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    HITEC HOUSTON

    Hospitality Industry Technology Exposition & Conference

    June 18-21, 2018

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    Dubai, UAE

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Letter from the HFTP Global President: HFTP Builds on Past Initiatives to Forge Ahead to the Future

HFTP Connect 11 May 2018
The HFTP Global board, advisory councils, research centers, and its Austin, Texas-based staff work hard year-round to create and implement wholly new ventures. This is evident with the introduction of brand-new global conferences, digital resources, industry research and more.

What to Expect at HITEC Houston 2018: Elite Education, Exhibits, E20X and More

HFTP Connect 20 April 2018
HOUSTON: A booming cosmopolitan city that is home to more than 2 million Texans, NASA’s famous Johnson Space Center, and — in just two short months — the world’s largest hospitality exhibition HITEC®. In late June, scores of hospitality technology and finance professionals will travel to Texas’ most populous city for first-rate industry education, networking, and an unparalleled expo showcasing the latest in products and services from around the globe. This stellar event hosted by HFTP will take place June 18-21, 2018 at the George R. Brown Convention Center.

HITEC Amsterdam 2018: Why I Will Definitely Be Back

HFTP Connect 19 April 2018
This has been my first HITEC conference, and it has been one of the most informative three days I have had since I entered the world of hospitality a couple of years ago. While I prepared for the conference, I read up on the latest technological innovations, and on startups trying to overthrow OTAs. I read about revenue management and machine learning. Stepping off the plane in Amsterdam, I was confident I had done my homework and was ready to keep up with all the technical conversations I was going to have.

AI and Voice Recognition Explored at HITEC Amsterdam

HFTP Connect 12 April 2018
I have had the pleasure of a front row seat at a very special panel discussion. The hospitality industry’s top tech executives got together at HITEC Amsterdam today to discuss artificial intelligence (AI) and voice recognition. The challenge: to make sense of all of the changes happening in information technology and articulate value-adding solutions for the hospitality industry. How do we turn a land of confusion into a land of opportunity? The panelists had a few secrets to share.

Translation Services: Lost (and Found) in Translation

HFTP Connect 11 April 2018
Here are some dots that you can easily connect: globalization, emerging markets and international travel. You may think “Oh, what a cliché!” Well then, you must have noticed the need skyrocketing for reliable translation, especially if you are in the travel or hospitality industries.

The Art of Pitching: Is it Overrated - or Essential?

HFTP Connect 10 April 2018
Pitching… that thing we force notoriously introverted geeks to do for funding. The main idea is that an entrepreneur — unless his name is Elon Musk or Tony Stark — has limited resources and needs the financial support of pockets that are substantially deeper than his own. If you, as an aspiring business leader, want potential partners and investors to buy into your idea, you need to sell it in a concise, explicit and exciting way to a floor of overconfident, seen-it-all financiers who might not know much about the technical complexities of that next big idea you’re certain to have found. Written By: Sherif Mamdouh, official guest blogger for HITEC® Amsterdam 2018

Letter From the HFTP Global President: HFTP's Latest Initiatives Fit Nicely into the Overall Picture

HFTP Connect 13 March 2018
When I first assumed my role as president of the HFTP Global board four months ago, my promise was to continue to deliver on those initiatives that have been put forth in the past several years. In addition, I stated that I would work together with the board, councils and HFTP team to address any relevant issue as the year moved forward. I knew that progress would be necessary — no, critical — for success. Written By: Timothy G. Nauss, CHAE

Presenting: The Names You Should Know at HITEC Amsterdam 2018

HFTP Connect 5 March 2018
Spring should be in full swing when HITEC® Amsterdam 2018 takes place this April — which is just six short weeks away. If you would like to attend HFTP’s European extension to the world’s largest and oldest hospitality exposition and conference brand, the early registration deadline is approaching fast. Register by this Saturday, March 10, 2018 to secure your spot at the best possible price. HITEC Amsterdam debuted last year to immense success, with more than 1,100 hospitality industry professionals from around the globe gathering together to explore the industry’s best practices and latest innovations.
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What are the Pros and Cons of Contact Center Outsourcing?

HFTP Connect 13 February 2018
Competition for customers is fiercer in the hospitality industry than in any other. As today’s fickle customers come to expect more and more from hospitality service providers, the success of your brand is dependent on providing the best customer experience possible. Because your contact center is the front line of your company’s customer support, the question of whether to outsource any of these activities must be considered carefully, not only from the perspective of your customers, but for its impact on your business operations and the bottom line.

Six Months Later: How E20X Helped Elevate a Startup

HFTP Connect 9 February 2018
You are here:HomeBlogSix Months Later: How E20X Helped Elevate a Startup February 9, 2018 Six Months Later: How E20X Helped Elevate a Startup Posted by Briana Gilmore HFTP is excited to host its innovation pitch competition Entrepreneur 20X (E20X) again this year at the world’s largest hospitality technology exposition — 2018 HITEC® Amsterdam and HITEC Houston. In anticipation, HFTP was interested to learn what life is like for an E20X award winner after the competition. So, we reached out to Arrivedo Co-Founder & CEO Alonso Franco and his team to find out how things have changed for Arrivedo since receiving the People’s Startup Award during E20X HITEC Toronto in 2017.
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GDPR in Hospitality: Vendor Compliance Query Template Available to Industry

HFTP Connect 3 January 2018
As a professional association, Hospitality Financial and Technology Professionals (HFTP®) created a group of hospitality industry experts to develop hospitality-specific guidelines to assist with preparation for General Data Protection Regulation (GDPR) compliance. The HFTP Hospitality DPO/GDPR Task Force and its members have been working on industry awareness along with tools and resources for the industry.
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Strategy for Success: HFTP Annual Convention

HFTP Connect 23 October 2017
If you are like me, you are thankful to be part of a supportive, professional industry with ample room to learn and grow. We are in a time in the history of hospitality when technological advancements are changing the industry at a swift pace. It seems that the next new thing to learn is launched daily.
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Dive in and Discover at the 2017 Annual Convention

HFTP Connect 18 October 2017
As a first-time participant to the HFTP Annual Convention (possibly the first from the Middle East area), I will be looking for all of the insights the event will provide during its three-day agenda later this month. I believe this convention will be the best of its kind (those of an educational and informative nature) and provide tremendous networking opportunities.
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Revenue Optimization: Driving the Bottom Line

HFTP Connect 5 October 2017
In today’s competitive world, a great management team focuses on optimizing revenue in every department — including rooms, spa, ski, golf, ticketing, food and beverage, and retail. Where is the additional revenue going to come from? You need to track the success of upselling, promotions, cover charges and more. In addition to maximizing revenue, it is also crucial to control costs, from monitoring fixed expenses to labor costs. At the end of the day, accurately tracking data throughout all areas is a necessity.
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Are You Ready for the New Revenue Recognition Accounting Standards?

HFTP Connect 27 September 2017
Revenue recognition standards have been converged and are now changing for both IFRS (IFRS 15) and US GAAP (ASC 606-10) beginning in 2018. US GAAP will allow non-public companies to transition beginning in 2019. After receiving input from the HFTP Hotel Advisory Council, the American Hotel & Lodging Association Financial Management Committee recently issued an article published on Hotel News Now on the change to US GAAP:
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HFTP Hospitality DPO Task Force Outlines Objectives as Industry Prepares for GDPR May 2018 Deadline

HFTP Connect 8 September 2017
The European Union (EU) General Data Protection Regulation (GDPR) that was announced in April 2016 put in place a substantial mandate on EU-based organizations, as well as any organization doing business with EU citizens. The GDPR will be in force in the EU starting May 25, 2018 posing significant challenges to the hospitality industry as one that manages a vast amount of personal data. To address this question, Hospitality Financial and Technology Professionals (HFTP®) united a multidisciplinary team of experts to address the different facets of the impact of the GDPR in the hospitality industry. The task force met in July 2017 to prepare for the upcoming deadline.

What I Learned at HITEC Toronto

HFTP Connect 6 July 2017
Written By: Ron Hardin - Confession: I can not stop playing with the fidget spinner I picked up at the ALICE booth. My wife, a well-known “anti-fidgeter” (ask my kids), rolled her eyes when she saw it come out of my HITEC Toronto swag bag. Correction: In my previous blog post (HITEC Toronto: Our Story Thus Far), I mentioned the “sunset over Lake Erie” as seen from the CN Tower. My gentle readers are either all too polite – or slept through geography – because Toronto is on Lake Ontario, and the lake is southeast of the city – not southwest – so it was technically “sunset over Kitchener.” It was lovely, nonetheless.

13 E20X Pitches and One Home Run

HFTP Connect 29 June 2017
Written By: Jennifer Jones - As a native to Baltimore, Maryland USA, I was excited to see that the Orioles are in town this week playing the Blue Jays. Now that I reside out west, I do not get to see them much anymore. Granted with a full schedule of meetings, sessions and receptions, sneaking out of HITEC Toronto to catch a few innings just was not possible. However, I made a better decision with my schedule and decided to attend the Entrepreneur 20X (E20X) hospitality technology pitch competition. This was my first time watching the event, and I encourage everyone to make sure that they make E20X a vital part of their HITEC ritual every year.

HITEC Toronto: Our Story Thus Far

HFTP Connect 28 June 2017
The curtain descends on the second day of HITEC Toronto (#HITECtor), and it has been a busy couple of days. This is my first visit to Toronto, and I hope I get to come back to Canada someday when I have more free time. With the exception of a few showers, we have been blessed with lovely weather. For those of us who have attended this mid-summer event in more southern climes in recent years, the moderate temperatures have literally been a refreshing change.
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Getting Organized for HITEC Toronto

HFTP Connect 22 June 2017
I have attended HITEC now for several years, as both an exhibitor and an attendee. Regardless of my role there, I have learned one valuable lesson: take a vacation after to catch up on sleep! I know that is not realistic, but if my day-to-day job could stop for a week after to allow me to sort through all of the business cards and collateral I collected, not to mention the overflow of emails that came in while at the show, I would not dread the post-HITEC “hangover.”
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Why HITEC Toronto Is Important

HFTP Connect 22 June 2017
It sounds like one of those essays you had to write in school: “what I did on my summer vacation,” “what extracurricular activities mean to me.” It also sounds blindingly obvious – of course HITEC Toronto is important. After all, it is by far the world’s largest and oldest hospitality technology exposition and conference brand. HITEC Toronto is also historically significant, being the first-ever HITEC North America event to be held outside of the United States. #HITECtor will take center stage from June 26-29, anchoring a trilogy of international events in 2017 that include the debut of HITEC Amsterdam and HITEC Dubai. So, HITEC is clearly a big deal. But why?

Dispatches from HFTP Global: CHTA Disruptive 2017 Innovation and Technology Expo

HFTP Connect 9 May 2017
This is the second time I have attended a China Hospitality Technology Alliance (CHTA) event. Last month, I attended the CHTA Disruptive 2017 Innovation and Technology Expo from April 26-28, 2017 located at the Marriott QianJiang, HangZhou in Hangzhou, China. Featured exhibitors, impressive talks and discussions on heated topics contributed to a successful exhibition in the beautiful city. First introduced by Clayton M. Christensen in 1995, “disruptive innovation” – the event’s concept – is an innovation that provides different values and significantly affects the existing market. This might be the reason why the organizer chose this theme.
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Revenue Recognition: Comments Due June 1, 2017 on Implementation Issues Facing the Airlines, Gaming, Hospitality and Timeshare Industries

HFTP Connect 26 April 2017
Since 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together to bring the guidance provided in the United States General Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS) in closer alignment. Historically, the U.S. GAAP provided complex transaction and industry specific revenue recognition guidance. For example, U.S. GAAP consisted of various revenue recognition requirements for specific transactions and industries which resulted in differing revenue recognition practices for similar transactions.
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Dispatches from HFTP Global Director: HITEC Amsterdam 2017

HFTP Connect 11 April 2017
So the day finally arrived: HITEC Amsterdam. After many strategy meetings and discussions about growing HFTP and HITEC, one of the industry’s most prominent shows, on March 29, 2017 HITEC Amsterdam kicked off to recording breaking attendance. How can one say it is record breaking when it is the inaugural event? Well, as a finance and technology group there are always goals and metrics established, and while forecasting is something we do well, we exceeded our expectations. Therefore, it was record breaking!
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How to Make Hotel Technology Profitable

HFTP Connect 3 April 2017
Hotel tech professionals from all over the world gathered at HITEC Amsterdam last week. After dozens of informative sessions, inspiring keynote speeches and one thrilling hotel tech start-up pitch competition, one thing was very clear: The number of companies offering technologies that can benefit a hotel business is overwhelming. How is a hotelier to know which is the right piece of technology to implement? To help with that quandary, here are a couple of takeaways from the 45th HITEC—also the first ever to be held in Europe.

Entrepreneur 20X: Wi-Fi, Upselling and Digitalizing Daily Operations

HFTP Connect 29 March 2017
On Tuesday, March 28, 2017, HFTP’s hospitality start-up pitch competition Entrepreneur 20X (E20X) took place in Europe for the first time at HITEC Amsterdam. Each participant had four minutes to pitch their business concept, followed by four minutes for the expert judges panel to ask questions. I did notice that most of the start-ups were evolving around one (or more, in some cases) of three main hotelier-focused goals.

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