Forecasting and budgeting for Hospitality Ventures Management Group (HVMG) was a manual process across a large portfolio of properties spanning various brands. This “busy work” yielded lackluster results - riddled with mistakes, miscommunication, and no streamlined way to track productivity for contractors. Now, with the integration of Actabl’s Hotel Effectiveness & ProfitSword solutions to increase labor efficiency, automate reporting, increase productivity, and assist in reducing contract labor costs, the company cannot see any manual process being superior to automation.
Disparate Data Across a Diverse Portfolio of Hotels
HVMG’s commitment to excellence permeates throughout their distinct properties. Founded in 2001 with just a single hotel, HVMG has blossomed into an industry powerhouse, currently operating 53 properties throughout the U.S. HVMG's leaders boast an average of 20+ years of industry experience across a variety of property types.
With a menagerie of awards and recognition for market share, guest service, and improved performance, it’s no surprise that of the 28 hotels HVMG has acquired/assumed management for and sold, they average 123% NOI improvement.
With increasing demand, HVMG needed a single view at metrics across the quickly growing portfolio. The management team needed a simple, yet effective solution to manage and centralize their data warehouse and especially measure contract labor hours and rates. They found that their traditional data practices were inefficient, labor-intensive, and lagging:
> Manual process: Manual data entry and reporting proved time-consuming and inevitably led to data errors/loss of data.
> De-centralized data: File sharing meant putting spreadsheets of up to 25 megabytes of data onto CDs - leading to lost versions.
> Lack of contract labor tracking: Labor plans were decided on without real-time visibility into contract labor hours, rates, and productivity.
But like many hotels, HVMG was hesitant about converting to a digital, automated process for labor management & business analytics - even though the need was clearly there.
Actabl’s Integration of ProfitSword + Hotel Effectiveness
HVMG sought software to integrate business analytics & labor data plus automate reporting across their portfolio of assorted brands. It was essential that the features include real-time, accurate metrics around contract labor in order to optimize staff based on cost and productivity reporting.
HVMG decided to implement two solutions:
> ProfitSword by Actabl’s powerful business intelligence platform provides comprehensive dashboards, powerful insights, and automated processes to enable data-driven decisions - all while integrating with 235 other hotel software from PMS to accounting to labor.
> Hotel Effectiveness by Actabl - the number one labor management software in the hospitality industry - features contract labor tracking, productivity reports, wage benchmarking, employee engagement, and shift coverage assistance.
Time Saved with Automated, Centralized Visibility to Labor Data & Business Analytics
With the implementation of ProfitSword & Hotel Effectiveness, gone are the days of manually aggregating data and typing into their ERP. The time saved by switching to an accurate, automated solution is now utilized by department heads to make informed, data-driven decisions, scope prospective customers, conduct case studies, and more.
A real-time view of forecast and actual spend allows HVMG to achieve the visibility necessary to make timely labor decisions - saving time, saving money, and increasing productivity.
Improves labor plans
with a 360-degree view
of forecast and actual spend
with automated report creation
across the portfolio
Reduces contract labor costs
with real-time tracking
vs. overtime hours