Industry resources and more.Resources for financial standards and benchmarking statistics reports Question: I just took a position at a resort property which has a golf course, spa and fitness facility. Where can I find information on financial statement standards which address all of these areas? Answer: There are numerous financial reporting systems for the hospitality industry. The following list provides the different accounting systems available for your use. Many of the resources listed below were developed with assistance from HFTP HFTP Hospitality Financial & Technology Professionals HFTP Hybrid-Fiber Twisted Pair members. * Uniform System of Financial Reporting for Clubs--Provides an expense dictionary, chart of accounts, sample financial statements and relevant industry ratios. Found at: Club Managers Association of America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. , www.cmaa.org/webstore * Uniform Accounting Systems for Condominiums--Provides a basic system for account classification Found at: The American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Hotel & Lodging Lodging or holiday accommodation is a type of accommodation. People who travel and stay away from home for more than a day need lodging mainly for sleeping. Other purposes are safety, shelter from cold and rain, having a place to store luggage and being able to take a Educational Institute, www.ei-ahla.org See .org. (networking) org - The top-level domain for organisations or individuals that don't fit any other top-level domain (national, com, edu, or gov). Though many have .org domains, it was never intended to be limited to non-profit organisations. RFC 1591. * Uniform System of Accounts for the Health, Racquet, and Sportsclub Industry--Provides an expense dictionary, chart of accounts, sample financial statements and relevant industry ratios Found at: The American Hotel & Lodging Educational Institute, www.ei-ahla.org * Uniform System of Accounts for the Lodging Industry--Provides an expense dictionary, chart of accounts, sample financial statements, and relevant industry ratios Found at: The American Hotel & Lodging Educational Institute, www.ei-ahla.org * Uniform System of Financial Reporting for Spas--Provides an expense dictionary, chart of accounts, sample financial statements, and relevant industry ratios Found at: International Spa Association, www.experienceispa.com Question: I am trying to determine if my club is operating at comparable levels to similar clubs in my area. Are there any reports available that provide benchmarking statistics for private clubs? Answer: Yes, there are a couple of reports available which provide operating benchmarks for club properties * Club Operations and Financial Data Report--Includes data from all aspects of operations, including income and expense figures for each department and club type, initiation fees and dues, labor costs, rounds of golf and cost-per-hole maintenance expenses Found at: Club Managers Association of America; www.cmaa.org/web-store; or National Club Association, www.natlclub.org * Clubs in Town & Country--Annual statistical review incorporating operating and financial data on private clubs in the U.S. Found at: PKF PKF Peace Keeping Force PKF Pannell Kerr Foster (accounting firm) PKF Park Falls, Wisconsin (Airport Code) Consulting; pkfnewyork.com * NGCOA NGCOA National Golf Course Owners Association Financial Benchmark Program--Provides information on rounds played, tee times available, golf revenue (green fees and cart), Revenue Per Available Tee Time (RevPATT) and Revenue Per Utilized Round (RevPUR) Found at: National Golf Course Owner's Association, www.ngcoa.org/benchmark/ These are just a few of the reports available on club operations. If you are familiar with any additional reports, please let me know and I will be glad to publish them in a future issue of the HFTP Research Institute Q&A. For additional information on these topics please contact the HFTP Research Institute. Contact Information: Tanya
Likkutei Amarim ( Venegas, Program Coordinator HFTP Research Institute Ph: (713) 743-1839 or (866) 572-4387 Fax: (713) 743-2548 E-mail: hftp@hrm.uh.edu Meet Other Technology Professionals in the WIWIH WIWIH Who Is Who in Hospitality .com HITEC HITEC Highway Innovative Technology Evaluation Center Group HFTP has recently launched a HITEC group in the online hospitality networking site, Who is Who in Hospitality. The wiwih.com group is exclusive to registered HITEC attendees, exhibiting companies and supporter companies. HFTP has invited attendees to use this group to connect with other HITEC delegates, find the latest news about the show, participate in discussions and experience related multimedia. Participation offers a variety 01 benefits: * Use forum to discuss pertinent PERTINENT, evidence. Those facts which tend to prove the allegations of the party offering them, are called pertinent; those which have no such tendency are called impertinent, 8 Toull. n. 22. By pertinent is also meant that which belongs. Willes, 319. industry trends online ... * Network online with other conference delegates ... * Plan meetings beforehand ... * Listen to weekly HITEC podcast (iPOD broadCAST) An audio broadcast that has been converted to an MP3 file or other audio file format for playback in a digital music player or computer. The "pod" in podcast was coined from "iPod," the predominant portable, digital music player, and although podcasts are ... * Download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. conference presentations ... * Access daily updated industry intelligence ... Registered attendees are provided instructions to join the group at groups.wiwih.com/hitec. Contact HFTP for more information. 7th Annual Hospitality Technology Professionals Forum Saturday, November 11 Penn Club * New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. HFTP's seventh annual Hospitality Technology Professionals Forum will once again offer hospitality professionals an interactive environment to discuss hot topics in the industry with two tracks; one devoted to club-specific technology topics and one for general hospitality technology topics. Each topic will feature an industry expert who will provide a brief overview of the topic and then facilitate audience discussion. In addition to the planned discussions, attendees will have an opportunity to interact one-on-one during a continental breakfast, lunch and reception. All registrants attending the Forum will receive a complimentary registration to the 2006 International Hotel/Motel & Restaurant Show[R], November 12-14 at the Javits Convention Center. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion