Helping Hospitality Businesses Focus on Their Guests

The hospitality industry is a specialized one with unique needs. Private clubs, restaurants, hotels and resorts succeed by running an efficient operation and staying on top of complex accounting responsibilities, all while providing guests with a delightful, stress-free environment. To remain strong, organizations like yours need the support of professionals who understand the challenges you face and the competitive business landscape in which you operate.

PBMares knows your industry and its unique hurdles. We help hospitality-focused organizations find appropriate solutions and achieve the financial goals that lead to long-term success. We are members of many leading associations in the industry where we speak on and publish original, industry-leading guidance to help hospitality business owners stay ahead of their competition. By getting to know our hospitality clients and valuing the partnership, you receive a hands-on, personalized approach.

If this sounds like the kind of business advisory, tax and accounting experience you’re looking for, read on to find out how we can help your private club, hotel or restaurant.

SOLVING BUSINESS ISSUES

“PBMares, LLP has been our CPA firm for over 15 years. Their personnel understand the restaurant industry, and the special tax laws related to restaurants such as the FICA tip credit. They are more than just fill in the box accountants. They look for opportunities to save us money, minimize our work, strengthen our internal controls, and minimize our risk. They are the complete package.”

Jearald D. Cable, Ph.D., Owner, THE TOBACCO COMPANY RESTAURANTS

Count on PBMares for the best hospitality industry insights along with proactive, personalized support for all your accounting and business needs.

With many years of experience serving these businesses, our dedicated hospitality team offers you the comprehensive accounting, management and business advisory services you need. Want to learn more about our customized approach? Explore how we assist hotels, motels, resorts and bed & breakfasts, private clubs and restaurants with the following:

Audit & Assurance

Accounting and auditing for hospitality businesses is unique. The impact of amenities, revenue and expense allocation, room rates and more all need to be considered in financial reporting. PBMares understands what makes accounting for hospitality clients different, and can help you produce clear financial records to make better business decisions. In addition, PBMares can also assist with:

Do you know what internal controls to have in place to mitigate fraud and maximize efficiency? We do. From installing cameras in food and beverage to separating check writing from invoice approval, we can help streamline your organization’s internal controls and customize a solution to meet your needs.

Consulting
Achieving growth through capital investments can be done using debt instruments and reinvesting revenue. When you need outside financing, PBMares can assist your hotel, club or restaurant with finding funding sources, preparing documents and negotiating financing terms.
Bringing on a new partner, selling assets, settling disputes and exit planning all require the help of a skilled business valuation expert. Members of PBMares’ staff hold the Accredited Business Valuation (ABV) designation from the American Institute of Certified Public Accountants (AICPA), and understand the nuances of hospitality transactions. PBMares can assist with:

  • Ownership interests
  • Buy-sell agreements
  • Shareholder disputes
  • Estate and gift tax planning
  • Stock options
  • Intangible assets and goodwill
Whether your goal as an owner of a hospitality business is to pass your business to the next generation, sell it to fund your retirement or integrate business and personal wealth into a long-term wealth management plan, PBMares can help. There are many variables to consider and the tax consequences of your estate planning decisions will be left to the next generation. Make the right estate and succession planning decisions with PBMares.

In few other industries is forecasting as important as hospitality. PBMares can model revenue projections, analyze and benchmark KPIs, assist with cash flow management and more. The key to a promising future is in today’s numbers.

When disputes arise, rely on our expert guidance and industry experience. With a background in law as well as accounting, we provide litigation support through arbitration, expert witness testimony, forensic accounting and valuation reports for use in court.

Knowing your industry’s KPIs is our business. PBMares will compare your hospitality organization’s performance to industry standards and provide recommendations for improvements. Our operations analysis will give you the tools and information to make decisions for the future.

If you’re unsure whether payroll fraud is happening or you simply want to check payroll procedures, we can help conduct payroll audits. For payroll processing, Pathway Accounting Services is an excellent outsourced accounting solution.

What does life look like after managing a hospitality business? Whether you know the answer to this question or need help finding your ideal future, you’ll need help getting there. PBMares helps owners and executives of hospitality businesses plan for retirement through budgeting and forecasting, investment management, lifetime wealth management and retirement plan management.

Hospitality businesses see a significant amount of cash move through the business every day. Multiple staff have access to extremely sensitive confidential member and guest information. What is your plan for safeguarding your assets and protecting data? PBMares can help you mitigate, detect and resolve theft and fraud.

Tax

Receiving a letter from the IRS or a local or state tax authority can be stressful. Not responding is the worst course of action; on the other hand, working with experts in hospitality taxation is among the best. PBMares helps hospitality businesses manage their tax obligations at the local, state, and federal level, including representation before the IRS and other taxing authorities. If your company is the subject of an audit, let PBMares negotiate on your behalf.

More than annual tax returns, taxation for hospitality businesses is complex and unique. There are tax implications of ownership structures, strategic transactions, revenue and expense allocation and more. The PBMares tax team views tax planning and business planning as one.

HOSPITALITY INSIGHTS

MEET YOUR TEAM LEADER



R. Todd Swisher, CPA

Partner, Hospitality Team Leader

“How can I help you?”

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