What to Expect from the 11th Edition of the Uniform System of Accounts for the Lodging Industry

The purpose of the Uniform System of Accounts for the Lodging Industry, or USALI, is to establish a uniform set of accounting guidelines for the lodging industry. A new edition is released every 10 years to keep pace with an evolving business environment and to address ambiguities found in previous editions.

In conjunction with the rollout of the 11th edition of the USALI, eCornell presents this video panel discussion, moderated by Cornell Prof. Jan de Roos, which highlights changes and provides guidelines for best accounting practices.

About the panelists:

Jan A. deRoos is HVS Professor of Hotel Finance and Real Estate at the Cornell University School of Hotel Administration, where he has taught since 1988. He is also faculty author of eCornell’s online certificate program for the hospitality industry, Hotel Real Estate Investments and Asset Management.

He has devoted his career to teaching and research related to hospitality real estate, with a focus on the valuation, financing, development, and control of lodging, timeshare, and restaurant assets. He co-developed a free tool, the Hotel Valuation Software, with Stephen Rushmore of HVS International and has developed a respected on-line executive education curriculum for hotel real estate professionals. His book on hotel management agreements, co-authored with James Eyster, is the seminal academic publication on the topic. Prior to joining Cornell, deRoos worked extensively in the hotel industry as a construction and engineering manager.

Robert Mandelbaum is the Director of Research Information Services for PKF Hospitality Research (PKF-HR), a CBRE company. He is based in the firm’s Atlanta office, where he is in charge of Research Information Services. Research Information Services produces the annual Trends® in the Hotel Industry statistical report, along with customized financial and operational analyses for client projects. On a quarterly basis, PKF-HR produces five-year forecasts of performance for six national chain-scales, six national location categories, and 55 major U.S cities using its proprietary Hotel Horizons® econometric forecasting model. Mr. Mandelbaum began his hospitality industry career with Holiday Inns, Inc. in Memphis, Tennessee.

He serves on the American Hotel and Lodging Association’s (AH&LA) Financial Management Committee that is responsible for preparing the Uniform System of Accounts for the Lodging Industry (USALI). In addition, he is a member of the Hospitality Financial and Technology Professionals (HFTP) association. He is on the executive board of the Cornell Hotel Society, the author of articles for industry trade publications, a guest lecturer at college and university hotel school programs, and a speaker at industry forums.

Greg Remeikis, CPA, is a partner in Cohn Reznick’s Accounting & Auditing practice; co-director of the Mid-Atlantic Hospitality Practice; and a member of the firm’s National Hospitality Industry Leadership Committee. He has been providing professional services in the hospitality industry for 20 years to hotels and quick service restaurant owners. He has been involved in the planning, fieldwork and reporting for external audit services for two publically traded hospitality entities and numerous privately hospitality clients. He has also led two internal control risk assessment, documentation, testing and remediation engagements related to Sarbanes-Oxley Section 404 compliance. He serves as the firm’s quality control partner related to the hotel area of the hospitality practice. Greg has provided a variety of consulting services to the industry, most notably – real estate development and construction services to boutique hotels, internal control consulting to both public and privately held companies, audits and due diligence related to hotel acquisition and fraud audits for fidelity bond claims.

Dynamic Content Personalization: Hoteliers’ Powerful New Tool to Maximizing Website Revenue and Conversions

Traditionally, hotel and resort websites have served the same content to all site visitors regardless of their preferences, demographics, past booking behavior, or even geographic location. Today, technology allows us to personalize content for property website visitors, making for a more intimate brand experience, and a profitable one at that.

HeBS Digital’s Mariana Mechoso Safer and Sara O’Brien discuss how you can use dynamic content personalization to deliver unique and relevant website content to specific customer segments. When dynamic content is delivered effectively, travelers enjoy service that is tailored specifically for them, while hospitality organizations enjoy more website engagement, greater conversion rates and increased revenues. You’ll learn to:

  • Recognize and reward specific customer segments by displaying personalized and relevant content that speaks to their preferences and expectations.
  • Differentiate your resort or hotel from the competition and the OTA channel.
  • Deliver higher levels of consumer satisfaction from the direct hotel website experience.
  • Significantly increase website conversions and revenues

Mariana Mechoso Safer is Senior Vice President, Marketing at HeBS Digital, overseeing advertising, marketing and public relations. Mariana heads the Las Vegas office, developing and implementing digital marketing strategies for HeBS Digital’s West Coast partners. She frequently conducts industry research and publishes in major travel and hospitality publications, and is also a guest speaker and presenter at hospitality events and conferences.

Mariana can be reached by phone at +1 702 463-1857, email at mariana@hebsdigital.com, on Twitter @mmechoso or LinkedIn.

Sara O’Brien is Senior Marketing Manager at HeBS Digital. She manages the development and execution of all HeBS Digital advertising, marketing and public relations. Starting with a position in consulting and client services, Sara has a solid understanding of hotelier’s business needs and objectives, including how to help them generate the highest ROIs from their most cost effective channel – their own website. Sara’s professional experience includes over nine years of advertising and marketing experience. Sara has a Master’s Degree in Global Marketing from Emerson College in Boston and a Bachelor’s Degree from University of Wisconsin, Eau Claire.

Hotel Marketing Summit 2015

Three of the hotel industry’s most creative and forward-thinking marketers joined eCornell for a live YouTube summit on hotel marketing in February, 2015. Access the video below.

ReviewPro’s Josiah Mackenzie, HeBS Digital’s Mariana Mechoso Safer, and hospitality marketing consultant and HSMAI Boston Chapter leader Greg Bodenlos discussed, debated and dove into emergent technologies and practices to predict what’s most likely to influence hotel marketing strategies for the year ahead. They also covered:

  • The hotel marketing ‘ecosystem’, from guest experience design to multi-platform marketing and operational feedback analysis.
  • Personalizing the customer journey, from the inspiration stage to booking and beyond.
  • How to leverage user-generated content to increase customer engagement.
  • What you should focus on when analyzing your ‘reputation’ online, and how to use that data to improve your business.

Josiah Mackenzie leads business development at ReviewPro – helping partners across the hospitality industry use 360-degree guest intelligence to create better travel experiences for their guests and unlock new areas of revenue growth for their businesses. The rise of data from the social web – where people are leaving digital data trails wherever they go, 24/7/365 – has given the hospitality industry a dramatically expanded ability to understand consumer sentiment and trending new demand areas.

Featured as a hotel technology trends expert by media outlets such as CNN, PBS, MSNBC, The Washington Post and Entrepreneur Magazine, Josiah is also a frequent keynote speaker at conferences throughout North America, Europe, the Middle East and Asia.

Josiah can be reached by telephone at +1 415 671 9629, via email josiah@josiahmackenzie.com – or on Twitter @Hotel_Intel.

Mariana Mechoso Safer is Senior Vice President, Marketing at HeBS Digital, overseeing advertising, marketing and public relations. Mariana heads the Las Vegas office, developing and implementing digital marketing strategies for HeBS Digital’s West Coast partners. She frequently conducts industry research and publishes her major travel and hospitality publications, and is also a guest speaker and presenter at hospitality events and conferences.

Mariana can be reached by phone at +1 702 463-1857, email at mariana@hebsdigital.com, on Twitter @mmechoso or LinkedIn.

Greg Bodenlos is a passionate hospitality marketer and Hospitality Sales & Marketing Association International (HSMAI) Chapter leader based in Boston, Massachusetts. With a passion for digital trends, social media and innovation – and over five years of hotel and technology work experience – Greg possesses a unique perspective on the hospitality digital marketing landscape. Playing digitally-focused marketing roles at the destination resort, luxury independent property, and now city center hotel has allowed Greg to play an active role in shaping hotel marketing best practices at the property-level as well as help bring hoteliers closer to creating more meaningful, personalized travel experiences for their guests. It was in his marketing role at Revinate – a SaaS start-up in Silicon Valley that designs and develops technology to improve the guest experience – where Greg was able to help hoteliers and academics better understand the power of leveraging consumer intelligence to drive better service and maximize revenue streams across the entire guest lifecycle.

Greg is a proud graduate of Cornell University’s School of Hotel Administration and has been featured as a hotel marketing expert on National Public Radio. Greg has been featured as a contributor in Crowdcentric Media’s Social Media Week New York blog, eCornell’s Blog and HotelMarketing.com, as well as played a co-authored role in an award-winning piece for Cornell University’s Center for Hospitality Research with Chris Anderson entitled Best Practices in Search Engine Marketing and Optimization.

Greg can be reached by phone at +1 781 686 2177, email at gregbodenlos@gmail.com, on Twitter @gregbodenlos or LinkedIn.

 

The Influence Of Reputation Analytics On Hotel Revenue and Financial Performance

In his landmark study comparing Global Review IndexTM (GRI) scores with ADR, occupancy and RevPAR performance, Cornell’s Chris Anderson proved what intuition told every savvy revenue manager:

A hotel’s online reputation significantly impacts revenue potential.

Join Chris Anderson, Associate Professor at Cornell University’s School of Hotel Administration and RJ Friedlander, CEO of ReviewPro, to learn how hoteliers across all segments of the industry are leveraging online reputation analytics to improve guest satisfaction, revenue and financial performance on 6/19/14 from 10:00 – 10:45AM EDT. If you are unable to attend, you can still register and receive a video and slide deck from the presentation via email.

This fast-paced session will offer a first-time look at Chris’s most recent research project which explores the relationship between review scores and REIT stock performance. You won’t want to miss listening to Chris discuss the results of this study and the potential game-changing impact the Global Review IndexTM could have on identifying under-/over-valued investments.

Chris Anderson is an associate professor at the Cornell School of Hotel Administration. His main research focus is on revenue management and service pricing. He actively works with industry, across numerous industry types, in the application and development of RM, having worked with a variety of hotels, airlines, rental car and tour companies as well as numerous consumer packaged goods and financial services firms. At the School of Hotel Administration, he teaches courses in revenue management and service operations management.

RJ Friedlander is the founder and CEO of ReviewPro. The company enables hoteliers and restaurateurs to increase guest satisfaction and grow revenue by proactively managing and improving their online reputation. The company’s suite of web-based tools, including the Revenue Optimizer, Advanced Guest Satisfaction Survey solution and Hotel Analysis Reports, provide the analysis, customer intelligence, competitive benchmarking and reporting needed to help hospitality professionals maximize their organization’s performance.

TripAdvisor & eCornell Launch Free Reputation Management Course

“As travel planning and booking become more dependent on online traveler reviews and opinions, online reputation management is paramount for property owners.” – Brian Payea, Head of Industry Relations, TripAdvisor

Does your business have an online reputation strategy in place? Are you fully capitalizing on its online reputation? If you’re unsure, the Managing your Online Reputation with TripAdvisor course from TripAdvisor and eCornell is for you. This free course was co-developed by TripAdvisor and eCornell and leverages research from Cornell University’s world-renowned School of Hotel Administration and faculty insights.

In the three-hour course, hoteliers will receive guidance and learn best practices from Cornell and TripAdvisor industry leaders on how to monitor and improve their property’s online reputation. The course focuses on building strategies and action plans for reputation management that ultimately drive bookings and revenue. The following topics are addressed in the curriculum:

  • Explain the importance of online reputation management to colleagues and peers
  • Take steps to assess your online reputation
  • Use methods for responding to online customer feedback
  • Understand the correlation between online reputation and revenue
  • Employ helpful tactics for incorporating customer feedback into day-to-day operations
  • Develop an action plan for managing your property’s online reputation based on best practices from Cornell and TripAdvisor

Effective management of online reputation is critical to building and maintaining your hospitality business. Get the reputation management skills you need today to drive occupancy, revenue, and growth. Enroll now for free.

1 comScore Media Metrix for TripAdvisor Sites, worldwide, December 2013

Optimize Your Revenue with Online Travel Planning

Did you know that the average traveler visits over 20 websites before they make a booking?

How do top digital marketing initiatives like the website (desktop, mobile, tablet), paid search, email marketing, online media, social media and more play a role  in the Online Travel Planning Journey? What can we consider an ‘assist’ to a travel booking and how can hoteliers make that final ‘push’ to get the reservation?

Multichannel campaigns need to leverage initiatives that play a role throughout the entire online purchase funnel. It’s important not to put all your digital marketing eggs in one basket, and to understand how today’s hyper-interactive travel consumer switches channels constantly throughout the day.

Join Mariana Mechoso Safer, Senior Vice President of Marketing at HeBS Digital, and Shalini Jariwala, Strategic Partner Manager of Channel Sales at Google, while they take you through a typical traveler’s journey to their booking.

The webinar will also cover:

  • How to boost revenues in Q2 through multichannel marketing
  • Where and how different marketing channels reach the consumer
  • How many steps it takes a consumer to make a booking
  • The customer perspective (i.e. Mom planning travel, Planning a Family Reunion)
  • Ways to recover abandoned bookings
  • Case studies to support recommendations

 

 

Raise Your Reputation, Raise Your Market Share

Customers have more choice than ever when it comes to choosing products. How do you get them to pick yours?

We sat down with R.J. Friedlander, founder and CEO of ReviewPro, at the HITEC conference last summer to ask him the big questions on reputation management, online education, and talent acquisition. Take a peak at the video above for some quick and applicable advice for applying data over intuition when it comes to online reputation.

Think you’ve got your online reputation where it should be? Why not try for 100% occupancy in our Fill Your Hotel game from Dr. Sheryl Kimes’s certificate in Hotel Revenue Management.

Segment Customers to Increase Leads, Sales, and Satisfaction

Global Hospitality Group Partners with Cornell for Scalable, Ivy League Professional Development

eCornell announced today that it has been selected by the acclaimed Batali & Bastianich Hospitality Group (B&BHG), an industry leader in hospitality, to provide an online professional development program for employees working at each of the group’s 26 restaurants . The one-year contract begins July 1, 2013.

“We’re thrilled to partner with B&BHG to help prepare their staff and operations for continued growth and success,” said Chris Proulx, eCornell’s Chief Executive Officer. “The restaurant business isn’t an easy one, but B&BHG’s focus on continuous education and improvement is one way to ensure the group remains innovative and one step ahead.”

B&BHG’s learning and development program will support its business strategy and the eCornell partnership is just one of these initiatives. Selected staff members will be invited to take one course from a hand-picked survey of eCornell courses across multiple disciplines.

“At B&B, our primary focus continues to be growth. We’re rapidly expanding and to move forward, we need a learning and development solution that we can implement quickly and scale up easily. For us, eCornell was the only choice — it combines Cornell’s high-caliber content and industry thought leadership with a flexible, scalable online platform,” said Rajan Lai, Vice President of Human Resources for B&BHG.

To continue to be a leader in the hospitality industry, B&BHG is diversifying its concepts geographically and striving to meet the demand for high quality, affordable, and unique dining experiences. Partnering with B&BHG allows eCornell to assist with improving the group’s operational quality and service.

eCornell’s approach to e-learning combines the experience and insight of Cornell University’s world-class faculty members with the flexibility of a self-paced, instructor-facilitated online learning environment. Classes of 20 to 30 participants per course gain critical knowledge and practice through videos, lectures, case studies, and applied exercises. Students also build their professional networks and collaborative skills using eCornell’s interactive online platform.

Guest Post on Infusionsoft: Big Ideas Blog

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About eCornell

eCornell, a wholly-owned subsidiary of Cornell University, provides many of the world’s leading organizations with online professional and executive development in the areas of leadership and management; human resource management; financial management; healthcare; marketing; and hospitality and foodservice management. eCornell’s proven course development model and asynchronous instructor-led course delivery provide students with an engaging, rigorous, and interactive learning experience. eCornell has delivered online courses to more than 50,000 students across more than 200 countries. For more information, visit www.ecornell.com.

 

About the Batali & Bastianich Hospitality Group

Batali & Bastianich Hospitality Group (B&BHG) is a premier (restaurant) group that owns and operates 26 restaurants in the United States, Singapore and Hong Kong. B&BHG is owned in partnership by Mario Batali, chef, restaurateur, cookbook author, and television personality; Joe Bastianich, restaurateur, wine maker, and author; and Lidia Bastianich, chef, best-selling cookbook author, restaurateur, and owner of a flourishing food and entertainment business. B&BHG’s restaurants include Babbo Ristorante & Enoteca, Bar Jamón, Becco, Casa Mono, Del Posto, Esca, Felidia, Lupa Osteria Romana, Otto Enoteca & Pizzeria, and Tarry Lodge in New York; Tarry Lodge Enoteca & Pizzeria in Westport, Connecticut; Lidia’s in Pittsburgh and Kansas City; B&B Ristorante, Carnevino, and Otto Enoteca & Pizzeria in Las Vegas; Pizzeria Mozza, Osteria Mozza and Mozza2Go in Los Angeles; Pizzeria Mozza in Newport Beach, California; and Pizzeria Mozza and Osteria Mozza in collaboration with Nancy Silverton in Singapore and Carnevino and Lupa in Hong Kong. B&BHG is also an industry leader in sustainability, with fourteen certified Green Restaurants and counting. For more information, visit http://bandbhg.com.

eCornell Bolsters Batali & Bastianich Hospitality Group’s Growth with Online Training

Global Hospitality Group Partners with Cornell for Scalable, Ivy League Professional Development

eCornell announced today that it has been selected by the acclaimed Batali & Bastianich Hospitality Group (B&BHG), an industry leader in hospitality, to provide an online professional development program for employees working at each of the group’s 26 restaurants . The one-year contract begins July 1, 2013.

“We’re thrilled to partner with B&BHG to help prepare their staff and operations for continued growth and success,” said Chris Proulx, eCornell’s Chief Executive Officer. “The restaurant business isn’t an easy one, but B&BHG’s focus on continuous education and improvement is one way to ensure the group remains innovative and one step ahead.”

B&BHG’s learning and development program will support its business strategy and the eCornell partnership is just one of these initiatives. Selected staff members will be invited to take one course from a hand-picked survey of eCornell courses across multiple disciplines.

“At B&B, our primary focus continues to be growth. We’re rapidly expanding and to move forward, we need a learning and development solution that we can implement quickly and scale up easily. For us, eCornell was the only choice — it combines Cornell’s high-caliber content and industry thought leadership with a flexible, scalable online platform,” said Rajan Lai, Vice President of Human Resources for B&BHG.

To continue to be a leader in the hospitality industry, B&BHG is diversifying its concepts geographically and striving to meet the demand for high quality, affordable, and unique dining experiences. Partnering with B&BHG allows eCornell to assist with improving the group’s operational quality and service.

eCornell’s approach to e-learning combines the experience and insight of Cornell University’s world-class faculty members with the flexibility of a self-paced, instructor-facilitated online learning environment. Classes of 20 to 30 participants per course gain critical knowledge and practice through videos, lectures, case studies, and applied exercises. Students also build their professional networks and collaborative skills using eCornell’s interactive online platform.

About eCornell

eCornell, a wholly-owned subsidiary of Cornell University, provides many of the world’s leading organizations with online professional and executive development in the areas of leadership and management; human resource management; financial management; healthcare; marketing; and hospitality and foodservice management. eCornell’s proven course development model and asynchronous instructor-led course delivery provide students with an engaging, rigorous, and interactive learning experience. eCornell has delivered online courses to more than 50,000 students across more than 200 countries. For more information, visit www.ecornell.com.

 

About the Batali & Bastianich Hospitality Group

Batali & Bastianich Hospitality Group (B&BHG) is a premier (restaurant) group that owns and operates 26 restaurants in the United States, Singapore and Hong Kong. B&BHG is owned in partnership by Mario Batali, chef, restaurateur, cookbook author, and television personality; Joe Bastianich, restaurateur, wine maker, and author; and Lidia Bastianich, chef, best-selling cookbook author, restaurateur, and owner of a flourishing food and entertainment business. B&BHG’s restaurants include Babbo Ristorante & Enoteca, Bar Jamón, Becco, Casa Mono, Del Posto, Esca, Felidia, Lupa Osteria Romana, Otto Enoteca & Pizzeria, and Tarry Lodge in New York; Tarry Lodge Enoteca & Pizzeria in Westport, Connecticut; Lidia’s in Pittsburgh and Kansas City; B&B Ristorante, Carnevino, and Otto Enoteca & Pizzeria in Las Vegas; Pizzeria Mozza, Osteria Mozza and Mozza2Go in Los Angeles; Pizzeria Mozza in Newport Beach, California; and Pizzeria Mozza and Osteria Mozza in collaboration with Nancy Silverton in Singapore and Carnevino and Lupa in Hong Kong. B&BHG is also an industry leader in sustainability, with fourteen certified Green Restaurants and counting. For more information, visit http://bandbhg.com.