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FOR IMMEDIATE RELEASE:
April 4, 2003
THARALDSON COMMUNICATIONS AND STATABILITY INTRODUCE “IRIS” INTERNET REPORTING INFORMATION SYSTEM
FARGO - After 15 months of research and development, the alliance partnership of Tharaldson Communications and Statability is ready to make their Internet Reporting Information System “IRIS” available to the lodging industry. “IRIS” is a web based financial management system modeled after Tharaldson Lodging’s proprietary system.
Why did Tharaldson develop this process back in 2000? Tharaldson Lodging knew early in 2000 that they faced many challenges getting timely information from the properties to the corporate office. An internal system was developed that equipped their General Managers, Area Directors and Regional Vice Presidents with the necessary information to produce better results for their company.
“We are excited to tell our story”, said founder Gary Tharaldson. “2001-2002 was an obvious challenge for our industry, while most companies struggled; Tharaldson Lodging had one of our best two-year operating periods. During this business cycle, our information system was instrumental in enabling our hotel portfolio to increase Gross House Profit while Rev Par was decreasing across the industry.”
"Every multi-unit lodging company struggles with hotel GM’s who do not understand the financial side of their business and the importance of a timely conversion of night audit reports into financial statements," says Curtis Olien, Vice President at Tharaldson Communications.
Olien formed a group to find the right technology partner who could develop a market-ready system modeled after Tharaldson's proprietary web based financial management system. "We feel management is most effective with accurate “REAL TIME" information. Timely reporting is the key to improved business decisions, and we feel Statability was the right partner to help us develop and deliver the IRIS reporting system to the lodging market.”
“IRIS works as a real-time executive reporting system, for any type or size hotel management company. IRIS will allow managers at the hotel, regional, and corporate level see and use their information in order to make better and faster business decisions," said Statability Co-founder Michael Wohl. "This will allow all managers in the organization, regardless of the brand they manage, or the size of their corporate support staff, to access their information easier and more cost-effectively than they were doing in the past. With the Tharaldson system as the model we were able to develop a reporting product based on a proven process. This has created a very affordable means for any hotel company, regardless of size or location, to use the web for their own distinct information system.”
Tharaldson Communications Inc. offers services to the hospitality industry nationwide, managing telecommunications for 1500+ hotels and 98,000 rooms. For more information about Tharaldson Communications and the web-based reporting products they offer, call 888-675-9922, email tmurphy@tharaldson.com, or visit the company website at www.tharaldson-communications.com. Tharaldson Property Management, the largest independent hotel property management company in the US, operating 349 hotels in 33 states
Statability, headquartered in Atlanta with offices in Minneapolis and Sydney, Australia, was founded in 1999. Clients include Marriott International, Starwood Hotels and Resorts, and Candlewood Suites. Statability partners include Databeacon, No Barriers, and Trend FX. For more information about Statability, call 952-322-5865, e-mail info@statability.com or visit the company website at www.statability.com.