It was recently disclosed that Vantage Hospitality Group has
Heartland Payment Systems
) to provide payroll solutions and payment processing services.
Vantage is the eighth largest hotel company in the world. Its
portfolio includes Americas Best Value Inns and the Lexington
family of inns and hotels.
Through the deal Heartland will allow Vantage members access
to its web-oriented payroll solutions. These payroll solutions,
specially designed for the hospitality industry, come with a
three-year price guarantee coupled with credit and debit card
processing services. They are designed to support most of the
property management systems like AutoClerk, RoomKey and
Check-Inn. Alongside, Heartland will also offer its
round-the-clock live customer service to Vantage members.
Heartland through its cost effective services expects to
improve the operational efficiency of Vantage and its members. In
turn, by providing its services to Vantage, Heartland will be
able to expand its business and fortify its sales structure.
Vantage aims to utilize Heartland's services to provide its
members, best-in-class technology and its guests a better
Heartland currently delivers its services to over 60,000
restaurants and 6,500 lodging properties. Moreover, it officially
functions as the payment processor for the American Hotel &
Lodging Association, the National Restaurant Association and 43
state lodging associations.
Heartland continuously engages in a number of transactions to
expand and enhance its existing lines of business. In Jan 2013,
Heartland and ABM Parking Services, a subsidiary of
ABM Industries Incorporated
), extended the duration of their strategic liaison. The joint
venture allows Heartland to process signature debit and credit
card transactions at more than 1100 ABM sites throughout the
Among other payment processors,
) entered into a strategic partnership with
JPMorgan Chase & Co.
) last week for a period of ten years to promote electronic mode
of payments. Visa will thereby support merchants further to
provide convenient shopping experience for cardholders.
Heartland Carries a Zacks Rank #3 (Hold) while Visa carries a
favorable Zacks Rank #2 (Buy).
ABM INDUSTRIES (ABM): Free Stock Analysis
HEARTLAND PAYMT (HPY): Free Stock Analysis
JPMORGAN CHASE (JPM): Free Stock Analysis
VISA INC-A (V): Free Stock Analysis Report
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