Dimension Development, a hospitality management group founded in Louisiana, has steadily and effectively grown its portfolio over the last 48 years staying ahead of the curve. Through strategic hotel technology, Dimension is able to streamline their operations and make faster tactical decisions about their business. Today, their expansive portfolio makes up over 80 hotels across 16 states.
Dimension’s success is rooted in their technology-focused business and processes that have expanded with their climbing number of managed properties. Dimension has implemented numerous time-saving technology solutions, but one critical tool in Dimension’s arsenal is their robust budgeting and forecasting capabilities found in Broadvine’s Planning tool.
“97% forecast accuracy provides hotel investors with a level of confidence and trust unheard of at other management companies. With this level of accuracy, we are empowered to be extremely aggressive with our decision making. This is how Dimension is able to own the rebound.”– Matthew Schupach
Head of Analytics, Dimension Development
In 2016, Dimension partnered with Broadvine to actively create, track, and update their budgets while simultaneously forecasting in real-time. Hotel budgeting was traditionally a static process, allowing little room for unexpected changes. By using a dynamic forecast, Dimension provides live updates to their business accounts.
An accurate forecast allows Dimension to get in front of upside potential and have their finger on the pulse of what is coming next to proactively make changes and adapt. Over the course of this partnership, Dimension has grown their portfolio from 50 to over 80 hotels, and Broadvine has scaled with their growing team to continue to meet their ever-evolving needs.
Broadvine’s Planning application takes the struggle out of using multiple spreadsheets and moves the budget and forecast process to a web-based application providing security, standardization and data integrity. The budget & forecast plans are managed collaboratively across departments as well as between the property and corporate office. Through the use of Broadvine’s Planning application, Dimension is able to manage complex revenue segmentations, leverage driver-based expenses and protects items from inadvertent revisions and incorrect manual calculations.
Broadvine’s tools allow Dimension to accurately budget and forecast, eliminating surprises when the monthly financial report is delivered. By calculating, knowing, and communicating in advance, a win-win scenario emerges where both the owner and operator of the portfolio are satisfied. The Broadvine software was crafted and perfected by dedicated industry experts. These experts have a deep understanding of what the hospitality business entails, which is why Dimension has trusted Broadvine for over 6 years and why Dimension continues to be an award-winning and top-tier hotel management group, year after year.
“We are thankful for customers like Dimension Development who have grown with us over the years,” says Broadvine’s CEO Lexton Raleigh, “They use our Planning tool to quickly and accurately respond to any changes in the industry and help them navigate the future. With our recent acquisition by myDigitalOffice, we’re thrilled to offer Dimension even more revenue-driving technology and enhanced customer support. The scalability, integration, and innovation of Broadvine and myDigitalOffice is what sets our company — and companies like Dimension who use our tools — apart from other providers and we are so excited for what the future holds.”
About Broadvine: (now part of myDigitalOffice)
Broadvine delivers financial performance management software to help hotel management companies and ownership groups increase profitability and operational efficiencies across their portfolio. Broadvine’s SaaS application consists of Reporting, Forecasting and Labor modules – providing a robust and flexible platform. Broadvine is utilized by over 30 management companies and almost 500 properties worldwide. For more information, visit www.broadvine.com.
Dimension Development is a full-service, quality-driven hotel management company. Founded over 48 years ago in Natchitoches, Louisiana, with three hotels, Dimension has grown to a national presence of over 80 properties within the industry’s leading brands, including Marriott, Hilton, Hyatt, and IHG. They develop, acquire, and manage full-service, resort, all-suite, and focus-service hotels across the United States. Dimension closely monitors property performance, product quality, and service excellence, which translates into higher levels of guest satisfaction and financial results. To learn more, visit: www.dimdev.com.