Business & Finance

HFTP Administers Updated CHAE Exam for Hospitality Professionals

HFTP certificants have reported higher salaries and various career advancement opportunities

AUSTIN, TX. April 26, 2017 — Hospitality Financial and Technology Professionals (HFTP®) recently launched the newly updated Certified Hospitality Accountant Executive (CHAE®) certification exam. The new CHAE exam is now available for applicants, and was designed to give applicants the ability to utilize their financial knowledge and skills acquired. The CHAE Application is available for download on the HFTP website, and the policy and procedures includes detailed information on the application process and the requirements necessary to sit for the exam. The CHAE is a hospitality-specific designation which shows both a dedication to hospitality and accounting.

The new CHAE exam now has four sections instead of five as was in the previous exam. The new exam features a more global finance focus, and is based on experiential learning from financial knowledge and skills acquired. Exam questions focus on financial accounting, managerial accounting, ethics, fraud, internal controls and general questions. Updated features also include an ethics and CHAE policies and procedures section. As an added benefit to those interested in hospitality certification, HFTP will conduct a CHAE webinar review series in May 2017. Also, exam review topics can be found on PineappleSearch.com, and revamped review slides can be found here on the HFTP website.

“HFTP certification indicates an individual’s commitment to professionalism, continuing education and their chosen career path,” said HFTP CEO Frank Wolfe, CAE. “Certification can help hospitality professionals elevate their knowledge and skill as well as demonstrate superior industry performance.”

HFTP currently offers two hospitality-specific certifications: the Certified Hospitality Accountant Executive (CHAE®) and the Certified Hospitality Technology Professional (CHTP®). HFTP’s certification programs are globally recognized for setting industry standards for hospitality finance and technology. Active certificants have reported higher salaries in the 2016 HFTP Compensation & Benefits Survey conducted by the HFTP Americas Research Center. HFTP offers the only designations for finance and technology professionals who are working in the hospitality industry. Qualification for the exams is based on level of education and experience in the industry; student programs are also available.

To learn more about the updated CHAE exam click here. For more information on HFTP's certification programs, contact HFTP Certification Manager Robin Bogdon at certification@hftp.org. For the latest news, visit www.hftp.org and www.hftp.org/hitec/ and stay tuned to HFTP Connect, HFTP News, Facebook, LinkedIn, Twitter (@HFTP) and Instagram (@HFTP_HITEC).

About HFTP

Hospitality Financial and Technology Professionals (HFTP) is a global nonprofit hospitality association, headquartered in Austin, Texas, USA, that uniquely understands the industry's problems. HFTP has members and stakeholders across the globe. HFTP assists its members in finding solutions to industry problems more efficiently than any organization via its expert networks, research, conferences such as HITEC and certification programs. HFTP also owns the world's only hospitality specific search engine, PineappleSearch.com. HFTP is recognized as the spokes group for the finance and technology segment of the hospitality industry. For more information about HFTP, email membership@hftp.org or download the HFTP/HITEC media kit via the HFTP website.

Coming Up In The October Online Hotel Business Review




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Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.