Fairmas shows new features at ITB 2018
Fairmas presents hotel financial planning and reporting software with enhanced features at ITB 2018
Fairmas solutions focus on the optimization of budget and forecasting processes as well as management reporting
February 21, 2018: Fairmas GmbH will be participating once again at the world’s leading travel trade show Internationale Tourismus-Börse Berlin (ITB) with their own exhibitor stand. Individual presentations allow hotel owners, hotel directors, financial directors, controllers and revenue managers to see the value of FairPlanner Online, the web-based software solution for efficient planning of hotel revenue, costs and profits. As the core product of Fairmas, FairPlanner will be introduced with a highlight on its latest additional features including automatic calculation of cost changes on profit and loss, as well as yield. A wider range of reports has also been developed to cater to the different decision levels. In addition, there is a new look and feel to the fully converted web-based application increasing product usability. Also at this year’s ITB, the online version of Pickup Tracking will be presented to a broad audience for the first time. The daily monitoring and reporting solution for hotel revenue management shows reservations “on the books” per market segment up to 365 days in advance.
Having been able to attract more than 3,000 hotels worldwide since its foundation in 2003, Fairmas’ strong suit is their hotel-specific expertise and in-depth understanding of the unique and complex demands of the hotel industry’s financial planning requirements. The company shareholders and executives’ invaluable experiences, together with their constant exchange with specialists and decision-makers of the hotel industry characterize the development of IT-supported process automation that is tailor-made for hotels of all sizes.
Revenue Management in Transition
Digitalization and globalization have profoundly changed the market environment for hotels over the past two decades. The pressures of growing competition, price increases and constantly changing booking behavior of hotel guests over a multitude of different channels force hotel companies today more than ever, to keep an eye on the costs and profitability of all hotel areas – from rooms, laundry to wellness area. The complex corporate structure of hotel companies of today – with different owners and operators, various hotel brands under one umbrella, and multiple locations – requires better comparability of results and easier consolidation at different levels.
This is where FairPlanner comes in.
By automating and standardizing financial planning processes, FairPlanner uses the hotel’s existing data automatically transferred via interfaces, allowing hotel and revenue management to use accurate data in their targeted budget and financial planning.
The comparative analysis by means of the freely selectable time range, hotel department and segment is done at the touch of a button within FairPlanner. Information about forecast-actual deviations and what-if scenarios are determined quickly and can be easily distributed thanks to its integrated reporting feature. Automation reduces the processing time required and ensures high data quality and accurate data availability. This is an important benefit especially when there is less staff, as the team is able to turn large amounts of data into useful information allowing them to react quickly to changes in order to achieve the Key Performance Indicators (KPIs).
In the hotel and tourism industry, digitalization has changed the booking behavior of guests. The customer of today book on short notice, use many different booking channels and is more price sensitive due to the increased transparency. To be able to continue controlling and monitoring the booking behavior with suitable measures, hotels need a tool to keep them up to date with the daily overview of their current hotel booking situation, including pickups and cancellations that can be differentiated by market segments.
With the new products Pickup Tracking Online and Pickup Tracking App, the hotel management has an instrument at hand, with which they get an overview of the booking situation and its changes with a simple click. If required, the pickups can be analyzed in detail according to different individually selectable parameters such as time range, segment or channel.
“Today’s hotel customers are using digitalization to book quickly and easily – it is time for hotels to get relevant information just as quickly and easily, if they aim to get significant market share,” explains Niels Schroeder, Managing Director of Fairmas GmbH, with a small wink.
“With the new web-based Pickup Tracking Online, the reporting feature has been greatly improved compared to the server-based version. The comparison options have been expanded and the handling is made even more intuitive. We also have the Pickup Tracking APP for a quick overview that is independent of both time and location – having the important information anytime, anywhere, right at the fingertips of the user,” he added.
Individual presentations in German, English, Spanish or French can be arranged with the Fairmas team at the ITB. The core product, FairPlanner Online, is available in French, Spanish, English, Chinese and German. Pickup Tracking Online is currently available in German and English, with the French and Spanish versions planned for this year.
Visitors can find Fairmas GmbH in the Trade Visitor Hall for Hotel Technology from 7 to 10 March (Hall 10.1 / Booth 115). Individual discussions and presentation appointments can be arranged in advance through a contact form available at https://fairmas.com/en/contact/meet-us-at-itb/.