An evolving industry offers great opportunity and, at times, difficult challenges. Recent hospitality industry developments and changing consumer behaviors have led to the need for businesses to adapt and overcome challenges to ensure success. As hospitality companies are faced with balancing rising operating costs and seasonal trends in an effort to maximize profitability, guests are constantly looking for fresh and innovative offerings that enhance their experience with brands.
Let Withum’s Hospitality Services team members help you make the right decisions to efficiently run your business so that you can focus on providing the exceptional five-star service your customers expect. As trusted advisors to hospitality and hotel clients ranging from small, local associations to large, international companies, we are dedicated to providing the skills and resources of a national firm with the outstanding service that our clients have come to expect.
Who We Help
- Hotels ranging from small, boutique to large, international chains
- Owner Associations including HOA’s, Multi-Use Condominiums, Large-Scale associations, Commercial Condos and Cooperatives
- Vacation Ownership including Timeshare Developers, Associations, Management Companies and Exchange Companies
Catering to Your Needs
Hospitality businesses may benefit from tax-saving opportunities such as a property cost segregation study resulting in improved cash flow.
Cyber and Information Security
Cybercrime can critically impact your hospitality business and reputation among consumers. Protect your business and safeguard guests personal identifiable information with comprehensive cyber and information security strategies.
The experience economy is real, and the millennial generation is pushing that transformation. Using data to sell your destination as an experience rather than a destination is a powerful tool. Grow your hospitality business by making smarter, data-backed decisions.
Innovative Hospitality Accounting and Advisory Solutions
Success in an evolving industry demands customized services that are tailored for your specific business needs. Withum’s team of hospitality accountants and consultants know that diversified knowledge and specialized services are paramount to staying ahead of the curve. We offer a suite of hospitality-specific accounting, tax and advisory solutions that help you make smarter business decisions and improve your bottom line.
Hospitality Accounting Services
- Accounting and financial audits
- Agreed-upon procedures
- Budgetary consulting and forecasting
- Compliance with federal and state regulations
- Fee-for-service modeling
- Gross receipts and concession audits
- Ground lease audits
- Outsourced accounting
- Research and development tax credits
- Tax services
Hospitality Advisory and Consulting Services
- Cost segregation studies
- Cybersecurity assessments
- Forensic accounting and fraud investigation
- Internal control analysis
- Litigation support
- Management advisory services
- Purchase price allocation (PPA) studies
- Rental occupancy testing
- SOC audits
Hospitality Resources
Best Practices for Weathering the Worst Conditions
Preparing for the unexpected is crucial for business recovery when disaster strikes. Having the right plans and steps in place to protect business continuity can help ensure you’re better equipped to weather the worst conditions.
Competitive Benchmarking at Your Fingertips
Identify potential problem areas and get insights on improving your resort’s overall financial health. Withum’s annual Timeshare Benchmarking Study conducts a comparative analysis of timeshare associations’ financial performance to help you stay informed on current financial trends among your peers.
Hotel Case Studies
Industry Involvement
Withum's Hospitality Services Team members are actively involved in national and regional centers of influence.
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