CHMWarnick, an asset management and owner advisory services company, has launched Proph+IT, a business intelligence platform designed to improve how hotel owners and operators collect, analyze and respond to performance data to improve investment returns.
When hoteliers uses multiple reports across many platforms and sift through massive amounts of data, decision-making can become overwhelming and time-consuming. Proph+IT aims to eliminate these issues by streamlining critical performance metrics across entire portfolios.
“Owners and operators deserve a platform that transforms financial metrics into strategic clarity,” Proph+IT lead Derek Olsen, managing director/EVP, CHMWarnick, said in a statement. “With Proph+IT, we are not only streamlining the data collection process, we are providing actionable insights that drive results and optimize asset value.”
Key features are:
- Seamless integration: Built on Microsoft Power BI and Excel, Proph+IT integrates into existing workflows without an onboarding process.
- Pre-mapped systems: Proph+IT is already mapped to the chart of accounts for the major brands and more than 15 leading third-party management companies.
- Detail: With more than 63,000 individual line items, users can dissect detailed labor and productivity metrics, food and beverage expenses, and key insights at an unprecedented level.
- Dynamic dashboards: Customized views to track portfolio-wide KPIs or drill down into individual properties for a deeper look into performance anomalies.
- Industry benchmarking: Proph+IT benchmarks current and forecasted performance of individual hotels and portfolios across dozens of key performance indicators and labor productivities.
- Enhanced efficiency: Automating the collection and analysis of P&L statements, forecasts, budgets and other reports, Proph+IT frees up time for owners and operators to focus on strategy and actionable insights.
- Cloud-based accessibility: View data from a PC, tablet or mobile device through Proph+IT’s cloud-based platform.
Proph+IT currently powers CHMWarnick’s asset management platform, which has included over 400 hotels and has successfully informed strategies across all property types and tiers. Due to growing demand from clients and industry partners seeking a more efficient and actionable way of distilling performance metrics, CHMWarnick is making the platform available to the broader investment and management communities for the first time.