New Castle Hotels adopts ProfitSword’s suite of data products

Properties in New Castle Hotels & Resorts' portfolio, such as the Westin Prince in Toronto, previously relied on a time-consuming spreadsheet process, which required data to be entered manually. Photo credit: ProfitSword

Since New Castle Hotels & Resorts adopted ProfitSword’s full suite of data-management solutions, the company has maximized operational decision-making efficiency. Having partnered with ProfitSword since its founding and originally implementing ProfitSage as a standalone product, the hotel-management company now has maximum efficiency in all data-management processes as a result of the implementation of additional ProfitSword products, including ProfitPace, ProfitPlan and ProfitWizard.

New Castle Hotels & Resorts had previously relied on a time-consuming spreadsheet process, which required data to be entered manually, often leaving room for human error. Since implementing the ProfitSword suite, company managers have noted an enhanced ability to work quickly and efficiently, while benefitting from information provided in real time that ensures any decisions made are based on accurate and actionable data.

“As an organization responsible for overseeing the performance of multiple properties and brands, the ability to quickly access and share data is critical to ensuring business success and maintaining a high level of trust with property owners,” said Gerry Chase, strategic advisor and former president and COO at New Castle Hotels & Resorts in a statement. “Since the beginning of our relationship with ProfitSword, we have been able to implement an effective data management strategy that ensures all information is always readily available and comprehensible, and that all relevant parties have access to the exact same information, further enhancing efficiency while serving as proof to owners that we have their best interests in mind.”

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One of the four solutions implemented, ProfitPace allows managers to see trends in sales team productivity by analyzing prior year activity and comparing sales pace to forecast or budget accordingly. ProfitPace also works to ensure that sales goals are on track to be met consistently. With ProfitPlan, New Castle Hotels & Resorts staff gains the ability to monitor the success of annual plans or monthly and weekly progress with access to data that includes market overview, demand outlook and analysis of key competitors. Standardized web-based reports and customizable templates allow ProfitPlan to provide business owners and partners with the visibility needed to connect them to their business, improving not only efficiency but also communication and transparency.

By implementing ProfitSage, New Castle Hotels & Resorts gains the ability to automate accounting functions such as income journals and accounts payable, along with budgeting and forecasting functionality using the entirety of a financial statement. With the ability to integrate data from disparate third-party systems into one centralized data warehouse, ProfitSage provides a user-friendly dashboard where staff can instantly access reports such as daily revenue, daily labor analysis, cash handling and profit and loss statements. With ProfitWizard, New Castle Hotels & Resorts can further combine business intelligence, decision support, performance management and ad-hoc reporting for an even greater in-depth analysis of data.

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