As businesses try to gain significant competitive advantage and offer genuine quality and value for money, the job of managing a hotel business in the most efficient way becomes a real challenge.
Our objective is to provide all of the services our clients need from a single point of contact, including:
For some hoteliers, audit simply satisfies a regulatory requirement; for others it becomes an integral part of the hotel’s management and governance framework. Whatever the motivation, we design our audit and assurance services to maximise value, whether in the form of checks on specific business areas or advice on systems and procedures.
Flexible outsourcing services
Our Business Support & Outsourcing team provides outsourced accounting services, freeing up your own resources and reducing costs. We offer bookkeeping, preparation of annual financial statements ready for audit, preparation of management reports, budget forecasting, VAT and tax compliance, company secretarial and full back-office services. We can also provide training for your staff and fill skills gaps in your accounts department on a temporary or permanent basis.
Specialist tax and compliance insight
Hotels are favourite targets for tax authorities. We develop strategies to minimise tax costs to the business, encompassing capital allowance claims, property ownership, international tax structuring and financing. Through our VAT or payroll health checks we provide hotel owners and operators with comfort on their tax compliance. We also offer a full payroll function as well as specific employer advice, ensuring optimal management of employee-related costs – a key issue for any hotel business.
Practical corporate financing
We provide financing advice to hotel businesses at all stages of development, from new start-ups to large established groups looking to expand or refinance. We advise on the most appropriate type of finance and actively help in the financeraising process itself, whether involving equity funding, mezzanine finance, senior or other debt. We can help with preparing business plans, trading and cash flow forecasts, presentations and information memoranda for potential funders. We can also advise on optimum gearing levels, working capital and treasury management.
Buying or selling a hotel can be a major economic event in the life of an operator or owner. It is essential, therefore, to manage the risks. Our team of specialists is able to advise and assist in the process, whether by carrying out valuations of a hotels business, carrying out due diligence or investigation work designed specifically to reduce the risks, or by channelling information to a buyer. For mature businesses we are experts at advising on re-organisations, refinancings, equity placings and IPOs, and carry out a number of significant transactions for clients in this area each year. We can help increase shareholder returns in general and unlock value from real estate assets.
Realistic IT help
We advise on the most appropriate frontof- house and back office systems to achieve the lowest cost but highest benefit solution. Our suggestions are practical and business orientated, taking into consideration existing systems and any shortfalls. Our Business Intelligence solutions provide decisionmakers with fast, easy access to up-to-date information and analysis, while our statistical modelling solutions support business planning. Data security is also prioritised.
Supportive corporate recovery
Some businesses will fail, perhaps due to poor management, but more often due to unexpected circumstances or new competition. Our corporate recovery team can assess the options for a hotel under pressure and advise on the best course of action, whether sale, refinancing or liquidation.
Sound risk management and corporate governance advice
Hotel owners who are not active operators within the business gain great comfort from knowing the risks to the business are being properly managed. We can help you establish an effective risk management approach based on a clear strategy and transparent risk register. We can facilitate risk workshops to train your staff to identify, manage and control risks. For larger operations we can advise on the design of corporate governance frameworks. This includes undertaking governance health checks, assisting in the evaluation of board performance, or establishing audit and remuneration committees, to give optimum comfort to external investors. We can also provide internal audit services for providing assurance that your risks are being appropriately managed and controlled.
The following discrete services are also available:
- Individual tax planning for principals and investors
- Offshore structuring
- Management company advice
- Intellectual property advice
- Intermediary banking
Please contact us for more information.