Trading conditions may be challenging for the hotel industry due to the current state of affairs, but there is no doubt that hotels are better prepared than ever to respond to market trends and changes in customer behaviour. However, while the consumer purse has been tightening, they have not yet cut back on experiences such as hotel stays. This, coupled with the return of business travel has meant that 2023 has had a better start for hotels than expected.
Find out the top considerations for operators to remain agile in difficult trading conditions, how market confidence is changing, and updates to tips and tronc schemes that could affect you.
This report includes:
- A hotel industry market overview
- The importance of branding for hoteliers
- Hotel occupancy rates review
- An overview of the headwinds in the hotel industry
- Legislation update: allocation of tips
- Tax Update
BDO Leisure and Hospitality Services
Our specialist team works with international businesses across the leisure industries, including hotel, restaurants and bars, betting and gaming, professional sports and fitness, and travel and tourism. We provide assurance, tax, and advisory services to our clients, who range from small owner-managed businesses to large corporations in both the private and public sectors, many of whom are market leaders.
If you want to discuss how we can support your business, get in touch today.