Drake Hotel Properties Partners with XTM to Offer Staff Instant Access to Earned Wages

XTM, Inc. is a Miami- and Toronto-based Fintech company in the neo-banking space that helps businesses and service workers in the hospitality and personal care space disseminate and access earned wages and gratuities. XTM is pleased to announce the addition of the Drake Hotel to its rapidly growing Today™ member instant payout solution.

Drake Team
The XTM team welcomes Drake Hotel, Drake Devonshire and Motor Inn and Drake One Fifty to its Today Program for digital employee payouts. (Photo: Business Wire)

XTM's Today™ Solution, comprised of a free mobile app and a Visa or Mastercard debit card with free banking features, is used by thousands of restaurants, salons and staff across Canada and the United States. XTM is a global card issuer and real-time payment specialist. Its technology is used by restaurants, salons and service staff at no charge to automate and expedite earned wage and gratuity access, increasing time and attendance and eliminating cash from ecosystems. 

The Drake Hotel opened its doors in 2004, now boasting a successful track record of close to two decades of hospitality operations. A proven contender in travel, leisure and hospitality operations Drake Properties manifest the know-how to thrive within the sector. With the recent economic challenges hospitality has been facing of late, efficient operations and incentive for staff to return to work are essential for the successful come-backs, even for the contenders. The restaurant industry still struggles to re-fill the 650,000 jobs lost during the pandemic, 75% of hospitality staff operators identify recruiting and retaining employees as their biggest challenge.

“The Drake is a place for people to come, meet, eat, drink, sleep, shop and generally feel the buzz of community. A motivated and fulfilled workforce leading the guest experience, helps us to meet our goal,” said Matthew Brooks, Director of Operations, Drake Hotel Properties. “We view XTM’s digital solution as a way for to help us to improve our operational efficiencies while freeing us to focus on the art of hospitality.”

“Employee payouts are critical in the hospitality ecosystem,” said Marilyn Schaffer, CEO, XTM. “Paying out wages and gratuities faster results in increased time, attendance and employee satisfaction. XTM will continue adding solutions to our ecosystem with the overall goal of supporting operational excellence for hospitality, personal care and the services sector at large.”

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