Newport Hospitality Group to Centralize Its Financial

To complement PVNG and enhance its financial technology stack, Newport will also add Aptech’s budgeting and forecasting solution, Targetvue, and eventually layer in its IBM Cognos-based ASP BI application, Execuvue. (Shown here: Hyatt Blacksburg Hotel Near Virginia Tech)


6.22.2022

Newport Hospitality Group (NHG) has selected PVNG by Aptech as the cloud-based enterprise accounting solution for its portfolio of 50 select and full-service hotels. Immediately, the hotel management company will begin leveraging the seamless platform to move data more efficiently from individual properties to a central accounting repository. To complement PVNG and enhance its financial technology stack, Newport will also add Aptech’s budgeting and forecasting solution, Targetvue, and eventually layer in its IBM Cognos-based ASP BI application, Execuvue.

“Our goal over the last several years has been to get off our legacy accounting platform and adopt a cloud solution that enables our people to work remotely without using a VPN to access the software,” said Andrew Carey, Newport Hospitality Group CEO. “We were attracted to Aptech because it is an IBM and Prophix business partner. We know the technology will stay current and remain strong – something many well-known small business accounting solutions fail to do. Also, Aptech is 100% hospitality focused. They understand the needs of our organization from a financial management standpoint. Add to this Aptech’s set of budgeting, forecasting, and BI tools, and we found everything we needed from a single provider. Being able to eliminate finger pointing between multiple vendors when something isn’t working is a win in my book.

“We are eager to begin deploying PVNG to gain rapid access to relevant and timely information so everyone can improve decision making in cost effective ways,” he said. “It comes with a robust reporting engine; how data is accessed and presented will be left only to the imaginations of those creating the reports. This is a good hospitality accounting platform with equally good support. We made a great choice with Aptech.”

PVNG is a game-changer in the world of hotel accounting. It features Accounts Payable, Accounts Receivable, General Ledger, Statistics, Financials, and Bank Reconciliation modules, along with web browser navigation to upload the hotel data remotely. PVNG also contains OCR invoice processing, a myriad of payment options, drill-down capabilities in financial statements and reports, and the ability to handle single or multi-property accounting. It can also be deployed as a hosted service.

Targetvue is Aptech’s hospitality-driven budgeting and forecasting solution. Built on the 11th Edition USALI Standard Chart of Accounts and Reports, Targetvue consolidates reports, identifies trends, drives room revenue by predicting occupied rooms and average daily rate, shares plans throughout the organization, and meets future growth goals utilizing a single, centrally-maintained set of database models. Targetvue eliminates the need to correct and recombine multiple spreadsheets for consolidating and reporting.

Execuvue leverages AI-powered analytics to help hoteliers make smarter business decisions and respond to commands, such as “Show Me Room Revenues by State and by Property.” The AI tool links relevant data elements (number of rooms rented, ADR, RevPAR, occupancy, rooms out of order, etc.) with a list of properties or brands to analyze the information in visually compelling ways. It also configures data regionally, giving operators a performance snapshot portfolio wide, as well as by region, brand, and property. The drag-and-drop environment with predictive analytics creates stunning visualizations based on data entered. The scalability, flexibility, and integration capabilities of Execuvue sets Aptech apart from other BI providers.

“We are delighted to be adding more hotels operating under the Hilton, Marriott, Hyatt, InterContinental Hotels Group, Choice and Wyndham brands, as well as independent boutique properties, to our client roster through this new partnership with NHG,” said Jill Wilder, Aptech Vice President. “Finding a technology partner that you can trust is not as easy as one may think today. Like Newport – that has been in business for 30 years – Aptech has industry longevity that hoteliers covet and a track record of exceptional support that operators crave. Our solutions are 100 percent hotel specific, and all applications can operate stand-alone or be fully integrated with the entire Aptech financial suite – as NHG will experience when they add Targetvue and Execuvue following their PVNG deployment. In today’s economy, it’s a good time to be an Aptech customer.”

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