Execuvue Hospitality Business Intelligence Reports Put Performance Data in Operators’ Hands In Time to Make a Financial Difference
PITTSBURGH – September 27, 2017 – Accurate, next day financial reporting is essential for proactive profitability-focused operators. Comprehensive operations reports with dynamic drill down capability are like headlights that examine the factors that impact performance. They show managers and owners where their business is, how it got there, and illuminate what they need to change to make it better.
“TPG Hotels & Resorts operates a portfolio of more than 50 hotels nationwide. Understanding what drives our profitability is essential,” said Michael Brown, VP – business intelligence for TPG. “We use an Execuvue Hospitality Business Intelligence (BI) system to generate a variety of reports that detail expenses and revenue sources by property and brand.” TPG’s evaluation compares every aspect of hotel performance. “Execuvue reports let us benchmark each property against others within its brand for comparisons that spotlight specific expenses that are outside nominal performance. Once we identify these exceptions we can reduce the specific costs before they impact property performance.”
Execuvue hospitality business intelligence also features an ad hoc report tool that lets TPG create custom company reports with percentage and dollar measurements that show 10 key metrics over the past five years compared to revenue. The ad hoc tool lets users manipulate items in their database to identify and understand potential problems and changes within the business.
“By looking at our historic expense trends on one page we can forecast where they will be in the coming year,” Brown said. “We use many standard Execuvue reports. I also create our own custom reports and dashboards on the fly. Our EOM numbers are essential and I generate them as needed at the touch of a button to evaluate performance of properties and our entire portfolio.” TPG Hotels & Resorts is a top-ranked hospitality management company and fully accredited operator of the industry’s most respected brands including Marriott (Starwood), Hilton, Hyatt, IHG and others. Aptech Computer Systems is a leading provider of hotel accounting software, hospitality enterprise accounting, budgeting, forecasting, and business intelligence systems. Click here for more on Aptech’s products and services.
“Our company is unique. Our owners and managers have a wealth of experience and want to see property performance from different angles,” said Monica Nichols, controller for Pinnacle Hotel Management which operates 26 major brand and independent properties. “We leverage all our Execuvue BI system’s reporting capability. Along with standard financial reporting, we use the system’s ad hoc report building tool to drag and drop raw data elements to create custom reports that our regional directors request. This takes about a minute.”
Nichols said Pinnacle also turns to Aptech’s professional team to create custom reporting. “We let Aptech build several individual reports for us with unusual metrics like T/A fees as a percentage of revenue for hotels and across our portfolio. Once Aptech creates them, the reports reside on our system with easy pull-down functionality. In budget season we will send our properties custom reports with profitability based on specific expenses. This will save lots of time over previous years when I prepared property data manually.” Execuvue provides information from prior years to simplify budgeting. The system lets us provide reports in PDF for fast viewing, or in an Excel format for managers that want to do their own ‘what-if’ calculations.”