Real Hospitality Group Adopts Full Suite of ProfitSword Business Intelligence and Data Management Solutions
ProfitSword, a developer of business intelligence and data integration software for the hospitality industry, was selected by Real Hospitality Group in order to obtain a real-time and fully comprehensive overview of its financial performance across the breadth of its organization. Recognized as one of the fastest growing hotel management companies in the U.S. and renowned for its corporate responsibility, including leading industry efforts to end child trafficking and partnering with Habitat for Humanity, Real Hospitality Group opted to implement the full suite of ProfitSword solutions to provide its team members with seamless data management and business intelligence abilities. This in turn empowers each employee with the ability to instantly implement information-driven strategies that lead to greater operational efficiency, cost-effectiveness and company-wide growth.
Celebrating its 10-year anniversary, Real Hospitality Group Leadership acknowledged that its portfolio of 110 properties had grown to where implementing an advanced business intelligence and data management infrastructure was critical in continuing to identify opportunities for further expansion. Key to its decision in partnering with ProfitSword was the company's industry expertise in understanding and providing solutions for the unique challenges faced by hotel management companies overseeing an array of multi-branded, independent and lifestyle properties. This included ProfitSword's ability to seamlessly integrate with a multitude of disparate data-generating systems, providing hoteliers with a user-friendly dashboard that operates as a single source for all performance-related information in real-time.
By implementing the ProfitSage module, Real Hospitality Group has credited ProfitSword with saving countless hours of compiling data in the forecasting and budgeting process. This is achieved via ProfitSage's ability to instantly extract and compile valuable financial and statistical performance data from operational and financial systems. As with ProfitSword's full suite of solutions, ProfitSage further provides the ability to segment data, including by region, brand, sub-market or individual hotel departments. This functionality ensures that each employee can obtain the granular level of detail needed to determine if their respective areas of responsibility are performing to budget or whether they are on the right path to accomplishing specific business objectives.
"Since partnering with ProfitSword, we have experienced significant improvement in forecasting accuracy for top line revenues. This in turn has flowed down to the various departments such as housekeeping or food & beverage, which, has resulted in significant improvements in reducing unnecessary expenses," says Simon Little, Executive Vice President- Sales & Marketing for Real Hospitality Group. "By deciding to implement the full array of ProfitSword platforms, we are able to fully understand every facet within our business, with each team member able to receive customized reports ensuring their ability to swiftly identify opportunities that lead to increased revenue, company growth and guest satisfaction. Another vital benefit of implementing ProfitSword solutions is that general managers now have more time to focus on our guests to ensure that their experience is of the highest level."
By opting to implement ProfitPace, Real Hospitality Group is also able to automate, integrate and visualize vital sales performance data. This provides company leadership with an enhanced forward thinking approach in terms of analyzing transient and group business on the books and comparing current performance to previous months or years. By comparing such statistics, Real Hospitality Group can more readily implement informed strategies that fully take improved or diminished performance into account. With ProfitPlan, the hotel management company can additionally obtain customized, web-based sales and marketing planning abilities that lead to enhanced communication and transparency across the organization. ProfitPace further provides company leadership with the ability to monitor their revenue pace and the performance of salespersons on a monthly or weekly basis, allowing them to identify which employees are doing well while also indicating which individuals require assistance in meeting sales goals. In implementing ProfitWizard, Real Hospitality Group is further able to incorporate business intelligence, decision support, performance management and ad-hoc reporting for even greater customization and granular analysis of data.