The hotel industry has undergone a significant transformation in recent years. Technology has enabled hotels to pursue fluid, aggressive pricing models to maximize revenue and profitability, while an influx of competition from outside of the traditional industry has increased bed supply and brought new competitive threats. Succeeding in the hotel business requires managing people, facilities and markets on an ongoing basis while never losing focus on the customer experience.
JPS help clients in the hotel industry navigate the ever-changing economic and financial landscape of their industry. Our team provides tax, audit, accounting and advisory services to help you understand the impact of your market challenges, optimize your revenue and profitability models, and remain compliant with state and federal tax laws and regulations.
Hotel Accounting Services
We help hotel clients with key issues affecting their current and future success such as:
- Property and equipment – there are significant opportunities in the tax rules to expense or segregate costs for optimal depreciation, and hoteliers are often in the best position to realize these benefits.
- Significant growth in the region – business and economic growth in western North Carolina continues to spur opportunity in the hotel industry, while plans for the construction of a significant number of rooms will challenge the fortitude of existing operators. Opportunity exists for those that stay one step ahead in a changing market.
- Internal controls and fraud prevention – no organization is immune to fraud, but well-designed and monitored controls can mitigate your risk and protect your business.
- Reporting and oversight – internal and external stakeholders require accurate, timely and reliable financial information to drive critical decisions.
Find out how JPS can be a strategic advantage for your business.