Selects Market Leader Aptech
Hersha taps top provider of business intelligence, multi-property
accounting to increase timeliness and accuracy
of financial reporting and analysis
PITTSBURGH, June 16, 2005 – Hersha Hospitality Trust selected Aptech Computer Systems, Inc. to provide Aptech’s Execuvue® business intelligence, Profitvue® multi-property accounting, and Webvue® Internet-based operations reporting to automate its financial practices, Aptech announced today. Hersha Hospitality Trust is a publicly traded REIT (AMEX: HT), which owns and asset manages 36 properties. Installation will be completed by the end of the second quarter of 2005.
Melissa P. Hauser, director of acquisitions and
asset management for Hersha Hospitality Trust, said, “Hersha chose Aptech’s
business intelligence, multi-property accounting and web-based operations
reporting for our entire 36-property portfolio to increase the timeliness
and accuracy of our financial reporting. The Execuvue business intelligence
system will allow us to consolidate our data to compare properties by flag,
region and market segment to identify best practices, and spot trends that
affect profitability. We will use Profitvue enterprise accounting
to centralize accounts payable, general ledgers, and budgeting in an open
database for daily reporting.” Hauser added that in the past Hersha
relied on an accounting platform that did not lend itself to rapid operational
roll ups for corporate financial analysis. The company anticipates
it will now be able to conduct more timely analysis and strategic decision-making
with the new financial systems.
Execuvue is an Internet-enabled enterprise business intelligence application for large and small hotel companies that coordinates data from various corporate systems, including Smith Travel Research, into accessible information with familiar Windows simplicity. Starwood Hotels and Resorts, Sandals Resorts, Concord Hospitality, Innkeepers Hospitality, Winston Hotels, Inc., Peabody Hotel Group and other successful companies use Execuvue business intelligence.
Profitvue is a widely used thin-client, Web-enabled hospitality back office solution that easily handles single- or multi-property and multi-company accounting, and incorporates accounts payable, general ledger, budgeting, forecasting, and financials. Profitvue gives users open database compliance (ODBC) within a scaleable, client/server, open systems architecture. Profitvue is available as an ASP service or on a licensed basis.
Webvue is an extension of Profitvue that supports property accounting and reporting via the Internet. Designed for limited service hotels, Webvue enables properties to quickly and easily send and access financial and statistical data and generate reports through its Internet or intranet sites. Hotels can have real-time access to financials at any time, from any location. Webvue is fully secure and centrally controlled and can expand to handle multiple property sites.
At HITEC 2005 be sure to visit Aptech at Booth 719. Aptech will sponsor a Concurrent Session titled "Ask the Experts" on Tuesday 21st at 11:15am-12:30pm, that will feature a panel of experts fielding questions on property-based systems and is expected to be interesting and highly informative.
Aptech will also offer a Tutorial titled: "Performance Management / Business Intelligence" on Wednesday, June 22nd from 10am to 10:30am in Tutorial Room A.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a Philadelphia-based, self-advised real estate investment trust that owns midscale and upscale hotels in the eastern United States with strong, national franchise affiliations. The company focuses on acquisition and joint venture opportunities in primary and secondary markets near major metropolitan markets.
About Aptech Computer Systems
Aptech Computer Systems, Inc., based in Pittsburgh, Pennsylvania, leads the hospitality industry in leveraging change by valuing human relationships and applying technology to solve business problems for people.
Incorporated in 1970, Aptech is a financial and operations technology solutions and service company whose products include two state-of-the-art back office and business intelligence products: Profitvue® and Execuvue®. Over 700 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.
|Also See||Aptech Announces Targetvue; Automates Enterprise Planning and Budgeting; Targetvue is Newest Application for Driving Growth Goals, Profitability for Owners and Operators / June 2005|
|Ashford Hospitality Trust Selects Aptech for 54-Property REIT / June 2005|
|Winner’s Circle: Interstate Hotels & Resorts Teams with Trusted Suppliers to Deliver Security, Profitability to Owners / December 2004|
|ARAMARK Harrison Lodging Grows Conference Center Niche Through Marketing, Services and Strong Financial Reporting / October 2004|
|Midscale Operators Navigate with Centralized Business Intelligence, Enterprise Accounting; Use 2/3 Less Accounting Staff / June 2004|
|Aptech Computer Systems Completes Rollout of its Profitvue® ASP Enterprise Back Office Accounting System for Amerimar Enterprises, Inc. / June 2004|
|Real Estate Developer Belz Enterprises Boosts Corporate Value with Hotel Group Business Intelligence Gains - Prestigious Peabody Hotel Group Operates Paperless; Internet Back-Office and Business Intelligence Reduce AP Staff 33%, Cuts Month-End Close 20% / June 2004|
|Leading Extended Stay Management Company Creatively Uses Business Intelligence to Direct 85% Growth / January 2004|
|#1 Owner Group Priority: Performance Management for Investors / The Melrose Hotel Company Studies New Process toHospitality That Includes Goal Setting, Goal Tracking, and Data Analysis / December 2003|
|Big Box Hotels, Boutiques Share Design Styles; Standardize Data, Financials To Support Long-Term Growth of Real Estate Parent / October 2003|
|Economy Brightens: H.I. Development Corp. Picks Enterprise-wide Business Intelligence, Back Office Technology to Drive Growth / September 2003|
|CHIP, Other Ownership Groups Eye New Scorecarding Tool To Communicate Common Vision of Enterprise Priorities, Control Costs, Raise Profit Margins in Tough Economy / June 2003|
|Dolce International Clicks Through Smith Travel Data To Chart Growth Plans, Increases Market Share 4 Percentage Points / June 2003|
|The Melrose Hotel Company Installs Business Intelligence Software to Stay Above RevPAR Curve / May 2003|
|Pineapple Management Benefits: Technology Vendor Invests in Back-Office System Advances for Operators; ‘New Economy’ Demands Greater Efficiency in Hospitality Operations / Mar 2003|
|Minnesota Hotel Operator Builds Success With Locations Near Chain Restaurants, Web-Based Centralized Accounting / Feb 2003|
|Business Intelligence Software Identifies, Controls Costs; Focuses on Improving Profitability for Hoteliers in 2003 and 2004 / Dec 2002|
|Mid-Sized Management Firm Bursts into Creative Boutique Market with Added Services, Web-Based Centralized Accounting / Sept 2002|
|Marriott, Hilton Management and Real Estate Firm Dominates New Construction Niche With Business Intelligence Software, Relationship Financing / Aug 2002|
|Starwood, Host Marriott Shine at New York Hospitality Investment Conference; Edge Ahead with Business Intelligence Tools, Rely on Aptech Applications / June 2002|
|Hotel Undergraduates Shift With the Industry Towards Business Intelligence / March 2002|
|Interstate Hotels Partners with Aptech to Install ASP Model; ASP Back Office Provides Value to Hotel Owners With Ability to Reduce Capital Outlay, Eliminate Maintenance Costs, Bring Faster Processing Speeds / June 2001|
|Jill Wilder Named Vice President and Officer of Aptech Computer Systems Inc. / May 2002|
|Survival Tactics; New Technology Directions Surface in Business Intelligence Survey / November 2001|
|Aptech Opens Business Intelligence Door for Small to Mid-sized Management Firms / October 2001|