ProfitSword Publishes Best Practice Guide on How Hoteliers can Overcome Market Uncertainty and Safeguard Revenue
ProfitSword, a developer of business intelligence and data integration software, published a detailed guide demonstrating how hoteliers can leverage the latest business intelligence strategies and their organization's performance data to safeguard hotel operations and revenue during times of economic hardship. Titled, "Staying One Step Ahead of Economic Uncertainty With an Effective Business Intelligence Strategy," the guide is now available to hoteliers across the industry by visiting the ProfitSword website.
With the hospitality industry facing unprecedented unpredictability as a result of the ongoing health crisis, the ProfitSword guide serves as a valuable go-to resource demonstrating how hoteliers can still create quick, yet fully informed business strategies that take rapidly shifting market conditions and priorities into full account. Essential topics analyzed within the guide include the need to ensure real-time access to performance data from across an organization, such as accounting, labor and sales metrics. By being able to routinely rely on the availability and accuracy of such information, the guide demonstrates how hoteliers are not only able to instantly determine the current needs of their business, but can also better forecast where the market is headed and what initiatives need to be implemented in order to ensure business survival and a full recovery.
"Hospitality professionals are regrettably facing one of the most difficult periods in the history of the industry, but by making this guide available we hope to provide each hotelier with the assurance that they still possess the ability to plan ahead for the ultimate success of their business," said John Crtuchfield, Chief Operating Officer at ProfitSword."Hotels are experiencing extreme shortages of revenue affecting labor and resources which unfortunately increases the likelihood of making hasty and error-prone decisions during an economic downturn. By following the best practices outlined within the guide, company leadership can lessen the effects of an economic downturn, by obtaining vital clarity on what their next steps should be in navigating current operations in a way that protects their assets along with the interests of guests and staff."
To download a copy of the ProfitSword guide analyzing how hoteliers can implement the latest business intelligence best practices to overcome market uncertainty, please click here.