A forum for continuous learning and knowledge-sharing

Recognised as the spokes-group for finance and technology segments of the hospitality industry with an international network of members and stakeholders, Hospitality Financial and Technology Professionals (HFTP) is a hospitality non-profit association headquartered in Austin, Texas, USA with offices in United Kingdom, Netherlands and Dubai. Established in 1952, HFTP uniquely understands the industry’s pressing issues and assists its stakeholders in finding solutions to their challenges more efficiently than any other organisation. HFTP offers expert networks, educational resources, career development programmes, research, leadership opportunities and conferences as well as events. 

While HFTP Association was granted an Indian business license on May 20, 2021, the chapter got formally chartered on June 1, 2021. The organisation provides HFTP a framework for growth within India, with its strategic goals aligning with those of the global body. “HFTP India is a 100 per cent non-profit organisation and our vision to lead and advance the hospitality finance and technology profession by providing a forum for continuous learning and knowledge-sharing,” shares HFTP India Founding Director and Member Ravin Kumar Jhaala. He adds that the HFTP India chapter is led by Rajesh Chopra, President; Shreeharsh Bhandari, Vice President; CA Vishal Thakkar, Treasurer and Dr Vijay Choudhary, Secretary and ably supported by HFTP India Advisor and Founding Member Prakash Shukla and HFTP India Advisor Frank Wolfe. 

Please share details about HFTP membership procedure and its benefits.

HFTP provides hospitality financial and technology professionals with benefits that are tailored to equip individuals with extraordinary tools and resources that guarantee success. With a global network of peers, the members can easily find solutions to challenges in the industry and access a platform of valuable information. HFTP offers membership categories to professionals that serve as hospitality personnel, consultants, suppliers and students. Our membership procedure is very simple. 

How do you plan to increase your membership base?

HFTP India Association will be taking up a phase-wise approach and build member base in India and the Indinan subcontinent.

Involving professional individuals from hospitality finance and technology. 

Offering full-time hospitality students free membership of the Association with all HFTP benefits.

Looking at corporate allied sponsorship as a resource to promote  their company to HFTP members and industry professionals working in hotels, clubs, resorts, casinos and other hospitality companies across the globe.

What challenges did hospitality technology professionals face during the pandemic period? 

Our industry will go through major transformation with digital, cloud, security and data. In my experience as a consultant at VCNS Global, we foresee that the hotels will not just have technology professionals but a blend of data and digital technology and security professionals. We see following as the top concerns that the hoteliers seek our support to handle:

Awareness of cyber security and regulations.

Technology interoperability and understanding of dataset.

Data management. 

Security and privacy as an underlying risk. 

Adoption of cloud and digital responsiveness technologies. 

How do you see technology redefining guest experience in a hotel? 

An efficient and effective hotel technology must be responsive and should acknowledge guest requests instantly. Data is new power and reservation systems are now multichannel connected with Cloud IVR, CRM, Loyalty and BI. Chat-bot and voice-enabled booking process tapping the Next Gen guest to use tech tool as a medium to book rooms. Accepting multichannel payment options is the need of the hour. Cloud adoption and making IT asset light is the new way to look at technology adoption and deployment in hotels. 

Please share HFTP India Association’s future plans.

HFTP India Association will be taking small steps to assure stability and success in the region and deliver value to the member base. Our focus is to grow membership and build a community to help each other and the industry. We will be also focussing on building skills by providing CHAE and CHTP certification programmes to members and on knowledge series sessions on finance, USALI, cyber security and data governance, CAPEX and OPEX and use of technologies in hospitality. We will also be building strong support systems with media partners to organise events and participate as supporting association to industry event and represent finance and technology focus panel, knowledge session and activities. Not this alone, we aim to increase the amount of globally available free online content and increase the recognition of certifications apart from strengthening our partnerships with other associations to the benefit of industry professionals. And last but not the least, we will soon be establishing a mentoring programme.