Urgo Hotels & Resorts installs Targetvue for standardized budget 

Urgo Hotels & Resorts properties, such as the Hampton Inn Garden City (N.Y.), wanted better control of its budget processes, leading to a technology upgrade. Photo credit: Aptech Computer Systems

Urgo Hotels & Resorts implemented Aptech Computer Systems’ Targetvue budgeting and forecasting system to standardize budget-control processes throughout its portfolio. Urgo provides management for international brands including Marriott and Hilton as well as independent properties across major markets in the U.S., Canada and the Caribbean. 
 
“Urgo wanted better control of its budget processes. Targetvue gives us that control,” Jim Bowne, VP and corporate controller at Urgo Hotels & Resorts, said in a statement. “Targetvue provides us one version of the budget. Each property can make its budget updates and we have a workbook that reflects each property’s daily updates. We review and accept the changes at the corporate office, lock the budget and send to ownership for approval. Targetvue gives Urgo one platform with one budget, not multiple spreadsheet variations.”
  
Urgo also installed Aptech’s PVNG enterprise hotel accounting software. “We overhauled our entire financial reporting platform,” Bowne said. “Targetvue lets us automatically transfer numbers to our GL so we no longer have to do this manually. This saves us time and eliminates the rekeying of data, which keeps our operation more accurate.”
 
Urgo Hotels & Resorts created a custom chart of accounts to incorporate its multiple entities. “Targetvue made our custom chart work,” said Bowne. “Aptech made modifications to suit Urgo’s operations. The nice thing about Targetvue is that you can refine processes and make changes as the process/company evolves. Our budget process is driven at the property level. The general manager and the team oversees the initial development of the budget. Our corporate team reviews and provides guidance for the property’s data and goals.” 

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.