Carnus Systems' software incorporates a state-of-the-art artificial
intelligence
forecasting engine uniquely designed for the hospitality industry to
provide the highest possible accuracy available.
SIMPLE USER INTERFACE
WEB-BASED (ASP)
Carnus software is web-based, yielding unlimited portability. As such, there is no up-front cost, no software to install, and no hardware to purchase.
"Oxford Lodging sells Pan Pacific hotel for double what it paid" - San Francisco Business Times, March 3, 2006.
The Pan Pacific San Francisco is a AAA four diamond luxury hotel located in extravegant Union Square. With 338 luxury rooms and minutes from Downtown San Francisco, the Moscone Convention Center, Embarcadero Center, and Chinatown, the Pan Pacific is one of the most well-recognized hotels in California.
Oxford Lodging, in a partnership with Goldman Sachs, acquired the Pan Pacific Hotel in the fall of 2003 for $45 million, a time when the property was losing $500,000 per year.
After the acquisition, Oxford Lodging invested an additional $4 million into hotel improvements. As part of their effort to maximize profits, Oxford Lodging contracted Carnus Systems in 2005 to reduce unneccessary labor costs incurred from inaccurate forecasts and scheduling. Oxford Lodging agreed to test our product on their Pan Pacific Hotel in San Francisco, where their restaurant and room service covers fluctuated dramatically everyday, thus making proper scheduling and labor cost control very challenging.
Within two months following implementation of the Carnus Forecaster, the system achieved an average 7-day daily cover forecasting accuracy of 85% to 90%! This result was significantly more accurate than human prediction. According to the GM and managers at the hotel, there was a reduction in scheduling time from 3-5 hours to a mere 1 minute by using the software.
By implementing the Carnus Forecaster, the Food and Beverage department is expected to save 4% of their annual labor expense during the first year as a direct result of the software. Furthermore, the Pan Pacific is currently on track to yield a $500,000 profit by the end of the 2006 year.
In March of 2006, Oxford Lodging sold the Pan Pacific to Ashford Hospitality Trust for $95 million, over twice what it paid just three years ago! This large return was the result of enchancing operational efficiency and maximizing profits at the property. The Carnus Forecaster was the perfect tool to meet Oxford Lodging's need.