Hotel budgeting and forecasting with FairPlanner
Optimize your hotel budget planning today!
How can FairPlanner streamline your hotel’s budgeting and forecasting process?
FairPlanneris a powerful hotel budgeting software designed to simplify financial planning and analysis (FP&A) for your hotel. With this solution, you can efficiently manage your hotel’s budget and revenue, planning for profitability across all departments based on hotel-specific P&L charts of accounts. FairPlanner seamlessly integrates with all major data systems (PMS, ERP, etc.), providing an intuitive platform for hotel budget planning and control. Using FairPlanner can significantly reduce your stress during budgeting season and enhance your overall hotel forecasting process.
What are the key benefits of FairPlanner?
Hotel Budgeting and Forecasting
- Comprehensive Budget, Forecast, & What-if Planning: Plan for all revenues and costs across every hotel department with ease.
- Automated Hotel Budgeting: Leverage drivers and planning assistants to automate your financial planning, ensuring accuracy and saving time. Plus available option to base budgeting on the previous year's data.
- Customizable to Your Hotel’s Needs: FairPlanner supports budgeting based on your hotel’s specific P&L chart of accounts, including industry standards like USALI*.
- Flexible Portfolio Management: Manage multiple properties or departments with ease, thanks to the FairPlanner software’s flexible portfolio and cluster structure.
Ongoing Performance Monitoring & Financial Analysis
- Real-Time Target/Actual Comparisons: Continuously monitor your hotel’s performance with daily updated values from your Accounting System and PMS, allowing for precise revenue planning for hotels.
- Detailed Financial Analysis: Drill down to the invoice level and perform financial analysis with freely selectable periods, ensuring comprehensive hotel financial planning.
- Automated KPI Calculations: Utilize pickup monitoring with comparisons to both planned and historical values for accurate forecasting. Monitor key performance indicators automatically for different scenarios, time periods, and segments, aiding in hotel performance monitoring.
360-degree Control
of Operations
- Dashboard for Instant Performance Overview: Gain a complete view of your hotel’s operations and performance, accessible with just one click.
- Achieve transparency at all management levels, from departmental views to consolidated reports.
- Future-Proof Planning: Look ahead with daily revenue monitoring and rolling forecasts extending three years into the future.
- Conduct comparative analyses using historical data from the last five years to stay ahead of trends
- Automated Reporting: Set up automated email reports with flexible data granularity, keeping your team informed with minimal effort
*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, a member and Corporate Allied Sponsor of HFTP, only uses the term “USALI” to refer to the existing industry standard as one of several, possible, company-specific P&L account frameworks.
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