HotStats, Choice Hotels Announce Partnership
HotStats, a provider of monthly profitability data benchmarking for the hotel industry, said it entered into a strategic relationship with Choice Hotels International wherein Choice franchisees will have access to HotStats’ unique profitability tools through CHOPS: Choice Hotels Owner Profitability System.
By working with HotStats, owners/operators of Choice’s more than 5,800 U.S. hotels will have access to the highly detailed benchmarking system and data platform, which maps raw accounts data to the Uniform System of Accounts for the Lodging Industry and allows hotel owners to measure their hotel(s) performance on approximately 550 line items versus other like hotels. CHOPS is expected to help Choice franchisees identify performance gaps and system-wide areas of opportunity within labor, benefits, maintenance, breakfast, room expenses, utilities, IT expenses, and more, to better manage business and improve profitability—which is critical in an age of increasing costs and downward pressures on revenues.
“For 80 years, Choice has been committed to empowering our hotel owners to be in business for themselves—but not by themselves,” said John Bonds, senior vice president, enterprise operations and technology, Choice Hotels International. “CHOPS, which draws from the database of industry-leader HotStats, is the latest, best-in-class resource we’re providing our owners to help them run successful hotels and maximize their profitability.”