Urgo Hotels & Resorts Installs Targetvue for Standardized Budget Across 40 Properties
December 5, 2018 9:54am
Faster Budget Calculation Provides Ownership Entities with Accurate Gross Operating Profit Numbers for Solid Business Decisions
PITTSBURGH, December 5, 2018 – Aptech Computer Systems announced that Urgo Hotels & Resorts implemented the Targetvue Budgeting and Forecasting system to standardize budget control processes throughout its portfolio. Urgo provides management for international brands including Marriott and Hilton as well as independent properties across major markets in the U.S., Canada and the Caribbean. Aptech is the leading provider of hospitality business intelligence, budgeting and forecasting, and enterprise hotel accounting software systems. Click here for more on Aptech’s products and services.
“Urgo wanted better control of its budget processes. Targetvue gives us that control,” said Jim Bowne, VP/Corporate Controller, at Urgo Hotels & Resorts. “Targetvue provides us one version of the budget. Each property can make its budget updates and we have a workbook that reflects each property’s daily updates. We review and accept the changes at the corporate office, lock the budget, and send to ownership for approval. Targetvue gives Urgo one platform with one budget, not multiple spreadsheet variations.”
“Targetvue provides an automated forecasting platform that builds on daily updated performance data from property operations. It is a continuous ‘pulse meter’ that compares actual against plan,” said Jill Wilder, Aptech vice president. “This ‘living budget’ gives operators the ability to plan day by day for the greatest profitability.”
Urgo also installed Aptech’s PVNG Enterprise Hotel Accounting software. “We overhauled our entire financial reporting platform” said Bowne. “Targetvue lets us automatically transfer numbers to our GL so we no longer have to do this manually. This saves us time and eliminates the rekeying of data, which keeps our operation more accurate.”
Urgo Hotels & Resorts created a custom chart of accounts to incorporate their multiple entities. “Targetvue made our custom chart work,” said Bowne. “Aptech made modifications to suit Urgo’s operations. The nice thing about Targetvue is that you can refine processes and make changes as the process/company evolves. Our budget process is driven at the property level. The general manager and the team oversees the initial development of the budget. Our corporate team reviews and provides guidance for the property’s data and goals.”
Targetvue went live at Urgo in 4Q 2018. “Many of our entities need data fast and Targetvue helps us stay ahead of the curve to get numbers we need to react timely to changes in operations,” Bowne said. “Aptech is customer service oriented. They showed us how to use Targetvue’s budgeting system. We expect to implement Targetvue’s forecasting capabilities in the near future.”
Tags: aptech computer systems,
budgeting and forecasting,
enterprise back office solution
Urgo Hotels is a Bethesda, Maryland-based hotel company that develops, owns and/or operates 42 distinctive and unique hotels and resorts with an aggregate of more than 4,900 rooms in major markets and resorts in the United States, Canada and the Caribbean. The company develops, builds and operates for its own account, and provides third-party management and asset management services. For more information about Urgo Hotels & Resorts, please visit www.urgohotels.com.
Aptech Computer Systems, Inc., based in Pittsburgh, Pennsylvania, is the only provider of a fully integrated enterprise accounting, business intelligence and planning ecosystem to the hospitality industry. All of its clients are companies like yours, which own or manage hotels. Its solutions help customers at both the corporate and property levels understand their financial and operational data for faster goal achievement.
The company is renowned for introducing business intelligence into the hotel industry, and offers a solid resource of hospitality professionals. Aptech is an IBM Software Value Plus partner and Premier Solution Provider, as well as a Prophix Premier Business Partner.
Incorporated in 1970, Aptech’s state-of-the-art back office, true business intelligence and enterprise planning solutions are 100% hotel specific. Solutions include PVNG, Execuvue® and Targetvue. Clients comprise over 3,500 properties - including large chains, multiple-property management companies and single-site hotels. Execuvue is registered to Aptech Computer Systems, Inc. All other trademarks are owned by their respective holders. For more information please visit www.aptech-inc.com.
Contact: Cam Troutman, Vice President
800-245-0720 or 412-963-7440
Contact: Julie Keyser-Squires, APR, Softscribe Inc.
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