As a restaurateur, hotel, or food and beverage operator, you know that the guest’s experience with your brand has a direct effect on your success. Holding to your vision in a competitive, margin-sensitive industry is critical. CohnReznick’s Hospitality Industry practice serves you with advisory, accounting, and tax services to support your growth strategy and to increase controls and profitability through all stages of your business lifecycle.
Global client baseOur clients range in scale and include restaurants, hotels, technology companies, private equity firms, investment banks, and corporate and privately held companies in the U.S. and around the world.
Diverse experienceWe work across the business spectrum – emerging-concepts, independents, large multi-unit chains, franchisors and franchisees, celebrity chefs, property developers, management companies and hotels.
On top of trendsWe’re proactive in understanding the challenges and changes in the industry so we can better advise clients and prioritize business opportunities from the back of the house to the front.
We are regularly called upon as experts for national and regional publications and industry associations, events, and industry groups including:
- James Beard Foundation
- Modern Restaurant Management
- NYC Hospitality Alliance
- Hunter Hotel Conference
- Nation’s Restaurant News
- The Restaurant Finance & Development Conference
- Multi-Unit Foodservice Operators Conference (MUFSO)
- National Restaurant Association Show
- Bloomberg Intelligence
Operational consultingOur optimization process reviews your business from a holistic perspective with a goal of improving bottom-line results. All aspects including concept development and design, marketing strategies, menu management, staff training, labor restructuring, licensing deals, joint ventures, and/or new landlord-tenant relationships can fall within the scope of evaluation.
Profitability enhancementEstablish an action plan to grow your business through our proprietary Profit Enhancement Programs (PEP). After a thorough analysis of your operating processes and systems, financial data, and internal controls, CohnReznick’s PEP will focus on increasing efficiencies, tightening governances, and streamlining reporting.
F&B operations improvement
Using benchmarking, fieldwork, team assessments, and other proven methodologies, we evaluate all major aspects of your food and beverage operations. We then recommend actions to drive your core values, reduce excess costs, improve technology and other systems, and execute new concepts to strengthen financial performance.
The private company deadline for implementing the new lease accounting standard is rapidly approaching. There are significant advantages to working with a firm having practical, proven experience in advising and assisting organizations in their efforts toward transitioning to Topic 842. Our team can advise and assist on all aspects of the new lease accounting standard, including implementation. Our detailed plan will focus on potential challenges and risks along the way.
InsightIntroducing Hospitality Quarterly: Strategic insights for transforming your businessCindy McLoughlin, Stephen ManciniFind restaurant technology benchmarking; solutions for boosting FP&A and operations; transaction and SPAC trends; and more in this Hospitality Quarterly report.
InsightThe Restaurant Revitalization Fund and other hospitality-related updates from the American Rescue PlanStephanie O’Rourk, Taylor SphonRead about the Restaurant Revitalization Fund – rules on eligibility, grant amount, and more – plus tax credit changes and other Act highlights.
InsightIRS issues guidance for restaurant entertainment expenses, now fully deductible through 2022Joel BoffTo assist restaurants’ COVID-19 recovery, expenses for food and beverages provided by restaurants are 100% deductible through 2022. Learn what counts as a restaurant and more.