NEW YORK--(BUSINESS WIRE)--ROH, the first digital platform tackling the $4 trillion dollar opportunity of global hospitality payment volume, today announced that Inn at Rancho Santa Fe, an Evolution Hospitality property, has chosen its solution to power contracting, invoicing, and payments. Currently representing over 60 percent of hotels’ payment volume, contract-driven revenue - encompassing everything from meetings and events to corporate room blocks and food and beverage - is a massive opportunity for growth in the industry as hotel operators seek technology solutions that enable them to do more with less. Features of ROH that ensure the platform eases operational friction include card-on-file capabilities and auto-payment for corporations and individuals executing contracts at a property.
“We ended 2023 with incredible traction across hotel operating companies, asset owners, and brands as corporate bookings surged back. Each quarter properties are increasing the total payments volume they run through ROH by over 50 percent as they - for the first time - gain visibility across sales and finance,” said Jess Conroy, CEO and Founder, ROH. “Hotel operations meaningfully benefit from event-associated revenue being run through ROH given cash flow is paramount as property utilization strongly rebounds. That revenue - everything not processed at the front desk - is a growing percent of total industry revenue as hotels continue to look for new payment technologies to improve margins and provide a best in class guest experience. The Inn at Rancho Santa Fe has recently undergone a property revitalization and - along with the beauty of the property - they also smartly rethought their systems and selected ROH for the visibility, accountability, and growth we provide.”
The Inn at Rancho Santa Fe went live with ROH in January 2024. The property is part of Evolution Hospitality, a hotel operating company that represents over 90 lifestyle hotels throughout North America, representing hundreds of millions of dollars in gross payment volume. The property is in good company as a ROH client, which counts the Loews Hotels & Resorts portfolio amongst its earliest users alongside dozens of properties across industry-leading brands. ROH clients typically start with pilot programs that cover up to ten properties, with meaningful portfolio expansion stemming from the operational success of those pilots. Success metrics can include average time-to-payment from date of invoice (with ROH, average of 1.76 days) and percent of invoices paid early (with ROH, average of 80 percent). The platform overall drives improved efficiency across existing teams, a reduction in required headcount, and a significant improvement to aging AR.
“It’s estimated that the global hospitality industry does roughly five times the amount of payments of the global restaurant industry and yet, due to the uniquely complex ownership and operational structures of hotels, there remains a technology opportunity to empower hotels to combat rising costs and labor shortages. The hospitality industry can’t remain reliant on manual processes; we’ve built ROH for the explicit purpose of modernizing the very part of hotel operations and payments that represent a significant portion of their revenue,” continued Conroy.
If you’re interested in learning more about ROH, or discussing a pilot with select properties, please email: sales@roh.co
About ROH
ROH powers hospitality. As a rapidly expanding vertical SaaS platform, ROH drives conversions, increases revenue, and delivers data and insights to the largest asset owners, hotel groups, and property operators that collectively manage over $500B in annual revenue. Developed by industry leaders, ROH has established relationships with best-in-class businesses including Loews Hotels & Resorts, Crescent Hotels & Resorts, and Concord Hospitality. Backed by 1Sharpe Ventures, Founders Fund, Acrew Capital, Moore Specialty Credit, Correlation Ventures, SilverCircle, GMO VenturePartners, and others, ROH’s quickly becoming the system of record for hospitality businesses as they optimize sales and finance operations and access the platform’s proprietary property, portfolio, and market-level data.
