Operational benchmarking is a crucial practice in today’s volatile, uncertain, complex, and ambiguous (VUCA) world, especially in industries like hospitality. In the hospitality sector, the Uniform System of Accounts for the Lodging Industry 11th edition (USALI™) serves as a standardized framework, enabling hotels to utilize operational benchmarking effectively to assess and enhance their financial performance. When hotels adapt USALI™ reporting, leveraging its structured approach, they can compare their financial performance against industry standards and competitors.
Article - The Role of USALI and Operational Benchmarking in Financial Management - By Arlene Ramirez - In the hospitality sector, the Uniform System of Accounts for the Lodging Industry 11th edition (USALI) serves as a standardized framework, enabling hotels to utilize operational benchmarking effectively to assess and enhance their financial performance. When hotels adapt USALI reporting, leveraging its structured approach, they can compare their financial performance against industry standards and competitors.
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Hospitality Financial and Technology Professionals (HFTP®) announced the HITEC Investment Conference (HITEC-IC), a new event designed to connect hospitality technology company executives with the investment community. Scheduled for June 27–28, the conference will be co-located with the 2024 Hospitality Industry Technology Exposition and Conference (HITEC®) where 325+ companies, from start-ups to established global brands, will present the latest innovative technology solutions to the hospitality industry. As the singular location for global hospitality technology and longest-running show of its kind, HITEC is considered imperative to the participating companies. It is the largest gathering of hospitality technology companies and is attended by representatives of a majority of the top 40 hotel brands in the world. Pairing HITEC-IC with this key industry event presents a unique opportunity to activate hospitality technology investments returning massive rewards for the entire industr
Hospitality Financial and Technology Professionals (HFTP®), producers of the Hospitality Industry Technology Exposition and Conference (HITEC®), has announced that attendee registration for this year’s North American event is now alongside hotel reservations via HITEC’s official housing service.