53 Properties
7 States
5724 Rooms
Accounting Services
Accounting Core™
Insight™
Labor Management™
Established in 1988, Raines is a family-run hotel portfolio based in Florence, South Carolina. With nearly 38 years of experience, the team aims to connect people with performance. Today, the brand manages 53 properties across seven states in the Southeast, including Texas, Louisiana, Georgia, and the Carolinas.
In 2023, Raines acquired & merged with HP Hotels, rapidly expanding its portfolio. Eventually, the team turned to M3 for accounting services to help manage and standardize financial operations across the entire portfolio.
Initial consultation
Accounting Services + Accounting Core™
Added Insight™
Expanded to Labor Management™
Reeco integration for accounts payable
M3 continues to support Raines across its portfolio
Why Raines Partnered With M3
Financials that couldn’t keep pace with ambitions
Following a successful merger and acquisition with HP Hotels, Raines had to run two separate accounting environments. This made it tricky for leadership to produce timely financials as their portfolio expanded. Before coming to M3 for accounting services and software, Raines struggled with several challenges:
In some cases, Raines faced a 60-90 day window to receive financial statements.
Before M3, Raines’ accounting software couldn’t deliver enterprise-level capabilities at certain properties.
The Raines team was often stuck spending hours behind spreadsheets and pulling GMs from higher-value work.
Driven to operate more efficiently across the Southeast, Raines needed a new accounting solution.
Before switching to M3, it was taking some properties 60-90 days to get financial statements out. That didn’t support our growth plans.
Joseph Powers, VP of Accounting
An optimized day-to-day accounting process
Initially starting with services and Accounting Core™, Raines partnered with M3 and efficiently onboarded its portfolio.
By augmenting some duties and inserting new ones, M3 supports Raines’ internal accounting goals.
On top of accounting services, Raines leveraged M3’s dozens of software integrations to further simplify the day-to-day.
Raines can now study the financial performance of its entire portfolio, while retaining the ability to do property-by-property due diligence, drill-in, and drill-down.
Powered by M3’s services and software, Raines has no accounting or financial reporting limitations as they scale their hotel portfolio.
The hidden benefit of M3’s accounting services is that we’re able to take responsibilities off our GMs’ plates and let them step out from behind the computer.
Jason LaBarge, Executive VP of Operations
Following Raines’ 2023 merger and acquisition with HP Hotels, the team knew it needed to revisit its accounting platform. The software they were using simply couldn’t support its financial initiatives. Two key factors ultimately led Raines to M3:
At the time, the HP team had used M3 for over 20 years. The ongoing relationship was crucial.
M3 began offering Professional Accounting Services, hospitality-specialized accounting services delivered by people who live inside the M3 platform every day.
“With our model and the anticipated rapid growth, we felt M3 could help us expand more quickly across the Southeast market. Their team provides great service and responsiveness that not only supports our scaling needs, but also allows us to do so efficiently.”
Kerry Ranson
President of Operations
From onboarding through day-to-day operations, our accounting experts have supported Raines with internal accounting initiatives. This has included reporting, data analytics, and growth strategy. Our partnership allows Raines to focus on asset quality and operational excellence, without worrying about back-office technology and services. M3 offers us a best-of-suite solution through:
Accounting Core™
Insight™
Labor Management™
Raines now boasts a seamless accounting process. Improvements since partnering with M3 include:
Each GM across all 53 properties now saves 4-5 hours per month. This gives the team more time to focus on growth and guest satisfaction.
Raines now delivers P&L statements 3 days faster, giving the team faster access to financial data.
Raines has scaled its portfolio to 53 properties from 40, with plans for future expansion as the partnership develops.
Manual bookkeeping is eliminated, making it easier for the Raines team to crunch the numbers and analyze data in much more efficient ways, driving more profit to their investors.
Complete financial statements now take 12.6 days on average, compared to 60-90 at certain properties before the M3 partnership.
As an engaged, long-term partner, Raines will continue to work with our team to expand its accounting capabilities, leverage industry-specific integrations, and gain the financial insights it needs to continue its growth.
Since partnering with M3, we’ve been able to grow our portfolio without missing a beat. Their team is so flexible.
Kerry Ranson, President of Operations
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For over 25 years, M3’s award-winning hotel accounting software has helped hoteliers reduce manual labor, automate financial reporting, and simplify their operations. Our comprehensive system combines hotel-specific software with business-critical integrations that deliver the financial visibility required to run a more efficient and profitable business.
