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HFTP Research Institute

Get answers to your hospitality finance and technology questions from the HFTP Research Institute. Find resources and research projects to benefit the HFTP membership.

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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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