Pracrea announced today the launch of Proceso Hospitality at the 2014 Asian American Hotel Owners Association (AAHOA) Conference &Convention. Pracrea will demonstrate multiple solutions of Proceso Hospitality in Booth #852 at the convention trade show. B2B solutions will be demonstrated that include a hotel valuation process and a target specific listing and distribution engine. After over eighteen months of development, this is a significant launch for the company as the hospitality sector as its first market.
“As web based advanced software tools have emerged in insurance,lending, stock, residential real estate, and other represented industries,Proceso now provides a solution above and beyond just a listing site. Our first release, Proceso Hospitality, will empower direct sellers and brokers to be more effective in their efforts, services they require to market and sell their properties” said Mukesh Mowji, founder & CEO of Pracrea.
“The use of web based tools that provide resources to sellers of hoteliers and brokers will save time and money in the entire transaction process. That along with the valuation, distribution, and business management intelligence the tool will provide, is designed to increase the net proceeds toa seller” according to Tarun Patel, founder and CFO of Pracrea. “We wanted to take advantage of the AAHOA conference to launch our solution as the membership is a key target market for us”.
Pracrea is a Silicon Valley based company that will provide an alternative real estate and business transaction methodology. This methodology is developed using Web 2.0 based processes, and cloud computing that use social media as the communications backbone. Pracrea was started by senior industry veterans, Mukesh J. Mowji and Tarun S. Patel who have a strong background in software technology and commercial and hospitality real estate transactions. Both are former chairman of the Asian American
Hotel Owners Association (AAHOA). Currently, commercial real estate and business transactions are predominantly a manual process where the real estate or business broker facilitates and manages the transaction. These processes are embedded with multiple inefficiencies and are fragmented and not repeatable.These inefficiencies also affect the marketing of the asset to potential buyer sand sellers and affect the timing for closure of the potential transaction. In addition, the current transaction process is expensive.
ABOUT PROCESO AND PROCESO HOSPITALITY
Based on these opportunities, Pracrea has developed an automated transaction tool, Proceso. The initial application of the tool is Proceso Hospitality as a product that provides a complete end-to-end software platform with limited human interaction to facilitate transactions in the hospitality real estate market.
Proceso Hospitality solution simplifies the listing process ofhospitality real estate by a seller to a wider market of qualified potential buyers. Proceso Hospitality also provides the seller a maximized sell price along with an alternative business model for costs and fees. The maximizing of sell price and reduction in transaction costs yields significantly higher net proceeds to the seller.