Corendon Hotels & Resorts
Travel giant with self-owned and managed hotels
Self owned and managed hotels
Travel giant spreads its wings
Do you want to go to beautiful sun destinations affordably? Then you should book Corendon. The tour operator is known to the general public for providing vacation packages in the summer. After having its own airline, it was bound to happen. Corendon has been managing several of its own hotels since 2014. Statler BI has been involved from the start. Thanks to reports and consolidations, the Financial Team always has up-to-date insight. Practical and indispensable, given the growth ambitions of the company.
Corendon is a big name in the travel industry. Atilay Uslu, a driven entrepreneur, built a strong brand in twenty-five years. Core business are affordable sun holidays, with destinations from Turkey to Cape Verde. In 2005, Uslu founded his own airline. Commercials of alter egos Cor and Don, who promote the holidays, are burned into the retinas of many Dutch people. Statler BI has been making contributions behind the scenes for more than eight years. But... how does the Corendon name match with hotel software? Thanks in part to Emile van Nulck, Financial Controller. He works for Corendon Hotels, a separate branch of the group. “I wanted a package that was completely tailored to the hotel industry. Statler BI reports according to the American international standard (USALI) and that fits perfectly.”
The desire to acquire our hotels was a logical step, given Corendon's vision. With your own accommodations, you can facilitate the total customer journey, from a booking for the trip and stay. Entrepreneur Uslu aims for diversity, just like in the supply of summer vacations. Emile van Nulck: “With six hotels we belong to the Dutch branch of Corendon Hotels. We have a broad scope in terms of our target group. Three hotels are in Amsterdam; they are very different in character. The Village Hotel, the largest in the Benelux with 683 rooms, has its own spa and fitness.” This hotel giant also made a spectacular nod to Corendon Airlines. A real Boeing 747 is a real eye-catcher in the backyard.
The other extreme can be found in Amsterdam's Museum Quarter. There, Corendon Hotels manages the authentic College Hotel. The Hotel is housed in a historic building, which since 1894 has been used as an educational institution. The boutique hotel has forty rooms and breathes atmosphere and luxury. “Behind the scenes, we have just as much work to do as the Village Hotel, which focuses more on package deals. In the College Hotel, we deliver tailor-made work with weddings, meetings, and business events”, says the Financial Controller. For guests who like to visit familiar sunny destinations, Corendon Hotels offers three resorts in Curaçao and Ibiza. Restaurants, swimming pools, wellness, animation; you have all the facilities you need there.
“Within a minute I can run reports for a manager or auditor. At a detailed level or global overviews; everything is possible!”
The Financial Team keeps a numerical overview of all hotels and resorts. The monthly reports from Statler BI are therefore sacred to Emile van Nulck. He compares them with budgets and discusses them with the various General Managers. “It's nice that Statler BI can switch quickly and respond to all wishes regarding reports. Some people want to see global graphs, others like to go into depth with detailed figures. I now have a whole range of reports that I can facilitate with one push of a button.”
Using balance reporting optimally
In addition to these hotels, Van Nulck and his team take care of the accounting for related companies and umbrella holding companies. Statler BI is also "unleashed" on these. Since mid-2021 all balance sheets have been added. Corendon Hotels thus gets a better overview of the complete company. The cash flow, salary payments, audit costs or investments; up-to-date insight gives top management the right tools for its business operations. Marie van der Zwet, Head of Accounting, is enthusiastic about all the options. “You can consolidate optimally or separately for a group or holding. If necessary, we can easily share figures with third parties, such as a bank or an accountant. Statler BI's Forecast tool will also be of great benefit to us. Just think of the loans you take out during the year; you can immediately adjust them on the balance sheet. Emile van Nulck adds: “During the corona crisis the government introduced NOW schemes. Corendon Hotels also wanted to make use of this scheme. It's nice if you can put such amounts on the balance sheet quickly. After all, that gives a more realistic picture of personnel costs.”
“Statler is now also linking up with the accounting system in Spain. That's going to save a lot of time; consolidation will be much easier.”
For Marie van der Zwet, the short lines of communication with Statler BI are a relief. I'm used to working with large companies, where communication often takes place over several lines. Now I can just call and put my wishes on the table. For example, I wanted to click on an expense item and immediately see how the amount is structured. And I thought it would be nice to be able to add the corresponding files. The owners, Stefan and Maarten, translated this into a practical solution. They come from this world and know what a Financial Team needs. Emile van Nulck nods in agreement: “Corendon Hotels works with several currencies. On Curaçao, the accounts are kept in Aruban guilders, but top management wants reports in dollars. Statler BI ensures that only the correct data is converted. Other statistics such as hotel rooms remain out of the picture. See, that's when you're thinking along well.”
Not leaning back
Statler BI software offers more than just a set of reports. With options such as forecasting and budgeting, both in the profit and loss account and the balance sheet, it is a strong management tool. Emile van Nulck can endorse that. “With up-to-date figures in hand, you can make good policy choices, especially in terms of new investments.” And we will notice this in the coming years. Corendon Hotels are brimming with ambition, he points out. Due to Corona we were forced to put our plans on hold, but we certainly want to grow. Both in city and sun destinations as well as in a variety of hotels. It remains our vision to offer “something for everyone”. For the time being, the Financial Controller does not have time to sit back and relax. Together with colleague Marie van der Zwet, he will further develop the forecasting of the balance sheet. It will be a nice job, and we will reap all the benefits from it.