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.”
