubs. - The Bottomline Vol 23, No. 2, April/May 2008

Food and Beverage Control Technology - Breaking the Spreadsheet Habit

By Bill Schwartz, CHTP - Traditional food and beverage control, at least for the past 20 years, has been comprised of three elements: profit and loss statements; MBWA (Management By Walking Around) and miscellaneous spreadsheets. It is important to understand that software does not control food and beverage costs. Software simply reduces the labor requirement and improves the speed and accuracy of the reports produced from which action can be taken. The introduction of food and beverage management software makes the P&L Statement less critical, gives managers some specific things to look for while walking around, and typically replaces the spreadsheet component almost entirely. Schwartz examines the resistance of upgrading the spreadsheet in the food and beverage department. Bottom Line Vol 23, No 6; October/November 2008

Counting on Technology

HFTP · 1 December 2007
By Bill Schwartz, CHTP - The Bottomline Vol. 22, No. 8. Mobile devices reduce F&B inventory effort.

Pointers for Pricing Strategies

By Tanya Venegas, MBA, MHM - The Bottomline Vol. 22, No. 7. Considerations when naming a price for food & beverage and hotel rooms.

You Can't Manage What You Can't See

By Bill Schwartz, CHTP - The Bottomline Vol. 22, No. 7. Where to look to reduce waste and improve food and beverage cost control.

Law: Must a Complaint be "Official" to Count

HFTP · 1 February 2007
By Christian Zinn - A recent court ruling illustrates why employers should address labor complaints in-house or risk outside judgement. Every state has the potential for wage and hour lawsuits based upon each individual state's wage law statutes, and how they are written. Be sure to review your state's wage law statutes prior to discharging or disciplining any employee who complains about possible state wage law violations.

Controlling Food and Beverage Inventory -- A New Way of Thinking

Bill Schwartz - The article explains how the concept of proactive control based on usage is far more effective than the concept of reactive control based on cost.- The Bottomline Vol 21, No. 6, October/November 2006

Why a Private Club is Not a Restaurant

Philip G. Newman, CPA - The author provides evidence that a club's food and beverage facility is a unique operation.- The Bottomline Vol 21, No. 1, February/March 2006

Know What's On the Menu

Franklin John P. Sikich, CPA, CHAE, Brian C. Sikich - The article summarizes the IRS's bar and restaurant audit guide.- The Bottomline Vol 21, No. 1, February/March 2006

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