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Opinion Article

On-the-Go and In-the-Know: Why Mobile Procure-to-Pay is the Key to Gaining a Competitive Advantage in Hospitality

Effective procurement departments have a significant positive impact on hotel performance. To endure persistent industry challenges—such as price volatility, tight profit margins, evolving guest preferences, and labour shortages—hoteliers must fine-tune their procurement operations to ensure greater efficiency, agility, and cost savings.

Johannes Vocke
By Johannes Vocke, Chief Financial Officer, FutureLog AG
Opinion Article

10 Must-Have Features to Look for in E-Procurement Software for Hotels

In recent years, hoteliers have entered a period of unexpected disruptions. To address these changes, leading chains and independent operators are looking to integrate modern technologies into their operations and guest offerings. According to Deloitte, over half of hoteliers expect automation to improve their bottom lines as well as guest experiences.

Johannes Vocke
By Johannes Vocke, Chief Financial Officer, FutureLog AG
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Opinion Article

Streamlining Success: The Crucial Role of Hotel Finance System Integration in 2024

As the travel market continues to evolve, with occupancy levels exhibiting extraordinary growth in most major markets around the world, today’s hoteliers are facing an array of challenges in managing their operations efficiently. From guest experience enhancement to the digitization of financial and operational management, ensuring the seamless integration of disparate property systems has become paramount for success. Particularly within a hotel organization’s finance and accounting departments, the importance of system integration cannot be overstated. Ensuring that all elements of the tech stack complement each other’s capabilities not only streamlines critical property processes, but also enhances accuracy, transparency, and overall productivity.

Jill Wilder
By Jill Wilder, President, Aptech
Opinion Article

Gaining Control of Utility Costs

Over the past four years, utility costs at U.S. hotels have increased at a pace greater than total operating revenue. As a result, utility department expenses increased from 2.9 percent of total revenue in 2019 to an estimated 3.3 percent in 2023. As hotels have struggled to recover from the pandemic, any rise in cost ratios is an area of concern for owners and operators.

Robert Mandelbaum
By Robert Mandelbaum, Director of Research Information Services, CBRE Hotels
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Press Release

Meet the Money 2024 Program Launched!

The Meet the Money® 2024 program has launched on MeetTheMoney.com, and we’re excited to bring you a conference packed with the experts you want to hear from. Join us in Los Angeles for three days of high-level discussion panels and special industry presentations focused on financing, investment, deal-making, and success in this year’s market.

JMM
United States
Supplier News

FutureLog Awarded Prestigious International Standard on Assurance Engagements ISAE 3402 Type I and II Certifications

FutureLog, the leading provider of innovative cloud-based procure-to-pay solutions for the hospitality industry, is proud to announce that it has achieved the prestigious International Standard on Assurance Engagements (ISAE) 3402 Type I and Type II certifications. Awarding the certificates demonstrates FutureLog's ongoing commitment to maintaining the highest standards of operational efficiency, risk management, and client data security.

FutureLog AG
Press Release

IHG Continues to Consolidate Leading Position by Strategically Fostering Market Growth

As one of the first international hotel companies to enter the China market, IHG Hotels & Resorts (IHG) upholds its "in China, for China" commitment. With a leading position in the industry, IHG anticipates trends in the tourism market and guest needs. Recently, IHG concluded its "Dream Bigger, Travel Bigger” 2024 Greater China Expo Roadshow in Beijing, Shenzhen, and Shanghai. This initiative further bolsters the revival of the business travel market and showcases IHG's robust expansion across Greater China region.

IHG
Opinion Article

Hunter Conference 2024 Takeaways

The Atlanta Marriott Marquis was bustling this week with another successful Hunter Hotel Investment Conference. Kudos to the Hunter and Marriott teams for executing an extraordinary event! Some key takeaways from the HVS brokerage and consulting staff members who attended the conference are summarized in this article.

Eric GuerreroCourtney VrisJosh Williams
By Eric Guerrero, Courtney Vris, and Josh Williams