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Hospitality Industry Resources and Articles

Multigenerational Travelers

A number of societal trends have combined in recent years to change the hospitality industry dynamics as Americans spend some of their leisure time differently than they once did. According to recent studies, longer, healthier lives, greater disposable income and dispersed personal networks have combined to bring more families together for multigenerational vacations. Learn more >>

Is Lack of Internal Communication Affecting the Operations of Your Property Management Group?

Communication is much like art—whether it’s considered good is in the eye, or ear, of the beholder. The ability to balance a checkbook does not indicate an expertise in accounting, just as the ability to follow a recipe does not make one a chef. In the same way, the ability to enunciate clearly or write legibly does not make one an effective communicator. Presuming that speaking and writing are the same as communicating is one of the great obstacles to organizational effectiveness. Learn more >>

The Importance of Establishing a Record Retention Policy for Your Organization

As accountants and business consultants, we are often asked how long business records should be saved. Recordkeeping is important because it provides information to support decision-making by management and is generally required by legal retention requirements. Records can be paper files, electronic documents, correspondence (including letters, faxes and emails) and data used in business applications and databases. A record retention policy helps establish a uniform rule across the organization as to how long something should be retained. Learn more  >>

PCI Compliance – It's All In The Numbers

Whether it is 14 or 16 numerical digits in length, securing and protecting credit card numbers and all associated information is extremely important. In an age where electronic information can be shared from anywhere in the world at a moment’s notice, people need to know more than ever that their credit card information is being protected. The consequences of this information falling into the wrong hands are simply too severe – identity theft. What’s more, businesses which work with and store credit card information of their customers need to ensure, for the sake of their own well being, that this information is adequately secured. Without taking the appropriate protection measures, the potential risk to the company itself is astronomical. Learn more >>

Fraud Prevention and Detection 101

How could it happen? Hundreds of thousands or even millions of dollars have gone missing. A long-term, trusted employee stands accused. No one knew? No one suspected? It happens every day. Businesses, large and small, municipalities and non-profit organizations all over the country are victimized from within by fraudulent activity. The financial and reputational impact can be devastating and may take years to overcome. In a majority of cases, the perpetrator has no means to make restitution, and the victims are unable to fully recover their losses. Learn more >>
 

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