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Selects Market Leader Aptech . Hersha taps top provider of business intelligence, multi-property accounting to increase timeliness and accuracy of financial reporting and analysis |
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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
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. |
| Contact:
Hersha Group
Aptech Computer Systems
Media Contact
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