Major Changes to Lodging Industry Uniform System of Accounts, Tenth Edition
AUGUST 8, 2008. The Financial Management Committee of the American Hotel and Lodging Association (AH&LA), in conjunction with the Hospitality Financial and Technology Professionals (HFTP), published the tenth edition of the Uniform System of Accounts for the Lodging Industry (USALI) in the fall of 2006. The first edition of the USALI was published in 1926 by the Hotel Association of New York City. The purpose of the first USALI was to establish a uniform responsibility accounting system for the lodging industry.
Since the first edition was published 1926 much as changed in the industry. The most recent edition of the USALI addressed the current industry trends, which emerged since the 9th edition was published in 1996. Some of the evolving issues which were addressed by the 10th edition included how to deal with condo hotels, reporting for internet wholesales, and resort fees, which seems to have particular relevance in this day and age of ala carte pricing which the airline industry has recently adopted. The 10th edition also provides clarification to ambiguous guidance found in the ninth edition (i.e. allowances, attrition and cancellation fees, definition of available rooms).
In conjunction with the publication of the 10th edition the Financial Management Committee prepared brief summaries of the key sections of the 10th edition, that highlight the major changes found in the tenth edition of the USALI. These summaries first appeared in Lodging magazine and The Bottom-Line. Reprint permission was received from both publications.
AH&LA Financial Management Committee (12/17/07)
Chairman - Mel Wilinsky - (808) 921-6510 - [email protected]
Vice-Chairman - Mike Craft - (901) 762-5404 - [email protected]
Communications - Robert Mandelbaum - (404) 842-1150 - [email protected]
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