You might ask yourself, "what's the 'suite-est' hotel stay you've had lately?" You are sure to experience the next level of 'suite-ness' when you stay at a Hotel Equities property in the near future. The reason, Oracle NetSuite will soon be taking up "suite-residence" as Hotel Equities' ERP.
The next time you stay at an Aloft, Doubletree, Embassy Suites, Fairfield, Four Points, Hampton Inn, Hilton Garden, Home2, Homewood Suites, Holiday Inn, Hyatt Place, Residence Inn, SpringHill, or TownePlace, just ask if your Inn Keeper is Hotel Equities. They are a best-in-class owner, operator, and developer of nearly 300 hotels and resorts throughout the U.S. and Canada. They host a trademarked ‘Vision Statement’ of “Excellence in Hospitality™.
Talk about a 'Suite Upgrade,' Hotel Equities has selected Oracle NetSuite to support its vision to deliver a comprehensive ERP. With NetSuite, Hotel Equities will take advantage of an integrated technology ecosystem to help increase productivity, automate key business processes, visualize real-time data and analytics, and improve visibility across its operations.
“As our portfolio grew so did the complexity of our operations and that was making it more difficult to scale and adapt in an ever-evolving business landscape,” said Eric McCarthy-Zink, CFO, Hotel Equities. “NetSuite will help remove this complexity by creating a single source of truth that allows us to improve the accuracy and efficiency of our business processes as we grow. The combination of NetSuite’s powerful business software and its industry expertise will position us for continuous innovation and growth and allow us to focus on what truly matters – our guests, associates, and ownership partners.”
With NetSuite, Hotel Equities will be able to automate workflows, improve insights, and enhance decision-making. For example, the financial consolidation and reporting capabilities within NetSuite can help Hotel Equities streamline financial close processes. NetSuite OneWorld can enable Hotel Equities to simplify the management of multiple currencies, and NetSuite CRM can help to improve owner partner communication and experiences by providing real-time visibility into transactions, support cases, and pipeline. To further enhance operational efficiency and service standards, Hotel Equities plans to integrate all hotels’ property management systems and point-of-sale (POS) systems into NetSuite to provide a single view into its business performance. With a robust integration with Oracle Hospitality OPERA Cloud platform and MICROS Simphony Cloud POS, the solutions can support future growth. Hotel Equities is also exploring additional NetSuite solutions that leverage AI across data warehousing, preliminary financial reviews, and narrative reporting.
“Accuracy and efficiency are critical for hospitality organizations as they seek to create superior guest experiences that generate loyalty and growth,” said Sam Levy, senior vice president of growth and operations, Oracle NetSuite. “With an integrated and scalable cloud business suite, NetSuite will help Hotel Equities gain visibility across its entire portfolio, improve business productivity, and identify opportunities to drive future growth.”
McCarthy-Zink added, “We are redefining our accounting platform to better serve clients through this more tailored approach which enables Hotel Equities to add maximum value in the services we provide for hotel owners.”
Content within this feature (including the headline graphic) has been adapted from source materials furnished by Oracle NetSuite. Referenced source materials or content appearing within this Insightful Accountant feature were adapted and are furnished solely for educational purposes.
NetSuite and Oracle are registered trademarks of Oracle Corporation. Oracle Corporation is a publicly-traded NYSE-listed (ORCL) multinational corporation headquartered in Austin, Texas (USA).
For more than 25 years, Oracle NetSuite has helped organizations grow, scale, and adapt to change. NetSuite provides an integrated system that includes financials / Enterprise Resource Planning (ERP), inventory management, HR, professional services automation and omnichannel commerce, used by more than 37,000 customers in 219 countries and dependent territories.
Hotel Equities (HE) is an award-winning full-scale hotel ownership, management, and development firm with a portfolio of approximately 300 hotels and resorts throughout the United States and Canada. Fred Cerrone, CHA, serves as Founder and Chairman; Brad Rahinsky serves as President and CEO.
Any other trade names used within this article, including any other vendor (app/software) discussed herein, may refer to products registered, trademarked, or otherwise held by their respective owners. They are referenced solely for informational and educational purposes.
This feature is NOT sponsored content. The article is provided for informational and educational purposes.
The publication of this article does not represent an endorsement by either the author or Insightful Accountant.
Note: Registered Trademark ® symbols have been eliminated from the articles within this publication for brevity due to the frequency or abundance with which they would otherwise appear or be repeated. Every attempt is made to credit such trademarked products within our respective article footnotes and disclosures.