to Provide Business Intelligence Software to its Portfolio
Denver, CO – September 15, 2008 – Sage Hospitality, a leading hotel development and management company, has chosen ProfitSword, an innovator in web-based intelligence tools for the hospitality industry, to provide business intelligence services to all 49 Sage managed properties. The move will enable property managers to gather, interpret and share detailed financial and statistical information with the corporate office, ownership and each other in real-time.
Sage began using ProfitSword’s ProfitSage Financial Suite as its business intelligence tool in May 2008. The web-based ProfitSage software consists of six modules that interface with the PMS, back office accounting, point of sale, sales automation and payroll systems in order to warehouse critical operational data. The information is then used within the different modules to produce revenue reports, detailed forecasts, line-by-line budgets and hundreds of additional customized reports. ProfitSage also interfaces with Smith Travel reporting to provide comprehensive comparisons to the competitive set. ProfitSage can also pull down some brand guest satisfaction scores directly from the hotel’s brand website.
“ProfitSage provides us with real-time, accurate data in both single property and roll-up formats for property managers, corporate staff and owners,” says Sage Hospitality President & CEO Walter Isenberg. “Instead of viewing yesterday’s data, we now have up-to-the-minute information for each property, each brand within our portfolio, and for each owner’s group we partner with.”
The interfaces to the disparate systems within a hotel operating environment improve the data flow and management practices, creating a new level of accountability for management teams. Financial reporting is often automated and streamlined eliminating the re-keying of data, thus reducing manual intervention and human error. The Forecasting and Budgeting modules within ProfitSage are simple and accurate with increased historical and comparative data available.
ProfitSage provides modules for daily income journals, forecasting, budgeting, accounts payable, purchasing and business planning. Each module interfaces with the others, and since the entire system is web-based, users can view information in real time. This empowers managers with information to make solid decisions that will positively impact the profitability of the hotel. And because the program is custom designed around a company’s chart of accounts – or general ledger, owners, corporate and regional managers can use it to generate consistent, standardized reports across a variety of brands and property types.
“The hotels and the corporate office have hundreds of customized, informative reports and graphs at their fingertips,” says Tili Findley, president of ProfitSword. “Likewise, data is presented in standard industry formats and consistent with general accounting principles so that reports are consistent across hotel brands. This has been increasingly important at the corporate and ownership levels that are involved in multi-brand management.”
Sage began the migration to ProfitSage in May and completed the implementation
recently. Brian Treadwell, Financial Asset Manager for Sage, recognized
an immediate positive impact at the properties. “Having data in real-time
is essential for critical decision making. We don’t have to wait
for the database to ‘refresh’ overnight and we don’t have to wait for the
reports to update – everything is instantaneous.”
Founded in 2001, ProfitSword is an innovator in business intelligence software for the hospitality industry. ProfitSage provides seamless integration of data and real-time information to enhance hotel managers’ decision-making process. ProfitSword is headquartered in Orlando, Florida. For additional information on the company and its customized products and software solutions, contact Colin Findley at (407) 909-8822.
Founded in 1984, Sage Hospitality has strategically grown into one of the largest privately held hotel management and development companies in the nation and is recognized as a leading innovator in the field. During the past eight years, the Denver-based firm has completed more than $600 million in acquisition and development projects, using some of the most unique financing structures in the industry. Sage Hospitality's comprehensive management portfolio includes major international brands for Marriott, Starwood and Hilton as well as independent boutiques and hotels, including the Oxford and the Curtis hotels in Denver.
In 1997, Sage Hospitality pioneered the company's urban redevelopment initiative converting the blighted Joslin's department store in downtown Denver into a showplace Courtyard by Marriott. Since then, Sage Hospitality has preserved and transformed five additional, underused national landmark buildings into award-winning hotel properties that serve as important catalysts for downtown revitalization. Projects include the historic Blackstone hotel in Chicago and the upcoming Portland hotel The Nines in the historic Meyers and Frank building. For more information, please visit www.sagehospitality.com.
|Also See:||PM Hospitality Strategies Installs ProfitSage Business Intelligence Software Throughout Company Portfolio of Hotels / August 2008|
|Hersha Hospitality Management Teams with Profitsword to Provide Business Intelligence Software to its Portfolio / May 2008|
|Larkspur Hotels & Restaurants Installs ProfitSage Business Intelligence Software from ProfitSword / May 2008|
|ProfitSage Business Intelligence Software Fuels Productivity and Profitability at New Castle Hotels & Resorts / June 2006|
|Heavlin Management Company Chooses ProfitSword to Provide High-tech Business Intelligence Solution / May 2005|
|Premier Hotel Management Group Chooses ProfitSword to Provide Business Intelligence Software to its Portfolio / May 2005|
|InnSight Hotel Group Chooses ProfitSword to Provide High-Tech Business Reporting Solution / February 2005|
|ProfitSword, LLC Introduces New Web-based Business Intelligence Software Suite for Hospitality / July 2003|