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SOC Attestation
Independent opinion attesting to the commitment of service providers to sound internal controls
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Audit and review of financial statements
Credibility of your company's accounting activities in accordance with the legislation in force
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Assurance of Non-Financial Reports
It aims to meet the needs of the business, being able to contemplate different bases and sectorial and global development guidelines
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Assurance of Integrated Reporting and Sustainability Reports
Differential for rendering accounts and demonstrating the engagement of organizations in relation to sustainable practices and their generation of value
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Assistance in accounting definitions
Quality, comparability and transparency of financial information in your company
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Accounting, Labor and Tax Compliance
Permanent diagnostics and advice to raise the level of controls and mitigate risks
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Pre-Audit Diagnosis
Diagnostics capable of offering support according to the purpose and needs of the business
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Assessment reports for consolidations, spin-offs, and mergers
Technical evaluation of net assets at book value or of net assets adjusted to market prices
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Capital Markets
Complete analysis and preparation for strategic fundraising operations
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Business Consulting
Approaches compatible with technologies that support corporate decision-making and stimulate innovation
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Strategy & Transactions
Performance of operations and capital structure to enable more efficient corporate transactions
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FIDS – Forensic, Investigation & Dispute Services
Identification, protection and prevention of risks to preserve business integrity and security
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Risk and Compliance - BRS
Risk management, process improvement to achieve strategic objectives
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Judicial Administration in Business Recovery
Global teams and structures to work with the deep knowledge, legality and ethics that the issue requires
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Business Restructuring and Recovery
Assertive plans and agile actions to recover your company's strategy and performance
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Global Mobility Services
International mobility programs in compliance with local tax legislation and optimized costs
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Home page
Financial Statements
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Transfer Pricing
Review or elaboration of calculations that allow the most assertive compliance in operations abroad
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Labor & Social Security
Identification of existing risks and opportunities according to the current moment and future perspectives
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Direct tax
Agile strategies for complying with laws and enabling regional and sectoral tax incentives
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Indirect tax
Specialized support capable of increasing legal certainty involving different laws and jurisprudence
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International Tax
Analysis and planning of scenarios in different jurisdictions, with integration into the Brazilian scenario
The COVID-19 pandemic has caused an unprecedented level of disruption to the global hotel industry. A combination of local lockdowns and travel restrictions has resulted in many hotels having to close temporarily or operate at a fraction of their available capacity. As the crisis continues to evolve, it is still unclear what shape the industry will emerge in.
The hotel industry is used to dealing with disruption, but never on this scale. While previously only localised events like hurricanes could result in long-term closures, 2020 has seen a widespread drop-off in customers looking to stay in hotels. What makes this crisis so unique is how indiscriminate it is – every hotel business and every corner of the globe has been affected in some way. At the end of July occupancy rates are 60% in China, 48% in the US and 32% in Italy. And with concerns in Europe about new spikes and second waves, it is clear the crisis is far from over. So, what are the specific challenges the hotel industry is dealing with?
Liquidity
The immediate impact has been a steep drop in revenue as business travellers and tourists live in lockdown or utilise video conferencing to meet clients. Adding to the problem is all of the uncertainty regarding the current situation. Hotel operators cannot currently say with confidence when travel restrictions will be lifted, and whether consumers will remain cautious for a period after. Also, social distancing may require hotels to offer fewer rooms for the foreseeable future. Recent research shows that with 10-foot-diameter spacing between tables, restaurants may only be able to generate 19% of the revenue they were pre-COVID.
Employment
Many operators have been able to reduce their labour costs by reducing hours or using government support options. This could create issues, however, as hotels begin to get more business. Is it likely that staff are going to be able to work reduced hours for a prolonged period of time? With fewer staff, there may also be more room for errors, oversights and below-standard service as remaining workers are stretched thin.
Debt and restructuring
Large numbers of hotel operators are looking to restructure their debts, which could create opportunities for private equity owners with large cash reserves. Being able to restructure requires being able to show that a hotel remains a viable business and is likely to continue running once travel and lockdown restrictions are lifted. There is also a range of government measures across the world aimed at providing assistance to struggling sectors, but it is unclear how long these will be available.
Preparing for life in the new normal
The pandemic may lead to a speeding up of the introduction of digital and remote services like mobile check-ins, and contribute to a shift in customer experience across the industry. What is clear though, is that it will be some time before the hotel industry returns to the way it was able to operate a year ago.
The hotel industry faces some stark choices in the coming months, as we all begin to navigate our way towards recovery. We can help you protect and restore value in your business, so that you are best placed to operate in the new normal.