The Company
Regal Entertainment manages a large theater portfolio across the United States, the United Kingdom and other international markets. Its lease administration responsibilities extend beyond real estate to equipment, vehicle leases and other assets that require lease accounting review.
The company also manages a wide range of payment obligations, including rent, common area maintenance, taxes and percentage rent.
The Challenge
Managing leases across a geographically dispersed portfolio requires accurate data, reliable reporting and oversight of numerous payment types. Regal also needed to support ASC 842 reporting requirements while navigating major business changes, including an acquisition, the pandemic, bankruptcy and post-pandemic restructuring.
At the same time, some lease-related activities continued to rely on spreadsheets and manual processes.
Regal needed a solution that could:
- Centralize lease and payment information across its portfolio
- Support ASC 842 and U.S. GAAP reporting requirements
- Reduce reliance on manual reporting and spreadsheet-based processes
The Solution
Regal implemented Accruent Lucernex as a centralized platform for lease and payment management. The system brings together lease, payment, vendor, utility and maintenance information while supporting accounting and reporting requirements.
"Lucernex is very user friendly. It allows you to key in the information that you need to get the payments into the system, to then take those payments and feed the schedules that you need. We also have automated reports, so we don't have to do that manually in Excel." – Kim Sikes, director of global leasing
Today, Regal uses Lucernex to:
- Centralize real estate and equipment lease information
- Manage rent, common area maintenance, taxes and other payment obligations
- Support ASC 842 compliance and financial reporting
- Connect lease and payment information with its ERP environment
The company has also expanded its use of Lucernex beyond traditional real estate leases to include equipment and vehicle leases across international operations.
The Results
Expanding Beyond Compliance
What began as a solution for lease management and compliance has evolved into a broader lease administration platform supporting multiple asset types and geographies.
Today, Lucernex serves as a central source of lease information across Regal's real estate, equipment and international lease portfolios.
Greater Visibility Across Global Operations
Regal has completed its United Kingdom deployment of Lucernex, with U.S. and UK operations now using the platform for lease management, reporting, record-keeping and payment management.
The company is also working to bring additional international locations into Lucernex to reduce manual processes and create a more consistent approach to lease administration worldwide.
Download the Full Case Study
See how Regal Entertainment uses Accruent Lucernex to improve lease reporting, strengthen visibility and support lease management across a global portfolio. In this case study, you'll learn:
- How Regal centralized lease and payment management across its operations
- How Lucernex supports ASC 842 reporting and accounting requirements
- How the company expanded lease management to include equipment, vehicle and international leases
Ready to Improve Lease Visibility Across Your Organization?
See how Accruent Lucernex can help your organization centralize lease information, streamline reporting and support complex lease accounting requirements. Explore Accruent Lucernex to learn how organizations like Regal are improving lease management across real estate, equipment and global operations.
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