The Lanesborough in London Selects priZem Inc.
Budgeting and Forecasting Application
NEW YORK, NY, November 16, 2006. priZem inc., a provider of hospitality budget/forecast, daily revenue, labor and asset portfolio management software solutions, is pleased to announce that The Lanesborough, a European landmark of The St Regis Collection, has chosen to standardize its budgeting and forecasting process by using the priZem's database budgeting/forecasting solution instead of its current process.
"Budget Intelligence will provide us with the opportunity to capitalize on the benefits of a true web based, database application where we can involve all the management team to prepare the annual budget and monthly forecasts. With Budget Intelligence, we will be updating our next year budget database at the end of each month by simply uploading a monthly trial balance. Also as our forecast will be located in the same database, it will allow us to track forecast accuracy," stated Sue Bahia, Director of Finance at The Lanesborough. "Not only will be saving processing time; but, we will be becoming more efficient."
We are pleased that The Lanesborough has selected Budget Intelligence as its budgeting and forecasting standard," stated Paul West, President and CEO of priZem. "Our reliable web based, database, application that was developed by hotel financial operators for the hospitality industry, accommodates any brand or property size and initiates a process that can help hotel management to spend more time analyzing the data instead of manually keying numbers or re-entering historical data."
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
