Hotel Equities Alliance with Oracle NetSuite to Sets New Standards in ERP Innovation

Monday, April 8, 2024

Hotel Equities, a prominent hotel management company boasting an expanding collection of nearly 300 hotels and resorts across the United States and Canada, has opted for Oracle NetSuite to propel its ambition of providing a comprehensive ERP solution. By embracing NetSuite, Hotel Equities aims to harness an integrated technological landscape, enhancing productivity, automating critical business functions, accessing real-time data and analytics, and augmenting operational transparency.

“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.” 

Utilizing NetSuite, Hotel Equities aims to streamline workflows, enrich insights, and bolster decision-making capabilities. For instance, NetSuite’s financial consolidation and reporting functionalities offer Hotel Equities the opportunity to streamline financial closing processes. Additionally, NetSuite OneWorld facilitates the management of multiple currencies, while NetSuite CRM enhances owner-partner communication and experiences by delivering real-time visibility into transactions, support cases, and pipeline status. To further optimize operational efficiency and service quality, Hotel Equities intends to integrate all hotel property management systems and point-of-sale (POS) systems into NetSuite, providing a unified perspective on business performance.Backed by seamless integration with the Oracle Hospitality OPERA Cloud platform and MICROS Simphony Cloud POS, these solutions are well-positioned to facilitate future expansion.Furthermore, Hotel Equities explores additional AI-powered NetSuite solutions for data warehousing, preliminary financial analyses, 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.”

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