Oracle NetSuite gives Hotel Equities a ‘single source of truth’

A ballroom inside a hotel equites stay : Oracle Netsuite

For many businesses, managing operations efficiently while ensuring seamless communication and data management remains a daunting task. The need for streamlined processes and real-time insights is more important than ever, especially for companies with expansive portfolios and diverse operations.

With nearly 300 properties under its management umbrella, Hotel Equities faces these complex challenges on a larger scale. This week, the hotel firm announced its adoption of Oracle NetSuite, a move aimed at addressing these challenges by providing a unified platform to manage all hospitality operations.

Eric McCarthy-Zink, CFO, Hotel Equities, said: “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.

“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.”

One of the primary objectives of integrating Oracle NetSuite is to streamline financial processes. By leveraging NetSuite’s suite of financial management tools, Hotel Equities aims to simplify tasks such as financial reporting and budgeting, thereby facilitating more informed decision-making at all levels of the organization.

The integration of NetSuite with existing property management systems and point-of-sale solutions is anticipated to enhance operational efficiency by providing a centralized platform for monitoring and managing various aspects of hotel operations.

Additionally, the implementation of NetSuite’s Customer Relationship Management (CRM) module is expected to enhance communication and collaboration both internally and with external stakeholders such as property owners and partners. This improved visibility into customer interactions and transactions can contribute to stronger relationships and more personalized service delivery.

Sam Levy, senior vice president of growth and operations, Oracle NetSuite, said: “Accuracy and efficiency are critical for hospitality organizations as they seek to create superior guest experiences that generate loyalty and growth.

“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.”