With the help of Concord�s enterprise business intelligence application, Execuvue® from Aptech Computer Systems in Pittsburgh, Laport had already identified changes in two other revenue-impacting trends:  the rising cost of utilities and a drop-off in telecom revenue.

�With us, it�s all about spotting trends early enough to be proactive.  We work on a 28 day accounting period so getting a signal early in the period that a critical statistic has changed means we can immediately make a positive course correction without waiting until the end of the month,� said Laport. Daily financial analysis like this helps Concord keep focused on the bottom line of both revenue and controllable expenses.

When telecom revenue began declining steeply last year it showed up in Execuvue�s revenue trend analysis.  Concord quickly reexamined its equipment and services to identify irregularities.  First they verified that call accounting systems were programmed correctly, then they checked telecom service plans for unauthorized changes.  At the time, telecom vendors were charging Concord�s hotels per-minute, a cost effective plan for frequent but short calls.  When trend analysis showed that although guest call volume was way down the average call length had increased from 3 to 10 minutes, Concord switched to a per-call payment plan with its telecom providers thus cutting expenses without affecting the guest.  Spotting the call usage trend and adjusting expenses with suppliers saved their properties money instantly.

Similarly, when utility costs skyrocketed in first quarter, 2001 the increase showed up in Execuvue�s �year-to-year utility comparison� report that adjusted automatically for similar occupancies.  By quantifying the increase early Concord was able to identify utility issues that would be addressed later by  a consumption-based energy savings program.  

Concord  uses Execuvue to consolidate each day�s operating data from its hotels at headquarters and then generate customized ad hoc reports for use by its executive management team.  Every morning Concord generates Flash Reports, daily revenue numbers, and targeted statistics on each property and gets them out to the general managers.  Since each property�s RevPAR, occupancy and financial history comparison is visible to all the GMs, it creates a healthy competitive atmosphere, Laport noted.

Several Concord GMs prefer an Excel format for their data analysis, so headquarters emails their Execuvue Flash Reports in an Excel format.  

Because Execuvue has over 260 embedded hotel-industry formulas in the system, Concord was able to include nearly any combination of data analysis requested by its general managers.  �The system lets you access the information the way your brain works.  And it allows me to print the same report information with changes in the timeframe.  This helps us compare expenses like the cleaning and guest supplies used weekly.  We generate the report as an HTML file that can be accessed through the Internet or emailed.  � said Brian Cornell, Concord�s Corporate Director of MIS.  �The big win for Concord has been the ability of our business intelligence system to pull data from the company�s many different back office systems at the hotels.  Even more important to us is the fact that Execuvue can export data seamlessly from Concord�s various property management systems into its corporate accounting system.�

Every night Concord compiles its financial data after receiving each property�s numbers via an Internet download using another Aptech application.  Since Concord operates with a daily accounting close the numbers are always same-day, and executive oversight and corrections take place in real-time rather than month to month.  With Concord�s hands-on management style real-time trend analysis is essential, and has been a critical part of the engine driving the company�s entrepreneurial growth.

Formed in 1986, the Ohio-based management firm aggressively scouts for real estate to add to its portfolio of 23 properties, plus eight hotels under construction and an additional six  in development.  Concord, whose revenues exceed $120 million annually, has purchased or repositioned over $550 million in real estate.  The company owns and manages both full and limited service hotels in seven states.   Their flags include Marriott, Radisson, and Hilton brands.  

Cornell noted that a growing number of mid-sized management companies are implementing business intelligence applications like Execuvue to proactively manage their properties. The big hospitality chains have relied on large back office reporting systems to provide management direction for years. Until recently these systems were custom designed by SAP, IBM and other companies at great expense.  Now, however, with more flexible, easier to use business intelligence applications like Execuvue that utilize the Internet, the playing field is being leveled in favor of mid-sized companies such as Concord.

�Aptech� s staff are all hotel people.  When you explain how you manage your operation, they get it right away, � observed Cornell.  �Their industry experience shows up in the functionality of Execuvue, and the mapping they�ve put in the system jump starts our ability to mine the data and get results.  We went live with Execuvue after about a week, which was a requirement given our growth.� Cornell concluded,  �When you want to run with the big dogs you�d better use the software that enables  you.�