CHMWarnick, a leading asset management and owner advisory firm, has unveiled Proph+IT, a groundbreaking business intelligence platform designed to optimise returns on investment for hotel owners and operators. The platform provides a streamlined approach to performance metrics, enabling more strategic decision-making and faster responses to operational challenges.
According to Derek Olsen, Managing Director and EVP of CHMWarnick, Proph+IT is a game-changer. “This platform simplifies complex portfolio performance data, giving owners and operators the clarity they need to take swift, informed actions that enhance returns.”
Initially powering CHMWarnick’s own asset management activities-spanning over 400 hotels across all property types and tiers-Proph+IT is now being made available to the wider investment and management communities.
Real-World Impact: Examples from the Field
Olsen shared compelling examples of Proph+IT in action:
Utility Savings: At one property, the platform’s utility expense analysis revealed a surge in water costs. Further investigation confirmed excessive water consumption caused by a hidden leak. By addressing the issue promptly, the team saved thousands of pounds in unnecessary costs and prevented potential property damage.
Debt Yield Management: For a lifestyle hotel with a looming loan maturity and strict debt yield requirements, Proph+IT played a pivotal role. Using the platform’s monthly KPI analysis tools, CHMWarnick identified expense-saving opportunities and deferred non-critical costs, allowing the hotel to meet the debt yield threshold without requiring a loan paydown.
Cost Benchmarking: At a large convention hotel, Proph+IT benchmarked laundry costs against similar operations, uncovering significant savings of over £1 per occupied room. It also revealed that providing laundry services for other nearby hotels wasn’t cost-effective due to the added wear and tear on equipment.
Features Designed for Success
Built on familiar tools like Microsoft Power BI and Excel, Proph+IT seamlessly integrates into existing workflows without requiring lengthy onboarding. Its user-friendly features include: Pre-mapped systems for major hotel brands and over 15 third-party management companies, granular insights with over 63,000 individual line items, enabling detailed analysis of labour productivity, food and beverage expenses, and other metrics, dynamic dashboards offering customised views of portfolio-wide KPIs or deep dives into individual property performance anomalies, benchmarking tools to compare performance across dozens of KPIs and productivity metrics, automated processes for collecting and analysing profit and loss statements, budgets, forecasts, and other reports, cloud-based accessibility for on-the-go data access via PCs, tablets, or mobile devices.
Olsen emphasised the platform’s versatility: “With Proph+IT, we’re not just providing a tool; we’re equipping hotel owners and operators with a powerful resource to make informed, data-driven decisions. It’s about empowering our clients to achieve stronger returns and long-term success.”
As the hospitality industry continues to navigate a complex and competitive landscape, CHMWarnick’s Proph+IT offers a timely and effective solution for maximising performance and profitability.
Subscribe to our newsletter below