Sunnyvale, Calif. – Russell Partnership Technology (RPT) recently announced a toolkit to assist hospitality businesses in planning their recovery strategies. The toolkit is built around a forecasting application that enables users to create multiple forecast scenarios quickly and easily. Forecasts can be built in as little as 30 minutes and will allow users to build full profit and loss statements, along with cash flow reports, for a two-year period into the future. These reports can then be exported and used for budgeting, planning, and strategizing purposes.
“Now is the ideal time to bring together the industry knowledge and powerful technology that we possess to create this toolkit to aid hospitality recovery,” said Peter Russell, operations director for RPT, which is part of the Russell Partnership Collection, which has been in the world of hospitality and food consultancy for more than 30 years.
Fran Brasseux, RPT associate, added, “Forecast accuracy is vital for profitability and growth. We developed the Hotel Forecast Toolkit to assist the industry with recovery and made it adaptable to hotels and businesses of all sizes.”
For guidance in building the optimal tool, RPT turned to hotel operators, including David Bowd, founder and CEO of SALT Hotels, as well as Bjorn Hanson, an industry consultant, as advisors. The toolkit—built with hotels in mind but applicable to a range of businesses—contains supporting information to guide users through the process of producing the reports they require to build success now and into the future.