Lightstone, a national real estate investor/developer, installed Aptech’s Execuvue business intelligence system. Its current portfolio emphasizes select-services hotels, branded by Marriott, Hilton, IHG, and Starwood. Lightstone needed to automate property data-gathering and analysis for 32 properties.
“We buy properties to grow our portfolio and we were building new Moxy hotels,” said Marc Dober, VP, asset management, hospitality at The Lightstone Group. “As we grew, it became more difficult to oversee our operation and asset performance.”
Execuvue enables next-day performance reporting to Lightstone’s investors and management.
“We wanted a robust hotel software system to automate property information gathering and analysis, one that could provide next-day performance reporting to Lightstone’s investors and management,” Dober said.
Execuvue automatically integrates data from Lightstone’s Marriott, Hilton, IHG, and other properties daily and creates custom flash reports to save time. Lightstone also uses Execuvue for financial analytics from P&Ls.
Lightstone optimizes market strategies by comparing STR STAR Reports and property performance data. In addition, Lightstone uses Execuvue to collect Smith Travel Research STAR report information on regional market dynamics and correlate it with property performance data to optimize market strategies.
Execuvue enables faster goal achievement for hotel companies of any size. Execuvue is Aptech’s IBM Cognos-based ASP enterprise hospitality business intelligence hotel software application that enables faster goal achievement for large and small hotel companies.
Lightstone puts its Execuvue property data to work across a number of financial and business processes. “We often develop underwriting pro forma performance analysis reports on properties we are evaluating for investment,” Dober said. “We run several different Execuvue reports on our new properties.”
Aptech hosts Lightstone’s Execuvue system and data from its secure network operations center. Remote hosting greatly reduces Lightstone’s total system costs. It eliminates the need for additional hardware and data servers and their associated corporate and hotel software.