Pracrea, Inc, which launched Proceso Hospitality at the Asian American
Hotel Owners Association conference and announced the acquisition of The Hotel Inventory, today announced a formal relationship with PKF Hospitality Research, LLC (PKF-HR).
“It is a major milestone for Pracrea to establish this relationship with PKF-HR. PKF-HR’s data will inform the analytical solutions that will empower hoteliers with tools to manage their businesses. Additionally, the data will assist in Proceso customers to more accurately price hotels for sale” said Mukesh J. Mowji, founder and CEO of Pracrea.
“PKF-HR is a well-established entity in the industry. This relationship will create opportunities for both companies to expand their reach in market segments that currently are not subscribers to either.
Additionally, the data gathered by Pracrea will create new opportunities for data analysis in the industry” stated Tarun Patel, founder and CFO of Pracrea, Inc.
“Tarun and Mukesh have become good friends since we first began collaborating in making our data available to customers and clients of Proceso Hospitality back in 2012. Their thoughtful approach to developing the Proceso platform represents an important step forward in facilitating the interaction of buyers and sellers of hotel real estate” noted Mark Woodworth, president of PKF Hospitality Research, LLC.
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 buyers and sellers and affect the timing for closure of the potential transaction. In addition, the current transaction process is expensive.
ABOUT PKF HOSPITALITY RESEARCH, LLC
Headquartered in Atlanta, PKF Hospitality Research, LLC is a wholly-owned subsidiary of PKF Consulting USA, LLC (www.pkfc.com
). The companies provide research and advisory services to hospitality industry participants. PKF Consulting USA is owned by FirstServiceCorporation (FSRV) and is a subsidiary of Colliers International. The firm has offices in New York, Boston, Indianapolis, Chicago, Philadelphia, Washington DC, Atlanta, Jacksonville, Tampa/Orlando, Houston/Dallas, Los Angeles, Bozeman, and San Francisco.