Inside Look from the Global Finance Committee
The brain trust of hotel industry experts who are tasked with future planning and development for theUniform System of Accounts for the Lodging Industry(USALI®) is back in full, collaborative force to produce the new USALI 12th Revised Edition. This group, the Global Finance Committee (GFC) sponsored by HFTP and AHLA, recently met in Washington, DC to discuss major financial and operating revisions and enhancements that will be made to the new edition.
In this blog post, Robert Mandelbaum, GFC member and director of research information services at CBRE Hotels Research, summarizes the many notable changes to date:
- The Utilities Schedule (11th edition) will become the newEnergy, Water, and Waste (EWW) Schedule. The subject of a recentHOTEL YEARBOOK articles by HFTP CEO Frank Wolfe, this new Schedule will address increasing expectations from guests, investors and companies for reliable ESG reporting standards, metrics and statistics (read the article to learn more).
- theEWW Schedule will include new required expense categories to capture energy, water, sewer expenditures, waste and contract services. It will also incorporate a recommended schedule for obtaining environmental and greenhouse gas emissions and statistics.
- The definitions for each of the rate categories used for the Rooms Revenue segment have been expanded; and an optionalChannel Mix schedule has been added.
- Enhanced guidance will help users determine if a retail operation selling food and beverages should be considered asFood & Beverage (F&B)revenue or asOther Operated Departmentrevenue.
- New guidance will enhance the tracking of costs associated with services and amenities offered to participants of aGuest Loyalty Program.
- Guidance will be added to theMiscellaneous Income, Non-operating Income, and Expenses,andBalancesheetsections to reflect the latest lease accounting rules and regulations changes.
- Additional expense categories in theSales and MarketingDepartmentwill reflect the many new digital methods used to promote hotels.
Ahead of the new edition, HFTP is introducing a brand-new digital format for the USALI, published via the cloud-based publishing platform Kitaboo. The new digital version of the current 11ththe USALI edition is expected to be available in Spring 2023, and the new 12thedition will be added to the platform once it is released. .
For questions, contact HFTP at [email protected] or +1 (512) 220-4020. Follow news and information on the USALI 12thRevised Edition, on the HFTP website.
The Fall of the Traditional Dining Experience?
Written by: Ricardo Tellez
The hospitality and, more specifically, the food and beverage (F&B) industry are two that live by the motto: “if it ain’t broke, don’t fix it.” Unlike almost every other industry, the F&B industry prefers to stick to tradition; despite the incredible leaps in technology made in the past decades, many restaurants have stuck to using pen and paper. However, in recent years there have been glimpses of a shift in this mentality. Instead of uniformity and conformity, people have begun to seek new and unique experiences. Additionally, with the rise of social media platforms, celebrity chefs have boomed, allowing them to unleash their creativity and curate dishes few could ever dream of. Unfortunately, the restaurant venues themselves have seldom changed, as most venues consist of the same formula: four walls, tables and chairs.
Astonishingly, a single computer used to occupy an entire room, but now it fits in the palm of our hand. During that time, the evolution of restaurant venues has remained stagnant. Luckily, there are several companies that have been experimenting with augmented reality (AR) and 3D modeling that aim to revolutionize the traditional dining experience. These technologies can transcend the gap between the things we see on a screen and what we see in real life.
Whenever a restaurant implements AR, they allow customers to experience a new dimension through their phones. The restaurant group Vino Levantino partnered with the technology company Kabaq in an effort to modernize the traditional static menu – allowing customers an unprecedented view of their dishes. Utilizing their smartphones, customers can load the restaurant menu and see a list of dishes offered by the venue. Unlike traditional menus, customers can select any dish, and a 3D representation of it will appear on their table, which they can see on their phone screen. This allows the guest to visualize the dish from multiple angles before they place an order, with the ability to see its texture, presentation, and how each ingredient is used in the dish. Not only is this technological application beneficial for the customer who gets to experience the restaurant menu in a unique way, but it also brings benefits to the owner. A study conducted by Kabaq found that since the implementation of AR in the menu, dessert sales have increased by 25 percent. This proves that not only can technological innovations elevate a traditional dining experience – they can also reward its adopters.
Even though this partnership between Kabaq and Vino Levantino showcased the power of AR for restaurant menus, its application does not need to be limited to that sole aspect of the restaurant industry. In fact, the company Le Petite Chef has created an entire dining experience around the use of AR and 3D modeling. Le Petite Chef is a two-hour dining experience in which screen projectors display a virtual film on the tables. Upon arrival, customers select dishes from a set menu of at least four courses. Shortly thereafter, the restaurant’s lights will dim, and the show will begin. The customers will witness a cartoon chef walking around their table and interacting with virtual elements that he will use to prepare the customer’s selected dish. Once the cartoon chef has finished the dish, the restaurant’s lights will brighten, and the real dish will be brought to the table. Le Petite Chef has become a worldwide sensation, and this experience can be found in over 30 countries, in luxury cruises and hotels such as the Ritz Carlton in Los Angeles. This is a one-of-a-kind experience that customers are clamoring to witness, as many locations are fully booked months in advance. Furthermore, it can potentially bring enticing profits to its owners as the Ritz Carlton location charges $145 USD per person.
Today’s customers are tired of the traditional restaurant experience; they want something new and fresh. Fortunately, social media platforms allow restaurants all around the world to receive worldwide exposure. However, the restaurants that can harness innovative technology and implement it in their venues to create unique experiences will be the ones that gain the most notoriety and, potentially, profits. Thus, it is imperative that restaurant owners and managers seek ways to use these technologies to gain market share and avoid the risk of becoming obsolete.
This blog post received Second Place in the Fall 2022 HFTP/MS Global Hospitality Business Graduate Student Blog Competition presented by the HFTP Foundation. Participants are students participating in the Master of Science in Global Hospitality Business, a partnership between the Conrad N. Hilton College of Global Hospitality Leadership at the University of Houston, the School of Hotel and Tourism Management at Hong Kong Polytechnic University and EHL. The blog posts that received the top scores will be published on HFTP Connect through March 2023. Learn more at HFTP News.
Ricardo Tellez is is a student in the Master of Science in Global Hospitality Business with a passion for the food and beverage (F&B) industry. He enjoys learning about how restaurants are evolving to modern-day consumers and researching strategies for restaurant owners to increase profitability with new technology solutions. When possible, he travels throughout the world to visit and experience renowned chefs and famous culinary venues.
Resources:
- Ferrandez, C. (2022, June 16). Augmented reality restaurant experiences: 5 examples. Poplar Studios. Retrieved October 28, 2022, from https://poplar.studio/blog/augmented-reality-restaurant-experiences-5-examples/
- Kavanaugh, M. (2019, February 23). Augmented reality allows restaurants to serve up 3-D dishes. Restaurant Insiders. Retrieved October 28, 2022, from https://upserve.com/restaurant-insider/the-future-of-restaurant-menus-augmented-reality/
- Le Petite Chef. (2021). Exciting adventures await you! Le Petit Chef – The smallest chef in the World! Retrieved October 28, 2022, from https://lepetitchef.com/
- Trinh, T. (2017, November 25). What’s on the menu? augmented reality and 3-D food models. VOA. Retrieved October 28, 2022, from https://www.voanews.com/a/augmented-reality-3-d-food-models-on-the-menu/4136235.html
- Yeo, PK (2022, March 11). The uncomplicated, Ig-friendly delights of downtown’s Le petit chef. Time Out Los Angeles. Retrieved October 28, 2022, from https://www.timeout.com/los-angeles/news/the-uncomplicated-social-media-friendly-delights-of-le-petit-chef-at-the-ritz-carlton -030222
International Travel Tips Ahead of HITEC Toronto 2023
Last year, hospitality professionals from 46 countries across the globe traveled to Orlando, Florida USA for HITEC North America. Will your HITEC journey be transnational in 2023? Here are some valuable travel tips to help non-Canadian attendees prepare for the upcoming trip to HITEC Toronto, taking place June 26-29 at the Metro Toronto Convention Centre. You can also visit cbsa.gc.ca and cic.gc.ca for more information on traveling to Canada.
ENSURE YOU HAVE THE REQUIRED DOCUMENTS IN ADVANCE.
Make sure you have all proper, up-to-date travel documents to enter Canada as a visitor. According to the Government of Canada, international visitors to the country require acceptable identification and possibly a valid visa or eTA. A passport is recommended “because it is the only reliable and universally-accepted travel and identification document for the purpose of international travel” (CBSA Travel Tips).
Passport Tips
If you are bringing your passport as identification, verify that it is valid and in good physical condition. If you do not have a passport already, it is advised that you start the application process now, as it can take several weeks or months to receive your final document. For more passport information, visit the following informational websites: United States; europe; United Arab Emirates.
Do you need an eTA?
Some visa-exempt foreign nationals who fly to or transit through Canada will need an Electronic Travel Authorization (eTA). Exceptions include US citizens and travelers with a valid Canadian visa. Canadian citizens, including dual citizens, and Canadian permanent residents cannot apply for an eTA. Learn more and find out if you need an eTA by visiting the official Government of Canada website.
It is important to have the proper documentation so that you are not delayed or refused entry into Canada. Click here to learn more about travel documentation and entry requirements by country.
HITEC Supporting Documents
If you require additional support to travel to HITEC, HFTP (the event producer) has provided the following documentation:
Do you have any questions regarding these documents? Please email [email protected] for more information.
Additional Travel Tips: Make two photocopies of all your travel documents in case of emergency. Leave one copy with a trusted friend or relative at home and carry the other separately from your original documents in case of loss or theft. (Travel.State.Gov Traveler’s Checklist)
GET TO KNOW THE LOCAL CURRENCY.
The Canadian dollar (CAD) is the official currency of Canada. It is sometimes listed as CAN$ or C$. There are 100 cents to every Canadian dollar. Canadian coins come in all different sizes, shapes and colors. They include the nickel (five cents), dime (10 cents), quarter (25 cents) and dollar or “loonie” ($1). Paper money includes the blue $5 bill, the purple $10 bill, the green $20 bill, the red $50 bill, and the brown $100 bill. Learn more facts about Canadian currency online.
Monetary Conversion
You can use this currency converter through the Bank of Canada to determine current exchange rates. Do the math before you make the trip so you can be prepared financially for expenditures in the local currency.
Make sure to notify your bank and credit card companies in advance of your upcoming travels, so that their fraud alerts are not triggered by the unusual geographical activity.
Tipping in Canada
According to the Government of Canada website, the standard tip is usually 15 percent of the total bill in exchange for good service provided in places such as restaurants, hotels, bars, taxis, etc.
Additional Travel Tips: When traveling in new countries, it is wise to carry local cash, as not every place will accept credit cards – especially important for situations where public transportation is required. Also, use the bank or local automated banking machines (ABMs) to withdraw cash, if necessary; conversion centers around the city or in the airport may be overpriced. It is advised to change money into Canadian dollars before you depart for your trip.
ENSURE YOUR SAFETY WHILE ABROAD.
As you should with any travel to a foreign country, get to know the entry/exit requirements, local laws, customs and medical care system in advance. While Canada is generally considered a safe place to both live and visit, you should always exercise routine precautions to ensure your personal safety while traveling. Did you know? 911 is the emergency telephone number in Canada.
Additional Travel Tips: US citizens and nationals can enroll in the Smart Traveler Enrollment Program (STEP) and receive important information from the US Embassy about safety conditions in the destination country and provide contact with the US Embassy in the case of an emergency. You can also monitor US travel advisories by destination (currently, Canada is listed as “level 1: exercise normal precautions.”)
MAKE APPROPRIATE HEALTH/MEDICAL CONSIDERATIONS.
Find a complete list here of current Covid-19 travel, testing and border requirements for travel to Canada. To date, travelers entering Canada are not required to provide proof of Covid-19 vaccination or pre-board testing. There is an exception: Covid-19 pre-boarding test is now required for air travel from China, Hong Kong and Macao (as of January 5, 2023). Click here to learn more about these special pre-boarding test requirements.
Vaccinations: It is recommended that you are up to date on all routine vaccinations before each trip. Visit the US CDC website for additional health-related information prior to your trip to Canada.
Medications: Ensure that you have renewed all your necessary prescriptions in advance and obtain an official letter from your doctor for any medications you plan to cross borders with. Please note that some countries have strict laws in place regarding prescription medications. You can contact Canada’s embassy to verify the legality of your prescriptions before you travel with them.
PERHAPS MOST IMPORTANTLY… ENJOY YOUR EXPERIENCE ABROAD IN THE THRIVING CITY OF TORONTO.
Destination Toronto has all the information you need to know about the city you’ll be visiting this summer when you attend HITEC North America 2023. Start planning your travel agenda today with a look at these must-see attractions. Housing for HITEC Toronto is now open, so you can also reserve your hotel room.
Then, stay tuned to HFTP Connect next month – when we take a much closer look at the city of Toronto and all that HITEC attendees have to offer.
Resources to Consider:
An Interview Between HFTP CEO Frank Wolfe and ChatGPT
By: Frank Wolfe, CAE, FIH | HFTP CEO
ChatGPT has been dominating the news since (he? she? it?) was revealed to the world in late 2022 as the latest in AI-driven, natural language processing technology. Is this new chatbot launched by OpenAI something to fear or something to embrace? I recently “interviewed” ChatGPT to learn more. Currently, the chatbot does not have a voice and only communicates by text. To give full credit, I have cut and pasted ChatGPT’s text responses to my questions verbatim, without any edits. Enjoy!
FW: Who is ChatGPT?
ChatGPT: ChatGPT is not a person, it is a large language model developed by OpenAI. It is a computer program that uses artificial intelligence (AI) and machine learning techniques to generate human-like text in response to prompts. It is trained on a dataset of conversational text and can be used for a variety of natural language processing tasks such as language translation, question answering, and text completion.
FW: What is ChatGPT?
ChatGPT: ChatGPT is a large language model developed by OpenAI. It is trained on a dataset of conversational text and is designed to generate human-like text in response to prompts. It can be used for a variety of natural language processing tasks such as language translation, question answering, and text completion.
FW: Where does ChatGPT live?
ChatGPT: ChatGPT is a software program, it does not have a physical location or a place where it “lives”. It is hosted on servers and cloud infrastructure owned and maintained by Open AI or by third parties that have licensed the technology from Open AI. It can be accessed by users through the internet by using Open Ai’s API or by running the model locally on their own computers with the required resources.
FW: Why is ChatGPT important?
ChatGPT: ChatGPT is important because it is a highly advanced language model that can generate human-like text. This makes it useful for a wide range of natural language processing tasks such as language translation, question answering, and text completion. These capabilities can be used to improve the user experience in various applications such as chatbots, virtual assistants, and language translation software. Additionally, the model’s ability to fine-tune on specific tasks and data sets makes it a valuable tool for businesses and organizations looking to automate and improve their natural language processing capabilities.
Also, ChatGPT and other similar models are important in the field of AI research as they push the boundaries of what is possible with language generation and understanding, which in turn can lead to new breakthroughs and applications in the field.
FW: How do I sign up or try out ChatGPT?
ChatGPT: To sign up for ChatGPT, you will need to go to the Open AI website (https://OpenAI.com/) and create an account. Once you have an account, you will be able to access the Open AI API, which allows you to use ChatGPT and other language models developed by Open AI in your own applications.
You will be prompted to provide some basic information such as your name, email address, and a password to create an account. After you have created an account, you will need to verify your email address before you can start using the API.
Once you have verified your email and logged in to your account, you will be able to access the API key, which you will need to use to access the API and use ChatGPT. You can also access the documentation and tutorials provided by OpenAI to help you get started with using the API and integrating ChatGPT into your own applications.
Alternatively, you can also use OpenAI GPT models by using the Hugging face library, a python library that allows you to use the pre-trained models without the need of an API key or internet connection.
FW: How will ChatGPT impact the hospitality industry?
ChatGPT: ChatGPT and other similar language models have the potential to greatly impact the hospitality industry by automating and improving many customer-facing tasks. Some examples include:
Chatbots: ChatGPT can be used to train chatbots that can handle customer inquiries and bookings, provide 24/7 customer service and free up staff to focus on other tasks.
Virtual assistants: The model can be fine-tuned for specific tasks, such as providing information about hotel amenities and local attractions, making recommendations for restaurants and activities, and answering frequently asked questions. This can help hotels to provide a more personalized and efficient service to their guests.
Language Translation: ChatGPT can be used to train language translation models that can help hotels to communicate with guests from different countries and cultures, and to provide multilingual customer service.
Email and Social Media: The model can be used to generate automated responses to customer emails and social media messages, which can help hotels to quickly and effectively respond to customer inquiries and complaints.
Overall, using ChatGPT and other similar models can help hotels to automate repetitive tasks, provide 24/7 customer service, and improve the overall customer experience.
FW: Do you know any hotel jokes?
ChatGPT: Sure! Here’s a joke for you: Why did the hotel guest keep his room key on a chain around his neck? So he wouldn’t lose his keys and “check out” of his room permanently!
FW: Do you know any country club jokes?
ChatGPT: Sure! Here’s a joke for you: Why did the golfer bring two pairs of pants? In case he got a hole in one!
Frank Wolfe ([email protected]) is chief executive officer of Hospitality Financial and Technology Professionals.