Fairmas Hotel Financial Planning
Financial planning to ensure a healthy bottom line and to secure long-term business with the focus on profit.
FairPlanner, with interfaces to all major Property Management Systems (PMS), Accounting Systems, Revenue and Document Management systems among others for automated data integration, is the hotel-specific business intelligence solution for efficient and transparent revenue and profitability planning.
As a web-based corporate performance management software, FairPlanner is a controlling and planning solution at the same time: The intuitive dashboard shows all relevant hotel key performance indicators (KPI) and market data for 360° insights for the corporate control at a glance. The integrated planning and reporting function enables an efficient sales and cost planning for all hotel areas and hotel departments based on hotel-specific P&L charts of accounts.
Overview of functionalities
*Disclaimer:Hospitality Financial and Technology Professionals (HFTP®) is the official entity who owns the copyright to the USALI. The copyright was previously owned by the Hotel Association of New York City. Revisions to the USALI are overseen by the Financial Management Committee (FMC) of the American Hotel & Lodging Association (AHLA), a majority of which are also HFTP members. Fairmas only uses the term "USALI" to refer to the existing industry standard as one of several, possible, company-specific P&L account frameworks.
FairPlanner is based on a flexible, customer-specific (P&L) chart of accounts framework (e.g. USALI*). This makes FairPlanner easy to implement and ready to use in all types of hotel businesses, being able to standardize and consolidate data regardless of the hotel locations. It is also highly flexible as the chart of accounts could be customized according to each hotel’s specific requirements. FairPlanner incorporates all operational hotel departments, building a bridge from the profit and loss statement (P&L) to the budget and forecast planning.
The automated consolidation of actual data from your accounting system and the on the books reservations (OTB) from your PMS for the calculation of daily updated hotel performance indicators (KPI) in FairPlanner, provides you with an up to date target/ actual comparison of your budget and revenue planning at a glance. In FairPlanner, you see deviations immediately and without any additional effort so you can intervene at once.
FairPlanner’s Rolling Forecast feature, which complements the backward-looking actual/budget comparison feature, allows you to predict future developments. The monthly forecast shows deviations before they occur, so that you can take countermeasures in good time. In addition, you can quickly and easily calculate alternative future scenarios in the “What-If” calculation feature using the driver function. With the knowledge of the effect of alternative additional costs , occupancy rates and room rates on your company’s success, you lay the foundation for transparent, well-founded and information-led decisions – at no extra cost and whenever necessary.
Have the right information in the right place. Graphically presented information for less explanation. FairPlanner’s integrated management reporting system combines planning and reporting in one solution. FairPlanner automatically delivers the right report to the respective user via e-mail. Ad hoc reports can be generated quickly and easily. Information depth and content can be defined individually according to functional area and management level – consolidated for group level, per hotel brand or for a single hotel. The result: reports providing all decision-relevant data in a clearly structured format.
*Disclaimer: Hospitality Financial and Technology Professionals (HFTP®) is the official entity who owns the copyright to the USALI. The copyright was previously owned by the Hotel Association of New York City. Revisions to the USALI are overseen by the Financial Management Committee (FMC) of the American Hotel & Lodging Association (AHLA), a majority of which are also HFTP members. Fairmas only uses the term “USALI” to refer to the existing industry standard as one example of several, possible, company-specific P&L account frameworks.