Finance Supplier News - Hospitality Net

May 17, 2022

RobertDouglas Advises Wexford Lodging Advisors and Trinity Private Equity Group on the Refinancing for the DoubleTree Suites Nashville Airport in Nashville, Tennessee

RobertDouglas advised a joint venture between Wexford Lodging Advisors and Trinity Private Equity Group in successfully refinancing its existing loan for the 138-key, all-suites DoubleTree Suites Nashville Airport. The new, non-recourse senior mortgage has a five-year term. The floating-rate financing was provided by a leading life insurance company’s real estate credit platform.

RobertDouglas

Nashville, Tennessee, United States

Supplier News

April 21, 2022

M3 Minutes - Netchex Partnership with M3

Top hospitality executives have touted the following benefits of the Netchex + M3 Partnership.

Supplier News

April 8, 2022

BirchStreet Systems Appoints Bill Smith Chief Financial Officer

BirchStreet Systems, the market leader in P2P software for the hospitality industry, announces the appointment of Bill Smith as Chief Financial Officer.

BirchStreet Systems

Supplier News

March 31, 2022

M3 and Trintech Announce Strategic Partnership to Help the Hospitality Industry Streamline and Automate the Financial Close Process

GWINNETT, GA - M3, the hospitality sector’s #1 cloud-based accounting, financial, and data management platform in North America, and Trintech, an industry-leading global provider of Record to Report software solutions for the Office of Finance jointly announce a strategic partnership. This exciting new partnership was launched to help organizations in the hospitality industry streamline the financial close process by automating key processes and ensuring better internal controls. As a result of this partnership, M3 will offer Trintech’s Adra Suite as part of its financial solution portfolio for Business Process Outsourcing (BPO).

Supplier News

March 30, 2022

M3 Minutes - M3 & Hotstats

M3 customers can utilize HotStats’ comprehensive monthly profit and loss analysis reports to track financial performance across more than 500 key performance indicators (KPIs). Using data sourced from millions of guest rooms across more than 120 global hotel brands, HotStats' benchmarking services identify areas of outperformance and underperformance, helping M3 customers implement strategies to boost their revenue, contain cost, and improve the bottom line.

Supplier News

February 23, 2022

What’s the ‘Best’ Accounting Platform on the Market? Award-Winning Luxury Boutique Hotel ‘The Ivy’ Reveals its Pick

Hotels don’t need to be big to benefit from the best technology. Such is the case for The Ivy Hotel, a world-class historic mansion in Baltimore. Ranked No. 6 in the U.S. by TripAdvisor among its “Top 25 Luxury Hotels” and named a Travel + Leisure “Best Hotel on the Planet,” this boutique wedding and meetings destination boasts just 17 guestrooms, along with a small luxury spa, and an acclaimed culinary concept, Magdalena, A Maryland Bistro, that has earned Wine Spectator’s Award of Excellence and the OpenTable Diner’s Choice award. Behind all the accolades at the heart of the hotel sits Aptech, the industry standard for hospitality financial management.

Aptech

Supplier News

February 16, 2022

Roomdex Receives Usd 10m Strategic Investment From Webjet Limited

ROOMDEX, a leader in automated hotel upselling solutions, announced today that it has received a strategic investment from Webjet Limited, a global digital travel business based in Melbourne, Australia.

ROOMDEX, Inc.

Ad AI Hospitality

Ernest - Lighthouse's AI for hoteliers

"Just tell me why my weekend pickup dropped." With Ernest, now you can ask your commercial data anything, and act on the answer.

Lighthouse

Ad Tambourine One

All you need is one.

Some call it a website with a booking engine built in. Some call it a booking engine with a website built in. We call it One.

Tambourine

Supplier News

February 8, 2022

OTH Hotels Resorts Makes its Accounting Operation Paperless with PVNG from Aptech

With revenue volumes among its portfolio of independent, branded and soft-brand hotels and resorts on the rise, third-party management company OTH Hotels Resorts needed a way to streamline its financial processes without incurring costly support fees. Unable to self-administer changes directly into its existing accounting system, the young hotel company — founded in January 2020 — was paying exorbitant administrative costs just to modify a single employee password or add/remove system access as staff came and went. Corporate Director of Finance David Wheeler knew it was time for a change. The 33-year hospitality veteran said he always had tremendous success with Aptech, the industry standard for hospitality financial management. Upon learning of PVNG, Aptech’s advanced enterprise accounting solution built on a Software as a Service (SaaS) model, OTH immediately made the switch, and Wheeler got his wish to operate as a paperless accounting operation.

Aptech

Supplier News

January 28, 2022

BirchStreet Systems Announces Investment from Parthenon Capital

BirchStreet Systems (“BirchStreet” or the “Company”), a leading provider of procure-to-pay software to the hospitality sector, today announced an investment from Parthenon Capital (“Parthenon”), a leading growth-oriented private equity firm with deep technology and payments investing experience. Parthenon’s investment, in conjunction with existing investor Serent Capital, will further accelerate BirchStreet’s growth as the Company continues to deliver innovative solutions to its customers within the procure-to-pay software suite. Terms of the transaction were not disclosed.

BirchStreet Systems

Supplier News

January 19, 2022

myDigitalOffice Receives Strategic Investment From Cove Hill Partners

myDigitalOffice, a leading provider of software to hotel brands, operators, and owners, announced today that it has received a strategic investment from Cove Hill Partners (“Cove Hill”) to support the company in its next phase of growth.

Otelier

Supplier News

January 5, 2022

Spa Space Announces $3 Million in Seed Round Funding

Spa Space announced recently the closure of a $3 million seed round of funding. The three-sided vertical marketplace for the spa and salon industries solves the therapist shortage with a wide range of on-demand staffing solutions. The debt and equity financing were organized by veteran technology investor Christopher Craig, who will be joining Spa Space’s Board of Directors. Funds will be used to increase brand awar eness, drive Cloud revenue, accelerate platform development, optimize customer success, and execute contracts in the pipeline.

Spa Space App

Supplier News

December 7, 2021

RobertDouglas Advises Waterton on the $30-Million Financing for the Acquisition of the Sierra Nevada Resort & Spa in Mammoth Lakes, California

RobertDouglas announced today that it advised Waterton in securing a $30-million, non-recourse senior mortgage for the acquisition and renovation of the Sierra Nevada Resort and Spa in Mammoth Lakes, California. The floating-rate financing was provided by a leading alternative credit manager focused on high-quality, floating-rate debt.

RobertDouglas

Mammoth Lakes, California, United States

Supplier News

December 7, 2021

Mews Announces Ambitious Hiring Targets to Accelerate Product Innovation for Enterprise Hospitality Brands

Mews, a leader in property management systems, today announces ambitious growth plans for product innovation, dedicated to enabling the largest hospitality enterprises in the world to create remarkable guest experiences. The company is committing to a global hiring plan that will see the business increase headcount by over 90% in the coming year across all functions, expanding offices in Prague, London and Amsterdam and opening new offices in the United States and across Europe. The company is also announcing that Salesforce Ventures, the global investment arm of Salesforce, has made a strategic investment in Mews.

Mews

Supplier News

October 6, 2021

arena4finance partners with US experts, Ascend, to offer HFTP certificates

Arena4finance is proud to introduce the arrival of a new online course for the hospitality industry: ‘A deep dive into the Uniform System of Accounts for the Lodging Industry (USALI)’.

arena4finance

Ad Tambourine One

All you need is one.

Some call it a website with a booking engine built in. Some call it a booking engine with a website built in. We call it One.

Tambourine

Supplier News

September 7, 2021

Atomize raises 3.4 Million Euros in a pre-IPO funding round to revolutionize pricing in the hospitality industry

Atomize, the fast-growing revolutionary Revenue Management Software (RMS) provider is reshaping the hotel industry by using sophisticated AI-technology to improve operational efficiencies for hotels and other accommodation providers in the hospitality industry.

Atomize AB

Supplier News

August 6, 2021

Spirides Provides $4.1 Million Loan to Refinance Debt of Best Western in San Angelo, Texas

Spirides Hospitality Finance Company has successfully provided and the borrower has officially closed a $4.1 million loan to refinance the existing mortgage debt of the Best Western SureStay in San Angelo, Texas.

Spirides Hotel Finance Company

Texas, United States

Supplier News

August 5, 2021

Overwhelming sense of optimism from hospitality investors with 96% expecting improving economic conditions, with hotels leading the recovery

Hospitality Insights, the industry’s trusted investment and development news platform from Questex, has released the Q2 2021 results of the quarterly Investor Sentiment Assessment in collaboration with ABP Invest. Hospitality Insights provides deal-makers with the latest information on trends and opportunities and is the official news arm of top global hospitality conferences, including; The Annual Hotel Conference, The International Hospitality Investment Forum and The Resort & Residential Hospitality Forum.

Questex

Supplier News

July 23, 2021

Cvent, A Leading Enterprise Event Technology Provider, To Become Publicly Traded After Combining With Dragoneer Growth Opportunities Corp. II

Cvent, a market-leading meetings, events, and hospitality technology provider, and Dragoneer Growth Opportunities Corp. II (Nasdaq: DGNS) (“Dragoneer”), a special purpose acquisition company, today announced their entry into a definitive business combination agreement (the “Merger Agreement”). Upon closing, the combined company will operate as Cvent Holding Corp., and is expected to trade under the ticker symbol “CVT.”

Cvent Europe Ltd

Supplier News

July 14, 2021

M3 Named Gold Globee® Winner in the 13th Annual 2021 Golden Bridge Business and Innovation Awards

M3, the hospitality sector’s #1 cloud-based accounting, financial and data management platform in North America, has been named a winner in the 13th Annual 2021 Golden Bridge Business and Innovation Awards in the Business Intelligence Innovation category for its dedicated business intelligence solution, Insight.

Lawrenceville, Georgia, United States

Supplier News

June 29, 2021

M3 Welcomes Over 25 New Accounting Core Customers

M3, the hospitality sector’s #1 cloud-based accounting, financial reporting and data management platform, onboarded over 25 hotel management companies onto its entry-point software, Accounting Core, in Q1 and Q2 2021. The addition amounts to 320 new hotel properties utilizing M3 to drive cost savings and increase efficiencies.

Lawrenceville, Georgia, United States

HN Original

World Panel

The End of "Pay at Hotel"?

By Mark Fancourt

Expert Views (7)

Pablo Torres

The most significant impact might not be operational, but psychological. Why? Because it's the hotel industry's fault. Let me explain:For years, hotels have trained guests to treat bookings as placeholders: reserve today, decide later.

View all Answers

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