NEW YORK--(BUSINESS WIRE)--Carats & Cake today announced the launch of ROH, the first purpose-built revenue optimization platform for hospitality groups. Developed by industry experts, ROH’s software solutions drive revenue growth, margin expansion, and operational efficiencies for the largest asset owners, hotel groups, and property operators. Further the platform provides industry-leading visibility across an organization and multiple assets. Sales and finance teams benefit from intuitive, real-time dashboards from which they can manage contracts, invoicing, payments, and more. The data accessible via ROH enables the leading hospitality brands in the world to take informed actions that materially impact the bottom line.
“What we’ve learned over the past decade working with thousands of the most innovative properties is that there is a massive opportunity to provide them with standardization and transparency. Today, many properties under the banners of leading hospitality brands are actually operated by incredible groups or asset owners. This industry evolution creates unique needs for software that enables operational efficiencies and increases conversion and revenue across multi-property portfolios. Meeting the needs of the hospitality industry is a fundamentally larger business for us that warrants being center stage,” said Jess Conroy, Founder and CEO, ROH. “ROH’s end-to-end revenue optimization platform is now positioned to address the needs of asset owners and property operators as they seek efficiencies across marketing, sales, and finance as well as access to real-time intelligence to rapidly improve conversion rates. We’re grateful to the brand we’ve built in Carats & Cake and will continue to engage its 100 million strong audience as a marketing channel for businesses that serve the events industry at large.”
Coinciding with the announcement of ROH, the company is expanding its multi-team platform offerings to include a new finance-specific dashboard that, for the first time, gives finance team members real-time reconciliation capabilities. In one place, finance team members can see invoice status details including if invoices have been opened, payment due dates, paid or unpaid details, and a proprietary invoices-at-risk analysis. Additionally, ROH’s platform provides details on any issues around refunds and disputes as well as manages those infrequent occurrences. These real-time analytics enable finance to identify and collaborate with the sales teams on any potential problems before they occur, versus waiting until the end of each month to retroactively assess issues and begin the manual process of chasing payments in collaboration with sales.
The ROH revenue optimization platform is feature-rich including:
- Invoice creation & scheduling
- Real-time payment & contract notifications
- Mobile-friendly, branded invoicing & payments
- Payment type optimization (Credit Card / ACH / e-check)
- PCI DSS Level 1 compliance with card on file functionality
- Standardization across all small & large group sales
- Streamlined integration with Property Management Solutions (PMS)
- Custom performance dashboards for finance & sales
Initial deployments of the ROH revenue optimization platform have already delivered impressive results:
- Average 15% increase in event revenue
- 81% of payments convert faster
- 4.5x ROI
"1Sharpe Ventures invested in Jess and her team due to their expertise in identifying and solving pain points in world-renowned properties with industry-specific digital solutions. With successful adoption among leading asset owners, the team has expanded beyond the events market,” said Gregor Watson, Co-Founder, 1Sharpe Ventures. “ROH, the latest project from Jess, aims to address a massive opportunity in the hospitality industry. We're thrilled to support the platform's growth into these rapidly expanding brands with tailored digital solutions."
About ROH
ROH powers the future of hospitality. As a rapidly evolving proptech company, ROH’s purpose-built revenue optimization platform drives conversions, increases revenue, and enables real collaboration for the largest asset owners, hotel groups, and property operators that manage over $500B in annual revenue. Developed by industry leaders and born out of the demand revealed through its subsidiary Carats & Cake, ROH has over a decade of trust with best-in-class businesses including Westin, Loews, Marriott, Crescent, Auberge, and Noble House. Backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, ROH’s financial operating system enables forward-thinking businesses in the hospitality industry to optimize sales operations, drive strong customer experiences, and increase revenue.
