In November 2018, Niagara College became one of Canada’s first post-secondary institutions to form a student chapter of the Hospitality Finance and Technology Professionals (HFTP) industry association. The chapter is now five months old and already is proving to be a hotbed of learning and innovation.
On March 14, the NC chapter partnered with Brock University to host a lecture with Dr. Donald Cyr, professor of finance at Brock. Dr. Cyr’s research is focused on mitigating financial risks in viticulture, and industrial organizations within the wine industry.
Dr. Donald Cyr addressing NC HFTP student chapter.
“Dr. Cyr brought up the concept of weather derivatives. These are financial instruments that business owners, especially in the hospitality industry, utilize to reduce risks,” said HFTP student member Nicole Guinto. “An interesting study he proposed is studying wineries and visitations, which could be applicable to the Niagara Region.”
Annissa Giesbrecht, another student member added, “One of our courses this semester is Financial Management, and it was quite interesting to see the correlation between what we are learning about in class to real world financial tools being used in the industry.”
The HFTP chapter, is governed by a team of enterprising students in every year of NC’s Honours Bachelor of Business Administration – Hospitality degree program.
“The greatest accomplishment of the chapter is the founding of the chapter and establishing the leadership structure,” says chapter president Anna Cherdakova. “It is our priority to ensure the quality of guest speakers and relevance to the chapter’s professional interests.”
Cherdakova met Heather McLean, Head of Brock University’s Student Union, through Professor Osvaldo Avila, Academic Advisor for the BBAH program, at the HFTP chapter’s inaugural December dinner. When Cherdakova asked McLean for help in calling in guest speakers for the next HFTP event, McLean connected her with Dr. Cyr and helped organize the event at the Brock University student bar/pub.
HFTP is already busy planning its next event, a barbeque in the Niagara-on-the-Lake Campus courtyard, on Wednesday, April 10 at noon. The price is $5 and is open to anyone. Following the barbecue, HFTP chapter president Anna Cherdakova will give a presentation for members and guests from the Ontario HFTP Chapter.
Headquartered in Austin, Texas, HFTP is a non-profit association that aims to support financial and technology professionals in the hospitality sector via expert networks, research, certification programs, information resources and conferences/events. HFTP has chapters across the globe, with over 5,000 members worldwide, offering career advancement opportunities, publications, industry research, online, networking tools and more.
