|By Business Wire||
|July 15, 2014 09:23 AM EDT||
PKF Hospitality Research, LLC (PKF-HR) today announced the release of the “Hotel Occupancy Tax Calculator,” an Excel-based tool that gives local agencies the ability to incorporate objectively developed forecasts into their estimates of future hotel occupancy tax collections.
“The calculator helps agencies improve their projections and avoid operational inefficiencies, such as unjustified budget cuts, hiring freezes and changes in tourism promotion efforts,” said Jamie Lane, senior economist with PKF-HR.
The award-winning calculator estimates taxed revenues for the next five years using the PKF-HR Hotel Horizons® econometric forecasting methods. These highly accurate forecasts come from estimating the stable statistical relationship between measures of the economy and hotel performance for the metropolitan area in which the tax district is located.
“The Hotel Occupancy Tax Calculator allows users to customize their forecasts based on the taxing juristiction historical data and also make alternative assumptions about key inputs, such as occupancy tax rates,” Lane added.
The PKF-HR effort to assist local agencies dependent on the occupancy tax was recognized with an “Extra! Extra! Hear All About It” award at the 2014 Americas Lodging Investment Summit (ALIS) conference.
“The calculator makes the work of Destination Marketing Organization (DMO) and Convention and Visitor Bureau (CVB) managers easier by automating and improving occupancy tax revenue predictions. Important local agencies, such as stadium authorities, airport authorities and other public/private ventures, also will benefit. Linking future occupancy tax collections to future economic and hotel market conditions in jurisdictions represents a major innovation,” said R. Mark Woodworth, president of PKF-HR.
“Historically we have prepared our own lodging forecasts to project the tax revenues that will fund our organization,” said Gregory Pierce, EVP and CAO/CFO of the Atlanta Convention & Visitors Bureau. “The PKF-HR Hotel Occupancy Tax Calculator provides a rigorous and objective opinion that we weigh against our internal estimates.”
DMOs and CVBs can supplement the benefit of the Hotel Occupancy Tax Calculator by analyzing additional editions of the Hotel Horizons® reports that drive the tool. “In addition to the Hotel Horizons® forecast report for Chicago, we added subscriptions to Hotel Horizons® reports for five other lodging markets. This allows us to benchmark our hotel performance versus some of our closest competitors,” said David E. Czechowski, director and senior economist in the research and analysis department of Choose Chicago.
A new report entitled “Projecting Hotel Occupancy Tax Revenues: An Objective Approach” has been prepared by Natalie Koller, a consultant in the Atlanta office of PKF Consulting USA, LLC. The article describes how DMOs and other agencies benefit from more accurate forecasts of lodging revenues. The article can be downloaded gratis from www.pkfc.com/occupancytaxcalculator.
PKF-HR will be demonstrating the Hotel Occupancy Tax Calculator at the Destination Marketing Association International annual convention in Las Vegas from July 21 to 23, 2014. In addition, Mr. Woodworth will be presenting the PKF-HR lodging forecasts during a session entitled, “Travel and Tourism Industry Forecasts.” The session is scheduled for 3 PM on Wednesday, July 23. “We encourage everyone in attendance to attend Mark’s presentation, and stop by our booth in the exhibition hall during the Business Exchange for a demonstration,” Lane stated.
To purchase the Hotel Occupancy Tax Calculator for one of 55 markets in the U.S., please visit http://www.pkfc.com/store/products.aspx?CategoryID=452.
ABOUT PKF CONSULTING USA, LLC
Headquartered in San Francisco, PKF Consulting USA, LLC (www.pkfc.com) is an advisory and real estate firm specializing in the hospitality industry. PKF Consulting USA, LLC operates two companies: PKF Consulting USA and PKF Hospitality Research, LLC. The firm has offices in New York, Boston, Indianapolis, Chicago, Philadelphia, Washington DC, Atlanta, Jacksonville, Orlando/Tampa, Dallas/Houston, Los Angeles, Bozeman, and San Francisco.
JFrog has announced a powerful technology for managing software packages from development into production. JFrog Artifactory 4 represents disruptive innovation in its groundbreaking ability to help development and DevOps teams deliver increasingly complex solutions on ever-shorter deadlines across multiple platforms JFrog Artifactory 4 establishes a new category – the Universal Artifact Repository – that reflects JFrog's unique commitment to enable faster software releases through the first pla...
Oct. 8, 2015 10:00 PM EDT Reads: 611
As-a-service models offer huge opportunities, but also complicate security. It may seem that the easiest way to migrate to a new architectural model is to let others, experts in their field, do the work. This has given rise to many as-a-service models throughout the industry and across the entire technology stack, from software to infrastructure. While this has unlocked huge opportunities to accelerate the deployment of new capabilities or increase economic efficiencies within an organization, i...
Oct. 8, 2015 10:00 PM EDT Reads: 249
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
Oct. 8, 2015 10:00 PM EDT Reads: 549
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Oct. 8, 2015 09:45 PM EDT Reads: 1,239
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Oct. 8, 2015 09:30 PM EDT Reads: 195
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Oct. 8, 2015 09:30 PM EDT Reads: 184
The APN DevOps Competency highlights APN Partners who demonstrate deep capabilities delivering continuous integration, continuous delivery, and configuration management. They help customers transform their business to be more efficient and agile by leveraging the AWS platform and DevOps principles.
Oct. 8, 2015 09:30 PM EDT Reads: 225
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Oct. 8, 2015 09:30 PM EDT Reads: 265
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at @DevOpsSummit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
Oct. 8, 2015 09:15 PM EDT Reads: 210
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Oct. 8, 2015 09:15 PM EDT Reads: 269
Manufacturing has widely adopted standardized and automated processes to create designs, build them, and maintain them through their life cycle. However, many modern manufacturing systems go beyond mechanized workflows to introduce empowered workers, flexible collaboration, and rapid iteration. Such behaviors also characterize open source software development and are at the heart of DevOps culture, processes, and tooling.
Oct. 8, 2015 09:00 PM EDT Reads: 1,086
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
Oct. 8, 2015 09:00 PM EDT Reads: 177
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 8, 2015 09:00 PM EDT
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Oct. 8, 2015 08:45 PM EDT Reads: 266
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
Oct. 8, 2015 08:15 PM EDT Reads: 150