High Hotels has partnered with ProfitSword 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 employees 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 previously had 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 the access to 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 multifaceted way is proving vital in ensuring that we can continue to find opportunities that lead to greater growth and efficiency," High Hotels VP of Operations David Aungst said in a statement. "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 its 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 it to forecast and budget more effectively and enhancing the opportunity to drive revenue even further.