There are a number of key roles an independent advisor can fill for a hotel business. Whether it’s acting as an independent party in joint ventures scenarios or being the eyes and ears for foreign owners, having the right advisor on board who has seen it all before can be a valuable addition to your team.
When speaking with clients we sometimes find that spiralling operational costs have become a barrier to achieving their goals, whether it’s profitability, expansion or sale. We have recently worked with a hotel whose in-house finance function had become cumbersome and this was proving a barrier to a potential transaction. By transferring the finance function to us, their overhead costs were reduced by nearly 70% and the business quickly became an attractive target for sale.
Whilst many of our clients are audited by the ‘Big 4’ or other larger, we regularly work with clients to ensure that the audit runs as smoothly and as painlessly as possible. We coordinate all aspects of the year-end audit process and are seasoned in providing a detailed audit pack to facilitate an efficient audit process.
Our services fall into three principal categories:
- Investor level reporting: Production of consolidation reports of individual hotel operations, incorporating key corporate, investor-related and financing transactions and adjustments to accommodate group reporting requirements and statutory compliance.
- The full outsourced Finance Function: This provides an end-to-end online accounting solution that automates the collection of data directly from your suppliers and in-house systems, feeding directly into the accounting system to providing bespoke online reporting to stakeholders. Clients who have outsourced their full finance function have seen significant reductions in their overall finance costs.
- Project oriented assignments with specific outputs: Often investigatory in nature these will generally focus on specific problematic issues, including agreed due diligence procedures.