Palms Casino Resort Selects Condo Accounting Solution by Agilysys

  • Agilysys (PMS and other solutions)
  • 02.10.09
Agilysys, Inc., a leading provider of innovative IT solutions, including specifically designed hospitality software solutions, announced that Palms Casino Resort in Las Vegas has selected the Visual One Condo Accounting System by Agilysys to manage its condominium rentals at Palms Place Hotel and Spa.

The Visual One Condo Accounting System integrates with the Lodging Management System® (LMS) by Agilysys to provide comprehensive condominium management for LMS properties that offer condo ownership and rentals. LMS is recognized as one of the hospitality industry’s leading property management systems and is used by some of the world’s largest hotels, casinos and resorts.

The Visual One Condo Accounting System is a made-for-hospitality solution designed to calculate the revenues and expenses between condominium owners and the management company. Owner information is readily available to LMS users and defaults from the Visual One Condo Accounting System when staff makes a reservation for a condominium owner. The module supports multiple condo ownership as well as multiple rental programs.

“We selected the Visual One Condo Accounting System because of its integration with other Agilysys products we use, including systems for property management and room inventory,” said Chris Jarvis, director of information technology at Palms Casino Resort, which uses the solution to manage more than 300 condominium rentals at Palms Place Hotel and Spa. “We were impressed with many features of the solution, but especially appreciate the fair rental rotation feature and personalized statements for owners. The system certainly takes the hassle out of administering owner-rental programs.”

Other features and functionality of the Visual One Condo Accounting System include:

  • Shared configuration between LMS and the Visual One Condo Accounting System
  • Rotation of condominium rentals based on room nights and/or revenue
  • Tracking of condominium comps
  • Automatic deduction of condominium maintenance fees, association fees and other expenses
  • Calculation of revenue splits between condo owners and the hotel
  • Ability to maintain a reserve account
  • Numerous settings for sales tax, income tax and 1042 and 1099 reporting
  • Generation of a variety of reports summarizing rental activity, income and expenses, distribution amounts, taxes and more

“The integration of the Visual One Condo Accounting System with the Lodging Management System enables LMS customers who offer condominium ownership and rental to manage their owner-rental programs more effectively,” said Tina Stehle, senior vice president and general manager of Agilysys Hospitality Solutions Group. “The combination of functionality and reporting significantly reduces the time required for accounting staff to calculate and report revenues and expenses to condo owners. The sharing of data across applications also eliminates human error and streamlines the entire reservation process.”




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