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. Execuvue enables us to do this.
PITTSBURGH, PA (PRWEB) February 08, 2017
Aptech Computer Systems announced that Lightstone, a national real estate investor/developer, implemented Aptech’s Execuvue Business Intelligence System. Lightstone has accumulated a broad hospitality portfolio of more than 3,800 keys in seven states. Its current portfolio emphasizes select services hotels, branded by Marriott, Hilton, IHG, and Starwood. Aptech is the leading provider of hotel software for business intelligence, budgeting, and enterprise financial accounting. Click here for more on Aptech’s products and services
Lightstone had 32 properties and needed to automate property data gathering and analysis. “We buy properties to grow our portfolio and we were building new Moxy hotels,” said Marc Dober, Vice President – Asset Management, Hospitality at The Lightstone Group. “As we grew it became more difficult to oversee our operation and asset performance. 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. Execuvue enables us to do this.”
Lightstone implemented the Execuvue Business Intelligence System in 4Q 2016. 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. In addition, Lightstone utilizes 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 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. We review a pre-purchase report on expected property value and return. If we buy a property we compare its actual performance with its earlier underwriting numbers. Execuvue is also a good tool for evaluating our management companies to see why a hotel exceeded forecast or underperformed.”
Aptech hosts Lightstone’s Execuvue system and data from its secure network operations center. Remote hosting greatly reduces Lightstone’s total system costs by eliminating the need for additional hardware and data servers and their associated corporate and hotel software. Hosting also off-loads system setup, management, and support duty so Lightstone can focus on revenue generating activities. “I login with a secure username and password and our data and reports are easily accessible. I worked with Aptech at two other hotel companies. They are a team of hospitality experts that do a great job,” added Dober.
Lightstone, founded by David Lichtenstein, is one of the most highly-regarded and diversified private real estate companies in the United States. Operating in all sectors of the real estate market, Lightstone’s $2 billion portfolio (in 26 states) currently includes over 6 million square feet of office, retail and industrial commercial properties, 11,000 residential units and 3,800 hotel keys. It also owns over 12,000 land lots across the country. Headquartered in New York City, Lightstone continues to grow its local presence with $2.5 billion worth of projects currently under development in the residential and hospitality sectors.
About Aptech Computer Systems, Inc.
Aptech Computer Systems, Inc., based in Pittsburgh, Pennsylvania, is the only provider of a fully integrated enterprise accounting, business intelligence and planning ecosystem to the hospitality industry. All of its clients are companies like yours, which own or manage hotels. Its solutions help customers at both the corporate and property levels understand their financial and operational data for faster goal achievement.
The company is renowned for introducing business intelligence into the hotel industry, and offers a solid resource of hospitality professionals. Aptech is an IBM Software Value Plus partner and Premier Solution Provider.
Incorporated in 1970, Aptech’s state-of-the-art back office, true business intelligence and enterprise planning solutions are 100% hotel specific. Solutions include Profitvue®, Execuvue®, Webvue® and Targetvue. Clients comprise over 3,500 properties - including large chains, multiple-property management companies and single-site hotels. Execuvue and Profitvue are registered to Aptech Computer Systems, Inc. All other trademarks are owned by their respective holders. For more information please visit http://www.aptech-inc.com.