M3 Helps RV Resort Operator Grow Portfolio as Outdoor Vacations are on the Rise
RV and camping vacations are on the rise as American travelers take to the road during the ongoing global pandemic. According to an American Hotel and Lodging Association (AH&LA) study, 58% of domestic travelers plan to opt for staycations or driving vacations through the remainder of 2020. As the number of reservations increase at RV and camping resorts, management teams are adopting the back-end accounting technology of traditional hotels to accommodate for the influx of customers and data.
Mary Jean Campochiaro, controller at RVC Outdoor Destinations (RVC), has seen firsthand the need for a forward-thinking, hospitality-specific accounting provider. With nine resorts located across the U.S., including Yosemite, California, Garden of the Gods, Colorado, Freeport, Florida, and Hot Springs, Arkansas, RVC is a major provider of high-quality outdoor hospitality, offering customers a variety of accommodations like cabins and cottages, yurts and RV sites.
The fast-growing popularity of alternative accommodations across the country led to increased occupancy across RVC’s properties. This rise emphasized the shortcomings of RVC’s previous accounting platform’s cumbersome system, which was not meeting the company’s specific accounting needs, making it difficult to efficiently process accurate financial statements. Campochiaro decided RVC needed a new accounting partner that could match its growth and data increase with a customizable platform made for the hospitality industry.
Having worked with M3 at a previous company, Campochiaro decided to switch to M3’s exclusive, cloud-based solution to help manage RVC’s finances in June 2020. As a powerful financial platform used by more than 6,300 management groups and hotels of all sizes, M3 offered RVC the scalable and tailor-made solutions the company had been searching for.
M3’s entry point ERP solution, Accounting Core, gives Campochiaro access to robust accounting and financial analyses for all RVC’s resorts and outdoor destinations. Accounting Core also provides more than 16 easy-to-use modules that streamline accounting functions, offering hotel owners, management teams and general managers an accurate snapshot of financial performance across multiple properties. This robust, actionable data equips team members at every level with the tools they need to successfully manage the company’s entire portfolio.
“Our previous provider made it difficult for our general managers to access key financial data, but with M3, they can be granted access to view financial progress and compare month-to-month data, helping them better manage their businesses,” Campochiaro said.
Since implementing M3’s Accounting Core, RVC has been able to drive business forward with intelligent insights and sophisticated reporting to continue growing the company’s portfolio.
M3’s scalability allows Campochiaro and her team to keep tabs on the financial health of multiple properties at once and provide the company’s properties with customized reports.
“We expect to significantly increase the size and number of our locations over the next three to five years through organic growth and new development. Because of the recent influx of customers, we needed to adopt new technology that would allow us to manage our finances the same way a hotel does,” Campochiaro said. “M3 is by far the best accounting solution for the lodging industry. Their system is intuitive and easy to use, and we only pay for what we need.”
Now more than ever, the RV and camping industries are relying on leading financial technology to manage the influx of customer data. M3’s Accounting Core is the industry’s most powerful and popular lodging-specific accounting software. Its array of core features helps improve efficiency and visibility to drive growth and financial performance for a variety of indoor and outdoor hospitality portfolios across the country.