OPERATIONS

The Story of Crescent Hotels & Resorts

Verified case study Hotel Tech Report has reached out to hoteliers at Crescent Hotels & Resorts to verify this case study.
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About Crescent Hotels & Resorts Crescent Hotels & Resorts (Crescent) is an innovative hotel management company, forged by visionary operators fueled by a robust entrepreneurial drive and a commitment to tangible outcomes. With an impressive portfolio boasting over 25,000 rooms across more than 100 properties, Crescent places paramount importance on accountability, diversity, and seamless communication, propelling them to the echelons of top-tier hotel management companies in North America. With Shaner Solutions providing key back-office accounting support and personnel through a long-standing founding partnership, Crescent’s Centralized Accounting Division sought a more ideal solution to fill old accounting software gaps while elevating efficiency and user experience to unprecedented heights.
Why it matters: The Challenge of Finding a New Solution Faced with the inefficiencies of their aging software used for over two decades, Crescent Hotels & Resorts identified the urgent need for a more modern solution that seamlessly integrates with their collection of other mission-critical systems. With a steadfast commitment to maximizing client satisfaction and operational efficiency, Crescent recognized the imperative to adopt a new system capable of delivering faster reporting and granting properties real-time access. The absence of document attachment capabilities and the complexity of their legacy system hindered field operations and integration efforts. To address these issues, the company sought a user-friendly, paperless solution that could handle modern requirements while enabling properties to log in and perform tasks independently and efficiently. Prompt access to month-end data was crucial for expediting closing processes and facilitating communication between properties and centralized teams. Streamlining these processes would accelerate month-end tasks and allow for deeper analysis and informed decision-making, ultimately improving overall operational efficiency. Crescent sought modern capabilities to address efficiency gaps, prioritizing a system tailored for the hospitality industry. Ease of use was paramount, especially for deployment in the field where General Managers and Directors of Finance needed straightforward, intuitive functionality. Recognizing the importance of responsive technical support, both Crescent Finance and the Centralized Accounting team valued M3's reputation for modern, hotel-specific technology and outstanding customer service. More than just a vendor, they sought a true partnership with M3, emphasizing the need for quick and responsive communication and a deep understanding of the unique demands of the Crescent portfolio. "We were drawn to the system's tailored design for hospitality, prioritizing user-friendliness and seamless deployment in the field. It's crucial that our General Managers and Directors of Finance find it accessible, straightforward, and intuitive to navigate," says Scott Blair, Vice President of Centralized Accounting.
  • How M3 Became the Solution for Crescent Seeking a unified solution, Crescent embarked on a quest to find a platform capable of consolidating diverse systems across various properties with benefits to extend beyond accounting staff alone and into the business operation itself. Transitioning to M3, a solution that provided the accounting functionalities they required, proved pivotal in their decision-making process, ultimately aligning their technology infrastructure with their organizational needs. “We aimed to streamline procedures as much as possible, saving time and effort to expedite our closing processes,” says Rob Smith, Chief Financial Officer at Crescent Hotels & Resorts. He continues, “With M3, properties can easily review P&Ls throughout the month, mitigating issues by the time we reach closing. This ensures swift closures without unnecessary delays while ensuring data accuracy. There isn’t a reason for us not to close fast. " There was a strong belief that M3 was the right system to propel the company to new heights. While encountering inevitable challenges along the way, Crescent remains optimistic, particularly given the enthusiasm expressed by field personnel experienced with M3. The decision to opt for M3 is grounded in its affordability and the belief that its capabilities will deliver the efficiencies and functionality they need as an organization while providing their sophisticated investors and owners with timely and accurate data.

Top 3 Core Objectives: Crescent Hotels & Resorts, facing inefficiencies with outdated software, sought a modern, user-friendly system tailored to the hospitality industry to enhance operational efficiency and real-time access. They chose M3 for its seamless integration, ease of use, and responsive support, forming a true partnership to meet the unique demands of their portfolio.
  • Consolidating Diverse Systems: Crescent Hotels & Resorts sought a unified platform to streamline processes across properties, ultimately selecting M3 for its robust accounting functionality and seamless integration. The switch to M3 has accelerated month-end closings, improved data accuracy, and provided real-time financial insights, aligning their technology with organizational goals.

  • Efficiency & Operational Excellence: Crescent Hotels & Resorts aims to achieve operational excellence and cost savings through M3’s platform, accelerating closing processes and boosting productivity. They trust M3 to provide best-in-class reporting and continuous innovation, positioning Crescent to stay ahead in the evolving hospitality industry.

  • Exceptional Support & Improvements: Crescent Hotels & Resorts has been impressed by M3’s efficient accounting software and the outstanding support provided during implementation. Despite challenges with system integration, M3’s responsive partnership, creative solutions, and effective communication have continuously met Crescent’s needs, ensuring a smooth transition and ongoing improvements.

M3

Accounting software and service to power hospitality company performance

Innovators Mentioned

M3
Scott Blair
Hotel Tech Report reached out to Scott Blair who verified this case study.

Vice President of Centralized Accounting

Crescent Hotels & Resorts

"We were drawn to the system's tailored design for hospitality, prioritizing user-friendliness and seamless deployment in the field. It's crucial that our General Managers and Directors of Finance find it accessible, straightforward, and intuitive to navigate."

Scott Blair

Vice President of Centralized Accounting

👍 Vice President of Centralized Accounting Scott Blair said that Scott Blair, Vice President of Centralized Accounting, highlighted that Crescent Hotels & Resorts chose M3 for its hospitality-focused design, emphasizing ease of use and seamless deployment for General Managers and Directors of Finance.:
  • "We were drawn to the system's tailored design for hospitality, prioritizing user-friendliness and seamless deployment in the field. It's crucial that our General Managers and Directors of Finance find it accessible, straightforward, and intuitive to navigate."

⚖️ The selection process: During their research process, Scott Blair evaluated M3's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that M3 was the best fit solution:
  • Vice President of Centralized Accounting Scott Blair said, about their decision: "M3 has exceeded my expectations, in particular with the new releases. M3 has continuously been incredibly responsive, knowledgeable, and attentive. I was genuinely impressed by the lengths they went to and how far they went out of their way to assist us."

📈 The results: M3’s commitment to customer success was demonstrated through swift updates, including cash management imports, W-9 attachments, and enhanced managerial access, all driven by Crescent's feedback. Crescent Hotels & Resorts has been impressed by M3’s responsiveness and ability to scale seamlessly with their growth, streamlining processes and accelerating month-end closings while positioning them for long-term success.
  • Improved Efficiency: M3’s updates, such as simplified cash management imports and W-9 attachments, helped Crescent streamline accounting processes, saving time and increasing operational efficiency.

  • Enhanced Responsiveness: M3's quick implementation of Crescent's feedback led to timely software updates, allowing Crescent to improve their closing processes and overall operations.

  • Scalable Growth: M3’s ability to seamlessly onboard new properties and scale with Crescent’s growth has positioned the company for long-term success and continued expansion.

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