3 Financial Datapoints That Can Help You Boost Profitability
In the hospitality industry, every financial decision impacts profitability—but without full visibility, hotels risk losing revenue without even realizing it. Managing multiple properties creates financial blind spots, making it nearly impossible to track excessive credit card fees, undetected fraud, and payment security gaps. Without a centralized revenue management solution, these hidden costs quietly drain profits.
Evention’s Total Recon Enterprise safeguards hotel portfolios from these financial threats. Without it, escalating costs and avoidable losses continue unchecked. Read on to uncover three critical financial data points that could mean the difference between profit and loss.
Use Cases for Hospitality Teams
Managing finances across multiple properties can be a complex and time-consuming process, especially for Shared Service Centers (SSCs) and finance teams like Controllers, Directors of Finance (DOFs), and CFOs. With multiple departments, data silos, and manual processes, it’s easy for important financial insights to become lost. That’s where Total Recon Enterprise comes in.
Shared Services: Financial Control Across Multiple Properties
Hotels that rely on a Shared Service Center (SSC) often struggle with gaining a comprehensive view of their financials across multiple properties. Total Recon Enterprise streamlines this process by centralizing credit card reconciliation, enabling SSCs and enterprise clients to efficiently manage hotel portfolios with greater accuracy and control. By consolidating financial data into a single platform, users gain clear, actionable insights that drive smarter decision-making.
For large hotel chains, this level of granularity is essential. Finance teams can access a complete, detailed financial overview, while stakeholders receive high-level insights that focus only on the most relevant data, ensuring clarity without complexity.
Controllers, DOFs, and CFOs: Uncovering Efficiency and Insight
Many hotel finance teams lack centralized visibility, forcing them to rely on Excel to manually consolidate data for reporting. Not only is this inefficient and time-consuming, but it also error-prone. Total Recon Enterprise provides finance teams advanced analytics on credit card transactions, offering a detailed breakdown of your hotel portfolio financial data.
Having access to these automated insights allows finance teams the ability to identify key trends, uncover operational inefficiencies, and discover potential cost-saving opportunities all while achieving financial compliance.
3 Key Financial Data Points
Understanding secure and non-secure payments, chargebacks and Dynamic Currency Conversion is imperative for hotel portfolios. Accessing this centralized data with Total Recon Enterprise allows financial teams to understand each property’s financial health and areas for optimization, potentially saving thousands of dollars each month.
- Secure vs. Non-Secure Transaction Summaries: It’s crucial for hotel properties to closely monitor this metric when reviewing financials, as minimizing non-secure transactions can help reduce interchange fees and improve overall financial performance. Total Recon Enterprise provides analytical insights into the percentage of non-secure transactions, helping identify areas for improvement.
- Chargeback Summaries: Without access to robust systems that can drill into the details of each chargeback, hotels may have a difficult time identifying patterns or pinpointing areas of vulnerability, leaving them exposed to unnecessary losses. Total Recon Enterprise users have full visibility into their financial data across properties to track and manage chargebacks. By reducing the likelihood of errors and disputes, hotels can safeguard their financial health and minimize the risk of costly chargebacks.
- Dynamic Currency Conversion Summaries: Dynamic currency conversion (DCC) allows customers to make purchases in their local currency, which benefits businesses by profiting from the exchange rate at the time of the transaction. Utilizing a system like Total Recon Enterprise helps hoteliers gain greater insight into these transactions, offering comprehensive data on currency conversions and ensuring more accurate financial tracking.
The Benefits of Leveraging Total Recon Enterprise
Evention users can enhance their hotel revenue by increasing Dynamic Currency Conversion (DCC), decreasing fees, and minimizing risks. By identifying patterns where non-secure charges incur 4-6 times higher fees and generate more chargebacks, hotels can operationally shift to more secure transactions with the help of a hotel revenue management software.
One case study of a London hotel shows significant improvements, with monthly profit increases of £9.95K ($13.2K) and annual estimates of £119.4K ($158.6K), achieved through front desk retraining and optimized check-in procedures.
Conclusion
Total Recon Enterprise offers hotels more than just financial oversight, it reveals the hidden threats to revenue that often go unnoticed. Without this powerful solution, hotels risk missing crucial transaction discrepancies, costly fees, and security lapses that can steadily erode profitability. The lack of centralized control and insight creates an environment where financial risks grow unchecked, leading to avoidable losses that can add up to thousands of dollars each month.
With Total Recon Enterprise, hotels gain the clarity and control needed to drive smarter financial decisions and maximize their bottom line, making it an essential tool for any hotel aiming to stay competitive and profitable in today’s market.
