Hospitality, Leisure and Tourism
The hospitality, leisure and tourism industry is one of Australia's largest and fastest growing service sectors.
Mazars is widely recognised as a leader in the provision of hospitality, leisure and tourism related accounting services.
We offer a range of advisory services to hospitality, leisure and tourism clients in addition to the traditional accounting services. We help clients with resort, hotel and motel operations, tourism operations, restaurants and gaming licenses, integrated leisure facilities and developers of tourism projects to reach their full potential.
Our services include:
Budget and Forecast Preparation
- Budgeting at business and divisional level
- Comparison to industry benchmarks to identify improvement areas
- Performance analysis to instill business management discipline
- Cashflow forecasts to ensure management of working capital
- Setting appropriate key performance indicators to measure success
- Management reports to highlight KPI results and budget vs actual
- Business improvement identification and strategies to execute
- Development of best practice business management systems
- Hotel systems review including accounting, POS and stock control systems
- Change management advice and implementation support
- Procedures review including stocktake, till & safe count, daily takings
- Development and training finance staff so management information is timely and accurate
Business expansion advice
- Due diligence of vendors’ financial records and business integrity
- Sale and purchase advice on all matters leading up to settlement
- Contract review and transaction tips to avoid nasty surprises
Specialist Hospitality Consulting
In this highly competitive and capital intensive industry, venue owners and operators need to be constantly optimising revenue drivers and closely managing expenses with a keen eye on deriving a return on investment.
Independent venues, that don’t have the benefit of centralised finance, marketing and operations experts, often miss out on accessing the strategic support that is important to maintain profile and appeal in an often fickle and competitive market.
We have extended our specialist team with the addition of consultants to provide independent venue owners and operators a holistic finance, marketing and operations capability.
Our hospitality consulting multi-disciplinary review goes "beyond just the numbers" to independently assess the overall venue health, providing clarity of direction moving forward. To ensure correct action, we provide a detailed recommended action plan to that once implemented can improve venue value
Finance Facility Review
A general finance facility check-up is worthwhile for any business relying on consistent bank funding, however it’s particularly important if your business is experiencing any of the following:
- Additional expansionary funding requirements
- Poor relationship with your current banker
- Increased requirements for the business to hold inventory
- Recent strong business performance with no corresponding change in banking terms
During a finance facility review our specialists will gain an understanding of your business funding requirements, the general suitability of facilities being used, the market competitiveness of your arrangements, any pain points you are feeling in your banking relationship and either identify opportunities to enhance your finance facility arrangements or affirm you are well structured.
A finance facility review may result in:
- determining the suitability of facility structures for current and future needs
- identifying areas to restructure facilities to save interest
- Providing independent assessment of rate and fee competitiveness
- Identifying areas of opportunity for private equity and investment
- Identifying business improvements that can generate new markets and efficiencies in the business cashflow
- Identifying opportunities for re-valuation to improve terms
- Facilitating discussions with your bank manager to provide owners with transparency and translation of the Banks position on credit and security risks of the client
- Obtaining clear feedback from the Bank on ‘what they’re really thinking’ and mediate an outcome to reduce current friction
- Providing timely covenant reporting
- Formulate strategies to reduce your ‘risk rating’ with the aim of reducing interest margin loading.