baha times - march
DESCRIPTION
The British Association of Hospitality Accountants Monthly Journal - March 2011 EditionTRANSCRIPT
The Journal of the British Association of Hospitality AccountantsMARCH 2011
In this issue:4 BAHA Education
Programmes - Studentresults
6 CRC - What does it meanfor me?
8 Hotel financing in 2011:Back to the roots
10 PCI DSS Survey
11 London 2012 hotel pricesset to double
12 GHN on my Mind
16 HOTSTATS UK HotelsReview Jan 2011
19 Advertise with BAHA
20 Forthcoming Events
bahaTIMESBAHA members meetingsMonday 4th April
PwC HotelsForecast2011 & 2012– How big a party forhotels in 2012?Latest industry forecast by BAHA PatronsPwC at 1 Embankment Place, LondonWC2N 6RH from 6.00pm
Thursday 19th May
PKF BreakfastSeminarAccounting and Reporting update for finance teams andconsultants working in the hospitality industry
PKF London Offices, Farringdon Road,London EC1M 3AP from 8.00am
Servicingyour needs
Hospitality & Leisure
We provide sale, acquisition, valuation, rating,
property and building advice.
bah
aTIM
ES
spon
sore
db
y:
BOOKINGESSENTIAL
To book your place atthese members meetings
please [email protected]
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PwC UK Hotels Forecast 2011 & 2012: How big a party for hotels in 2012? BAHA Members meeting - 4th April 2011
It was a very good year for many London hoteliers in 2010 as they shrugged off the recession and average room rate (ARR) growth soared by 9%. Revenue per available room (RevPAR) was up 11.4% to almost £104, passing the £100 mark for the first time since we began forecasting in 2000. This helped make London the top performing hotel market in Europe. Our lat-est hotel forecast anticipates continued strong, but decelerating, RevPAR growth of 8.3% in London in 2011, while in the provinces we expect ARR to advance by 3.4% after two years of decline, supported by a continued revival in business travel. How big a party for hotels in 2012? Q3 2012 could make many hoteliers' dreams come true with the Farnborough International Airshow, the Olympics and the Paralympic Games all in the same quarter. But outside this crucial quarter, especially in the shoulder periods, we remain con-cerned that reduced demand and above average room supply will take their toll on London trading. Hotels planning a bout of price gouging during the Olympics will only worsen the hangover. It is what happens once the Games are over that really matters, particularly for London with its significant amounts of new supply coming on in 2011 and the first half of 2012. If you would like to discuss any of the issues raised in this report come and join Robert Milburn, UK Hospitali-ty and Leisure Leader, Liz Hall, Head of Hospitality & Leisure Research and Jas Ellis Macroeconomist at PwC for a special BAHA members meeting on 4th April from 6.00pm at PwC, 1 Embankment Place, London WC2N 6RH. Booking essential please email [email protected] to reserve your place. www.pwc.co.uk/hospitalitydirections
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PCI DSS Survey
The findings showed that 77% of the 1000 Level 4 Merchants surveyed claiming to be PCI DSS compliant – were in fact not compliant. Of the respondents surveyed claiming to be PCI DSS compliant, the results also indicated:
For more information or a copy of the survey please contact [email protected]
ORTHUS SURVEY INDICATES OVER 75% OF HOSPITALITY SECTOR BUSINESSES MISTAKENLY BELIEVE THEY ARE PCI DSS COMPLIANT.
London, United Kingdom, on March 7, 2011 – Orthus Limited released the results of a survey conducted of 1000 Level 4 Merchants* in the hospitality sector operating across the United Kingdom to verify their PCI DSS compliance status.
• 94% stated they had conducted the requirement quarterly vulnerability assessment scanning.
• 36% stated they had conducted required security penetration testing.
• 9% stated they had information security policies.
• 0% had conducted the required wireless scanning.
• 24% stated they had executed a self assessment questionnaire (SAQ).
• 48% of who stated they had executed a SAQ had submitted it to their Acquirer.
The results of the survey are disturbing and indicate that merchants are misinformed as to what constitutes compliance. A significantly high number of these Level 4 Merchants who mistakenly believed they were compliant stated that they were told by a vendor that compliance entailed nothing more than conducting vulnerability scanning. Upon completing the scanning, the Merchants understood themselves to be compliant and therein lay the problem. Merchants are getting their information primarily from vendors who have a vested interest in selling their product. “Misinformation is a significant problem in the market as vendors are selling their products as facilitating PCI DSS compliance and buyers are not doing their homework” says Orthus Data Compliance Specialist, Courtney Bryan. “If vendors are affiliated with an Acquiring Bank their products or services are even perceived as required for compliance, so after a Merchant makes the purchase they naturally assume they are compliant” states Bryan. “Something has to be done about this problem. Merchants need unbiased advice and assistance in implementing this risk management framework to prevent card data theft and fraud. There is a real knowledge void in the industry about what constitutes PCI DSS compliance and until it is addressed, vendors will continue to exploit it while the Merchants unknowingly carry all the associated business risks.
* A Level 4 Merchant is a company who processes less than 20,000 E-commerce Card Transaction annually as defined by VISA. Speak to your Acquiring Bank toconfirm your Merchant Level.
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(Ez) Revenue Management Solutions Ltd 7th Floor, Dashwood House, 69 Old Broad Street, London, EC2M 1QS
Tel : +44 (0) 20 7495 0773 Fax : +44 (0) 20 7495 7725 http://www.EasyRMS.com Email: [email protected]
“I now know more about my business than I have ever known before” “The bottom line is the system has paid for itself in weeks and there are numerous tangible benefits”
You are invited to find out how - at a Free Seminar on
Wednesday 13th April at 2-00 pm to 5-00pm
at the Strand Palace Hotel, London
Agenda
2.00pm Introduction and Objectives for the DayMike Gadbury, Vice President – Strategic Sales, EasyRMS
To discuss what is important in an RMS To show an example of what is available today To see the impact of RMS at the Strand Palace
2.10pm Discussion: What is Important to You as Revenue Managers?Niels Mekenkamp, Vice President – Consulting Services, EasyRMS
Forecasting Market Segmentation vs other groupings Room Categories and Channels RevPar/other revenues, Arrival/Departure/Guests, in-house forecasts Business Intelligence Data analytics, history, trends, other revenues, planning and scheduling
3.00pm Tea
3.15pm Review of a Revenue Management SystemNiels Mekenkamp, Vice President – Consulting Services, EasyRMS Forecasting Business Intelligence
4.00pm The Impact of an RMS at the Strand PalaceBen Chapman, IT & T Manager - Strand Palace Hotel Control of rates and forecasting Updating of rates, PMS, CRS and Channels Business Reporting for all departments, forecasts and resource planning
4.30pm The GM's Perspective
David MacRae, General Manager - Strand Palace Hotel What has the investment done for the hotel?
4.45pm Q & A5.00pm Close & Bar
To find out more or to register, please email [email protected] call Raissa on 0207 495 0773.
www.EasyRMS.com
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page 17
Ho
tSta
tsB
rief
ing
Dat
aU
KC
hain
Ho
tels
-P
erfo
rman
cere
port
Cur
renc
y:£
Ste
rlin
g
Jan
'11
Jan
'10
Var
b/w
YT
D'1
1Y
TD
'10
Var
b/w
Ro
lling
'11
Ro
lling
'10
Var
b/w
Occ
%58
.859
.9-1.1
Occ
%73
.771
.22.5
Occ
%74.9
72.2
2.7
AR
R86
.082
.04.9%
AR
R90
.086
.44.2%
AR
R90.6
86.6
4.6%
Rev
PA
R50
.649
.13.0%
Rev
PA
R66
.361
.57.8%
Rev
PA
R67.9
62.5
8.6%
Tre
vPA
R82
.781
.81.2%
Tre
vPA
R10
8.4
103.3
5.0%
Tre
vPA
R110.8
104.8
5.7%
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roll
%35
.434
.9-0.5
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roll
%28
.429
.00.6
Pay
roll
%27.9
28.6
0.6
GO
PP
AR
21.5
21.7
-1.2%
GO
PP
AR
41.9
38.1
10.0%
GO
PP
AR
43.8
39.5
10.9%
Jan
'11
Jan
'10
Var
b/w
YT
D'1
1Y
TD
'10
Var
b/w
Ro
lling
'11
Ro
lling
'10
Var
b/w
Occ
%67
.971
.5-3.6
Occ
%82
.279
.52.7
Occ
%83.2
80.6
2.6
AR
R11
6.0
106.6
8.8%
AR
R12
3.0
112.7
9.2%
AR
R124.3
113.2
9.8%
Rev
PA
R78
.876
.33.3%
Rev
PA
R10
1.1
89.6
12.8%
Rev
PA
R103.3
91.2
13.3%
Tre
vPA
R11
1.5
109.3
2.0%
Tre
vPA
R14
1.3
128.3
10.2%
Tre
vPA
R144.1
130.3
10.6%
Pay
roll
%29
.829
.3-0.5
Pay
roll
%24
.325
.41.1
Pay
roll
%24.0
25.0
1.1
GO
PP
AR
42.4
42.4
0.0%
GO
PP
AR
67.5
58.0
16.3%
GO
PP
AR
69.8
59.9
16.5%
Jan
'11
Jan
'10
Var
b/w
YT
D'1
1Y
TD
'10
Var
b/w
Ro
lling
'11
Ro
lling
'10
Var
b/w
Occ
%53
.853
.50.4
Occ
%68
.966
.32.5
Occ
%70.3
67.3
2.9
AR
R65
.263
.82.1%
AR
R68
.068
.4-0.6%
AR
R68.3
68.3
0.0%
Rev
PA
R35
.134
.12.9%
Rev
PA
R46
.845
.33.2%
Rev
PA
R48.0
46.0
4.2%
Tre
vPA
R66
.966
.60.5%
Tre
vPA
R90
.088
.91.2%
Tre
vPA
R92.1
90.2
2.2%
Pay
roll
%40
.540
.0-0.5
Pay
roll
%31
.931
.90.0
Pay
roll
%31.4
31.5
0.1
GO
PP
AR
10.0
10.3
-3.6%
GO
PP
AR
27.6
26.7
3.5%
GO
PP
AR
29.2
27.8
5.2%
The
twel
vem
ont
hsto
Janu
ary
2011
TOTAL UK LONDON PROVINCES
The
mo
nth
ofJ
anua
ry20
11T
heC
alen
dar
year
toJa
nuar
y20
11
page 18bahaTIMES
EditorsNotes:
TheUKCha
inHotelssampleisco
mposed
of51
9ho
telswith
anaverag
eho
telsizeof
184bed
room
s.
Theho
telsprofiled
inthisreportaredrawnfrom
theHotStats
datab
asean
dreflect
theportfoliosan
ddistributionof
theho
tel
chains
that
wesurvey
andwhich
operateprim
arily
inthethreean
dfour-starsectors.
Pleaseno
te:T
hedatasamplesarereview
edan
drebased
each
year
toreflect
thech
ange
sintheHotStats
survey
base.
Asaresult,
perform
ance
ratio
spub
-
lishe
dlast
year
may
differ
from
thoseco
ntaine
dwith
inthisreport.
TRIH
ospita
lityCon
sulting
provides
awiderang
eof
services
toclientsintheho
telsector.Itha
soffices
inLo
ndon
,Dub
aian
dMad
rid.
Con
tact:M
arkDickens,M
anag
ingDirector
HotStats
0207
89222
07mark.dickens@ho
tstats.com
page 19bahaTIMES
FORTHCOMING EVENTS AT A GLANCE
The British Association of Hospitality AccountantsBAHA Administration Office, Suite 6, Merley House Business Centre,
Merley House Lane, Wimborne, Dorset BH21 3AA.
Telephone +44 (0)1202 889430 Fax +44 (0)1202 887967
Email: [email protected] www.baha.co.uk
bahaBRITISH ASSOCIATION of HOSPITALITY ACCOUNTANTS
April 4 BAHA Members Meeting. Latest Forecast presentation by PwC, Londonfrom 6.00pm
April 13 Revenue Management workshop. Strand Palace Hotel from 2.30-5.00pmwith EasyRMS
April 18 BAHA Members Meeting. Details to be confirmed
May 19 PKF Breakfast Seminar. Accounting and Reporting Update for Finance Teamsand Consultants working in the hospitality industry PKF London Offices, FarringdonPlace, 20 Farringdon Road, London EC1M 3AP from 8.00am
June 6 BAHA Taxation forum. London from 6.00pm
June 20 HRMC Revenue Management Debate. London from 6.00pm
July 14 BAHA Quiz Night.
The BAHA Meetings Programme is sponsored by Fourth Hospitality a leadingsupplier of on-demand business intelligence solutions for the Hospitality industry
Gold sponsors include:
Agilysys
Best Western Hotels
Clarity Hospitality
Fourth Hospitality
Global Blue
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Aston Scott
BDO
CMS Hospitality
CTB Accounts
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EasyRMS
Eproductive
FM Recruitment
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Keystep
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Orthus
PAR Springer-Miller
PKF
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Rate Tiger
Shere
StockCheck
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Symon - Digital Signage
Rieo Communications
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TopSource
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Patrons are valued members of the British Association of Hospitality Accountants, providing the Association and itsmembers with a wide range of services and technical advice.
Visit www.baha-uk.org/sponsorsandpatrons.asp to view links to all our patrons.
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