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  • US hospitality and leisure industry: Publications, case studies and analysis: PwC
    us Alumni Alliances Awards Corporate responsibility Diversity Our global site Press room Video library Careers PwC Open University United States International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Hospitality leisure publications The US hospitality leisure practice publishes quarterly forecasts and original research of interest to professionals in the lodging industry Hospitality directions US PwC Hospitality Directions January 2016 Download PwC Hospitality Directions January 2016 Average daily rate reluctantly takes the driver s seat Download the outlook tables PwC Hospitality Directions US is a near term outlook for the U S lodging sector commonly used by industry decision makers and stakeholders to better understand the impact of policy and other macro environmental factors on the sector s operating performance Our outlook includes the following metrics for the overall sector as well as for the chain scales and is used by our clients for strategic planning and capital allocation purposes demand and supply occupancy average daily rate revenue per available room Manhattan lodging index Manhattan Lodging Index Q3 2015 Download PwC Manhattan Lodging Index Q3 2015 Following two quarters of negative year over year RevPAR growth Manhattan hotels experienced flat RevPAR in the third quarter with ADR increasing 0 6 percent during the quarter PwC Manhattan Lodging Index provides updates on Manhattan s lodging market widely used by lodging brands developers and owners The publication includes a recap of the operating performance of hotels and sub market trends discussion of the overall drivers of operating performance the transactions environment the supply pipeline Hospitality and leisure Industry sectors Convention center Cruise Gaming Lodging Marinas Sports facilities teams Travel tourism

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/publications.html (2016-02-10)
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  • Hospitality & leisure: Services
    survey Video library 10Minutes Center for Technology and Innovation Financial Services Institute Technology Institute Health Research Institute Center for Board Governance PwC s Investor Resource Institute Point of view View CFOdirect About us Alumni Alliances Awards Corporate responsibility Diversity Our global site Press room Video library Careers PwC Open University United States International PwC Sites Commonly visited PwC sites Global Australia Brazil Canada China Hong Kong France Germany India Italy Japan Mexico Middle East Netherlands Russia Singapore South Africa South Korea Spain Sweden Switzerland United Kingdom United States Complete list of PwC territory sites Services The US hospitality leisure practice consists of 50 professionals across the country The national presence size and depth of experience that the group possesses allows us to provide the following diverse array of services Economic impact Franchise management selection assistance negotiation Lease structuring Litigation arbitration Lodging asset monitoring asset management Loyalty program strategy and liability management Market positioning repositioning Profit improvement Research Transaction services Valuation appraisal Hospitality and leisure Industry sectors Convention center Cruise Gaming Lodging Marinas Sports facilities teams Travel tourism Vacation ownership Industry services Economic impact Franchise management selection Lease structuring Litigation arbitration Lodging asset monitoring asset management Loyalty program strategy Market positioning

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/providing-services-to-companies-in-the-hospitality-and-leisure-industry.html (2016-02-10)
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  • Hospitality & leisure: Travel & tourism
    and opportunities for destinations and businesses serving the travel and tourism industries Travel and tourism businesses require a formal approach to targeting positioning and branding and market research access and development are critical to ensure maximum return on resource expenditures If this is your situation You want to understand the current and future competitive landscape in major domestic and international tourism destinations You need to develop a comprehensive tourism product strategy with multiple destination components You want to investigate the economic impact of a new tourism related investment such as a new convention center s impact on the local or regional economy You represent a tourism related trade association and you want to conduct thorough and authoritative consumer and industry surveys How PwC can help you The PwC Hospitality Leisure practice includes specialists providing research and planning services to assist clients with the development strategic planning and promotion of destinations and attractions serving the travel and tourism industries With tourism professionals located throughout the United States and in major cities around the world our teams distinguish themselves by their extensive regional market knowledge and their ability to apply that knowledge to local regional and international issues and assignments Our research capabilities technical experience specialized skills and industry knowledge combined with our global reach enable PwC to offer a highly specialized scope of services and robust depth of experience Offering a broad range of services to leading travel and tourism entities our industry professionals provide research and services in the following areas Competitive and comparables analysis Cost benefit analysis Destination marketing and planning Econometric modeling and forecasting Economic and fiscal impact analysis E strategy planning and design Funding and budgeting analysis Identification of performance goals and objectives Identification of target markets Integrated marketing services Market positioning Product research and development Relationship

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/travel-and-tourism.html (2016-02-10)
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  • Hospitality & leisure: Lease structuring for tax purposes: PwC
    or LeaseCo be structured based on revenue from operations and not operating income As your investment vehicle acquires lodging and other asset types with operational business components PwC can assist you Our hospitality and tax professionals extensive industry and financial knowledge provide you with assistance in your lease structuring needs Lodging and other service related real estate assets are management intensive and have unique fixed and variable components to their operating revenues and expenses Knowledge of these expenses and revenues is critical in properly calculating the potential effects on taxable income of changes in such metrics as occupancy or average daily rate The risks associated with structuring leases include Not allowing enough taxable income at the subsidiary which could lead to questions regarding the arms length nature of the lease Allowing excessive taxable income at the subsidiary TRS or LeaseCo which could increase the effective tax rate of an investment vehicle If this is your situation You are involved in a lodging or service related asset transaction and your primary business objective is real estate ownership not the operation and management of these assets You need a thorough analysis of how the fixed and variable natures of certain revenues and expenses can affect the potential upside and downside performances of your asset You need help with the iterative process of calculating potential lease terms to achieve your tax objectives How PwC can help you Because our team of experienced professionals understands current practices we help clients efficiently reduce risks associated with structuring leases under REIT and UBTI regulations Understanding that each asset is different PwC can assist you efficiently account for renovations seasonality brand changes and other property level anomalies allowing you to assess lease parameters that meet your expectations and minimize fluctuations in tenant income over the term of

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/lease-structuring-for-tax-purposes.html (2016-02-10)
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  • Hospitality & leisure: Litigation & arbitration: PwC
    faces a legal dispute Whether your dispute involves issues of performance contacts value leases management agreements license agreements territorial protection encroachment technology or the complex relationship between agents and principals our knowledge experience and efficiency in legal matters related to the hospitality industry can help you succeed If this is your situation You are involved in litigation or international arbitration regarding lost profits and require an expert witness Your resort suffered damage by a hurricane and you have a major insurance claim You are concerned about the nature of your relationship with the operator of your hospitality assets agency or service contract How PwC can help you PwC Hospitality Leisure specialists offer in depth experience in a variety of sectors hotel resort gaming cruise timeshare conference center convention center and sports facilities and teams Our professionals have extensive experience advising clients on damages theory and calculations as well as on case strategy learned through involvement with large and small legal matters We present data information analyses and opinions in easily understood language and or graphics for adversaries opposing counsel judges arbitrators and juries Our litigation experience includes forensic accounting and investigation technical analyses and electronic document recovery We assist clients with traditional owner manager disputes and more technical issues involving corporate opportunity intellectual property asset valuation property taxes frequent guest programs purchasing cost allocations of centralized services and hospitality back of the house operations including technology Relied upon by industry analysts advisers CEOs CFOs and general counsels our Hospitality Leisure practice is renowned for empirical research and analyses that strengthen and solidify persuasive arguments We are recognized for our knowledge and experience with management and franchise agreements mergers and acquisitions operations and valuation as well as being involved in some of the industry s most high profile litigation matters Our

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/litigation-and-arbitration.html (2016-02-10)
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  • Hospitality & leisure: Lodging asset monitoring & asset management: PwC
    hotels conference centers resorts and other lodging businesses require a particular base of knowledge and expertise that spans the arenas of management marketing payroll energy maintenance and capital Accurate and timely information is essential to enhance the understanding and improve performance of the financial operational risk value and physical status of hospitality assets PwC s Hospitality Leisure practice includes a group of specialists dedicated to providing lodging asset monitoring and asset management services to owners financial institutions and institutional investors If this is your situation A borrower has defaulted on its loan and you have foreclosed on their offshore resort property As an institutional investor you have acquired a portfolio of hotels widely spread across the country Your management company ended its relationship with your property leaving line level employees and middle managers but no senior level direction You have started to feel pressure from investors as a result of deteriorating financial ratios How PwC can help you Our professionals hold hospitality degrees from premier hospitality management schools These credentials coupled with extensive hands on and advisory experiences enable our specialists to provide guidance for the individual needs of an investor or owner Our asset monitoring and asset management services include Financial and operational performance monitoring and control Daily operations oversight Property inspections Market position surveys Management and franchise contract negotiation Leasing and tenant relations Accounting and financial management reporting Marketing plan development and review Budget operating and capital development and review Ad valorem tax review Financing refinancing and debt restructuring Capital improvements project management Renovation and expansion oversight Property acquisition disposition services Analysis of management performance Risk analysis Sales productivity analysis by person by demand segment Accounts payable receivable aging analysis Additionally PwC s proprietary executive asset management program evaluates and outlines critical signals for ownership action Our report

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/lodging-asset-monitoring-and-asset-management.html (2016-02-10)
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  • Hospitality & leisure: Market positioning & repositioning: PwC
    asset and your return on investment will be tied to the value you can create by improving the property s marketplace position Your aging hotel s franchise agreement will not be renewed by its brand The major demand generator in your market moved and you must address your property s business strategy going forward Your management team brings you a comprehensive expansion plan and wants your sign off on a major capital spend How PwC can help you The industry professionals within PwC s Hospitality Leisure practice possess extensive experience in successful product positioning Knowledge of the local market the latest in competitive product offerings and effective branding strategies are vital to create a successful repositioning strategy Our specialists possess that knowledge as well as the skills to formulate a creative vision for a market based property specific repositioning PwC professionals employ proven methods to analyze and quantify potential financial benefits to the owner We not only suggest a plan to reposition a property but take the next step to help the owner understand how to implement the repositioning strategy PwC specialists investigate possibilities for a property s potential repositioning based on historical and current market conditions and the property s past and current positioning in the market Conducting a thorough market analysis and obtaining a solid understanding of the local economy area demographics demand generators market trends and related area specific characteristics are only the first steps necessary to formulate an effective repositioning strategy To determine a relevant solution with an optimal financial payback we consider every aspect of a property s operations in relation to its local market competition and the needs of the local market PwC Hospitality and Leisure professionals can help you to Assess the effectiveness of a property s operations and evaluate if physical changes to the asset through prudent capital deployment or changes to the property s service offerings could help to improve profits Example Outsourcing an under performing food and beverage outlet to a well recognized branded restaurant chain could contribute a steady stream of lease income to the property and thereby decrease the human resource needs of the owner and improve the property s image in the market Market analyses conducted by our specialists could indicate that the property is well suited to do more group meetings business Converting underutilized restaurant space to new innovative conference space can be a financially sound decision for the property owner and a solution to capitalize on the existing demands of the market Assess how best to deploy limited capital when repositioning an asset to grow the financial returns to the owner Example An owner could have limited capital resources to deploy to maintain the current branding on a hotel Our market analyses might conclude that changes in demand patterns within the local market coupled with product shuffling among the brands represented provide an opportunity for the owner to rebrand the asset at a lower price point increasing return on invested capital for the owner Assist

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/market-positioning-and-repositioning.html (2016-02-10)
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  • Hospitality & leisure: Profit improvement: PwC
    experience enables us to provide our clients with the unparalleled advice and support needed to enhance processes for cash flow improvement from single hotels to entire portfolios of lodging establishments If this is your situation Your organization has grown through multiple acquisitions and now it is time to implement changes that will make these acquisitions accretive to earnings As an owner heightened standards in brand compliance are putting pressure on your return on investment hurdles As a branded hotel company you need to move deal flow through your internal process more efficiently How PwC can help you Hospitality and leisure organizations deal with daily processes ranging from basic operational procedures such as registering a hotel guest or cleaning a guestroom to complex financial processes that budget and monitor revenues and expenses Our specialists work with lenders the brands owners and management to assess both specific problems such as a poorly performing department within a property and more general issues such as property portfolio or brand wide customer service issues or procedural inefficiencies Some areas that hospitality and leisure organizations often overlook are Analysis of real estate tax assessments during periods of revenue growth deceleration or decline Technology enhancements that can reduce labor and or increase revenue levels More prudent business structures Through management interviews data gathering and analysis process observations and best practice comparison our teams work with clients to identify and prioritize areas in which process related changes will result in reduced expenses or enhanced revenue offering significant improvements to cash flow The process inefficiencies that make it difficult for employees to complete assigned tasks as directed are often related to inherent systemic problems rather than the incompetence of the employee or management Typically process adjustments also cause an indirect improvement to property operations by addressing customer and employee retention issues and other customer centric topics that affect a property s ability to compete within a market Examples of engagements our hospitality and leisure professionals have performed include Hotels We were engaged to assist a client with a property on a college campus specifically assessing the effectiveness of the property s dual entity management structure and its impact on the property s financial performance We identified duplicative cost centers arising from this unique management structure and recommended a revised single reporting structure on a going forward basis Casinos We advised the owners of a multi property casino company in Northern Nevada who were faced with the prospect of reorganization We completed a comprehensive operating assessment on each major department within the casino hotel properties suggested areas for improvement and increased efficiencies studied day to day cash needs to redirect cash flow to pay down debt prepared an independent market assessment along with a competitive analysis to determine the most lucrative target market for the properties proposed a market positioning strategy on which a detailed marketing plan would be based and assisted the owners in all phases of negotiation with their key lenders Conference centers The institutional owner of an

    Original URL path: http://www.pwc.com/us/en/asset-management/hospitality-leisure/profit-improvement-streamlining-process-flow.html (2016-02-10)
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