Cloud-based financial and data management platform M3 has partnered with analytics firm HotStats. M3's hotel accounting platform and customer base will help improve the accuracy and scope of HotStats’ data reporting capabilities. The partnership allows M3 customers complimentary access to HotStats’ benchmarking data, helping them measure their financial performances against the competing hotel landscape.
M3 partnered with HotStats to offer comparable business insights that go beyond top-line numbers into the full profit and loss and consider revenue and expenses incurred across all departments.
“As HotStats ramps up its business and further expands globally, we are excited about our partnership with M3. Allowing hoteliers to monitor their operational positions against the greater competitive landscape is more important than ever—especially during these extraordinary times,” said Pablo Alonso, CEO of HotStats. “This partnership is another significant step toward operational optimization and, ultimately, better profitability for hotels. In addition, HotStats’ exposure to M3’s customer base of more than 6,400 properties provides us with more comprehensive data sets to better serve the hotel industry as a whole.”
M3 customers now can utilize HotStats’ monthly profit and loss analysis reports to track financial performance across more than 500 performance indicators. Using data sourced from millions of guestrooms across more than 120 global hotel brands, HotStats' benchmarking services identify areas of outperformance and underperformance, helping M3 customers implement strategies to boost their revenue, contain cost and improve the bottom line.
With dedicated application programming services, M3 will be able to make customer financial data available to HotStats. Once customers grant permission to share data, they will receive data comparisons based on asset classes across regional and nationwide trends within two weeks. HotStats also delivers custom competitive property comparison sets for a nominal fee.
