First Hospitality Group has announced that it has installed two of ProfitSword’s business intelligence applications throughout its portfolio of hotels in order to improve operating efficiencies and reporting capabilities. FHG selected the ProfitSage Financial Suite and the ProfitPlan Business & Marketing Plan for their hotels.
ProfitSage is a web-based financial business intelligence application providing users with data in real-time. With a high level of integration throughout an organization, countless operational efficiencies are created, including the elimination of manually keying data from one system into another. ProfitSage provides operational modules for daily reporting, comprehensive top-to-bottom forecasting and budgeting, and accounts payable processing. The ProfitPlan application is an on-line business planning tool that aids in critiquing your market conditions and laying out your hotel’s goals and objectives throughout the year. It is completely integrated with the ProfitSage budget module so that you can comment on your plan’s progress and results throughout the year.
“ProfitSage aids in the management of our portfolio at all levels,” commented Robert Habeeb, President and COO of First Hospitality Group, Inc. “From our focused service to full service properties, ProfitSage provides us the data that allows us to more accurately forecast business levels. Our management teams can then proactively make adjustments to labor levels and expenses in order to achieve the maximum performance of each asset. This is especially true of the distressed assets we manage.”
ProfitSage also provides hundreds of operational reports for both single hotel or restaurant assets and roll-ups of the portfolio. Corporate management can view the performance of an entire portfolio or sections of the portfolio, but has drill down capabilities to see individual hotels and even individual expense lines. “Having ‘eyes-on’ real time data is the key,” says Habeeb. “What used to take hours or days to analyze can now be down with a click or two of a computer mouse!”
“First Hospitality certainly had a vision of what they wanted to achieve with their reporting and operational intelligence,” says Tili Findley, President & Co-Owner of ProfitSword, LLC. “It is a pleasure to partner with a company that understands the power of our applications and FHG takes full advantage of the capabilities and features of the software.” Findley has more than 25 years of experience as a hotel operator and developed ProfitSword’s application from her knowledge of the industry. “In days of old, it often took at least half a day just to find out how your hotels performed the night before. Now operators have their data available to them either by computer or mobile device before they leave their homes or get to the office!”
Daily, weekly, monthly reporting can be done with the click of a mouse, and creating accurate forecasts and budgets are made simple by having historical trend information at your fingertips. The BI applications consist of modules that integrate with the PMS, back office accounting, point of sale, sales-automation and payroll systems in order to warehouse critical operational data. The information is then used within the different modules to produce income journals, detailed forecasts, line-by-line budgets and hundreds of customized reports. ProfitSage also imports Smith Travel data to provide comprehensive comparisons to the competitive set and provide roll-up reports for the entire portfolio.
“ProfitSword has provided FHG with a platform that will help us achieve our growth plans over the next several years,” said Habeeb. “The evolution of ProfitSword’s applications is a clear indication that they are staying ahead of the trends in the industry and we look to partner with them for the foreseeable future.”
About First Hospitality Group
First Hospitality Group is a national, experienced and established hospitality management and development company serving the investment and real estate industries. Since 1985, we have been an award-winning pioneer in the hospitality industry. We have successfully developed, marketed and managed a host of over 16 brands and 30 properties throughout the Midwest. We know the industry and we know the players. Through our deep-rooted relationships with key leaders in the hotel, restaurant and finance communities, we collaborate on each project to maximize and achieve the profit potential for each site.
About ProfitSword, LLC
Founded in 2001, ProfitSword is an innovator in business intelligence software for the hospitality industry. ProfitSword solutions provide seamless integration of data and real-time information to enhance hotel managers’ decision-making process and improve profitability. ProfitSword is headquartered in Orlando, Florida, and serves more than 35 management companies representing more than 1,200 hotels worldwide. For additional information on the company and its customized products and software solutions, contact Colin Findley at (407) 909-8822 or go to www.profitsword.com.