Hotels for Sale
The value of having high quality accounting practices in place is never more evident than when considering buying or putting up hotels for sale.
With more than 30 years’ experience in providing accounting services for the hospitality industry, Sothertons Chartered Accountants can provide assistance not only with tax, BAS statements and other accounting reports, but also with strategic financial advice and business valuation.
Sothertons can help existing owners develop plans to maximise profitability, or can advise buyers on key financial issues to consider. For more information call Sothertons today on (03) 9820 6400 or submit an online contact form.
Experienced Valuers
As a specialised area of real estate, the market for hotels for sale is subject to its own fluctuations and trends. The industry also has very specific labour demands and resource requirements.
New entrants and experienced owners alike can find it difficult to accurately determine the value of hotels for sale in a constantly fluctuating market.
Able to provide hotel valuation services, Sothertons can provide an independent assessment of what your (current or prospective) business is worth and work with you to maximise this value.
Preparing Hotels for Sale
Although the demanding requirements of running a hotel often result in accounts being neglected, this can be detrimental to both long and short-term value. To maximise the profit made on hotels for sale, it is important to undertake regular auditing and evaluation of your financial statements, and to implement quality accounting and internal reporting practices.
Regular evaluation of costs and expenses allows you to identify underperforming areas of the business and determine where there may be wastage. Identifying these problems early allows you to make strategic changes, maximising short and long term profitability.
Thorough, clear accounts make businesses more attractive to potential buyers and accurate reports allow you to develop a realistic idea of what your business is worth.
Business Strategies for Buyers
Even when looking at existing hotels for sale, it is important to develop a detailed business plan. Potential investors or lenders need to see that you can demonstrate short and long term value creation as well as risk management strategies.
Forecasting and budgeting are critical, but for new owners this can prove quite challenging. Extensive hospitality industry experience allows Sothertons to provide accurate forecasting as well as benchmarking to allow you to gain a better understanding of where you will stand in the industry.
Implementing clear accounting practices right from the start can assist with strategic management and minimise the amount of time spent on accounting in the long run. Sothertons can help you implement systems and develop reports that are not only thorough but also understandable and useful.
For more information on how Sothertons can help both buyers and sellers of hotels for sale, contact us today on (03) 9820 6400 or submit an online contact form.
