Heritage Hotels & Resorts partners with ProfitSword

ProfitSage can retrieve financial data from all of Heritage Hotels & Resorts locations, such as the Hotel Chaco in Albuquerque, N.M., and provide access to the information in one user-friendly dashboard. Photo credit: ProfitSword

Heritage Hotels & Resorts, a hotel-management company based in Albuquerque, N.M., will 11 properties in its portfolio, has installed the ProfitSage operational and financial reporting product from ProfitSword. Heritage Hotels & Resorts has experienced dramatic business growth over the past five years. While continuing to acquire additional locations, company leadership soon identified the need to implement a business intelligence and forecast strategy that could keep pace with the increasing complexities.

While completing the process of general ledger code consolidation on its newly acquired properties, Heritage Hotels & Resorts encountered common industry difficulties in attempting to integrate separate chart of accounts data, including the updating and syncing of information in real time. Previously using a tedious, manual process to input the daily income journal which dramatically hinders the forecasting process, the IJ is now automated within the ProfitSage solution and completed in seconds. Forecasts can then be created or updated immediately using real-time data. 

By seamlessly integrating with a multitude of disparate systems, ProfitSage can instantly retrieve financial data from all of a company's locations and provide access to the information in one user-friendly dashboard. Using a single database, ProfitSage further ensures that any updates or notes made by an individual staff member is instantly shared with other employees in real time, guaranteeing data uniformity and accuracy at all times.
“When first testing ProfitSage, the quality of detailed reporting along with its effectiveness in comparing actual performance to multiple forecasts in one intuitive dashboard, was something that simply wowed us because we had never seen anything like it before,” Heritage Hotels & Resorts CFO Jason Couillard said in a statement.
ProfitSword is able to work with its clients to customize performance reports that deliver the precise information required. Such reports can be prescheduled and automatically sent to appropriate personnel whenever needed, further reducing the time and labor required to complete budgeting and forecasting tasks.

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.