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and Centralized Accounting Support Growth - When the corporate office handles accounting, properties focus on profitability |
| Pittsburgh - May 25, 2006 - Pinnacle Hotel Management
delivers what investors crave � profitability and fast growth. The
company manages 17 properties for several different ownership groups and
recently acquired an additional nine Marriott-managed hotels. So how does
it drive this success? The secret is a combination of management
entrepreneurship, centralized support, and hotel
computer systems technology.
Founded in 1997 by Ron Franklin and Dick Vilardo, Florida-based Pinnacle operates with a philosophy that each property is its own business, and every hotel�s management team is responsible for its success. To support its general managers, Pinnacle provides as much administrative assistance as possible, giving GMs freedom to focus on improving property performance. �Our investors expect a strong bottom line with a minimum of management expense, and we deliver it,� said Pinnacle Director of Finance, Felicia Matula. �We run a very lean operation, three regional managers and my accounting staff, and we automate wherever possible.� In an effort to tighten operations, standardize financial ownership reporting and support its general managers, Pinnacle automated and centralized its accounting processes with help from Aptech Computer Systems customized software solutions. Pinnacle implemented the Profitvue® enterprise financial system from Aptech that provides immediate secured access to Pinnacle�s records for review, analysis and reporting. �Before automating, property managers frequently
requested changes or corrections to their manual entries by phone, which
required the corporate accounting team to make corrections and email them
verification,� explained Ms. Matula, who began with Pinnacle as a GM seven
years ago before being appointed director of finance. �Now, GMs can
email or phone with their revisions and can verify the changes almost instantly
to confirm accuracy and check performance. In addition, they can
review their performance numbers online with Aptech�s Webvue® to check
expenses or get a first-draft P&L to verify accuracy; they don�t have
to wait until month end.� Both Profitvue and Webvue are part of Aptech�s
suite of hotel management software and hospitality
business intelligence software.
Aptech will be exhibiting at HITEC 2006 in
Minneapolis, Minn., June 20-22.
About Pinnacle Hotel Management Pinnacle Hotel Management was founded in 1997 to develop and manage Marriott- and Hilton- branded hotels. Its first project, the 123-room Courtyard Orlando East at UCF in Orlando, Fla., opened in June 1997. Since that time, Pinnacle has developed 16 additional hotels including its most recent project, the 100-suite Residence Inn by Marriott in Avon, Conn., an affluent suburb of Hartford. The largest project to date is the Orlando Marriott Lake Mary, a 304-room, full- service hotel in the booming suburban Lake Mary market of Orlando. The company manages its own hotels, as well as those owned by other companies. Although primarily a company focused on new-build projects, Pinnacle Hotel Management has successfully completed conversion projects such as the Fairfield Inn and Suites in Palm Beach, Fla., and the Courtyard in Key West, Fla. About Aptech Computer Systems
Incorporated in 1970, Aptech is a financial and operations technology solutions and service company whose products include state-of-the-art back office, business intelligence and enterprise planning products: Profitvue, Execuvue and Targetvue. Over 1,100 users, including very large chains, multiple-property management companies and single-site hotels, utilize Aptech solutions to understand their financial and operational data. By offering the hotel industry a solid resource of hospitality professionals, and through its proven ability to evolve technology offerings as the market dictates, Aptech is proud to have earned 100% customer loyalty. Execuvue and Profitvue are registered trademarks and MyExecuvue? is registered to Aptech Computer Systems, Inc. All other trademarks are owned by their respective holders. |
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