Hostmark Improves Valye To Assets Using ProfitSword Business Intelligence

  • ProfitSword
  • 05.25.10
With an increasing focus on growth, Hostmark Hospitality Group is able to focus in on key operational idiosyncrasies by using a web-based business intelligence application by ProfitSword.

Internally renamed “ProfitMark,” Hostmark uses the product to assist with their acquisition initiatives as well as improving the performance of their entire portfolio.

“As we continued to grow and operate a very diverse portfolio of branded, independent hotels and resorts, we knew we needed the right technology platform to not only assist in the operation of the hotels, but could also help us improve our overall operational efficiencies,” says William D. Gingrich, Chief Financial Officer for Hostmark Hospitality Group.  “The web-based ProfitMark makes it easier for us to evaluate the performance of an entire portfolio, a single hotel, or even a single department in real-time.  This expedites our communication and decision processes and we can affect changes rapidly to improve performance and profitability.”

ProfitSword has created effective tools to mine data from hotel PMS, POS, back office accounting, sales automation and payroll/timekeeping systems.  ProfitSage can even import data from Smith Travel reports, i.e. weekly and monthly e-STAR.  The application provides the users several modules to manipulate and report on the data.  In addition, corporate users have access to a full array of financial reports for individual hotels, roll-up reports for the entire portfolio, or reports for only portions of the portfolio.  At the property level, ProfitSage provides users modules for automatically creating and balancing the Daily Income Journal, creating accurate top-to-bottom Forecasts and Budgets, and effectively managing the Accounts Payable process.  There is a two-way interface between ProfitSage and the back office accounting system, and ProfitSage can push the appropriate data to the back office (income journals, budgets, accounts payable, etc) – matching up every GL code.

   “ProfitSage was designed by hospitality professionals specifically for hospitality and not adapted from an unrelated industry – this was an important selection criterion,” said Gingrich.  “We knew the team at ProfitSword spoke ‘hotelese’ and we knew they would understand our needs, especially as it relates operations and reporting.  In addition, they have customized portions of the program to suit our needs as a company.” 
“ProfitSage is key in helping our clients communicate with partners and ownership as well,” says Tili Findley, President and Co-Founder of ProfitSword.  “Especially when there is a transition of a new asset into a company’s management portfolio, ProfitSage can begin delivering performance reports immediately! The success of the asset becomes more of a collaborative effort with partners, owners, and on-site property management.”
About ProfitSword

Founded in 2001, ProfitSword is an innovator in business intelligence software for the hospitality industry.  ProfitSage provides seamless integration of data and real-time information to enhance hotel managers’ decision-making process and improve profitability.  ProfitSword is headquartered in Orlando, Florida, and serves more than 20 management companies representing more than 500 hotels. 

About Hostmark Hospitality Group

Hostmark Hospitality Group is a leading hospitality management firm operating upscale full service
hotels, resorts, focused service hotels and restaurants worldwide. Headquartered in Schaumburg,
Illinois, with regional offices in Denver, Colorado, and Cairo, Egypt, Hostmark Hospitality Group is an
award-winning operator of Marriott, Hilton, Intercontinental Hotel Group, Starwood and Wyndham
Hotels. Under consistent leadership spanning more than four decades, Hostmark Hospitality Group
operates independent boutique hotels as well as other luxury resorts, and concept restaurants.
Hostmark Hospitality Group has a proven longstanding reputation for delivering superior results through
forward focused ingenuity and exceptional asset management.

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