Developer with $2B portfolio in 26 states analyzes performance data, delivers reports to investors and management.
PITTSBURGH – February 8, 2017 – Aptech Computer Systems announced that Lightstone, a national real estate investor/developer, installed Aptech’s Execuvue Business Intelligence System.
Lightstone broad hospitality portfolio operates more than 3,800 keys in 7 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. Click here for more on Aptech’s products and services.
Lightstone needed to automate property data gathering and analysis for 32 properties.
“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.”
Execuvue enables next-day performance reporting to Lightstone’s investors and management.
“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.
Lightstone optimizes market strategies. Compares STR STAR Reports and property performance data.
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 enables faster goal achievement for hotel companies of any size.
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.”
Aptech hosts Lightstone’s Execuvue system and data from its secure network operations center.
Remote hosting greatly reduces Lightstone’s total system costs. It eliminates the need for additional hardware and data servers and their associated corporate and hotel software.
Hosting by Aptech also off-loads system setup, management, and support duty so Lightstone can focus on revenue generating activities.
“I login with a secure username and password and our data and reports are easily accessible. I worked with Aptech at two other hotel companies. They are a team of hospitality experts that do a great job,” added Dober.
