Finance Supplier News - Hospitality Net

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May 5, 2021

ProfitSword Demonstrates the Cost Savings of Business Intelligence For Hotels With Newly Published White Paper

ProfitSword, a premier developer of business intelligence and data integration software, has announced the publishing of a white paper focusing on how hoteliers can save themselves from thousands of dollars in operational expenses when deploying an advanced business intelligence platform. Now freely available for hospitality professionals to download from the ProfitSword website, the new white paper takes a step-by-step approach to demonstrate precisely where and how much hoteliers can stand to save, while also providing valuable insight into how the same business intelligence solution can increase profits and result in more efficient use of available labor resources.

April 7, 2021

Night Audit And All You Need To Know About It

Hotel operation runs without breaks - 24 hours every day for seven days. Maintaining the load of check-ins and check-outs, catering to different kinds of guests and optimizing occupancy are some common challenges hoteliers are familiar with. For smooth running, the front office must routinely review and verify the accuracy of accounting records. Night audit is the process that intends to fulfil this need.

March 22, 2021

Access Point Financial Appoints Michael Lipson as New Company CEO

Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, has today announced the appointment of Michael Lipson as Chief Executive Officer. Also continuing his role as Chairman of the Board for APF, Lipson possesses more than 40 years of financial and banking expertise. In his new role as CEO of the organization, he will be responsible for spearheading the expansion of lending services available to hoteliers, as market conditions continue to improve.

Access Point Financial, LLC

March 16, 2021

StayNTouch and Design Hotels Partner to offer Intuitive Cloud PMS and Contactless Technology to over 300 Independent Hotels

StayNTouch, a global leader in cloud hotel property management software (PMS) and contactless technology, has recently partnered with Design Hotels, an independent Marriott brand with a global portfolio, to offer a native cloud PMS and guest-facing mobile technology to more than 300 premium boutique Design Hotels around the world.

March 2, 2021

The Top 7 Measurable Metrics to Ensure your Hotel Sees Online Marketing Success in 2021

With each month that passes, there's a duty of care to guests and stakeholders to visit the performance metrics of your hotel for online marketing success.

December 16, 2020

CCG PACE Funding Closes $3.55 Million in Retroactive C-PACE Funding for Milwaukee’s Cambria Hotel

The Cambria Hotel Milwaukee Downtown located at 503 N. Plankinton Avenue utilized $3.55 Million of Commercial Property Assessed Clean Energy (C-PACE) capital to retroactively finance the water and energy efficient improvements incorporated within its design. Completed in 2019, the four-story, 132-room hotel was designed with the modern traveler in mind, including design elements and artwork that celebrate the local area's wooded parks, regional flora and unique freshwater history as well as protect that natural environment by maximizing water and energy efficient technologies.

CCG PACE Funding, LLC

mil, United States

October 20, 2020

HotelFriend Enables Digitalization Of Hotels With “digital Now” State Grant

The pandemic has shaken the hotel industry like no other. Hoteliers had to shut down for months, some of them are still closed. They are struggling with a loss of income and short-time work. Starting from 07.10.2020, new accommodation bans were introduced, causing uncertainty, plummeting revenue, and concerns for both hoteliers and travelers. At the beginning of the pandemic, HotelFriend has repeatedly called for specific solutions for the industry e.g. a digital package for workflow enhancement and compliance with hygiene measures in hospitality. It required more tangible actions and federal funding to support people working in the hotel industry.

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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.

August 4, 2020

Onyx CenterSource Launches Contactless Virtual Card Solutions

Onyx CenterSource, a leading global provider of B2B payments and business intelligence to the hospitality industry, today announced the launch of virtual credit card payment solutions to its hospitality and travel clients worldwide.

Onyx CenterSource

June 25, 2020

SevenRooms Raises $50m Series B Round With Providence Strategic Growth

SevenRooms ("the Company"), a fully-integrated, data-driven guest experience platform for the hospitality industry, has raised a $50 million Series B funding round led by Providence Strategic Growth ("PSG"). This latest funding aims to support SevenRooms' continued global expansion and enable the company to further enhance the industry's only end-to-end guest experience platform focused on helping operators build profitable, direct relationships with their guests. In conjunction with the investment, PSG Managing Director Adam Marcus will join SevenRooms' Board of Directors.

June 23, 2020

Horizon Properties Group Maintains Business Continuity with Aptech’s PVNG During CV19

PITTSBURGH - "I came onboard Horizon Properties Group in late 2015 and started to review cloud-based hotel accounting software systems. This was three years before the CV19 difficulty began. When we deployed Aptech's PVNG Enterprise Accounting this February we did not plan for a pandemic, but PVNG has been instrumental in our business continuity because now we can oversee financial performance and effectively manage operations remotely," said Joshua M. Morgan, CHTP, director of technology and infrastructure for Horizon Properties Group, LLC.

April 24, 2020

Statement from Expedia Group Chairman Barry Diller

Barry Diller, Chairman and Senior Executive of Expedia Group (NASDAQ: EXPE) stated, "We have one mandate - to conserve cash, survive, and use this time to reconstruct a stronger enterprise to serve the future of travel. We are unable to make any predictions as to when travel will rebound but we emphatically believe that it will, for....'if there's life, there's travel.'"

Expedia Group, 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.

March 23, 2020

Sabre Announces Over $200 Million in Cost Saving Actions and Other Measures to Strengthen Financial Position in Response to COVID-19

Sabre Corporation (NASDAQ: SABR), the leading software and technology company that powers the global travel industry, announced today that it is taking significant measures to strengthen its financial position in response to the current industry conditions. The travel industry continues to be adversely affected by the global health crisis caused by the outbreak of COVID-19, as well as by government directives that have been enacted to slow the spread of the virus.

March 12, 2020

Access Point Financial Provides $11M in Financing for Sheraton Chicago Northbrook Renovation

Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, today announced the completion of an agreement with a Chicago-based ownership group to provide $11 million in financing for the renovation of the Sheraton Chicago Northbrook Hotel.

Access Point Financial, LLC

March 5, 2020

Access Point Financial to Finance Hitalk Hotels’ Acquisition of Hyatt Place Mohegan Sun in Connecticut

Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, has signed an agreement with Hitalk Hotels to provide financing for the company's acquisition of the Hyatt Place Mohegan Sun in Uncasville, Connecticut. Access Point Financial provided $10.1 million in financing for the acquisition of the property, which will be managed by Aimbridge Hospitality. The hotel is expected to now undergo a renovation to update its furniture, fixtures, and equipment in accordance with brand standards. The transaction closed on November 14, 2019.

Access Point Financial, LLC

February 24, 2020

Future Of Payments: Could Expense Reports Be On The Way Out?

Buying things is pleasurable. Unless it's for work. Hoarding receipts for coffee and lunch; the finance team picking their way through them and making sure everything squares up at the end of the month: There are no winners when it comes to filing expense reports.

February 5, 2020

Twenty Four Seven Hotels Updates Accounting to Aptech’s PVNG for 23 Properties

PITTSBURGH - Aptech Computer Systems, the industry standard for hospitality financial systems, announced Twenty Four Seven Hotels updated its Enterprise Accounting for 23 properties to the PVNG Cloud Back Office system. Twenty Four Seven Hotels is headquartered in Newport Beach, California, with a portfolio that includes Marriott, Hilton and Hyatt brands. Aptech is an IBM Premier Solution Provider as well as a Prophix Premier Business Partner offering web-enabled business intelligence, budgeting, and hotel accounting software systems that are 100% hospitality specific. Click here for more on Aptech's products and services.

January 20, 2020

Amadeus Named Platinum Sponsor of HOSPA to Promote Industry Growth

HOSPA, the UK's leading organization for hospitality professionals, has named Amadeus, an industry-leading provider of hospitality technology solutions, as a platinum sponsor through 2021. As part of the new partnership, Amadeus will work with HOSPA to issue data-driven insight for hospitality organizations to strengthen revenue strategies, as well as deliver exceptional guest experiences.

Amadeus Hospitality

January 7, 2020

Access Point Financial Partners with AD1 Global to Finance the Development of Hyatt Place and Home2 Suites in Palm Bay

Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, has signed an agreement with top hotel development and management firm, AD1 Global Hospitality, to finance the development of a Hyatt Place and Home2 Suites by Hilton located in Palm Bay, Florida.

Access Point Financial, LLC

December 17, 2019

Texas Western Hospitality Partners with ProfitSword to Gain Seamless Access to Data Management and Business Intelligence Abilities

ProfitSword, hospitality's premier developer of business intelligence and data integration software, has been credited with streamlining and maximizing the financial and strategic business planning abilities of Texas Western Hospitality since its implementation of advanced data management solutions: ProfitSage, ProfitPlan and ProfitWizard. A third-party hotel management company, Texas Western Hospitality now possesses the real-time analytical insight needed to take operational efficiency and the ability to identify business opportunities to new heights.

December 16, 2019

Access Point Financial Names New Financial Executive Appointments Ahead of 2020

Access Point Financial, LLC (APF), a leading direct lender and specialty finance company focused exclusively on the hospitality industry, revealed two new key appointments to its leadership team, with Angelo Stambules signing on as VP of Capital Markets and Loan Syndications, and Keith Avant joining as Chief Credit Officer. Both appointments were made as part of Access Point Financial's aggressive growth strategy going into 2020.

Access Point Financial, LLC

The End of "Pay at Hotel"?

By Mark Fancourt

Expert Views (7)

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.

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