The IHI optimized accounting group, which also serves our publicly traded parent company Hospitality Trust (NYSE:MKT:IHT), consists of experienced accounting professionals who have on average 10 years or more of hospitality accounting experience. This team, equipped with state-of- the-art technology and industry leading best practices, enables IHI to provide owners with timely and accurate financial information to monitor and manage its investment.
- IHI accountants work directly with the hotel management to ensure that each hotel has the knowledge and understanding to interpret and impact the financial results of the property
- Daily reporting of hotel revenues delivered directly to owners through IHI interactive software
- IHI sales and use tax professionals oversee the monthly sales and use tax filings to ensure timely and accurate reporting
- Automated banking and reporting systems allows IHI to reconcile hotel financial transactions on a daily basis, reducing the possibility of errors
- Business intelligence data
- Customized software solutions available by ownership group.
- Monthly and Year-end financial statements
The InnSuites and IHI Information Technology team has worked extensively with our owners, executive leadership teams and properties to develop an expansive infrastructure to support industry leading business intelligence gathering, aggregation, and dissemination process. We have identified and implemented best-in-class technology based systems for mining data to provide historical, current and predictive views of business operations at each property, providing operations teams the necessary information to identify and act upon new opportunities and provide long-term stability for ownership.
Examples of IHI state-of-the-art technology business intelligence systems for hotels include:
- Imports electronic feeds from hotel brands and IBC independents for revenue and quality data
- Enables custom reporting of key operating metrics
- Labor management and expense tracking programs are technologically pushed automatically to hotel operators, minimizing office time at the property level
- Proprietary Owner’s Portal
- Supports instant access to financial and competitive data through secure server
- Ability to customize information based on owner preference
- Dynamic Forecasting/Budgeting System
- Custom integrations available