M3 Partners with French Duncan and Cycas Hospitality to Expand Internationally
M3, a financial platform and services company for the hospitality industry, announced a new partnership with chartered accountants French Duncan to bring its Accounting Core and Operations Management products to its first hotel group outside of the U.S.
Headquartered in Scotland, French Duncan enjoys a reputation as specialists in the hospitality and leisure sector throughout the UK, with clients ranging from hotels and publics houses to restaurants and visitor attractions.
Hotel management company Cycas Hospitality, a long-standing client of French Duncan’s hotel accounting team, has implemented M3’s Accounting Core, Business Intelligence and Mobile App. As a result, Cycas’s hotels in Newcastle and Amsterdam are currently running those M3 platforms.
Cycas Hospitality is best known for pioneering the branded extended-stay hotel concept in Europe and currently has 18 properties and 2,780 rooms open or under development across key locations throughout the continent. With three new hotels opening this summer, the company is scheduled to grow its portfolio to more than 10,000 rooms over the next five years.
“Given the surge in demand for extended stay options throughout Europe and our ambitious expansion plans, we regularly review the accounting solutions used across our portfolio and will be interested to see how M3’s systems perform,” said John Wagner, partner and cofounder of Cycas Hospitality, and recent recipient of the Serviced Apartments Lifetime Achievement Award.
Accounting Core is M3’s entry point solution and provides robust accounting and financial analysis to more than half of the top management companies in the U.S and the company’s Operations Management solution is a back-office business analytics tool that increases efficiencies and reduces expenses. Unlike other solutions in the European market, M3 offers automated mapping of PMS data to daily reports as well as easily consolidated financials and actionable, real-time insights via mobile device to check in whether on property or out of the country.