Industry: Real Estate, Hotels & Hospitality
Scope: Acquisition Integration–Business and Systems Integration
To further diversify its vast real estate portfolio, this CTS client expanded into a new segment; hotels, via acquisition of 3 major portfolios within an 8-month period. With acquired hotel assets of over $2.5 billion, this client needed specific hotel accounting experience to manage this back office integration and standardization.
As Project Manager, CTS provided hands-on hotel and hospitality industry expertise to manage the acquisition integration onto its corporate platform. In addition to leveraging economies of scale, CTS led the efforts to develop new business processes, along with new reporting tools and standard operating procedures. Deploying CTS staff with hands-on financial systems experience, the legacy Timberline financial system was seamlessly converted to JD Edwards.
Throughout the transition, until the client was able to hire on permanent staff, CTS provided interim accounting and financial reporting staff to support these new operations.
Other CTS Services/Solution:
Financial Reporting and Systems
- SEC reporting
- Design new reporting tools
- Implement Content Management System (iManage)
- Sales & use tax dispute investigation and resolution
- Interim staffing-Federal, state & local income tax assistance
Asset Management and Joint Ventures
- Develop standard processes to monitor investments
- Partner and lender reporting
- Litigation support
Corporate Governance and Compliance – SOX 404
- Risk assessment
- Develop standard tools/templates
- Document key controls
- Perform testing
- Remediation planning
- Status reporting and Audit Committee updates