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Opinion Articles

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
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
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
Opinion Article

To Save Lots of Money ($$$) in Federal & State Income Taxes You need an Appraisal/Valuation/Cost Segregation Team!

As Sophisticated Lodging Professionals, you know the Tax Savings strategy and benefits of a Quality Cost Segregation Study. You know, and understand, that a Quality Cost Segregation Study looks at all Commercial Non-Residential 39-Year Property, and all Commercial Residential 27.5-Year Property, and reclassifies a percentage (%) of that Property away from long-lived 27.5 & 39-year Tax Depreciable Property to short-lived 5, 7 & 15-year Tax Depreciable Property.

Walter O'Connell
By Walter O'Connell, Managing Director of Hotel Valuation & Cost Segregation Services, LLC (HVCSS) and a consultant, Cayuga Hospitality Consultants
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Opinion Article

Hotel Insurance – A Rising Expense With Limited Control

For most U.S. hotel owners and operators, one of the major challenges in 2023 has been the need to control expenses amidst slowing revenue growth. Through September of 2023, the properties in CBRE’s monthly survey of hotel operating statements have seen their total operating revenues increase by 7.4% year-over-year, while total operating expenses1 grew by 10.0% during the same period. The net result was a decline in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 0.2%.

Robert Mandelbaum
By Robert Mandelbaum, Director of Research Information Services, CBRE Hotels
Opinion Article

5 Hospitality Procurement Trends to Watch in 2024 and Beyond

Volatile prices, extended lead teams for goods and services, and keeping up with guest preferences are just a few challenges that continue to impact hotel supply chains years into pandemic recovery. For leading hoteliers, investing in digital procurement innovation is crucial to addressing these concerns — not just as a way to bounce back from COVID-19 but as a lasting component of business growth, resilience, and prosperity for the hotel industry.

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

Reducing Procurement Fraud Risk in Hospitality With Procure-to-Pay Automation

When it comes to fraud risk, one area of particular concern is procurement. In recent years, hotels have faced myriad challenges, including supply chain disruptions, economic volatility, and labour shortages. As travel volumes rebound, many hotels are concentrated on meeting evolving consumer expectations while ensuring financial stability. This focus means that many hotels are lacking in their procurement due diligence, creating lucrative opportunities for fraudsters. It’s estimated that hotels lose between 5% and 6% of their annual revenue due to fraud.

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

FutureLog's Visionary CEO Frank Dierberger Shares Insights on Digitising and Automating Hospitality Procurement to Be Future-Ready

Business is, at its core, about problem-solving. To be a good entrepreneur is to be a good problem solver. To create a successful brand is to see a gap in the market – an opportunity to bring disruption with a new solution or build upon what currently exists in a meaningful way. In this sense, leaders in any industry are fluent in the language of their customers’ problems, wants, and needs. They know what keeps them up at night, and they make it their mission to help them rest easy. In the case of Frank Dierberger, the CEO at FutureLog, the mission was simple on paper but lofty in practice – solve the procurement problem by digitising and automating the procurement process.

Alan Young
By Alan Young, VP, Strategy | Hospitality, Infor
Opinion Article

The Hotel Media Review of 2023

The year-in-review of hotel media, what was top of mind and who stole the headlines. The annual review is back, in a year of come-back things have shifted a lot. It is clear that what hoteliers have been reading was back to the usual concerns, trends, OTAs and more. A big thank you to hospitality.today and hospitalitynet.com for providing data on the most read articles on their websites.

Martin Soler
By Martin Soler, Partner, Soler & Associates
Opinion Article

The return of the Chinese tourist?

This second part of EHL Institutional Visibility’s three-part series on China looks into the long-awaited return of Chinese tourists. It also addresses shifting trends in Chinese travel. We turn to Dr Yong Chen, Associate Professor of Economics at EHL Hospitality Business School, for insights.

Andrew Brenner
By Andrew Brenner, Andrew Brenner, Translator and Editor, EHL
China