Hotel Business Intelligence Case Study: Growing Together with M3
One of the most immediate benefits of moving to a cloud-based accounting platform is the freedom achieved from not being stuck with expensive servers and rapidly outdated technology. Hosted software solutions allow hoteliers to focus on what they enjoy and do best—serving hotel guests and managing associates.
HP Hotels began their partnership with M3 after a recommendation from an industry peer. The company’s founders knew that they wanted to focus their business on managing assets and generating returns for their owners, instead of spending time on the painstaking process of building, updating and maintaining an expensive computer infrastructure to house their accounting and business intelligence platforms. M3 was the perfect fit in a relationship that has spanned over 15 years and encompassed HP’s growth from three to 33 hotels.
“We started with M3 back in 2002 through word of mouth recommendations from industry peers,” recalled HP’s Chief Development Officer Kerry Ranson. “It didn’t take long for us to be impressed with them. They were able to get us up and running on their system very quickly. We also knew we wanted to bring new assets quickly and they were able to make that happen. It would have definitely been cumbersome for us to do that without M3.”
Adopting a streamlined staffing model, HP manages the bulk of their accounting above property, eliminating the need for full-service accounting staff at the hotel level. This model has encouraged the entire HP leadership team to be involved with understanding and using M3’s suite of products, and their passion and enthusiasm for the power of tools like Accounting Core and Insight helped to grow and challenge both companies over the years.
“We kept playing with these tools, embedding ourselves in going to different training sessions and especially the Partners’ Meetings,” Ranson explained. “It’s one of the things I’ve appreciated most about our relationship with M3. We’ve had the ability to go to their leaders and ask, ‘can we make the tool do this?’ and they’d be interested and willing to listen and work together with us to accomplish our goals, and ultimately we would succeed.
It’s one of the things I’ve appreciated most about our relationship with M3...M3 listens and works together with us to accomplish our goals and ultimately we succeed. ”
CEO of HP Hotels
Through continuous learning and immersion into M3’s suite of products, HP Hotels has met the challenge of staying ahead in an industry where technology is continuously changing. Growing from three hotels in 2002 to over thirty-five hotels today, the HP team is always looking for ways to build intelligence and increase efficiencies. They utilize many of the best Insight features when adapting to new challenges. M3’s Insight has been incorporated into HP Hotels’ budgeting cycle to provide leadership with the intelligence needed to analyze how they are measuring up to the competition, because, according to Ranson, “What got us here won’t get us there.”