Arizona Tribune - Folio Expands Hospitality Payment Suite With Launch of New Expense Product at HITEC 2026

DURHAM, NC / ACCESS Newswire / June 16, 2026 / Folio, the financial operations and procurement platform purpose-built for hospitality operators, today announced Folio Expense, the hospitality industry's first fully-embedded expense management system that is directly integrated into a hotel procurement and bill payment platform. The new solution will be unveiled at Booth # 751 during the 2026 Hospitality Industry Technology Exposition and Conference (HITEC), taking place June 15-18 in San Antonio.

Built specifically for hospitality operations, Folio Expense offers property managers control and visibility for purchases that may be necessary outside negotiated contracts and traditional procurement workflows. These purchases may include last-minute runs for supplies, paying for services rendered on-site, or procuring a gift for a guest. Unlike traditional expense tools that operate separately from procurement systems, Folio Expense offers on-property teams a centralized place to purchase anything they need to operate the property, all within management's highly customizable guardrails. It also connects every expense to a centralized budget, including all orders, inventory counts, invoices, transaction approvals and payments, within a single platform.

"Hospitality operators work incredibly hard to manage costs through negotiated contracts and approved vendors, but there will always be operational expenses on the ground," said Kate Adamson, CEO and co-founder of Folio. "Purchases made on personal cards are not only inconvenient for employees, but they also create extra work for finance teams: reconciliation, invoicing other properties from shared expenses, limited visibility and fragmented reporting. Folio Expense brings those purchases and approvals into one managed system that helps guide smarter buying outcomes overall."

Folio currently helps hospitality teams streamline buying, bill processing and payments while optimizing spend through GPO and approved vendor programs. However, operators still face significant unmanaged expenses outside of those channels. Many of those purchases are made using personal credit cards, disconnected expense platforms, or manual reimbursement processes. Now, hotel management companies can buy and pay for whatever they need, from one platform.

Folio Expense is purpose-built for property managers, with key features designed to support the real-world needs of multi-entity operations. These include:

• Auto-code: Cards can be linked to specific departments for automated accounting as purchases are made

• Faster financials: Account for expenses immediately, through the same approval processes as all other purchases

• Multi-entity accounting: Split expenses between multiple properties, with auto-transfers

• Detailed controls: Issue dedicated cards for specific budgets or roles for immediate use, with clear pending limits and category controls

• Handle reimbursements: Auto-transcribe, auto-reconcile, and auto-code receipts with built-in AI

• Comprehensive visibility: Manage payments alongside all other Folio orders and invoices

• Earn rewards: Retain even more rewards on operational spend

"Because the cards are fully integrated into the Folio platform, operators manage both negotiated purchasing and petty cash spend in one place. For managers, if spending is not managed centrally, it cannot be optimized. With Folio Expense, they can eliminate disconnected systems and reduce manual reconciliation, while gaining more rebates, tighter controls, more real-time visibility, and a simpler way to manage every dollar spent," added Adamson. "But we are not just solving a problem for managers. Folio Expense makes the lives of on-property teams easier through real-time checkbook availability, faster financial reporting, and less receipt chasing."

Folio will showcase Folio Expense at Booth #751 during HITEC 2026, where attendees can see a live demo of more optimized spending. For more information, please visit folio.co.

About Folio | Folio is an award-winning financial operations platform that helps properties turn back-office complexity into competitive advantage with a modern, all-in-one procure-to-pay solution, which includes; Folio Buy: a centralized, managed marketplace; Folio Inventory: fast counting and asset accounting; Folio Bills: AI-driven invoice processing; and Folio Pay: streamlined payments via virtual card, check, and ACH. Folio's AI-powered workflows save teams time and money with rapid implementations. Two years post-launch, Folio powers hundreds of hotels and is on track to power a billion dollars in annual purchasing volume. For more information, please visit folio.co.

NOTE: Folio Services Inc. is a financial technology company and not a bank. Banking products and services are offered by Core Bank, Member FDIC. Folio Visa Corporate Cards are issued by Core Bank, Member FDIC, pursuant to a license from Visa Inc.

CONTACT:
Kate Adamson
[email protected]

SOURCE: Folio

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