Tourism
The tourism sector has faced many new challenges in recent years, including the complexities of employment law and remaining profitable amid economic uncertainty. Beyond the delivery of exceptional customer experiences, successful tourism operators must ensure their cash flow, revenue and cost controls, banking and funding requirements, and wealth creation and management strategies are effective, both now and into the future.
Tourism groups are increasingly opting to outsource general management capabilities to a trusted advisor. With the right advice, change can be effectively implemented in areas such as reporting, revenue and cost controls and revised product offerings, ultimately improving the performance of the business and its people.
Whether you are seeking to franchise your operations, strengthen your current business model or restructure debt and finance, you can benefit from the expertise of advisors who have worked with various businesses across the tourism sector, including:
- Franchised operators
- Hospitality groups
- Resorts and hotels
- Tourism service providers
Businesses in the tourism sector benefit from having a pragmatic, commercial view of their operations to ensure they address challenges effectively, realise opportunities and establish strong and sustainable growth.
Challenges
With increased competition and increased cost of living pressures, now, more than ever before, tourism operators need to deliver an exceptional customer experience to establish a firm footing in the local economy. Other challenges in the sector include managing costs, ensuring steady cash flow throughout the year, navigating complex employment legislation and ensuring payment obligations as an employer are met.
Opportunities
Tourism businesses that have the right foundations in place have an opportunity to capitalise on the potential growth that outside capital can provide. Further, marketing your business in innovative ways to attract new customers and increase brand recognition is crucial for long term success.
With Pitcher Partners, you’ll gain access to an expert team that has worked with some of Australia’s most well-known tourism operators. Our extensive experience in this sector includes outsourced general manager roles, management reporting, budgets and cash flow projections, feasibility studies, financial modelling, taxation advisory and IT consulting. You’ll also benefit from a high-functioning network of individuals and organisations, including competitive committees, board members, financial services firms and investigative groups.
As a strong voice for our clients in the tourism sector, we advocate for tax and regulatory changes that impact our clients’ businesses, ensuring you have the support you need across all facets of your business.
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