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Financial Management

PHM's proprietary “Parallel Accounting System” (PAS) has streamlined hotel financial management for hoteliers across the country. This innovative technology is based on the M3 accounting, payroll and general ledger software package. The PAS closely monitors the financial health of the hotel with cash as the primary consideration.

Parallel accounting is a two-way street between the hotel and our corporate office that maximizes transparency and productive communication between Packard, the hotel, and the owners. Financial activity is reconciled daily between the hotel and our in house accountants to ensure that all eyes are continually reviewing data for accuracy and timeliness across all financial transactions. Our turnkey financial management services include:

  • Daily revenue reports
  • Web-based software with real time income and expense statistics
  • Cash flow analysis
  • Accounts receivable oversight
  • Accounts payable that is entered on-property, then posted and paid at the corporate office
  • Strong fiscal management from annual budgets to detailed, concise and on-time financial statements