M3 Benefits Luminous Hotel Management Through the Power of It's Top Rated Hotel Accounting Solution

OPERATIONS

With a portfolio of four hotels and growing, Luminous Hotel Management (LHM) is a full-service hotel management company with properties in Virginia and West Virginia. Currently managing Wyndham and IHG brands, LHM is responsible for asset and revenue management strategies, operations, sales and marketing, accounting and finance, financial reporting, and tax planning for its portfolio of hotels.

Why it matters: Many hotels experience back-office issues that put a strain on management teams. The right hospitality-specific accounting solution can help mitigate many issues, including data validation, manual input, non-integrated financial systems, and cash management.

After over a decade of partnership with M3, LHM chose to implement a different accounting and reporting solution in 2021. However, following the implementation of the other software, Jadhav noticed several inefficiencies. For example, the new software provider could not scale as the company grew, had limited integrations with PMS systems, cumbersome cash management and reconciliations, and did not offer customized reporting.

Top 3 Core Objectives: After over a decade of partnership with M3, LHM chose to implement a different accounting and reporting solution in 2021. However, following the implementation of the other software, Jadhav noticed several inefficiencies. For example, the new software provider could not scale as the company grew, had limited integrations with PMS systems, cumbersome cash management and reconciliations, and did not offer customized reporting.

Improved Invoice Processes: The invoice uploading method in the new software required LHM to scan invoices into the computer system prior to being uploaded into the software, which was an extra step from what M3 offered.
Payment Processing Improvements: Jadhav was frustrated with payment processing in the new platform, specifically manual check writing. LHM had a critical need to process ACH payments to further streamline their AP process.
Scalability: As LHM was adding properties, they realized they needed to reevaluate the company's accounting needs.

Innovators Mentioned

James Fair

Co-Founder

Baymont by Wyndham Warrenton

Neha Jadhav

Co-Founder

Baymont by Wyndham Warrenton

"I can already see a change in our day-to-day operations returning to M3; that is where the impact comes in, from a macro level, and how we operate. It is no doubt that M3 is more streamlined, more efficient, and is positively driving our bottom line"

James Fair

Co-Founder

👍 Co-Founder James Fair said that Luminous Hotel Management found:

"I can already see a change in our day-to-day operations returning to M3; that is where the impact comes in, from a macro level, and how we operate. It is no doubt that M3 is more streamlined, more efficient, and is positively driving our bottom line"

⚖️ The selection process: During their research process, Neha Jadhav evaluated M3's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that M3 was the best fit solution:

Co-Founder Neha Jadhav said, about their decision: "Deciding to make the switch back to M3's Accounting Core has given us the control and ability to tailor the software to our company's needs. Creating and modifying customized reports, running consolidated reports across any brand or region, scanning invoices quickly, and easily referencing those invoices have helped us become more organized and streamlined in our daily accounting practices. Customizable reports have great utility and impact on hotel operations and tax planning. In addition, every time we have had a support ticket, there is a 24-hour response and a strong follow-through daily, including weekends, given that hotel operations are critical every day of the week."

📈 The results: Through LHM's return to M3, their team has been able to have the ease of use, functionality, and scalability that they desired. Their team is no longer suffering from duplicating efforts of invoice uploading or the potential of invoices being posted to the incorrect hotel, which has resulted in LHM's aging reports to now be accurate, allowing them to have actionable data.

A benefiting feature that M3 was able to offer LHM through the use of Accounting Core, was the ability for invoices to be scanned directly into the platform.
Using M3's e-Pay, LHM no longer wastes human capital cutting checks, and there is no longer worry about checks being applied to incorrect invoices and accounts.
Partnering with the industry's top-rated accounting and reporting solution, built for hoteliers by hoteliers, LHM can now see time and labor savings through the power of M3's Accounting Core.

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