Overview
When you are a large group that owns and operates luxury hotels nationwide, you are going to run into some speedbumps when it comes to managing your entities. With over four decades of experience this particular group is currently operating hotels across three states with ongoing construction projects in 8 states. This year, they will have over a dozen new projects in the pipeline across the United States.
As the company continues to grow, their entity data does as well. With each new hotel, comes many different moving parts. The hotel group needed a secure way to track a large database of documents, banking information, and owners affiliated with each hotel.
Tracking Ownership & Finances
A General Counsel member knew he needed a better way to manage the multiple entities affiliated with the company; having multiple sources to manage was affecting their efficiency. As a hotel development business, their ownership structures were constantly changing. Their general counsel needed a resource that could keep up with the constant changes.
“I needed a clean view of all our information. Where everything that is affiliated with an entity was in one place.”
–General Counsel Member
During their projects, when funds were coming in, they needed a secure place to store bank statements and associate them with an entity. Their finance department was looking for an easier way to be able to get entity information from the general counsel. Both of them needed to have access to the information.
The Results
Both parties are now able to have one single source of accurate data when it comes to managing their 40 entities in every aspect. With EntityKeeper, they have the ability to quickly view organizational charts and see detailed information on each of their entities.
When it comes time for reporting on entities, it is easy for any member to give their team access to EntityKeeper so that they can easily pull the documents and information in real-time.
EntityKeeper has allowed the team to work more efficiently to close new deals or start new projects.
