Newport Hospitality Group selects Aptech for financial processes

Newport Hospitality Group has deployed Execuvue, Targetvue and PVNG—three financial-management solutions from Aptech. The trifecta of accounting, business intelligence and budgeting/forecasting software is active at 45 NHG-managed hotels representing Hilton, Marriott, Hyatt, Choice, Wyndham and IHG brands as well as independents. 

“Aptech’s financial-management products enable us to serve as a nimble, proactive management partner that delivers results,” Andrew Carey, NHG CEO, said in a statement. “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 the NHG team 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 financial picture by consolidating reports, identifying trends and eliminating the maintenance and distribution of Excel spreadsheets throughout the organization. Automated forecast snapshots provide ad-hoc capabilities for previous and future performance projections. 

Execuvue, an IBM Cognos-based ASP BI application, has a dashboard platform that delivers images of financial and operational data that NHG teams can act upon. The drag-and-drop environment creates 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.”

Aptech will showcase its PVNG, Execuvue, and Targetvue solutions in Booth 1301 at HITEC Toronto from June 26 to 29 at the Metro Toronto Convention Centre.