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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 December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.