Hospitality

Raising the Bar

We have developed a suite of specialised services for the hospitality industry. Our knowledge of your business environment ensures you have access to a business partner who is committed to working closely with you ‘on tap’ when you need us.

We currently work with our hospitality clients to provide:

  • Weekly and Monthly Financial Reporting: Regular reporting to managers and owners, to allow for timely decision making and planning.
  • Audit and Assurance: An independent and commercially sound overview of performance.
  • Financial Ratio and Variance Analysis: Analysis of major profit and loss items to quickly identify trends and isolate periods or departments with unusual results.
  • Annual Reporting and Compliance: Timely and accurate year end financial reports and income tax returns, as well as liaising with the Australian Taxation Office on any tax issues.
  • Tax Planning: Ensuring tax effective structures and operations.
  • Staff and Payroll Support: Specialist assistance with payroll accounting software and advice on statutory regulations regarding employees.
  • Management Accounting Solutions: Regular liaison with internal accounting staff to ensure the consistency of financial records to optimise efficiency.
  • Cashflow Analysis: Assessing the cash impact of financial transactions, empowering you to make timely and correct decisions regarding allocation of resources.
  • Financial Planning: Financial planning expertise to identify the products which will enable you to gain optimal utility from your earnings and protect your assets.
  • Budgets & Forecasting: Analysis of past performance and industry trends to forecast future revenue and expense items for effective planning, as well as variances between budgeted and actual performance.
  • Due diligence: Review of all available financial and managerial information for a hotel to determine its true maintainable earnings. We strive to achieve maximum value for money on any potential investment. Upon sale, we also ensure that sufficient value has been added in order to maximise proceeds.
  • Change of Ownership: We have found that two of the most complicated processes publicans face are opening and closing a hotel. We have implemented systems to ensure that these transactions are as smooth as possible without jeopardising the integrity of accounting data.
  • Strategic Partners: Our team has established links with other professionals who also specialise in the hospitality industry. These include legal advisors, business brokers, property agents, valuers and business bankers.
  • Distress Management and Advice: Assessment of cash flow issues, possible solutions and restructure through informal process or formal appointment. This includes liaising with all stakeholders from shareholders to lenders and trade suppliers.

Benchmarking

Benchmarking is one of the most valuable services we provide to our hospitality clients. By investing in research and developing relationships with industry experts, we have established a comprehensive set of key performance indicators. Using these measures we are able to identify potential opportunities based on your unique strengths, as well as quickly isolate departments which are underperforming in the market.
 

Hospitality
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Who can help

For more information about our Hospitality, please contact: