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The Evolution of Hospitality Finance

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CFO

From Bookkeeping to Strategic Leadership; Exploring how the role of the CFO in hospitality has shifted from traditional financial management to becoming a strategic partner in brand growth, sustainability, and innovation.

By Hiral Patel, CFO & Operations Director, Chalet Berezka

The Evolution of Hospitality Finance: From Bookkeeping to Strategic Leadership

Over the past few decades, the hospitality industry has experienced significant transformation, fundamentally altering how businesses operate and respond to shifting market dynamics. Central to this evolution is the role of the Chief Financial Officer (CFO), which has transitioned from that of a traditional financial steward focused on bookkeeping and regulatory compliance to a strategic partner instrumental in driving brand growth, sustainability, and innovation. This evolution is characterized by the increasing integration of technology, particularly artificial intelligence (AI) and data-driven methodologies, which have not only reshaped financial management but also the broader landscape of hospitality.

The Traditional CFO: Focused but Reactive

Historically, CFOs primarily functioned as custodians of financial records, ensuring meticulous documentation and the preparation of comprehensive financial statements for stakeholders—practices that afforded limited insights into forthcoming operational strategies. Their predominant attention was directed toward the analysis of historical financial data, with an overarching goal of cost control and the preservation of profitability. These responsibilities, though essential, often restricted their capacity to engage proactively with dynamic business environments.

Furthermore, significant portions of their time were consumed by the necessity to ensure compliance with stringent financial regulations and reporting standards, diverting focus from strategic initiatives. Consequently, while traditional CFOs played a key role in safeguarding financial integrity, their influence was predominantly characterized by a reactive stance, with limited involvement in shaping forward-looking strategies that could drive long-term growth and innovation.

The Shifting Landscape of Hospitality

As the hospitality industry confronted intensified competition, rapid technological advancements, and changing consumer preferences, the need for a more integrated and proactive financial strategy became increasingly apparent. This evolution brought forth various challenges and opportunities that required a fundamental reassessment of the CFO’s role.

The emergence of alternative lodging options like Airbnb and the rise of boutique hotels demonstrated that reliance on traditional financial metrics was insufficient for strategic decision-making. Modern travelers now value personalized experiences and sustainability, prompting hospitality brands to pivot quickly to remain relevant and appeal to a more conscientious clientele. Moreover, the growing availability of AI tools, machine learning, and advanced data analytics has introduced powerful new frameworks capable of transforming how decisions are made across an organization.

With guests and stakeholders alike demanding greater transparency and accountability, especially around sustainability and social responsibility, hospitality companies are being compelled to revise their business practices not only from a financial perspective but also from an environmental and ethical one.

The Emergence of the Strategic CFO

In response to this evolving landscape, the role of the CFO has undergone a profound transformation. Today’s CFO is no longer simply a monitor of financial health—they are a critical player in shaping corporate strategy and long-term vision. Leveraging financial insights and market data, CFOs influence decision-making across brand development, investment prioritization, operational optimization, and geographic expansion.

This strategic shift necessitates a comprehensive understanding of both internal financial dynamics and external market trends. With the support of data analytics, CFOs can now anticipate market movements and evaluate competitive landscapes more effectively than ever. These capabilities inform decisions around resource allocation and capital investment, directly contributing to sustainable growth.

Furthermore, CFOs are increasingly working cross-functionally, aligning closely with departments such as marketing, operations, and HR. This collaborative approach ensures that financial decisions are synchronized with operational realities and business goals. It fosters a more holistic perspective on company performance—one that considers both balance sheets and customer satisfaction metrics.

AI and Data Analytics: Tools of Transformation

A major force driving this transformation is the integration of artificial intelligence and data analytics into the financial domain. These technologies allow CFOs to move beyond traditional analysis and embrace predictive models, scenario planning, and real-time decision support.

By applying machine learning to historical performance data, CFOs can more accurately forecast revenue, predict consumer behavior, and fine-tune pricing strategies based on seasonality and competitor dynamics. For example, predictive models can analyze booking trends and optimize revenue management strategies, helping maximize RevPAR without over-relying on discounting.

AI also enhances operational efficiency through automation. Tasks such as data entry, compliance checks, and invoice processing are increasingly being handled by intelligent systems, reducing human error and freeing up finance teams to focus on strategic initiatives. Additionally, AI-driven platforms provide interactive dashboards and real-time visualizations of key performance indicators (KPIs), enabling CFOs to communicate financial narratives more clearly to stakeholders.

Embedding Sustainability into Financial Strategy

As sustainability becomes a pillar of modern business, CFOs are assuming a leading role in integrating environmental and social responsibility into financial frameworks. This includes developing metrics that quantify the financial impact of sustainability programs—from investments in energy-efficient systems and waste reduction to sustainable sourcing and ethical labor practices.

CFOs are tasked with evaluating the return on these investments, not only in terms of direct cost savings but also in how they affect brand equity, stakeholder trust, and regulatory compliance. For instance, investing in smart energy systems might yield long-term financial savings, but also enhances the company’s reputation among environmentally conscious consumers.

Moreover, transparency in sustainability reporting has become a critical expectation. CFOs play a vital role in crafting reports that convey both progress and accountability, cultivating confidence among investors, guests, and the broader public. Their ability to connect sustainability goals with financial outcomes helps shape corporate strategies that are both responsible and resilient.

Enhancing Customer Experience through Financial Insight

The CFO’s role has also extended into the domain of guest experience. Through data analysis, CFOs can contribute to personalized engagement strategies, identifying what drives satisfaction and loyalty. Booking patterns, seasonal preferences, and guest feedback can all be mined for insights that inform strategic planning.

For example, by analyzing demand surges, CFOs can advise on optimal staffing levels or service availability to ensure both cost-efficiency and high service standards. Real-time feedback analysis allows CFOs to spot trends in satisfaction and recommend changes that impact both operational effectiveness and revenue growth.

This guest-centric financial leadership is particularly valuable in a highly competitive market where brand reputation and experience differentiation drive repeat business.

Leading Through Change: Challenges and Responsibilities

Despite the opportunities presented by AI and data-driven strategies, several challenges remain. Chief among them is the need for cultural and skillset transformation. Many finance teams are not yet fully equipped to implement or interpret AI-powered tools, making workforce upskilling a top priority. CFOs must champion learning, adaptability, and innovation within their departments.

Cybersecurity and data privacy are also growing concerns. As data analytics becomes more integral to operations, CFOs must work closely with IT to establish governance frameworks that ensure compliance with regulations and protect sensitive information.

Finally, implementing AI tools often demands a shift in organizational mindset—from instinct-driven to data-informed. CFOs must lead this shift by promoting a data-centric culture that values cross-departmental collaboration and strategic experimentation.

The Future CFO: Adaptable, Insightful, and Purpose-Driven

Looking ahead, the role of the CFO in hospitality will continue to expand. As the industry evolves, future CFOs will be expected to act as catalysts for brand innovation, drivers of sustainability, and architects of organizational resilience. Their ability to navigate uncertainty—be it economic volatility, geopolitical disruptions, or shifting consumer behavior—will be critical.

CFOs who embrace AI, champion sustainability, and foster collaboration will be best positioned to guide their organizations through complexity and position them for lasting success.

Conclusion: From Numbers to Narrative

The transformation of the CFO’s role in hospitality—from traditional financial management to strategic leadership—marks a turning point in how organizations approach growth, innovation, and responsibility. Today’s CFOs are not just stewards of financial health; they are storytellers of value, architects of strategy, and leaders of change.

By harnessing data, embracing sustainability, and shaping holistic financial frameworks, CFOs are helping build a hospitality industry that is not only profitable, but purpose-driven and future-ready.

Financial

ADIB’s Retail Banking Chief Discusses Market Leadership and Product Innovation Strategy

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Exclusive Interview with Amit Malhotra, Group Head of Retail Banking, ADIB

Amit Malhotra ADIB
Amit Malhotra, Group Head of Retail Banking, ADIB
  1. You launched the remittance service “Remit!” this month in collaboration with Visa. Why might this service contribute to the expansion of your business? How have customers responded to it? And is it limited to the UAE market, which is seeing a growing influx of migrant labour?

The launch of “Remit!” with Visa represents an important milestone for ADIB, expanding our product portfolio and meeting the evolving needs of customers who increasingly require secure, rapid, and cost-effective remittance solutions. It also reflects the bank’s unwavering commitment to innovation, customer-centricity, and financial inclusion.

The UAE, with its large and growing expat population, provides a strong foundation for such services, and remittances remain a critical financial lifeline for many residents. ADIB’s new service leverages the power of Visa’s global network to deliver fast, reliable, and transparent cross-border transfers. This offering not only reinforces ADIB’s position as a leader in digital banking solutions but also addresses the evolving needs of a diverse customer base in one of the world’s largest remittance markets. With a large and ever-growing expatriate population, the demand for secure, rapid, and cost-effective remittance solutions is essential and

the launch of “Remit!” with Visa Direct is a strategic response to the UAE’s unique market dynamics. Visa Direct, known for its real-time payment capabilities, empowers ADIB customers to send funds internationally with unprecedented ease and speed. Transfers that once took days can now be completed within hours—This “remittance at your fingertips” approach transforms the user experience, removing traditional barriers and complexities that have long characterized cross-border payments.

Early feedback has been highly encouraging. Customers value the seamless integration with Visa’s global network, which allows transfers to be completed within hours rather than days. They also appreciate the user-friendly app interface, responsive customer support, and the added confidence of Visa’s robust security protocols. These features have proven particularly reassuring for first-time remittance users.

At present, “Remit!” is tailored for the UAE market. However, given the scale of Visa’s infrastructure, the platform is designed with future scalability in mind, creating potential for expansion into other markets with similar demand.

  1. What is the volume of investments the bank has injected into new products since the beginning of the year, and what are your expectations for the fourth quarter?

ADIB has consistently invested in new products throughout the year as part of its broader commitment to innovation and growth solidifying its reputation as a market leader in Islamic banking. While specific figures are not disclosed, our strategy prioritizes supporting emerging opportunities and diversifying our product offerings. These include fractional sukuk This innovative product allows a wider range of customers to participate in sukuk investments by lowering the minimum investment threshold, making Islamic finance more accessible and flexible.

Looking to the fourth quarter, we expect momentum to remain strong, with a focus on solutions that address evolving customer needs and position ADIB for sustained long-term growth. The Exceed Rewards Program provides customers with enhanced opportunities to earn and redeem points across a variety of partners and platforms. This program is tailored to deepen customer engagement and loyalty while offering tangible value. Enhanced ATM and CDM Machines: Investment in upgraded ATM and Cash Deposit Machines (CDMs) has modernized branch and self-service banking. These machines now offer improved reliability, increased security, and expanded functionality, catering to evolving customer expectations for convenience and efficiency. In response to the growing demand for digital banking, ADIB has rolled out more than 30 new digital services. These encompass everything from account management and mobile payments to advanced analytics and customer support, ensuring that clients have access to seamless, secure, and personalized banking experiences.

 Looking to the fourth quarter, we expect momentum to remain strong, with a focus on solutions that address evolving customer needs and position ADIB for sustained long-term growth.

  1. Do you intend to launch a new product before the end of the current year?

Innovation remains a central focus for ADIB, and this year has already seen the successful launch of market-first offerings, including the pioneering Smart Sukuk platform. Our strong pipeline of new initiatives reflects this momentum.

While details cannot be shared at this stage, we are actively developing a range of products designed to set new benchmarks in Islamic finance and digital banking. As the year progresses, we expect to announce further launches that demonstrate our commitment to delivering value-driven, Sharia-compliant solutions.

  1. How many fractional sukuks are currently available on the bank’s platform launched this year, and what is their total size?

ADIB’s Smart Sukuk platform currently offers around 70 sukuk listings, representing a diverse and high-quality suite of Sharia-compliant fixed-income securities. These listings provide retail investors with access to opportunities that were previously reserved for institutional players.

The platform’s fractional model has lowered the minimum investment threshold from USD 200,000 to just USD 1,000, significantly broadening access and participation. Each sukuk varies by issuer, maturity, yield, and asset structure, enabling investors to build well-diversified portfolios in line with their financial objectives.

  1. What are your financial performance expectations for the bank this year, in terms of growth of profit and returns?

Building on strong momentum in the first half of the year, we expect continued momentum. This performance will be underpinned by solid demand in customer finance, particularly in retail, where ADIB now holds the leading market share in personal and home finance.

Our strategy also emphasizes diversification, with a clear focus on growing non-funded income and fee-based revenues to ensure greater stability and sustainability. With our strong market position and resilient operating model, we are confident in our ability to deliver superior returns and long-term value for all stakeholders.

  1. Does the bank have any new expansion plans in existing markets or plans to enter new markets next year?

Our near-term focus is on deepening our presence in core markets where ADIB already enjoys a strong footprint, such as the UAE and Egypt. The priority is to strengthen relationships with existing customers by enhancing cross-sell opportunities, upgrading digital platforms, and expanding advisory and support services.

By tailoring solutions and offering integrated product bundles, we aim to deliver more value and build lasting relationships. This approach ensures that growth is sustainable, while leveraging ADIB’s strong brand reputation in markets where we already have scale and expertise.

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Rent Instalments Dubai: How Slices Reshape Tenant Loyalty

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Omar Abu Innab

By Omar Abu Innab, CEO & Co-founder

In Dubai, the handover of a rent cheque often feels like a financial earthquake. For many tenants, it is the single largest outgoing of the year — one that empties savings accounts, spikes anxiety, and disrupts liquidity overnight. Traditional rent structures, whether annual lump sums or quarterly payments, may suit landlords, but they rarely reflect the way people actually earn and spend money. Salaries arrive monthly, bills are spread weekly, and life’s surprises never wait for cheque dates.

This mismatch does more than strain finances. It creates uncertainty and detachment. Tenants under pressure from upfront costs are less likely to renew, more likely to negotiate aggressively, and often hesitant to see their rental as a long-term home.

The Slice Effect: A Shift in Behaviour

Break the rent into twelve manageable instalments, however, and the entire psychology changes. Rent instalments in Dubai don’t just ease cash flow; they reframe how tenants view their homes. Instead of confronting a yearly burden, rent becomes a predictable routine woven into monthly salary cycles, much like utilities or car payments.

This subtle shift encourages tenants to stay longer. Not because they are tied down, but because they no longer face the stress of large financial shocks. Rent is reframed from a hurdle into a lifestyle expense, creating loyalty that landlords value. Lower turnover means fewer vacant periods, steadier income, and stronger landlord-tenant relationships.

Rent Now, Pay Later: A Quiet Revolution

Dubai’s rental market, once dominated by cheque culture, is transforming. Platforms like Keyper have introduced Rent Now, Pay Later (RNPL), enabling tenants to pay monthly while landlords continue receiving rent on their preferred schedule — even upfront.

The dual benefits are striking. Tenants enjoy breathing space and improved cash flow. Landlords retain financial security and stability. Automation bridges the gap, ensuring seamless transactions. Beyond convenience, RNPL creates ripple effects: tenants channel savings into investments or lifestyle upgrades, landlords attract stronger demand, and properties offering RNPL gain a competitive edge in the market.

Trust Through Proptech

Scepticism around flexible payments is natural. Landlords often worry about defaults or unreliable tenants. Proptech innovation addresses this head-on. By embedding tenant screening, open banking, and digital KYC processes, platforms ensure that only qualified tenants gain access to instalment options.

This screening provides landlords with confidence while giving tenants a frictionless, subscription-style experience. The outcome is a healthier rental ecosystem where both sides trust the process. Properties listed with RNPL attract interest faster, lease quicker, and enjoy higher renewal rates.

More Than Money: Cultural Change in Renting

Flexible rent payments are not only about financial management — they represent a cultural shift. Tenants paying monthly are more likely to personalise their homes, join neighbourhood communities, and think long-term. They do not just occupy apartments; they build lives in them.

In a global city like Dubai, where talent continually arrives from abroad, this cultural stickiness is invaluable. By reducing churn and fostering belonging, RNPL aligns Dubai with international leasing standards. For professionals moving from cities like London or New York, monthly rent instalments feel familiar, making Dubai more competitive as a destination.

Why Instalments Mean Belonging

The shift from lump sums to instalments does more than spread payments. It changes perceptions. Tenants breathe easier when the mountain of rent is broken into smaller hills. They stay longer, invest emotionally in their homes, and engage with their communities. For landlords, this means steadier returns. For the city, it enhances financial well-being and strengthens community ties.

Cheque culture once defined Dubai’s property landscape. Today, rent instalments in Dubai — powered by RNPL — are writing a new narrative. Flexible payments bring stability, foster loyalty, and encourage tenants not just to rent, but to settle in.

Read our previous post on Ryan Acquires Dhruva Stake Expanding Middle East Presence

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US based Ryan and Dhruva Form Strategic Joint Venture to Expand Global Tax Services Footprint

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Ryan and Dhruva Form Strategic Joint Venture

Dhruva, a premier tax advisory firm with deep expertise across the Middle East, India, and Asia, today announced a strategic investment by Ryan, a leading global tax services and software provider. This partnership marks a significant step in Ryan’s expansion into the Middle East, India, and Asia, enhancing its ability to serve clients in high-growth markets while reinforcing its global capabilities.

As part of the transaction, US based Ryan will acquire a majority stake in Dhruva, creating a joint venture in India, Ryan’s senior leadership will join the Board of Dhruva, Partners of Dhruva will acquire equity in Ryan, ensuring long-term alignment, and Dinesh Kanabar, CEO of Dhruva Advisors, will take on the role of Vice Chairman at Ryan.­

Founded in 2014 by Dinesh Kanabar, Dhruva has rapidly grown into one of the most respected tax advisory firms in India and the UAE. With 38 partners and senior leaders, supported by over 500 professionals across 11 offices in the Middle East, India, and Singapore, Dhruva advises leading businesses across industries such as aerospace, automotive, chemicals, finance, healthcare, technology, and real estate.

“Joining Ryan is a major milestone in Dhruva’s global growth journey as this partnership extends our global reach,” said Dinesh Kanabar, Chairman and CEO of Dhruva. “My leadership team and I chose to partner with Ryan because we believe it provides the strongest platform for our clients and team members for continued success. I am encouraged by the alignment of our respective leadership teams to meet the growing needs of our multinational clients and look forward to driving that growth in my new role as Vice Chairman at Ryan.”

“This partnership with Ryan is a defining moment for Dhruva. For the Middle East, this partnership is more than just scale – it’s about combining global expertise and regional insights. Together we are not only expanding scale but also shaping the future of tax advisory in the Middle East,” said Nimish Goel, Partner and Head of Middle East at Dhruva.

“We are excited to enter into this strategic partnership with Dhruva, which gives us a client-facing presence in the Middle East for the first time. The combination of our two firms will provide clients with unrivalled service in one of the fastest-growing markets for tax advisory services in the world,” said Tom Shave, President, Europe & Asia Pacific, Ryan.

Dhruva’s services span corporate tax and regulatory advisory, M&A tax structuring, indirect tax, transfer pricing, and cross-border trade compliance.

This move builds upon Ryan’s longstanding presence in India, where the firm has operated for over two decades with a primary office in Hyderabad, while marking its first client-facing entry into the Middle East. Together, Ryan and Dhruva will now expand across the Middle East and Asia with offices in Dubai, Abu Dhabi, Riyadh, and Singapore.

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