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  Hotel sector : services
 
 
Our objective is to provide all of the services our clients need from a single point of contact, including:

Audit
Accounting
Taxation
Financing
Transaction services
Consultancy
Litigation support
IT
New opportunities
Insolvency planning
Risk management and corporate governance
Other services

Audit

The value from an audit can range from simply satisfying local filing requirements to being an integral part of the management and governance framework of a hotel. Whatever the motive, we design our audit and assurance services to maximise the value added, whether in the form of checks on specific aspects of the business or advice on systems and procedures. In the case of loan finance, we can provide reports on specific aspects of the business, opinions on working capital and cash flow forecasts, or bank covenant certificates to give comfort to banks or other lenders.

Accounting

We can provide full accounting services from the processing of transactions through our business process outsourcing teams to the drafting of year end accounts and the preparation of a year end file ready for audit. This includes provision of monthly detailed profit and loss accounts, balance sheets, cash flow and other essential management information to determine the performance of different parts of the business. We can also help train staff and fill skill gaps in the accounts department on a temporary or permanent basis.

Taxation

Taxation issues can impact heavily on hotels as they always seem to be on the radar of local tax authorities. We can provide tax strategies to minimise the tax costs to the business by looking at the individual parts of the business, including property ownership and financing, operating inputs and outputs, and management. We can also devise innovative strategies for delivering profits to owners in the most tax-efficient way, especially where investment is coming from abroad.

For businesses that want the comfort of knowing that they are fully compliant with local tax regulations we can carry out sales tax or payroll health checks to make sure that if the tax authorities pay a visit there are no surprises. We can also help to reduce payroll costs to the business in certain circumstances.

Financing

We have a real skill in advising on financing issues at every stage of the business, from start-ups to large, established groups. We can help prepare trading and cash flow forecasts or assist in developing a business plan for the purpose of raising finance. We can also advise on the most appropriate type of finance for the business and actively help in raising the finance itself, whether equity funding, mezzanine finance, senior or other debt. We can prepare presentations and information memoranda for potential funders who will have the comfort of knowing that professionals have been involved. We can advise on optimum gearing levels, working capital and treasury management.

Transaction services

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.

    Consultancy

    Consumer tastes and buying patterns are changing rapidly and, along with technology advances, are forcing hotel operators and owners to adapt their practices and processes. 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. Effective human resource solutions and retention of high performing employees are often the keys to creating significant future value for an organisation.

      Our team of hotel consultants is available to help convert the opportunities for commercial success and make sure a business does not fall behind. Examples of just some of the areas where we can advise are:
        • Operational and financial analysis
        • SWOT analysis
        • Sales and marketing
        • Pricing strategy
        • Yield management
        • Human capital creation and maintenance
        • Strategic planning and implementation
        • Distribution channels and customer loyalty
        • Benchmarking
        • Outsourcing
        • Insurance.

      Litigation support

      Commercial arrangements can be difficult to manage, especially when there is an expectation gap that results in arbitration or litigation. Our team includes experts who can be called on to help resolve disputes or assist in formal arbitration or litigation. Whilst we believe that disputes are far better resolved out of court we can also provide expert witnesses to support a client if required.

      IT

      We can advise on the most appropriate front of house and back office systems to achieve the lowest cost/highest benefit solution. Our suggestions are practical and business-oriented, and take into consideration the existing system and any shortfalls. We aim to find innovative low cost options for achieving the objectives.

        Our Business Intelligence solutions provide decision-makers with fast and easy access to the right historical information ensuring more informed decisions are made based on accurate up to date analysis. Our statistical modelling solutions then help you plan with significantly greater levels of insight, safe in the knowledge that all your data, be it analysis or forecast, is captured and held securely.

        New opportunities

        Through our research team we have details of a wide variety of market intelligence which is available, much of it free of charge or low cost. Because we know and understand the sector we can help obtain the information that is most relevant, saving valuable management time and expense.

        Insolvency planning

        It is commercial reality that businesses will fail, sometimes due to poor management but more often due to unexpected circumstances or new competition. Our corporate recovery team can look at the options available for a business under pressure and advise on the best course of action, whether a sale, refinancing or strategic redirection.

        Risk management and corporate governance

        In the current business environment, risk management has never been so important. It can make the difference between success and failure. Whilst some risks can be dangerous, others can be positive as without them there are no rewards. Striking a balance can be challenging. For owners who are not active managers within the business, knowing that a proper risk management policy and strategy is in place gives great comfort.

        We can hold workshops to train staff in how to identify, manage and control risk to minimise problems, and ultimately put in place a proper risk register and strategy. For larger operations we can design a full corporate governance framework, including audit and remuneration committees if necessary, to give optimum comfort to external investors. We can also provide internal audit services and a tailored internal audit plan as a way of identifying and controlling risks, so supporting management.

        Other services

        The following discrete services are also available:

        Our services to the hotel sector are available through all major offices. For information on how to make contact please call +(44) 207 651 1581, or email hotels@moorestephens.com. Alternatively, please contact your nearest Moore Stephens member firm (see www.moorestephens.com).

        To find out more about how we could help you, contact:
        Paul Stockton or Mark Henderson

        download our hotels brochure.

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