Hospitality is a fast-paced, fascinating but challenging industry that has become a true passion for many of us at Ecovis Wingrave Yeats.
Servicing hotels, restaurants and food and drink businesses, we revel in the challenges presented to us each week. Whether it’s getting a restaurant concept off the ground or finding efficiencies for a larger hotel, the Hospitality team can offer you knowledge gained over years of experience to ensure your venture is a success.
We can offer business advice on strategies for expansion and restructuring through to exit, as well as assisting you with the production of critical financial information to help your decision making.
Using our specialist sector knowledge coupled with 30 years' accountancy and business consultancy know-how, we have also developed an online accounting solution, tailored to the Hospitality sector. It enables:
Integration with F&B and EPOS systems
Efficient, paperless data processing
Advanced reporting capabilities to monitor performance of multiple sites
Working in London's Soho, we're immersed in the hospitality industry on a daily basis. Staying connected is at the core of what we do, and we are very pleased to work closely with Robert Milburn who brings further expertise to our hospitality offering.
How We Can Help
The breadth and depth of our expertise allows us to offer a broad range of services.
Keeping operational costs at a profitable level can be challenging for hotel businesses and stop some goals from being achieved. By outsourcing the finance function we can significantly reduce your overhead costs.
Trends such as pop-up restaurants and crowd-funding are creating an atmosphere of innovation and increased competition in the restaurant sector. To stay ahead it is important to work with advisors who understand your business and industry life cycle.
We had a situation where Marcum were our group PCAOB auditors based out of New York and KPMG were our UK auditors. This left us in a painful situation where all of our numbers, regardless if they were the same under different GAAP regimes, were being audited twice. As well as incurring unnecessary cost, this meant complete inefficiency from the standpoint of my team’s time. I approached Marcum to come up with a better solution and together with Ecovis they have nailed the brief. Other than GAAP differences, all substantive work only takes place once as the UK team leverages the work of the US team. Regarding these GAAP differences and local UK reporting, where more questions are naturally needed from the UK team, I have found Ecovis’ questions very relevant and their approach sensible and pragmatic.
EVP & Chief Financial Officer
Inspired Entertainment Inc
We are privileged to work with a broad range of clients, from small partnerships to large corporates across our chosen sectors.