CohnReznick's Hospitality Industry Practice works with several hundred hospitality companies on a national level. From emerging concept companies to national chains, we offer unparalleled experience and intellectual capital. As leaders in the hospitality industry, clients look to us for the industry insights they require to manage a successful brand in today’s ever changing environment.
We stay on top of industry trends and understand the business issues facing our clients. Since we work with leading hospitality companies, we have hands-on experience that enables us to be recognized as value added advisors. Clients can take of this knowledge by leveraging:
- Access to capital: We have strong relationships with private equity funds, joint venture partners and other capital sources.
- Profit Enhancement Program: This program helps restaurants identify and prioritize profit improvement opportunities from the” back of the house” to the “front of the house” by examining operating processes and systems, financial data and internal controls. Based on management’s objectives, we establish an action plan to increase efficiencies, tighten governances and streamline reporting in an industry standard format.
- Industry specific tax planning and tax credit strategies: There are numerous opportunities and pitfalls in the hospitality industry. Our team has in-depth knowledge of the tax code and the issues the hospitality industry faces. Moreover, we can identify the potential benefits of tax credit programs for initiatives that may include renewable energy or historic preservation.
- Benchmarking analysis: We can conduct comparative performance analyses against similar operations and concepts to identify inefficiencies and areas to target for cost reduction.
- Quality of earnings and due diligence related to merger and acquisitions: As a leader in the industry we advise the capital markets on acquisition strategies and opportunities to consider.
- Global owner-operators: We have helped numerous hospitality companies navigate complex tax regulations and accounting issues when they choose to expand across borders.
- Operational and management consulting: Our team has real life experience and is able the bridge the gap from financial data to the real life operations. We can implement strategies that financial data may dictate. We have advised clients on a wide array matters such the scalability of their IT systems to the best ways implement an employee retention program and or the exposure for new health care regulation.