Leisure, hospitality and travel

Our Leisure, Hospitality and Travel group act for bars, restaurants, pubs and travel businesses of all sizes, from start-ups to substantial private and public companies.

We provide a whole range of accounting services including business advice, audit, tax and corporate finance.

We have developed a deep understanding of the complexities, pitfalls and issues businesses in the industry face, which enables us to offer practical, realistic advice and share areas of best practice to help our leisure, hospitality and travel clients succeed.

Regular contributors to Caterer & Hotelkeeper magazine, and business partners to the Institute of Hospitality, we offer practical, commercial advice, taking into account the legislative and statutory position as well as the operational and practical issues.

We are often a sounding board for our clients, not just on accounting issues, but general commercial and legal areas too. If you are opening your first site, or need assistance in how to take the next step in operations and strategy to branch out with multiple sites, or even how to go about developing an exit strategy, we can help.

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Hotels

We understand that hotel businesses need a multi-disciplinary team of advisers and accountants, one that understands both the hospitality industry and the property sector. By working closely with our hotel clients we build up a strong understanding of their business and use our unrivalled sector knowledge to help improve margins, monitor cash flow and structure property investment or development correctly to mitigate tax and maximise allowances.

For a business to which service is paramount it is vital that the hotel’s operations run smoothly. As experienced advisers and hotel accountants, we work closely with our clients in this area, providing strategic and practical advice on budgeting and forecasts, identifying major spending inefficiencies and cost leakage, as well as advising on employment issues. Our specialist consultants are also able to offer IT and systems advice, ranging from the design and development of business continuity solutions to information security systems, data storage and areas of e-commerce such as EPoS and PCI.

We advise our hotel clients on specialist areas such as:

  • Sale and purchase of hotels and hotel businesses
  • New hotel developments
  • Stamp duty and capital allowances
  • Raising finance
  • Budgeting, business plans and cash flow management
  • HR and employment issues, including staff retention, motivation and minimum wage legislation
  • Franchise advice
  • Supply chain management
  • IT systems and e-commerce

Restaurants, bars and pubs

With fierce competition in the sector, restaurants, bars and pubs need experienced advisers and accountants who understand the issues affecting profitability and cash flow. We have been working closely with our restaurant, bar and pub clients to ensure that all opportunities to maximise cash flow and minimise financial risks have been considered, whilst retaining a practical and commercial approach. With advice on how best to improve margins or to ensure return from investment in new equipment or a building project, our team can help to take the strain.

In addition to traditional accounting services, we offer advice on areas such as:

  • Cash, supply chain management and stock control
  • TRONC and minimum wage legislation
  • Staff retention and motivation
  • IT systems and e-commerce (EPoS and PCI)
  • Property acquisitions, stamp duty and capital allowances
  • Franchise advice
  • Business financing and leasing
  • VAT and PAYE investigations and healthchecks

We work with clients ranging from major national chains to independent, local businesses. We also contribute regularly to Caterer & Hotelkeeper magazine, and, as business partners to the Institute of Hospitality, offer specialist services to its members.

Travel agents and tour operators

Our travel team are experienced in working with industry professionals including travel agents and tour operators. Our clients range from start ups through to substantial businesses and we know how to help them through each phase of their growth. We understand the business issues that entrepreneurs face and can help them to succeed and achieve their objectives. Our practical, value for money advice is in three main categories:

  • Financial
  • Regulatory
  • Taxation

Financial

In a sector where margins are thin and invariably under pressure, cash is most definitely king so we can help clients with the design and implementation of management information systems that incorporate tools to monitor cashflow. During the early days of a business we can provide a management accounting service complemented by the analysis of key financial information.

We can help with fundraising for expansion, work with clients to assist with acquisitions and help them to achieve maximum value on an ultimate exit from the business.

Regulatory

The travel industry is highly regulated; we understand, and can advise on, how to meet the financial aspects of those regulations. We can help with the preparation and submission of returns to your regulator and can assist with resolving any issues that arise from time to time.

Our specialist consultants can provide reviews of your internal systems to highlight areas for improvement where, for example, the business may be exposed to potential fraud. Our analysis can also ensure that your systems are properly designed to capture and report information to your regulator.

Taxation

We start by gaining an in depth understanding of your personal and business objectives and then advise on the best structure for your business. As your business grows, we advise on efficient profit extraction, the best way to acquire assets, pension planning and VAT.

We advise on meeting the special VAT rules that apply to the travel industry, such as the Tour Operators Margin Scheme (“TOMS”) which have changed recently.

Lead Contact

Chris Hughes

Partner
+44 (0)20 7566 4000
Email: Chris Hughes

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