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HFTP is short for Hospitality Financial and Technology Professionals. It is working with members of several organizations, including EHL, HFTP's Research institute at the University of Houston, Hong Kong Polytechnic University and Hospitality Professionals Association. From the article, HFTP has start developing a global hospitality accounting system users guide. The global guide will provide the industry with a comprehensive glossary of inventory terminology, charts of accounts and will benchmark common allocation for specific regions of the world. The project is planned as a three-step process. 1. Final year bachelor students at Ecole Hoteliere De Lausanne (EHL) in Switzerland working on their Student Business Project are gathering data, surveying hotel operations and assembling terms of reference. 2. Once the data is assembled, it will be distributed to regional teams of industry professionals that are chaired by industry consultants. These teams will develop sample charts of accounts and common allocations for their specific areas. 3. The team chairs will finalize the project by authoring a discussion on similarities or differences of allocations. The initial guide will be published in English, with plans to distribute globally in multiple languages.

EHL Insights is a Swiss based company that dove into what leaders in the Swiss hospitality industry believe in regard to disruptive innovations for the global industry. The article interviewed a few different leaders and got their take, like Wilhelm Konrad Weber, who believes that technology is affecting the hospitality industry but also poses a threat because hotel leaders are not necessarily ready to adapt/adopt to ever-changing technology. OTAs were mentioned as an example of the industry falling behind as these websites help eliminate loyalty. Weber also mentioned that innovation in the industry is evolutionary rather than disruptive due to the demands and expectations from investors and analysts. One person, Zia Chisti, is a skeptic when it comes to artificial intelligence and works for a company that utilizes AI. He argues that AI is not disruptive as it has existed for awhile and is a slow and steady process. The argument made by Chisti is that guests expect a service with real people rather than machines. Overall, there will be technological advancements but it will be slow and steady. It's just up to hoteliers on how quickly they want to implement it.

The Article disscuss the challenges in innovation in hotels, this include different aspects and argues that the industry is a bit late adapting and untilizing technologies compared to other industries. it gives example of the booking services of an airline and a hotel. which clearly gives strong indication that the clients in the market now days tend to look for a more personalized services which can be offered through the hotel booking system. another aspect of the article covers the side of sustainability, that is not limited to saving water or energy level but on a wider aspect also.

To create a global resource for the hospitality finance industry, Hospitality Financial and Technology Professionals has begun development on a global hospitality accounting system users guide. HFTP is the only global association dedicated to hospitality finance and technology and our Global Board is investing heavily to create a benchmark that stakeholders can use to compile accounts, compare regional differences and define the value of a hospitality operation.

This article was pretty brief, but it stated that Hospitality Financial and Technology Professionals has begun development on a global hospitality accounting system users guide. This would create a global resource for the finance industry. Frank Wolfe, HFTP's CEO, says that the company is the only global association dedicated to hospitality finance and technology. They are hoping to create a benchmark that stakeholders can use to compile accounts, compare regional differences and define the value of a hospitality operation. What I found interesting about this article was that it greatly involved final year bachelor students at Ecole Hôtelière De Lausanne in Switzerland performing research for this project. I also think that a global hospitality accounting system users guide would be beneficial, especially since many managers/employees do not have the strongest training or skills in a financial or technical area.

HFTP (Hospitality financial & technology professionals) begins developing a global hospitality accounting system users guide. This kind of users guide is totally new to the hospitality industry and currently there is no global resource like this. The global guide will provide the hospitality industry with a glossary of inventory terminology, accounting charts and other accounting-related information. This project is developed using technology that can provide users with a benchmark that stakeholders can use to compare regional differences and define the value of hospitality operation. This project is a three-step process. First, bachelor degree students from all over the world who are interested in this project will work as data collector. Second, the assembled and analyzed data will be processed into professionals in different regions all over the world to create new sample charts. Finally, the initial guide will be published in multiple languages and distributed globally. This new accounting system technology is predicted to help the hospitality industry increase the ability in financial management, accounting, cost control and the sharing of global accounting data sources.

This article talks about how the Hospitality Financial and Technology Professionals (HFTP) are in the process of making a user guide for the global hospitality accounting system. This guide will include a glossary of inventory terminology and have charts that are allocated for specific regions of the world. The article also breaks down the process into three parts. First they are gathering data by surveying hotel operations and terms of reference. Next the data will be sent to regional teams of industry consultants. Then to finalize the project they will author a discussion on issues of allocations. I belive that this would be a definite benefit to some people that have to work with these systems. It allows them to really understand the information rather than just trying to figure it out.

This article gives information on the new trend of hospitality: sustainability. Being sustainable does not only save an organization financially by reducing the cost of water and energy but also can be used as a marketing tool to gain new guests via social responsibility. Sustainability has become the future of the industry.

E-commerce has made tremendous strides for business transactions but merchants and marketers alike are advised to engage in Social E-commerce. Social commerce reinvigorates the standards of E-commerce and actively engages with buyers while making purchases.

Hotels will gather a large amount of information from guests, from their interests to their credit cards and this is potentially sotred in their systems. Needless to say, their information is sensative. It is said that many hotels use cloud based technologies for check-ins, reservations, etc. and this typically has a high chance of hackers or they may use a third party, which is just as equally questionably safe. This article highlights three main hotels brands, Mariott, Hyatt, and Sheraton, that had numerous issues from 2015 to 2016. EHotelier stated that a whopping 95% of breaches can be traced to human cause and this could be due thanks to a poorly trained front line staff. During a confrence, it was brought to attention many hotels think it is a big if, opposed to what should be done when it an attack occurs or how to prevent it.

Sad metrics quantifying terrorism's impact on some the most intriguing and beautiful places in Europe

The hospitality industry is implementing more sustainable practices in order to promote a green image that appeals to consumers- which is impacting sales. As the article quotes "companies that lead their competitors in terms of environmental performance also tend to enjoy a median Return-on-Equity that is 3% higher than that of their counterparts." By going green, industry's can can not only attract today's environmentally conscious travelers- but also can help the environment. The hospitality industry is practicing approaches of how to manage operations in an eco-friendly way to help the planet. 2020 will be the year for companies to operate their environmental policies, and marketing messaging around ecological themes.

The article focuses on how technology improves the efficiency and sustainability of the physical plant of hotels. The article acknowledges that while hotels tend to be asset heavy, thus lagging behind in technological implementation, big industry players have made the push to implement new technology solutions, These technologies control in-room entertainment, provide smart room controls, streamlines the experience with all controls in a single location, promotes sustainable rooms by cutting energy waste and utilizing an automated concierge to retrieve local information.

The author holds that the public have ambivalent attitudes of disruptive innovation，and the current understanding of its effects is inaccurate，the article mentions Uber and Airbnb as the example. This article gives the explanation that it is a form of breakthrough that takes place in a rapidly changing market. In the academic aspect, influenced by the theories of Harvard professor Clayton Christensen, It's different from continuous innovation Finally the author show 2 examples of potentially disruptive innovation in hospitality: 3D printers and virtual reality

This article gives a clear understanding on what disruptive technology is in the hospitality industry. It explains how our society craves for more "what's new?" or what a business can do to stay ahead of its competitors but are sometimes afraid of the outcomes and although we cannot see the future, we can give it a try while hoping for the best. They provided current examples such as Airbnb and how they sustain innovation effectively by capitalizing and improving the efficiency of the system.

The article discusses how technology can potentially disrupt the market in positive ways. The article also uses examples of what would not be considered market disruption and used Uber as an example of this. IF we were to however have self driving cars this would be a significant market disruption.

This article highlights several important security issues in the hospitality industry, followed by the practice of protecting data from loss. The data structure of the hotel industry is complex, customers mainly use bank cards to pay, and the staff turnover rate is high. There are certain internal threats. In order to solve these problems and avoid data loss, it is not enough to strengthen network security. It is also important that employees are trained and familiar with and comply with relevant regulations.

Hospitality offers an ideal target vector for conducting Cyber crimes such as identity theft and credit card fraud due to the existence of multiple databases and devices containing both Payment Card Information (PCI) and Personally Identifiable Information (PII). Restaurants, hotels, and other companies in the hospitality sector often have complex ownership structures with an individual owner or group of owners, and a management company that acts as the operator. Each of these groups may use different computer systems to store information, and the information can also frequently move across those systems.

In this article, we learn about the top five data security risks as well as best practices to help prevent data breaches. According to the article, the hospitality industry is a prime target since it stores a vast amount of sensitive guest information like names, phone numbers, addresses, and credit card numbers. Some of the five risks included complex ownership structures, reliance on paying by card, and insider threats to name a few. In order to avoid these threats, the article suggest that companies become PCI compliant, use cybersecurity measures like firewalls, and know where exactly their data is stored.

"Major technology firms will replace most hotel brands, because they can offer technology solutions and create markets to attract customers. The traditional hospitality industry will evolve into niche markets..." -> This quote from this article is able to summarize where this industry is headed in just a few sentences, but the article as a whole was able to pinpoint the top trends that this industry will have faced in 2022 due to the rapid changes that had to be made due to the COVID-19 pandemic which we still face today. Such as sanitation and other safety protocol that is still enforced. Companies have had to adapt because of this to make up for their lack of revenue. For example, "This means that hospitality venues are being used as make-shift offices for bleisure travelers, as well as locals seeking a change of work environment. This is a great opportunity for hotels and F&B venues to capitalize on the trend and adapt their offering to meet the needs and wants of this emerging segment; ample plug sockets, free high-speed WIFI and great coffee are good starting points." The author of this article stated that the number of guest book long term trips have decreased, but when it comes to reserving hotel conference rooms as office space, staycations have increased with this transition. "Videos providing 360-degree views of restaurant ambiance, café terraces enveloped in greenery or hotel beachfront locations, for instance, are just the ticket to make an establishment stand out this year. As ever, keeping the access threshold low is key to reaching as broad an audience as possible with virtual reality material: making content accessible on a variety of devices, without the need for a VR headset." Another point made in this article mentions how virtual reality is now being used to enhance the customer experience. As a personal observation this has also helped with the transition post Covid-19. The changes that have been made and implemented and have opened the door fo

This article confirms how AI will continue to be part of the evolution of the hospitality industry. While some past robotics have failed, the technology has become increasingly better and better options and features will continue to become more readily available. Humans and robotics need to find a common ground to work as parallels on instead of working against each other. The facts are that the incoming generations prefer digital ways of operating and traveling. If businesses want to succeed they need to stay current with technology advances.

This article is very specific about the benefits of networking. Gave you some 4 good point of what to do and get some benefits from Networking.

This article dives into the ways that technological innovation is disrupting the hotel industry. Hoteliers are struggling to keep up with guest needs and demands. Technological innovations, while a necessity, can never replace human touch. This rapid change represents a challenge and opportunity for the industry to overcome.

This article explains the technological advances in the hospitality industry and how this has been attributed to being a crutch for the industry and/or a burden. With the utilization of technological software such as kiosks, automated checks in's, and mobile ordering, the hospitality industry has had a disruption in the product that they are offering. The article also undergoes the understanding of taking the implementation of technology and the human interaction and combining them to work cohesively in the hospitality industry. Understanding that it is a balance that both must intertwine in order to find success in hospitality.

In this article, all the incredible sides of innovative technology within the hospitality and tourism industry are highlighted and discussed. Along with the discussion of what some of the newest technology is, it touches on how it positively and negatively affects the industry. For example, the article talks about how the average person is so much more willing to go about self-service check-ins and hotels and airports, as well as ordering from a kiosk at a restaurant. From this, while it can be super convenient for the customer, it can also cause extreme damage to the business. Because so much of the industry has transformed to just being at the will of your fingertips, it leaves customers forgetting that not everything comes with instant gratification. "Long queues to check in at the hotel become unacceptable; unresponsive or slow room service lead to negative hotel comments on TripAdvisor; and some expect 24 hours' housekeeping even in a budget hotel", a quote from the article reads. The article also talks about how while there can be many negatives, there are equally as many rewarding positives. For example, "Due to the large numbers of internet users, including mobile, online review platforms, attract lots of traffic which, in turn, means plenty of business potential for the online travel agencies (OTAs) in particular". One of the main points in the article talks about how even though many hospitality jobs are being taken over by computers and AI, the one thing a robot will never be able to grasp and give is human interaction. "A machine can cook dishes exactly to order, but it cannot experience how the guest feels; a robot might be able to deliver a pot of hot water to a hotel room, but it is unable to tell whether the guest is feeling unwell; an advanced voice control system could make it easier to order room service, but it cannot tell whether the guest enjoys the meal". In conclusion, while there are indeed many disruptive changes that have bee

"Technology and innovation are what have helped, even saved, restaurants as they transform how they operate to not just survive, but thrive, in this new connected and contactless era" "Third-party food delivery apps like UberEats, Foodpanda, or Door Dash will continue to be an important solution for those not able to offer in-house ordering and delivery services" "Contactless technology is going mainstream, and it's not just about placing an order online, but also about paying with a smartphone, smartwatch or smartcard via an app or touchless device" "technology-enabled reservation systems, restaurants can manage seating, waitlists, customer loyalty and dining preferences as well as collect vital client data be it for contact tracing or market insights" "Kitchen Display Systems (KDS) are a digital menu board for kitchen staff helping restaurants streamline back-of-house operations" "companies like Winnow are helping restaurant owners and managers cut food waste and costs and run their businesses more efficiently and sustainably" "auto-scanning barcodes with smartphone cameras on posters, tables, coasters, doors or websites allows customers to access online menus, order and pay - without contact" "air purification technologies to promote 'clean air'" https://diigo.com/0lmspn

Some of these technologies such as food delivery services, and conctactless payments I have grown used to as a consumer. However, technology like KDS to improve the back of house operations or air purification technologies are more behind the scenes type of technologies that I have not given much thought so I found this article interesting.

Many restaurants are adapting to a new reality. Some of the digital trends to watch in 2022 are as follows: 1. Online ordering systems and delivery apps - Food delivery market worth more than $150 billion globally. 2. Contactless payment estimated to triple from $2 trillion to $6 trillion by 2024. 3. Online table reservation system such as Open table Experiences initiative offering unique culinary events and dinner experiences. 4. Digital kitchen boards such as KDS, a digital menu board for kitchen staff linked to the restaurant's POI which displays orders automatically and efficiently. 5. Automated inventory management software tracking food and beverage stocks, anticipating quantities and scheduling reorders. 6. QR codes that allow customers to access menus online, order and pay. 7. Air purification technology like bipolar ionization and ultraviolet light.

This article is enjoyable to read. It offers a distinct viewpoint on how teamwork and ai technologies are beneficial to the hotel sector. Additionally, it provides good insight into the key lessons learned regarding the development and significance of artificial intelligence in the hospitality and tourism industries.