DKN Hotels partners with ProfitSword

DKN Hotels, such as the Homewood Suites by Hilton Irvine (Calif.) John Wayne Airport, can instantly access data as a result of ProfitSword’s operational and financial-reporting product. Photo credit: ProfitSword

DKN Hotels, a California-based hotel management company, has implemented ProfitSword’s ProfitSage operational and financial-reporting product. Providing hotel management, development and building services, DKN Hotels currently oversees more than 10 properties and now with the integration of ProfitSage into its data-management and accounting process, can ensure the automated and accurate sharing of performance data from all locations in real time.

“When previously relying on a manual process to extract required analytical information from each property, our night auditors often spent countless hours having to compile and then reverify the accuracy of data before it could be entered into our proprietary accounting software,” DKN's VP of Operations Ana Almada said in a statement. “We had first tried another solution to see if it could serve as an efficient and automated interface between the different [property-management system] solutions and our accounting program, but found that an array of data inaccuracies essentially made the integration useless. With ProfitSage now in place, that can be fully trusted to always provide up-to-date and accurate information throughout our organization. This new technology will allow us to realize higher [net operating incomes] for owners as we bring additional managed hotels into the DKN portfolio.”
DKN Hotels can now instantly access data, including details on market segments from reservations and sales, daily revenue and key revenue indicators, daily labor, transactions for expenses and even revenue from credit card purchases. With ProfitSage able to provide preset levels of access to specific data, DKN Hotels personnel can also be sure of their ability to quickly locate information that is relevant to their exact needs.
Providing customized metrics and instant access to historical data, ProfitSage offers hoteliers the ability to forecast based on real-time changes to business patterns. With hotel profits subject to an array of external factors such as time of year, weather and upcoming events, ProfitSage further allows hoteliers to create multiple budget and forecast versions in order to account for 'what-if' scenarios.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.