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HFTP Research Institute

HFTP Research Institute. Know Your Benefits!. Q & A. Where is the HFTP Research Institute located? University of Houston In what year was the HFTP Research Institute established? 2001 How many people work at the HFTP Research Institute? Just Me!. Introduction.

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HFTP Research Institute

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  1. HFTP Research Institute Know Your Benefits!

  2. Q & A • Where is the HFTP Research Institute located? • University of Houston • In what year was the HFTP Research Institute established? • 2001 • How many people work at the HFTP Research Institute? • Just Me!

  3. Introduction • The RI was established in January 2001 • Purpose • Help HFTP reach its Big Audacious Goal of being the primary resource on hospitality finance and technology • Basic Responsibilities • Answer questions from the membership • Conduct the HFTP Compensation and Benefits Survey

  4. Resources • Published Literature • University Databases/Resources • Journals • Magazines • Textbooks • Internet • Industry Professionals • HFTP Members

  5. Member Questions • Types of Questions • Accounting • What is the common practice for accounting for chargebacks at hotels? • Finance • Do you have any reports or financial data on golf clubs or golf courses? • Technology • I am working on an IT strategic plan. Do you have any resources to help guide me through the process? • Tax • What are the advantages and disadvantages of being a 501c(3) vs. a for profit corporation? • Legal • I am researching Whistle-Blower companies for my company. Could you provide a list of companies that work with the hospitality industry? • Human Resources • Can you provide a sample job description for a hotel controller or director of finance?

  6. Limitations • Vendors • Can you recommend …? • Published Literature • What is the turnover ratio for items in the hotel gift shop? • Tax • If our club, in Florida, only offers valet parking is the fee you charge for the labor of the valet parkers taxable? • Legal • Can you provide advice on …? • Pricing • We need to purchase a new PMS. Can you tell us how much it will cost?

  7. Research Projects • How are research initiatives chosen? • Multiple questions over time • Benefit a large section of the HFTP membership • Easily researched • How is the research conducted? • Survey Research • Literature Review • How many projects per year? • Typically 3 projects by the RI

  8. Recent Research • Traveler Technology Survey • What technologies are travelers using/bringing to hotels? • Hotel Transition Checklist • Developing a master checklist for hotel operators • IT Managers • What they wish others knew/understood about IT which would make their jobs easier. • Compensation and Benefits Survey • Salary and compensation survey of the HFTP membership

  9. Traveler Technology SurveyRespondent Information • Distribution • March 2013 • HFTP Membership • Responses • 59%: Accounting/Finance Positions • 11%: Technology Positions • Location: • 78%: USA • 10%: Canada • Others: Australia, El Salvador, Hong Kong, Japan, Macau, Mexico, Spain, St. Maarten, and The Netherlands • Industry • 33%: Lodging • 24%: Clubs • Age Range: • 5%: Under 24 • 13%: 24 to 33 • 20%: 34 to 43 • 50%: 44 to 63 • 13%: 64 to 73

  10. Traveler Technology SurveyGuest Technologies • What are the top deciding factors for hotel guests when they are choosing a place to stay? • 82%: Free WiFi • 62%: Free Breakfast • 32%: In-room Technology • What technologies would guests prefer to see in their hotel guest room? • 95%: WiFi (reliable) • 88%: Television • 43%: Alarm Clock • 30%: iPad or Tablet PC • What type of television should I be investing in to put into our hotel guest rooms? • 80%: HDTV • 65%: Flat Screen • 32%: Smart TV/Internet TV? • How many mobile devices are guests carrying with them and utilizing while staying in our hotel? 3 devices or More • 95%: Mobile/Smartphone • 67%: Laptop Computer • Should we provide each guest room with an iPad or tablet computer for the guests use? • 55%: Yes

  11. Traveler Technology SurveyMobile Technology and Social Media • How many applications do you have installed on your mobile phone? • 64%: 40 or less mobile apps • 25%: 40 to 80 applications • 11%: More than 80 applications • What mobile apps do you use the most? • 62%: Facebook • 47%: Google Search • 40%: The Weather Channel • 29%: LinkedIn • 22%: Pandora • 15%: Twitter • What social media websites do travelers utilize when determining where they will stay while traveling? • TripAdvisor • Expedia • AAA • Orbitz

  12. HFTP Compensation and Benefits Survey • Biannual Survey • Sent to HFTP Membership • How many of you have filled the survey out in the past? • Regional Surveys/Reports Available

  13. Other Duties as Necessary • Chapters • Staff Advisor for the UH Cougar Chapter • Greater Houston Chapter Board Member • Work on various HFTP Initiatives • NCA Technology Project • Global Accounting Project • USALI Research • Research Request Evaluations • Q&A for The Bottomline

  14. ProLinks Session • Topic: Presenting Financials • Speakers: Tanya Venegas and Arlene Ramirez • November 5th • Time: • 10 pm Central or • 9 am Hong Kong!

  15. Future Research Initiatives • We Need Your Help! • Compensation and Benefits Survey • Please complete and return • Research Ideas • Please write down an idea on the cards provided

  16. Than you for your time! Questions?

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