News for the Hospitality Executive
Reporting - The Hotel Industry's First Multi-Brand, Multi-Hotel Pacing Tool
Orlando, FL – May 25, 2012 – As management companies expand their multi-branded portfolios, the need for greater control and understanding of the company’s data and information becomes even more critical. ProfitSword continues to meet the needs of hoteliers by introducing the new ProfitPace Sales Pacing and Reporting solution for hospitality – the hotel industry’s first brand-agnostic, multi-property pacing tool.
For most hotels, a pacing tool is essential and typically contained within the sales/booking solution at each individual hotel. However, creating pace reports in a roll-up fashion with several properties (multi-branded) or an entire portfolio is a time consuming and cumbersome process. Analysts typically have to aggregate the data from multiple sources into a single spreadsheet format, plagued by human error and corrupted data.
ProfitPace eliminates these issues by seamlessly collecting group booking data from the different sales systems (Delphi, SalesPro, ABC Events, Opera S&C, etc.) and transient booking data from the PMS systems and aggregating the data into a single warehouse without human intervention. Users can then view a plethora of reports and change the parameters of each report to view different subsets of the data. In addition, drill down features are available to allow users to see the details behind the numbers, including group information, booking sources, and even SIC codes. Users can see week-over-week, month-over-month, or year-over-year changes for a single hotel, the entire portfolio, or any grouping of the portfolio. Reports can show production numbers split into new business, increases, decreases, cancellations, and various other components of measurement. Sales Leaders can even see reports on the productivity of an individual sales manager.
According to Tili Findley, co-President and Partner at ProfitSword, ProfitPace was the next logical step in the evolving needs of B.I. and reporting. “Not everyone has an enterprise sales solution that can create reports for individual properties as well as portfolio related reports,” states Findley. “The majority of sales solutions are property based and portfolio-wide reporting is a challenge. The ProfitSage software already pulls sales booking data from a multitude of sales solutions, and ProfitSage pulls the transient on-the-books data from the PMS systems as well. As many of our clients began asking us to create pace reporting functionality, ProfitPace was a natural progression for our family of solutions.”
“ProfitPace was internally branded ‘eVo’ at The Ritz-Carlton Hotel Co., where ‘eVo’ stands for next ‘evolution’ reporting,” says Scott Duty, Corporate Director, Sales Information Technology at Ritz-Carlton Hotels. “The efficiencies created by eVo were not just an evolution of our reporting, it was a revolution separating the drama from the data. Previously, it would take our team nearly 200 man-hours to aggregate the monthly data and create reports for our portfolio of hotels, Sales Leaders and Owners. ProfitPace reduced that time to a few minutes. In addition, the drill-down capabilities allowing us to see the lowest level of detail are exceptional.”
“ProfitPace is now being installed at three additional management companies representing more than 125 hotels,” says Mike Patton, co-President & Partner at ProfitSword. “Knowing how you are trending from one day to the next is extremely important and ProfitPace allows sales professionals to pinpoint soft dates and focus more of their efforts to fill in the gaps. It also helps to cross-sell properties within a portfolio – one hotel may not have room for a group, but can refer the business to a sister property with an opening. There are countless uses for this very powerful tool.”
ProfitSword has developed four hospitality business intelligence solutions including: ProfitSage, a forecasting, budgeting, and daily operational and reporting solution; ProfitPlan, an online business and marketing plan to accompany the annual budget; ProfitPace, the sales pace and reporting solution; ProfitWizard, an ad-hoc reporting and analysis tool. For more information on ProfitSword and their business intelligence applications for hospitality, stop by booth #1206 at HITEC in Baltimore, Maryland, June 25-28.
About ProfitSword | 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 and improve profitability. ProfitSword is headquartered in Orlando, Florida, and serves more than 35 management companies representing more than 1,000 hotels worldwide. For additional information on the company and its customized products and software solutions, contact Colin Findley at (407) 909-8822 or go to www.profitsword.com.
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