FRS 15 - Radisson Edwardian deploys RAM

Leading hotel group implements a RAM solution to meet new reporting requirements under FRS 15

Radisson Edwardian Hotels, the London landmark hotel group, has selected RAM’s specialist fixed asset management solution as it adopts new reporting requirements for property under FRS15.

Radisson Edwardian is a longstanding partner of the Carlson Group, one of the world's largest and most technologically integrated leisure and entertainment businesses. Within its portfolio, it includes over 400 hotels in 53 countries. It is perhaps best known for its flagship Radisson Heathrow which was recently awarded the title 'The Best Airport Hotel in the World' by readers of Business Traveller Magazine.

An on-going programme of extensive refurbishment and the continued investment in maintenance of the group's 10 London hotels, including 'The Kenilworth', 'The Marlborough', 'The Grafton' and the luxurious five star 'Hampshire', needs to be reflected accurately on the balance sheet. With the advent of FRS15, the group looked to adopt a specialist system to provide more detailed reports.

“The move to incorporate FRS15 prompted us to look for a specialist solution,” said Vijay Wason, financial controller at Radisson Edwardian. “The main reason for this was the sheer volume of records. The cost detail involved meant that it had become an enduring task updating and amending records on a spreadsheet. We also wanted a system that could be integrated with our other business applications, providing a more professional set of reports for our property teams.”

“We researched the market and found that RAM was the supplier most people recommended,” added Wason. “At the initial demonstration I was immediately impressed with its ease of use and the system's practical approach to managing property assets.”

“It was evident that RAM had a great deal of experience in the leisure industry and it certainly has a wide variety of high profile leisure customers. What impressed me most, however, was the fact that they could demonstrate a working interface to our 'DREAM' general ledger application.”

“The RAM system, which was implemented over the summer, has made a huge impact on the management of the group's assets,” concluded Wason. “We have saved a number of man days per month by moving to the RAM system.”

In addition, Radisson will be implementing RAM's Capital Project Control module to help manage future refurbishment and development projects throughout the UK hotel chain.

“In terms of the leisure industry, the last twelve months have been very successful,” said Karen Conneely, RAM’s marketing manager. “Our client base has virtually doubled.”