Leisure and hospitality

Many, from restaurants and hotel chains to leisure resorts and global travel companies, are thinking not only about the short term but how to thrive in the long term.

You may want to re-evaluate aspects of the business – whether to expand overseas, boost marketing, analyse costs or invest for the future. To get these right, Kreston can analyse your business operation and identify where efficiencies are needed and where strong potential lies.

Some may be unsure about the best way to expand their business internationally. This exciting prospect is one of our specialities. Our teams of trusted experts worldwide understand their markets and can provide an integrated service for you across our global network.

Family-owned businesses build their reputations over many years – and their future is even more important. We build trust and long-term partnerships to help in critical areas such as succession planning, incentivising your management teams and coaching.

Financial consultancy for leisure and hospitality businesses

At Kreston Global, our member firms can provide complete and comprehensive accounting support for leisure and hospitality businesses. Our specialists are informed through our network’s in-depth research, providing locally effective services informed by global insights. We understand that each business is different, tailoring our services to meet the needs of your team and how you contribute to the leisure and hospitality sector. Here are some of the myriad ways we work with businesses like yours around the world:

Cash flow

Effective cash flow management is crucial for leisure and hospitality businesses, where the timing of revenues and expenses can shift significantly through the seasons. Our member firms can help you maintain liquidity and operational efficiency by offering tailored solutions to manage cash inflows and outflows, avoiding shortfalls. We can help identify areas of excess cash, recommend cost-saving strategies, and provide insights into how to manage your receivables and payables better, ensuring smooth day-to-day operations without compromising long-term growth.

Forecasts and budgets

Leisure and hospitality businesses often operate in dynamic environments, with demand varying based on holidays, events, and economic factors. Developing accurate financial forecasts and budgets is essential for staying competitive and financially resilient. We work closely with you to create forward-looking financial plans that align with your business goals, incorporating industry trends and market analysis. Whether you’re planning for peak seasons or preparing for potential downturns, our forecasting and budgeting services provide clarity and direction, helping you allocate resources effectively, set realistic performance targets, and make informed decisions.

Specialist leisure and hospitality accounting and tax advice

The leisure and hospitality industry is complex, with unique tax considerations, regulatory requirements, and operational challenges. Our accountants specialise in providing tax and accounting advice tailored specifically to the needs of hotels, restaurants, event venues, travel operators, and other leisure businesses. From managing VAT and sales tax compliance to optimising your tax structure, we offer expert guidance on navigating industry-specific regulations. Our team can help you minimise tax liabilities, maximise deductions, and ensure compliance with ever-changing local and international tax laws, allowing you to focus on what matters most—growing your business.

Overseas VAT, transfer pricing and payroll

As your leisure and hospitality business expands internationally, managing VAT, transfer pricing, and payroll across multiple jurisdictions becomes increasingly complex. We assist you in navigating the nuances of overseas VAT rules, ensuring compliance with tax laws in different countries and avoiding penalties. Our member firms also specialise in transfer pricing, helping you structure intercompany transactions and allocate profits in a way that complies with international tax regulations. Additionally, we provide payroll services that address the unique challenges of managing employees in multiple locations, ensuring timely and accurate payroll processing and adherence to local labour laws.

International subsidiary tax structuring and planning

For businesses with international operations, tax structuring is crucial to minimising tax burdens and ensuring the efficient flow of profits across borders. We assist leisure and hospitality businesses in designing tax-efficient structures for international subsidiaries, taking into account local tax laws, international treaties, and the economic realities of the hospitality industry. Kreston’s experts help you plan for the repatriation of profits, manage foreign tax credits, and optimise your global tax position. We work with you to develop strategies that minimise risks, reduce costs, and ensure compliance with international tax obligations.

Growth and exit plans

Whether you’re planning to expand your leisure and hospitality business or considering an exit strategy, Kreston Global can provide expert advice to help you navigate each phase of your business lifecycle. Our team helps you assess potential growth opportunities, such as mergers, acquisitions, or organic expansion, and develop a strategy that aligns with your long-term goals. For those considering an exit, we provide advice on structuring the sale of your business to maximise value, minimise tax liabilities, and ensure a smooth transition. We can guide you through due diligence, valuation, and negotiations to help you achieve the best possible outcome.

Obtaining finance

Access to capital is often essential for growth in the leisure and hospitality industry, whether you’re funding new projects, refurbishing existing properties, or expanding your operations. We help you navigate the complexities of obtaining finance, from preparing financial statements and business plans to identifying potential funding sources. Our team has extensive experience working with banks, investors, and private equity firms, and we can help you structure your financing package in a way that maximises your chances of success. Kreston can also provide advice on the most suitable financing options, whether through debt, equity, or hybrid models, based on your unique business needs.

Overseeing business acquisitions

Acquisitions are a common path for growth in the leisure and hospitality sector, but the process can be intricate and challenging. Our team provides end-to-end support in overseeing business acquisitions, from identifying potential targets to closing the deal. We assist in due diligence, financial analysis, risk assessment, and structuring the acquisition to ensure it aligns with your business strategy. Our international experts also help negotiate the terms of the deal, ensuring that you’re making a sound investment that will enhance your portfolio. Whether you’re acquiring a hotel, restaurant, or other leisure asset, we can help you navigate the complexities of the acquisition process.

Sales transactions

When it’s time to sell your leisure or hospitality business, having the right advice and support is crucial to achieving the best possible return. We assist with every aspect of sales transactions, including business valuations, structuring the sale, tax implications, and negotiations with buyers. Our global team works to ensure the transaction is tax-efficient, minimising your liabilities and maximising your financial outcomes. We also guide you through the sale process, ensuring that you meet regulatory requirements and that the transition is as smooth as possible for both you and the buyer.

Each of these services is tailored to meet the unique challenges faced by leisure and hospitality businesses. Whether you’re looking to optimise cash flow, growth plan, or navigate the complexities of international tax and finance, our expert team is here to help you thrive in a competitive and ever-changing industry.

What are Kreston Global’s professional standards in the leisure and hospitality space? 

Kreston Global members observe the local professional standards of their respective countries as well as complying with international regulations. Our effective internal monitoring programme ensures all our partners meet the International Standards on Quality Control as well as the International Standards on Auditing when conducting transnational audits. Kreston Global teams proudly follow the code of ethics as dictated by the IESBA (International Ethics Standards Board for Accountants).

As a member of the Forum of Firms, an association of international networks of accounting firms, Kreston Global is dedicated to meeting the highest of standards in financial reporting and auditing practices across our global community.

Why choose Kreston Global’s leisure and hospitality financial services?

Kreston Global stands out for its deep industry expertise and global reach. Our interconnected network of professionals provides real-time insights into the leisure and hospitality sectors, empowering businesses to expand sustainably.

We leverage our extensive knowledge and experience to offer tailored solutions that address the specific challenges you face. With Kreston Global as your partner, you gain access to a wealth of resources and expertise that will help drive your business forward in a competitive landscape.