Fairmas GmbH, headquartered in Berlin, specializes in the development of financial planning, management reporting and controlling software solutions specifically tailored to the needs and distinct features of the hotel sector.
In an environment with continuously rising costs, increasing competition, as well as a quickly changing demand, the founders of Fairmas who were former hotel professionals and top executives have recognized ahead the growing importance and potential of a tailor-made financial planning for the hotel’s long-term success.
Since its foundation in 2003, a team of 50 hotel and IT specialists work on the standardization and optimization of the financial planning process by means of customized software solutions catered to the requirements of hotels.
Over 11,000 users in more than 4,000 hotels worldwide are currently working with the innovative software solutions of Fairmas – from a small, privately owned hotel up to leisure hotels and large global operating chains.
For more than 15 years, Fairmas is a strong partner for the hospitality industry with a growing strength in the international scene.
The web-based financial planning and management reporting tool FairPlanner online supports the budgeting and forecasting process of the hotel management. The special feature is that the sales and cost planning with FairPlanner online is based on the company-specific P&L chart of accounts (e.g. USALI*). This ensures the cross-border comparability of the results – an important necessity for hotel chains and hotel investors operating throughout the world.
The add-on module FairChain is used for the consolidation of several properties, thus providing decision-relevant information at the corporate level.
The add-on module FairPayroll extends FairPlanner online by automatically calculating the function, wages and labor costs, productivity and bonus computation based on the manning schedule.
*Disclaimer: Hospitality Financial and Technology Professionals (HFTP®) is the official entity who owns the copyright to the USALI. The copyright was previously owned by the Hotel Association of New York City. Revisions to the USALI are overseen by the Financial Management Committee (FMC) of the American Hotel & Lodging Association (AHLA), a majority of which are also HFTP members. Fairmas only uses the term “USALI” to refer to the existing industry standard as one example from several, possible, customer-specific P&L account frameworks.
With the Daily Benchmarking product that also includes Fairmas Trendbarometer within it, Fairmas customers receive cumulative hotel performance figures from their competitors at the click of a button, as well as a forecast of the changes in the coming four months compared to the previous year. The method used is certified by the German Federal Cartel Office.
Apart from the wide array of system and web-based planning tools, Fairmas also develops individual process solutions adapted to meeting specific needs and requirements unique to each hotel or company.
Further information on the software solutions of Fairmas GmbH can be found at www.fairmas.com.