Tourism, Hospitality and Leisure
Our Tourism, Leisure & Hospitality (TLH) team provides specialist accountancy and business advisory expertise to a wide variety of businesses across the Sports and Leisure, Hotels and Tourism and Pubs and Clubs sectors. Our experts use their extensive industry knowledge and expertise to deliver tailored, timely, and pragmatic advice to clients.
Changing and challenging operating tourism and hospitality landscape
The Tourism, Leisure & Hospitality industry is operating in an ever-changing landscape. As an advisor and thought leader, BDO is heavily involved in assisting businesses in this sector to understand and respond to the changes and challenges ahead.
Our key focus is assisting our clients to improve their day-to-day business performance, recommend and implement operational efficiencies, understand and meet regulatory and compliance responsibilities along with identifying and responding to critical issues. We understand the need for these businesses to have trusted advisers who understand the challenges and are ready to maximise opportunities.
Improving day to day business performance
In today’s highly competitive environment, Tourism, Leisure & Hospitality businesses should be continually striving to improve operational efficiencies, whilst maintaining premium customer service. BDO’s experience has resulted in the development of a number of key operational measurements and benchmarks that are tailorable to a variety of organisations. This experience and understanding best places us to assist our clients with practical and relevant advice, which results in a real difference to the bottom line.
The need to innovate
A highly competitive environment in this sector creates a growing need to innovate systems and processes across the operations of a business. The evolution and availability of data and the systems used to interpret and report on this data provides a unique opportunity for businesses in this sector to innovate and get ahead. BDO technology advisory team has extensive experience in all areas of data management from system and information flow reviews to business intelligence and visualisation, which all help businesses in this sector make thoughtful and timely decisions.
Regulatory and compliance responsibilities
Due to the very nature of this industry, understanding and meeting regulatory and compliance responsibilities is key to operational integrity and maintaining a good reputation. Addressing regulation and compliance can be complex. Often this complexity leads operators to misinterpret their responsibilities and obligations. BDO guides our clients through the required regulatory and compliance responsibilities, by conducting independent reviews against compliance guidelines and best practice, or assisting with annual reporting and compliance obligations whether it be audit, tax or regulatory related.
A changing operational landscape typically highlights critical issues for businesses to focus on and address. Data quality, data protection and mandatory data breach obligations are the critical issues that businesses in this sector need to understand and deal with. BDO’s technology advisory team has assisted many clients within this sector with full cyber resilience reviews tailored to them.
The future should not be ignored. Businesses within the Tourism, Leisure & Hospitality sector need to forward plan and evolve their appeal to the changing demographic and economic environments. Strategic thinking and planning is key, and BDO’s team of advisors specialise in assisting businesses in this sector to set their strategic agenda and direction, develop achievable goals and provide the necessary advice to enable the achievement of these goals.
We understand that each area of the Tourism, Leisure and Hospitality sector faces its unique challenges and opportunities and we have developed a strong team to service each individual sub-sector.