The Global Finance Committee (GFC), jointly sponsored by Hospitality Financial and Technology Professionals (HFTP®) and the American Hotel & Lodging Association (AHLA), have restarted its work on the 12th Revised Edition of the Uniform System of Accounts for the Lodging Industry (USALI). The independent group of global financial leaders from the most prominent U.S. and international hotel brands, operators, owners and other industry authorities met January 31 – February 2 in Washington, D.C. The upcoming revisions and enhancements will incorporate financial and operating changes and a new sustainability section.
David Lund, a financial consultant for hotels, shares his thoughts on how hotels should approach hotel finance software and tools, and the role technology plays in daily operations, highlighting the skills needed to succeed. With vast experience in hospitality operations, finance, and accounting, David offers his unique view on the hospitality business and advocates financial literacy for hoteliers as one of the most crucial skills to have.