ProfitSword, a developer of hospitality-related business intelligence and data integration software, has announced the implementation of its performance forecasting technology alongside Event Temple's advanced group and event sales management software at Charlestowne Hotels. A hospitality management company offering expertise in hotel operations and revenue optimization, Charlestowne Hotels can now provide each property and stakeholder with the real-time business intelligence they need to measure group-related sales performance and to swiftly adapt to upcoming revenue growth opportunities.
"Hotels must be able to quickly identify any areas where additional profits or operational efficiencies can be obtained, and this is especially true during the current market environment where business stability and eventual recovery can hinge on the ability to acquire and preserve more revenue streams," said Johnathan Capps, Vice President of Revenue at Charlestowne Hotels. "Both ProfitSword and Event Temple solutions work seamlessly together to achieve this goal. Each of our properties along with our organization as a whole are now able to instantly determine what current performance looks like, what future business outlook is expected and what services or resources need to be prioritized in order to achieve greater profitability, market competitiveness and guest satisfaction."
Designed to streamline access to performance data from a single and always accurate source, the ProfitSword and Event Temple integration allows Charlestowne Hotels to automatically combine valuable group and event related analytics within the ProfitSword user interface. This ensures the hassle-free ability to review KPIs and other financial or operational data the moment it is needed and with the ability to review results by department, property, hotel brand or for the company's entire portfolio.
"Managing a hotel business successfully requires the ability to disseminate actionable data across an organization before the opportunity to respond passes, and we are proud to see that our partnership with Event Temple has provided Charlestowne Hotels with the specific tools it needs to make the most out of its group and event sales efforts," said Paul Bennie, Director of Business Development at ProfitSword. "With the integration in place, we look forward to seeing Charlestowne Hotels continue to expand its market growth with the advantage of maximum forecasting and budgeting efficiency along with enhanced fiscal accountability and communication."
Group and event related performance analytics that Charlestowne Hotels can measure include weddings, conferences and business meetings without first requiring hours of compiling and verifying the accuracy of information. The company, at its locations, can further analyze group and event sales revenue on a year-over-year basis to identify any shifts in traditional performance norms. Another benefit of the integration is the ability to monitor the group sales productivity of individual employees. This allows hoteliers to ensure that sales goals continue to be met while identifying employees that may require additional training.
"With the speed and sheer mass of data that a hotel can generate on a daily basis, manual processes such as the use of spreadsheets are not only inefficient but are susceptible to human error which can lead to substantial revenue loss," said Bob Graham, CEO at Event Temple. "We are honored to work alongside ProfitSword in ensuring that Charlestowne Hotels can remain fully up-to-date on the effectiveness of their group sale strategies, and look forward to seeing the company leverage access to such analytics to drive up revenues and ensure ongoing organizational stability and growth."