Coastal Selects UniFocus' Financial Management
Alliance Rivals Business Intelligence at Major Hotel Brands
MARCH 1, 2007. Coastal Hotel Group announced today that they have selected the Unifocus Watson, R.M.TM suite of financial and labor management software applications for its entire portfolio of boutique hotels and resorts. UniFocus will deploy its software systems to all Coastal properties enabling its hotel management teams to utilize this cutting edge technology for revenue reporting, budgeting, labor management, and accounting practices.
According to Peter LaFemina, Chief Financial Officer, Coastal Hotel Group, "Leveraging UniFocus' technology through an alliance with Coastal's experienced management team makes the whole stronger than each part. We are creating a combination that can match the multi-property business intelligence capabilities of all major hotel brands."
The Watson, R.M. product suite will provide customized, consolidated corporate real-time reporting for comparative purposes across all key performance measures; revenue evaluation for multiple property management systems; improved financial performance through more efficient use of labor with automated standards based scheduling; customized multi-property budgeting capabilities, including flex-based performance evaluation; and more.
"Real-time financial management systems are essential in today's fast-paced and dynamic environment," LaFemina explained. "If your current management company hasn't automated these support systems, your property is at a competitive disadvantage."
Mark Heymann, UniFocus' Chief Executive Officer, is pleased with the Coastal Hotel Group partnership. "Coastal is known for providing distinctive luxury lodging choices to the discerning traveler," explained Heymann. "We appreciate the opportunity to deliver our latest technology to Coastal, providing them with the tools they need to help grow their business and add value to the assets they are managing. We look forward to an ongoing partnership with them."
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