The hospitality industry is one of the worst hit by the coronavirus pandemic, not just in the UK but world-wide. The very essence of hospitality is social interaction and this is the worst possible condition for the potential spread of a virus of this nature.
Many hoteliers and restaurateurs will now be wondering what to do.
In the UK their hotels, B & Bs, pubs and restaurants have been closed down by order of the government on a number of occasions with just a few exceptions such as creative ideas like turning to take away food.
Businesses with stronger underlying financial conditions have been able to sit out the storm but there have also been many hospitality businesses unable to survive notwithstanding financial aid and there will no doubt be many small operators who have been struggling for a while and for whom the present crisis is just the last straw. What are their prospects of re-establishing? And will their banks and mortgagees continue to support them? On present form, that is not a given.
For those who want to sit it out and continue operating your hotels, guest houses, pubs and restaurants you may be wondering how best to prepare yourselves for what will certainly be a brave new world once the crisis has passed and happily there is now a vaccine but we do not know when the country is likely to return to normality.
Adrian Leopard & Co has specialist knowledge in the field, not only of operating hospitality businesses but also for consulting in the purchase and sale of such businesses, no matter where in the UK your business is located.
What can we help you with?
- Assessing the viability of your pub, restaurant or hotel and where you can make real economies
- Advising on changes of practice
- Advising on new types of integrated software to keep your business under control
- Accounting and similar issues
- Buying or selling a hotel from a financial perspective – how to be ready and what particularly to look for
- Consideration of whether to join a hotel franchise or remain independent
We work in conjunction with our hotel company Hotel for all Seasons which gives us unique access to trade facilities.
Contact us for a free half hour telephone or Skype consultation so that we can help you decide on the best way forward for you and your business and in particular understanding the financial position you find yourselves in. Our aim is not to divert you down an insolvency route if possible but to see what options to minimise your potential losses are available or for those still wanting to be in the business, how to get there and stay there!
Email us on [email protected] or [email protected] to fix an appointment for a discussion quoting “hospitality challenge”.