Hotels and tourism
BDO’s hotel and tourism industry experience is extensive. Tourism is at the core of Australia and is without question one of the key industries driving Australia’s economy. The industry continues to grow, driven by both domestic and international tourism. Although the outlook is positive, these are changing times in regard to staffing resources, pricing, consumer demand for services and consumer confidence.
Our hotel and tourism industry team understands these challenges, with capability which extends to all business types within this sector, including hotel groups, resorts, travel agents and tourism operators. Travel agents face competition from aggregated online platforms, while tourism operators must diversify to offset downturns in demand resulting from travel restrictions. The tourism industry must remain agile, and develop resilience to keep up with consumer trends.
Hotels and resorts can take advantage of slowly increasing tourism activity and steady investment from global accommodation companies but will have to manage strong competition from serviced apartments and sharing economy platforms, while navigating away from an ownership structure towards management arrangements.
How BDO can help
We take the time to understand our clients, their goals and the challenges they face. We work with clients to implement actionable insights that make a difference to their business. Whether assisting with the internal audit of a hotel group, assessing the tax implications of a large tour operator or performing the due diligence to acquire additional businesses to grow a group, our team understands the industry and the unique approach required to support tourism businesses achieve their goals.
Our team of industry experts provides a complete range of services including:
- External and internal audit
- Data analytics
- Corporate finance and financial modelling
- Business restructuring
- Indirect tax advice
- Employment tax
- Minimum wage and award compliance reviews
- Corporate governance
- Forensic and fraud investigations.
BDO’s experienced team can also draw upon the insights from our relationships with the Accommodation Association of Australia (AAOA) and the Queensland Hotels Association (QHA).