Developer Implemented Hosted Enterprise BI to Gather and AnalyzePerformance Data from Hilton, Marriott and IHG Properties; Provide Asset Performance Reporting to Investors and Management
Pittsburgh, PA – February 8, 2017 – Aptech Computer Systems announced that Lightstone, a national real estate investor/developer, implemented Aptech’s Execuvue Business Intelligence System. Lightstone has accumulated a broad hospitality portfolio of more than 3,800 keys in seven states. Its current portfolio emphasizes select services hotels, branded by Marriott, Hilton, IHG, and Starwood. Aptech is the leading provider of hotel software for business intelligence, budgeting, and enterprise financial accounting.
Lightstone had 32 properties and needed to automate property data gathering and analysis. “We buy properties to grow our portfolio and we were building new Moxy hotels,” said Marc Dober, Vice President – Asset Management, Hospitality at The Lightstone Group. “As we grew it became more difficult to oversee our operation and asset performance. We wanted a robust hotel software system to automate property information gathering and analysis, one that could provide next-day performance reporting to Lightstone’s investors and management. Execuvue enables us to do this.”
Lightstone implemented the Execuvue Business Intelligence System in 4Q 2016. Execuvue automatically integrates data from Lightstone’s Marriott, Hilton, IHG and other properties daily and creates custom flash reports to save time. Lightstone also uses Execuvue for financial analytics from P&Ls. In addition, Lightstone utilizes Execuvue to collect Smith Travel Research STAR report information on regional market dynamics and correlate it with property performance data to optimize market strategies. Execuvue is Aptech’s IBM Cognos-based ASP enterprise hospitality business intelligence hotel software application that enables faster goal achievement for large and small hotel companies.
Lightstone puts its Execuvue property data to work across a number of financial and business processes. “We often develop underwriting pro forma performance analysis reports on properties we are evaluating for investment,” Dober said. “We run several different Execuvue reports on our new properties. We review a pre-purchase report on expected property value and return. If we buy a property we compare its actual performance with its earlier underwriting numbers. Execuvue is also a good tool for evaluating our management companies to see why a hotel exceeded forecast or underperformed.”