I live in the technology space. I interact with most of the vendors that provide technology solutions, but I spend as much time with those in charge of the technology for hotels, casinos, vacation ownership and cruise lines. It is always eye opening when the operators share challenges and successes. Their sharing inspires us to address the issues that face the industry. We are very thankful that those who write for us are not traditional writers, but most are high-level consultants who share their experiences and knowledge with you. They do an amazing job. As I read through the articles, I remember Victor Vesnaver helping us with the  Executive Vendor Summit program earlier this year and insisting we have a session on blockchain. I finally agreed and it was a powerful session. Now everyone is talking blockchain and how it might impact the hotel industry. We thank “Chats” of Deloitte Consulting and his team for this great update. Ron Strecker, the CFO from Al J Schneider Company, loves technology more than any CFO I know. His article “Fishing for Data” is so true. You have to love the weekly meetings where senior management is trying to decipher numbers. Ron Hardin, who is establishing himself as a top industry security expert, looks at recent breaches as well as the release of Verizon’s 2017 Data Breach Incident Report. I remember a session I did with three leading industry CIOs, and when I asked about the possibility of a breach they all agreed it isn’t a question of if, only a question of when. That is frightening. Who would have known that the next hot topic in our industry could be central authentication? Diane Estner, Cathy Zatloukal and Dayna Kully received great feedback from many of the major hotel companies and they ended the article with the “must ask” questions.

 

We cover technology for the industry and much of it helps properties generate revenue. Not all solutions are designed to generate revenue, but many are of equal importance, perhaps even more. Yes, we are talking about those often-neglected solutions that are in the back of the house. Do you rely on Excel spreadsheets for financial statements, purchasing and inventory, reporting? How many of these systems are outdated? According to Jeremy Rock, too many. Yes, we like glitz also, but when you're building a business you need a strong foundation, and the accounting and financial systems are what you need to build upon. Jeremy does an excellent job explaining how and why. 

 

Finally, I am going to insist you go to page 172 and read this issue’s Who’s the Reader. It will put a smile on your face. If you are a tech person, you will laugh out loud at his first job. Even though I haven’t seen or talked to Bruce in ages, he is a perfect example of the wonderful people that make this industry great. Good luck, Bruce! 

- Rich