he complexities of the current
hotel market make it essential
that owners, managers and
investors have access to advanced
financial technology to help them get
the job done. It’s just as important that
they pick a fin tech platform tailored
to their needs, according to software
developers.
Companies such as M3, Reeco and
Nimble Accounting are providing focused
solutions for the hospitality industry. At
the same time, fin tech today is used for
more than just accounting. Brokers are
now using specialized software to market
properties for sale and to create feasibility
studies for new construction, conversion
and repositioning hotels.
Current advances in fin tech were
under discussion at the LendingCon
conference in Orlando in August (See p. 15
for more information on the conference).
The point of solutions provided by
companies such as Reeco, a two-year-old
startup that developed a procurement
app purpose built for hotels, is to enable
hotel owners to do more.
“We're always looking way to squeeze
more out of the leadership and the team
members at the hotel so that they can
do better things with their time, like
create value for owners and investors
by delivering great service, driving
revenues,” said James Hansen, Reeco’s
vice president of business development
efforts. “We give them the means to do
that.”
Purpose-built v.
all-purpose
One focus of modern fin tech development
is ease of use, Hansen said.
“We built a platform that mirrors very
much like your shopping or marketplace
experience at Amazon, where you as a
hotel operator, an owner or a management
company, you could go onto our platform
and pretty much type in any product,
anything you're searching for that you need
to operate your hotel on a daily, weekly or
monthly basis,” Hansen said. “Depending
on how often you place your orders, we've
really simplified that process through
AI and technology, automating a lot of
the processes for your hotel operators,
simplifying life.”
Joining Hansen at the breakout session
was Shane Middleton, channel alliances
Cover Story
20
General accounting apps
fall short, developers say
Tailor made fin tech
on the rise
www.asianhospitality.com
September 2025 | Issue 24
Financial technology is finding increasing usage by the hospitality industry, both in back-of-house operations and hotel sales transactions.