6.20.2023
Good things come in threes. For Newport Hospitality Group (NHG), this idiom is proven in its recent deployment of Execuvue, Targetvue, and PVNG – three innovative financial-management solutions from Aptech. This trifecta of accounting, business intelligence, and budgeting/forecasting software is now live at 45 NHG managed hotels, representing Hilton, Marriott, Hyatt, Choice, Wyndham and Intercontinental Hotel Group brands, as well as independents. Aptech was chosen as the sole provider of all things financial by NHG based on its 50 years of service and its ability to apply technology to solve business problems and increase profitability for owners.
“Aptech’s financial-management products enable us to serve as a nimble, proactive management partner that delivers results,” said Andrew Carey, NHG Chief Executive Officer. “Exactly one year ago we adopted Aptech’s cloud-based PVNG enterprise accounting system. It has enabled us to improve our decision making in cost effective ways. Our team is now extremely efficient thanks to Aptech’s ability to integrate multiple franchise solutions and AP systems. The process of connecting multiple teams and technologies can be tricky. It requires people to be willing to work together and problem solve on the fly. Aptech has proven to be a strong hospitality accounting platform with equally good support. Our CFO is very happy with PVNG; it has been a big step forward.”
Carey said NHG chose to add Aptech’s Targetvue budgeting and forecasting solution and its Execuvue business intelligence solution to have only one central vendor to run all financials. Targetvue provides NHG’s operations team with a clear financial picture. It consolidates reports, identifies trends, and eliminates the maintenance and distribution of Excel spreadsheets throughout the organization. Automated forecast snapshots offer users ad-hoc capabilities for previous and future performance projections.
Execuvue, an IBM Cognos-based ASP BI application, features a dashboard platform that delivers stunning images of financial and operational data that NHG teams can act upon. The drag-and-drop environment creates stunning visualizations based on data entered. Leveraging AI-powered analytics, Execuvue is helping NHG make smarter business decisions and respond to commands, such as “Show Me Room Revenues by State and by Property.” The AI tool links relevant data elements (number of rooms rented, ADR, RevPAR, occupancy, rooms out of order, etc.) with a list of properties or brands to analyze the information in visually compelling ways. It also configures data regionally, giving NHG a performance snapshot portfolio wide, as well as by region, brand, and property.
“We are extremely happy with Execuvue and Targetvue,” Carey said. “Both tools give us exactly what we need to adjust our spending and respond more proactively to trends in the market. Execuvue provides more timely and better data to make decisions about our operations across the portfolio, and it identifies when and where things aren’t performing to plan. Targetvue is more retrospective and single property focused, enabling each hotel to have more control over its daily operations.”
Next week, Aptech will showcase its PVNG, Execuvue, and Targetvue solutions in Booth 1301 at HITEC® Toronto, to be held June 26 to 29 at the Metro Toronto Convention Centre. Produced by Hospitality Financial and Technology Professionals (HFTP®), HITEC is the premier tradeshow for hotel accounting professionals looking for automated finance solutions.
“When shopping for financial software, it’s important that attendees look at solution providers with agility and flexibility,” Carey said. “Make sure the vendor accommodates your hotel company’s specific needs. People will promise you the world – especially if you have a large portfolio. Ask about the deployment team and ensure they are a good fit for your operating team; you must be on the same page to meet end goals. Implementing new technology is always challenging. If you select a partner, ensure you get what you are promised.”
Jill Wilder, Aptech Vice President, had this to say about the ongoing NHG relationship: “We are thrilled that NHG is so pleased with our full suite of products. When managing a portfolio of 45 hotels, driving topline profits and bottom-line performance is crucial. Together, we make a strong team, each devoted to meeting the needs of our customers. We look forward to growing alongside Newport for many years to come.”
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