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Manali Jaggi in his article "The future is here for the Hospitality Industry," highlights the importance and the benefits of Hospitality companies investing in Information Technology. He stressed that from the first point of contact; reservation to the guest's departure the role technology plays and the fact that it "expands revenue options and maintains operational efficiencies for the industry." He reported that Sukesh Jain, VP Enterprise Business, Samsung highlighted that "Technology comes in handy when we talk about personalization," which is the type of experience one aims to provide to the guest. This provides the guest with an increased customer service experience which in turn leads to customer loyalty which can only lead to financial rewards for the company. He concluded by stressing the point that the Hospitality industry must take a "proactive stance in implementing technological advances."

CHMWarnick has become the only third-party hotel asset management company providing full owner-entity accounting capabilities as it has expanded its accounting services available to asset management clients. It's ownership accounting include several services that have proven to further elevate the firm's asset management in delivering value for hotel owners.

the article highlights how companies can benefit from sustainable design and gives tips on preventive maintenance

This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.

"One goal of the new guidelines was to recognize the increasing globalization of the hotel industry, Temling said. "Many of the changes are reflective of what's happening in the world in our industry," he said. "Chains based in the (United States) have generally adopted the guidelines; that's not the problem. But we also hope chains domiciled outside this country will accept the changes outlined in the book." Some of the changes are small, but symbolic, Temling said. In previous editions of the book, accounting for some employee benefits reflected terminologies used by U.S. companies. "Up through the 10th edition, we called it FICA or social security for employees' benefits," Temling said. "This time around we call it social benefit contribution, which is more universally acceptable." Large hotel companies might have more difficulty adopting the new guidelines than will smaller ones, said Michelle Russo, founder and CEO of Hotel Asset Value Enhancement, a hotel asset management and real estate advisory company. She is a member of the financial committee that created the latest edition. "It's actually harder for larger operators because they often have many divisions," she said. Examples she cited affect reporting of telecommunications, labor and segmentation data. "We created a new (information technology) department, and in a large company that is worldwide that operates on multiple accounting platforms, the mapping process is massive," she said, adding that some companies have decided to defer adopting the new IT department guideline until 2016."

This article discuses the changesin technology and increasing globalization in the world with a highlight on the hotel industry. It explains the guidelines large are small hotels take to adjust.

This article explains the changes and increasing globaliztion in the world and hotel industry. It explains the new guidelines and the procedures large and small hotels take.

This article is an introduction of a new business application software called Infor 10 EAM. It provides a brief overview of how this software is beneficial to both the hospitality and healthcare industries. The Infor 10 EAM Hospitality Edition enables companies to manage multiple tasks and departments from one integrated application, which gives hotels the ability to improve their performance and increase their savings. This application was designed to specialize in asset management to help companies not only focus on reducing costs, but also achieve Energy Star standards. I believe the Infor10 EAM Hospitality Edition will be up and running in most hotels within the next few years. The benefits provided from the utilization of this software seem to be worth the investment. A few of the benefits provided by the Infor10 EAM Hospitality Edition include: better tools for guest incident management and rapid response, increased equipment reliability, trusted information for fleet management, real-time preventive maintenance alerts, and enhanced risk management and regulatory compliance.

This is an interesting article about SynergyMMS software which is basically a software aimed at enhancing asset management and preventive management. This software is designed with the hospitality and tourism management in mind since it allows seamlessly communication among various departments of the hotels to improve guests' satisfaction. This system provides real time information about the workflow and maintenance for assigned villas and tracks when the work is completed . Additionally, this system can help monitor water consumption reduce energy consumption enhancing life of equipment cycle have an impact on guest satisfaction ( lower complaints) and less tear down for the hotels.

This article goes into detail about various safe practices that can prevent cyber threats. Policies and procedures must be created in order to protect us from cyber crimes. Governments have worked hard to protect data from being hacked.

Hotels have always considered theft a cost of doing business. From linens to furniture, for some guests everything is up for grabs. However, guests are not the only ones responsible for missing assets in a hotel. Staff is also responsible for miscounting, misplacing, and missing items, uniforms and supplies as well. As a result, hotels are now turning to tracking technology to account for their assets. Since asset tracking can mitigate loss and increase revenue in the long run, modern asset management will necessarily have to rely on tracking devices. According to the article, radio frequency identification system (RFID) is now the latest and most efficient uniform inventory technology available. It allows MGM, for instance, to track 125,000 uniforms of its ARIA Resort inventory in Las Vegas. Chips are either pre-installed or sewn into the uniforms. This technology was first implemented in 2009 and has resulted in balanced inventory ever since. Moreover, these chips can also be installed in expensive bed comforters, paintings, lamps and even TV sets. Asset tracking enables not only accurate audits of items like towels and bathrobes but also deters guests and staff from theft or misplacement.

This article is about what can be LEED certified and how to go about getting certified. I just learned about this topic in my Hosp. Fac. Enviro. Sys. class, when I learned about it, I didn't realize that you have to be reevaluate.

A leader provider of outsourced staffing solutions for the hospitality industry, Hospitality Staffing Solutions, announced that it has completed the sale of its assets to HS Solutions Corporation. HS Solutions Corporation is an entity formed by LJC Investments 1, LLC and a group of investors including Littlejohn Opportunities Master Fund,LP, Caymus Equity Partners and Management. This transaction allows HSS to reduce its outstanding debt and responsibilities. It also gives the opportunity to emerge with strong financial backing of a new owner.

This article discusses the importance of the Computerized Maintenance Management Systems for the hotels. In the hospitality industry, the emphasis is made on the customer satisfaction. Thus, every issue including proper, thorough and timely maintenance is extremely important in making a guest happy. The maintenance manager may experience a large workload. The CMMS is intended to help in organizing the work and keeping it done fast and efficiently. Here are some functions of the CMMS. The assets are easily tracked with the detailed reports of the layouts, scheduled or completed repairs, etc. The guests' requests are responded faster as they are sent directly to the person in charge of the particular situation. It also provides effective scheduling procedures so that every request would be reacted in the best possible way. CMMS also schedules preventive maintenance for the most appropriate time. Regular preventive maintenance would save money on emergency repair. Thus, as the physical plant in the hotels becomes more complex the maintenance issues are getting more difficult to manage. The CMMS is able to assist the management in maintaining the facility in a way that will be satisfying to the customer.

This article outlines some of the procedures that are used in the Hospitality Industry accounting departments. Beginning with document retention, GAAP is followed to comply with how long the documents need to be kept. In keeping documents, data security needs to be in place to protect sensitive information. Internal controls are also important and follow GAAP, so that stakeholders and owners are protected. The procedure is so that the proper allocation of assets are maintained. Revenue recognition is also part of accounting procedures, as revenues may be sorted in various ways as appropriate. Lastly, timeshare accounting being one of the most complicated, due to the different agreements. I found this article to be a good guide in knowing the basic procedures that are followed in hospitality accounting.

The article provide an overview of basic hotel accounting procedures. Most of the concepts explained are the responsibility of the accounting department but the article did mention there was some crossover. The hotel manager must implement the guidelines for the hotel, this means that the manager must understand at least the basic concepts of accounting. The accounting department must also prepare reports that outline the hotels finances. These reports are especially important when the hotel is a publicly traded company and must meet SEC guidelines.

This article describes accounting software functions within the Hotel industry. The article states that "Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry". It is said that when selecting accounting software, you must identify what results you are looking for from the software; and also the functions that you are able to receive. You must also understand the needs of your property, and industry. The article also discusses various decision criteria, which is a part of the selection process. Some of these criteria's that you must look out for are: annual revenue, budget, location, multiple sites, national or international locations, in-house verses outsource operations. I love the fact that this article also discusses the functions of hotel accounting software. Some of those functions that were stated are: account payable, account receivable, and payroll. The article also brought up some trends about hotel and lodging accounting software. One of the trends that stand out to me was the fact that some companies hand over their entire accounting responsibilities to major accounting companies or, accounting firms; this is referred to as outsource. Having a accounting software is a very beneficial asset for a company.

The hospitality industry has had steady growth, with increasing demands for internal controls and financial accountability. Accounting software is crucial in measuring and tracking the hotel's profitability. Accounting software is used to track the profitability of hotel operations and identify trends in the hospitality industry. So it's important for hotel manager to choose the suitable accounting software. This article tells how to select hotel accounting system properly. Including the decision criteria used in selection process, areas of functionality in hotel accounting software and standards used for accounting and auditing in hotel industry, etc.

Hotel managers are often faced a lot of problem to deal with the accounting system. Now hotel manager can manage all of the accounting responsibilities by use hotel accounting technology. Using Web-based hotel accounting software can save your business money . The functions covered in all of the accounting systems.

this i article is about capital expenditure

The financial crisis of 2007-2008 is considered by many economists to be the worst financial crisis since the Great Depression. It resulted in the threat of total collapse of large financial institutions, the bailout of banks, and downturns in stock markets around the world. The bursting of the U.S. real estate bubble, which peaked in 2006, caused the values of securities tied to U.S. real estate pricing to plummet, damaging financial institutions. Prior to this crisis strategies to develop new hotels or acquire existing assets with a small percentage of cash out of pocket were plentiful. Today to secure funding it may take 30%-40% of hard cash to move a deal forward. The Small Business Administration (SBA) is offering a way to leverage funds at well below market rates for major renovations and new construction with as low as 10% cash down. The catch? Some money-saving energy efficiency or renewable energy measures must be in the mix. Millions of dollars in SBA 504 loans have been available for decades to help small businesses grow. The greening of the program began when the Energy Independence and Security Act of 2007 added 3 public policy goals that could qualify businesses for a loan for construction, renovation, or refinance to: 1.Build a new facility (or retrofit an existing building) that consumes at least 10% less energy. 2.Incorporate sustainable design such as LEED into the new construction or renovation projects or building purchases. 3.Incorporate the production and use of renewable energy onsite for the business and/or for the local utility. Another area the 504 green loan program can assist the hospitality industry is to bring cash to the table for major renovations. Hotel franchise companies have been lenient over the past several years on product improvement, as not many hoteliers have had the financial ability to perform major renovations. In the past several months the need for franchise companies to protect their brand have