August 13, 2022

Newport Hospitality Group to Centralize Financial Accounting Across 50 Hotel Properties with PVNG by Aptech |

To complement PVNG and enhance its fintech stack, Newport will also add Aptech’s budgeting and forecasting solution, Targetvue, and possibly a layer into its IBM Cognos-based ASP BI application, Execuvue. (Shown here: Hyatt Blacksburg hotel near Virginia Tech)

22.06.2022

Newport Hotel Group (NHG) selected PVNG in aptech as a cloud-based business accounting solution for its portfolio of 50 select, full-service hotels. Immediately, the hotel management company will begin leveraging the transparent platform to more efficiently transfer data from individual properties to a central accounting repository. To complement PVNG and enhance its fintech stack, Newport will also add Aptech’s budgeting and forecasting solution, Targetvue, and possibly a layer into its IBM Cognos-based ASP BI application, Execuvue.

“Our focus over the past few years has been to move away from our legacy accounting platform and into a cloud-based solution that allows our employees to work remotely without using VPNs to access the software,” said Andrew Carey, CEO of Newport Hospitality Group. “We were attracted to Aptech because it is a business partner of IBM and Prophix. We know the technology will stay up-to-date and strong, something many well-known accounting solutions for small businesses fail to do. Moreover, Aptech is 100% focused on hospitality. They understand the needs of our organization from a financial management perspective. Add to that Aptech’s set of budgeting, forecasting, and BI tools, and we found everything we needed from a single vendor. Being able to eliminate finger pointing between multiple vendors when something goes wrong is a win in my book.

“We look forward to beginning to deploy PVNG to gain rapid access to relevant and timely information so that everyone can improve decision-making in a cost-effective way,” he said. “It comes with a robust reporting engine; how the data is accessed and presented will be left to the imagination of those creating the reports. This is a good hotel accounting platform with equally good support. We made an excellent choice with Aptech.

PVNG game changer in the world of hotel accounting. It includes Accounts Payable, Accounts Receivable, General Ledger, Statistics, Finance, and Bank Reconciliation modules, as well as web browser navigation to download hotel data remotely. PVNG also contains OCR invoice processing, a myriad of payment options, drill-down capabilities in financial statements and reports, and the ability to manage accounting for one or more properties. It can also be deployed as a hosted service.

Targetview is Aptech’s hospitality-focused budgeting and forecasting solution. Built on the 11th edition of the USALI standard chart of accounts and reports, Targetvue consolidates reports, identifies trends, generates revenue per room by predicting occupied rooms and average daily rate, shares plans across the organization, and responds to future growth goals using a single, centrally managed set of database models. Targetvue eliminates the need to correct and recombine multiple spreadsheets for consolidation and reporting.

Execution leverages AI-powered analytics to help hoteliers make smarter business decisions and respond to orders, such as “Show me room revenue by state and property.” The AI ​​tool links relevant data elements (number of rooms rented, ADR, RevPAR, occupancy, rooms down, etc.) to a list of properties or brands to analyze the information in a visually compelling way. It also configures data at the regional level, giving operators insight into portfolio-wide performance, as well as by region, brand and property. Drag-and-drop environment with predictive analytics creates stunning visualizations based on input data. Execuvue’s scalability, flexibility and integration capabilities set Aptech apart from other BI vendors.

“We are delighted to add more hotels operating under the Hilton, Marriott, Hyatt, InterContinental Hotels Group, Choice and Wyndham brands, as well as independent boutique properties, to our roster of clients through this new partnership with NHG” , said Jill Wilder, Vice President of Aptech. “Finding a technology partner you can trust isn’t as easy as you might think today. Like Newport – which has been in business for 30 years – Aptech has the industry longevity that hoteliers covet and an exceptional support history that operators seek. Our solutions are 100% hotel specific and all applications can run standalone or be fully integrated with the entire Aptech financial suite – as NHG will experience when they add Targetvue and Execuvue suite to their PVNG deployment. In today’s economy, now is a great time to be an Aptech customer.

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