Restaurants and hospitality companies face challenges that are unique to their business. The industry is highly sensitive to the external and internal factors that affect financial performance, including economic downturns, increased competition, increased regulatory scrutiny, and changes in consumer preferences.
Sometimes it's a balancing act between aging technology and modern business models. At other times, it’s using a business model that isn’t sustainable for a business of its size. Some businesses are unaware of the comprehensive operational costs and best practices for maintaining a hospitality business, and lose profits on maintenance, inventory, and labor costs. We help you constantly adapt, in a variety of ways, to survive in the ever-changing landscape of this industry.
We know how hard it is to succeed as a hospitality business. More importantly, we truly understand the unique needs of the business owner. For over 35 years, we have worked with hundreds of successful owners on winning strategies to build and grow their business. Our depth and breadth of experience provides us with unique knowledge and perspective on what’s happening industry-wide, and allows us to bring that knowledge and experience to bear, in order to provide the most comprehensive advice to our hospitality clients.
Citrin Cooperman is home to one of the leading restaurant and hospitality practices in the country. We work with a wide range of clients, including some of the highest-rated restaurants in the world and their celebrity chefs, privately-owned restaurants and hotels, hospitality management groups, catering and banquet facilities, foods wholesalers and retailers, resorts and night clubs, holding companies, and real-estate developers. Our team of restaurant and hospitality industry business and tax professionals is ready to help our clients focus on what counts.
In addition to traditional tax, accounting, and regulatory services, we have helped our loyal clientele raise their financial efficiencies, reduce costs, and realize greater profitability. We also help with strategies to prepare our clients for a future sale or equity transaction.
In addition to our core assurance, tax, and advisory services, we also provide: