Hospitality

Snyder Cohn: A Welcome Partner for Accounting and Financial Services

From fixed assets and occupancy rates to construction accounting and managing multiple revenue streams, companies in the hospitality business have a unique set of business requirements, and Snyder Cohn has years of experience serving these companies.

Snyder Cohn understands key trends and challenges that are impacting hospitality firms, including:

• With their lower level staff, hospitality firms must strike a balancing act between relatively low wages and high employee turnover. Investments in training and management-track programs can reduce turnover and increase customer satisfaction, however there must be a specific anticipated return on investment for each of these initiatives.
• Energy and sustainability issues are another area in which hospitality firms must make calculated investments in order to meet guests’ expectations, while maintaining profit margins by ensuring those guests are willing to pay a premium for giving their business to “green” properties.
• The continuous cycle of repairs and refurbishing requires companies in the hospitality industry to effectively manage and deploy capital. Firms must expect tight credit conditions which can compound access to financing.