Hotel management company implements ProfitSage to gain comprehensive real-time analysis of financial performance across organization, maximizing ability to identify revenue-enhancing opportunities while reducing expenses.
LANCASTER, Pa. (March 3, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has partnered with High Hotels to implement its ProfitSage operational and financial reporting platform at all properties that the hotel management company currently oversees. Recently celebrating its 30th anniversary and continuing to experience significant growth with properties now located throughout New York, New Jersey and Pennsylvania, High Hotels leadership recognized a need to revamp its data management and financial analysis abilities in order to bolster further market expansion and operational efficiency. With ProfitSage now available to staff members throughout its organization, High Hotels is able to provide each employee with the tools they need to sidestep complexities in the performance data gathering process and instead focus on implementing informed business strategies that lead to enhanced revenues and reduced costs.
As with many hospitality-based businesses, High Hotels had previously relied on the manual collecting of performance-related data into spreadsheets, yet recognized the substantial limitations that came with such a process. These included the considerable amount of time taken to locate and segment data into appropriate fields as well as the risk of human error that could take place at any stage. By implementing ProfitSage, High Hotels is instead able to benefit from a fully
automated platform that can seamlessly integrate with disparate hotel systems to instantly populate data fields within an easy-to-access user-dashboard. This not only eliminates the need for any human effort and the resulting possibility of error, but through its ability to provide real-time updates, ProfitSage further ensures that High Hotels leadership and staff can always obtain an accurate representation of their current business environment. With such user-friendly access to valuable information such as guest satisfaction scores, labor statistics, expenses and STR data, High Hotels is able to forecast and budget with complete confidence, saving valuable time otherwise spent in verifying data and instead focusing on devising and implementing business strategies that lead to greater guest satisfaction and revenues.
“As our company has continued to grow through the years, we really saw a need for seamless access to real-time data as the ability to look across and analyze our business in a multi-faceted way is proving vital in ensuring that we can continue to find opportunities that lead to greater growth and efficiency,” says David Aungst, Vice President of Operations at High Hotels. “This desire was a driving factor in our decision to partner with ProfitSword, and we are thrilled to start seeing the advantages of moving away from assembling data to having a greater opportunity of actually reviewing the information and applying its insight to the benefit of our company. For example, I am now able to pull up a monthly trend forecast in as little as 30 seconds, something that previously would have taken roughly an hour in compiling and verifying data and without the possibility of drilling down to the granular-level detail that ProfitSage provides.”
One of the key factors in selecting ProfitSword was the ability for High Hotels to delve deeper into what their performance data means, with the ability to customize and segment information such as the differing types of business that frequent their properties. By analyzing local negotiated business, corporate business, group business, or those using discounts for instance, High Hotels is able more fully understand what factors attract each demographic; allowing them to forecast and budget more effectively and enhancing the opportunity to drive revenue even further.
“While data management and business intelligence has long been considered a time-consuming and complex process that nonetheless provides vital insight into enhancing business operations, we are honored to have been provided with an opportunity by High Hotels to demonstrate that seamless and instant access to valuable performance data is not an unachievable goal,” says Paul Bennie, Director of Business Development at ProfitSword. “We are also extremely pleased to see that High Hotels is already beginning to experience the time-saving results of ProfitSage along with an ability to swiftly implement informed decisions that enhance overall business success and efficiency. We look forward to continuing to work with them in order to fully implement and leverage all of the business intelligence advantages that our industry-leading platforms can provide.”