Coral Hospitality Selects Profitvue® from Aptech to Standardize Financial Reporting Across Portfolio

  • Aptech Computer Systems, Inc.
  • 01.23.08
Aptech Computer Systems, Inc. announced that Coral Hospitality will standardize and streamline its accounting operations and financial reporting on Aptech’s Profitvue® back office financial accounting software solution.

Coral Hospitality is a full-service management and investment company specializing in hotels, clubs and residential communities that manages a portfolio of 35 properties and anticipates adding 10 more hotels and clubs in the next two years.  The company provides both centralized and decentralized accounting services and has installed Profitvue in four properties to date.  Coral expects to roll the system out to its portfolio as part of the company’s strategy of intelligent growth.
 
“Coral Hospitality has a reputation for providing five-star experiences to guests with an emphasis on solid financial returns for owners,” said Coral’s chief financial officer, Christopher Schaeffer.  “To accomplish this as the company grows, we are standardizing financial reporting, accounting and business intelligence on Aptech technology.  Aptech is a hospitality technology specialist whose proven solutions are widely installed throughout the hospitality industry.”
 
Coral selected Profitvue after an extensive RFP process that involved members of its systems,  hotel management and accounting staffs who focused on finding the most efficient, effective and streamlined system possible.  According to Schaeffer, Profitvue, with its numerous accounting software modules, was the only solution to meet Coral Hospitality’s needs. 
 
Profitvue benefits include:
  • Property data gathering and consolidation
  • Standardized chart of accounts
  • Business analysis
“Aptech has been developing and implementing the hospitality industry’s most widely used and effective financial solutions for nearly 40 years,” said Aptech’s director of sales, Cam Troutman.  “As Coral continues its impressive growth, Profitvue will provide an ideal platform to maintain management control and financial oversight without losing focus on providing top-flight service.”
 
Schaeffer said Coral’s financial technology expectations were precise; the system must be easy to use, operate as a standalone at each property, yet provide its corporate team with access to property operations.  In addition the system had to be flexible enough to administer Coral’s extensive chart of accounts and support the company’s other unique requirements.
 
“Our focus is on operational financial management, not data entry or extraction,” he said.  “Profitvue allows us to be proactive, not reactive and that’s how we will build on our goal of providing solid financial returns for owners.”



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