The Evolution of Consumption and the Future of Reporting Standards in Lodging
HFTP CEO Frank Wolfe writes that his association, in partnership with AHLA and the Global Finance Committee (GFC), is modernizing the Uniform System of Accounts for the Lodging Industry (USALI®) to its 12th edition to address evolutions in information consumption and energy/resources use. This requires a shift from traditional learning methods to an interactive, online platform accessible on digital devices, making use of cloud-based publishing...
Two clear objectives emerged when we contemplated the future enhancement of operational information and reporting standards for the lodging industry, objectives designed to address evolutions in consumption – specifically, that of information in the digital age, and that of energy and resources.
For starters, traditional learning and referencing have taken place within the pages of a printed textbook. This is no longer standard practice, as more often the modern information seeker turns to their computer, phone, or e-reader to source content digitally. Additionally, it is progressively evident that the intricately connected, globalized hospitality industry necessitates communication, collaboration, and interfacing, wherever and whenever possible.
The Hotel Yearbook 2023 - Annual Edition
As we have embarked on 2023, it is evident that the hotel industry has made a robust recovery from the
pandemic.
Occupancy and pricing have returned to their pre-pandemic levels. However, the future of our
industry is contingent
on how nimble the hospitality sector can be in adapting to ongoing innovation, changing market
conditions, evolving
consumer preferences, new staffing challenges, and sustainability realities. These uncertainties are
the new normal
in an unpredictable world.