Reconciliation Management

 

Featured service

One of the best bang-for-buck activities for a hotel is to spend time to reconcile between their property management system and the online travel agencies with whom they partner. The boost to cash flow can be immense, which is why we offer a reconciliation management service. But your first question might be, why not do it by myself?

For one, archaic interfaces and tools make it difficult to find the necessary information. Add on top that OTAs enforce tight deadlines on how long you have after each month to identify discrepancies, and there is also a time crunch with which to contend. It’s as if everything is designed to make it so you can’t maximize getting your fair share.

The other issue is that even when you find a way to train property-level employees, hoping they remain long-term team members, they are also assigned several other tasks to keep your property functioning. So despite having processes in place, our experience has shown that cash flow is still missed.

By using our dedicated team, we have both the skills and resources to hyper execute on reconciliation. We are even able to analyze virtual card transactions to identify undercharged situations as well as cancellations where fees have not been collected for non-refundable bookings. And as is our hallmark, we work to share in the benefits and only make money if we find you money.

 

Easy first steps

Access

You give us access to

  1. Expedia Partner Central

  2. Booking Extranet

  3. Your cloud-based PMS

Analyze

We turn around a report in less than two weeks covering reservations that have not been reconciled as well as incorrect transactions that have been made

 

An eye-opening free audit

As part of building a relationship and proving that we can provide genuine value to your property, we are more than happy to review your transactions from the last few months at no cost to you. Whether or not you’ve instituted reconciliation processes, our goal is demonstrate that we are able to capture missed opportunities to improve your cash flow.

 
 

Revenue v. Reconciliation management

One of the popular questions we hear is if owners should be upset with their staff for missing discrepancies; in fact, we’ve asked ourselves the same thing when reviewing our own dozens of properties. Our take is that the answer is no - our on-site teams have a tremendous amount going on and we ask them to focus on service above anything else. It would be a different story if there was a financial analyst or an accounting associate dedicated to the “numbers” including activities related to reconciliation.

But then what about third parties such as revenue management partners? This comes down to goal orientation. A revenue manager is focused on maximizing top-line growth, which means doing all the work required to set the best rates and hit the highest occupancy rates. If they have an extra day in a month, they would likely spend that time trying to increase ADR above anything else. A reconciliation team such as ours has a different end game and we gear our resources toward accomplishing it: minimizing discrepancies to maximize your cash flow.