Sep 29, 2020
Resort Budgeting Tips in the New Normal
Deep Industry Experience
At Withum, our depth of experience in the hospitality industry ensures that you stay on the path to success.
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Hotels
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Owner Associations
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Vacation Ownership
An evolving industry offers great opportunity and, at times, difficult challenges. Recent 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.
Catering to Your Needs
Managed Services
Juggling guest expectations while troubleshooting systems and cloud services and safeguarding IT infrastructure can be overwhelming. Utilizing managed services for the hospitality industry can create efficient, effective and secure operations.
Risk and Security
Guests want security – at night when they sleep, for possessions in their rooms and most importantly, when they share personal identifiable information (PII) when booking. Protect your business and reputation with cyber and information security strategies.
Data-Driven Experience
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.
Case Studies
Learn how Withum helps hospitality businesses grow and thrive by aligning goals to achieve profitable growth.
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