From Planning to Performance
Effective hotel budgeting is not about setting numbers once a year anymore. In today’s dynamic hospitality landscape, financial planning and analysis needs to be flexible, data-driven, and integrated across departments and properties. That’s where Fairmas comes in.
Our latest infographic, “Master Hotel Budgeting with Fairmas: From Planning to Performance,” breaks down the key steps to mastering hotel budgeting using Fairmas. Whether you’re planning for a single property or managing a hotel group, Fairmas empowers you to align your strategy with real-time performance. Offering automated data transfers across 150+ systems, Fairmas breaks down data silos, enabling dynamic budgeting and more informed decision-making as market conditions evolve.
Here’s an infographic for a quick look at how Fairmas supports you through each stage of the budgeting and performance process:
- Plan Strategically: Create & plan your Budget, either zero-based or based on existing data. Use versioning and workflow feature for review & approval
- Define Performance Metrics: Set your own KPIs within Fairmas’ Daily / Monthly reporting
- Automate Data flow: Pull performance data from external sources (PMS, RMS, Accounting Systems, Benchmarking, etc.) to power your KPI reporting via 150+ interfaces
- Hotel & Group wide Insights: Provide reporting to monitor whether the planned budget is met. Use automated or ad-hoc reporting for detailed updates on account, department, hotel or group
- Adjust Planning: Use a flexible Forecast and What-if planning to account for changes in demand and costs
- Action & Review: Implement best practices & monitor performance. Use Fairmas for detailed operational analysis & ongoing, data-driven strategy refinement to achieve measurable results.
Fairmas provides the visibility, transparency, and control needed to make smarter, faster, and more strategic decisions. It allows users to stay agile, respond confidently to market changes, and continuously optimize financial performance across properties or entire portfolios using a dynamic budget and data integrations.
Ready to optimize your hotel budgeting process?
