Lodging and Resorts
Travel for leisure and business has been both a driver and reflection of our economy. From B&B to hotel to resort, the Montana hospitality industry has really been a staple of that activity. Our team of business advisors and CPAs work with lodging operations of all sizes – and in Montana towns of all sizes – across the hotel, motel and resort categories.
The lodging industry has roughly 43,300 companies in the United States, approximately 1,024 hotels, motels and resorts in Montana, not including campgrounds and individual home vacation rentals. And it’s no secret that almost all of them have been severely affected by the pandemic. These entities have mostly worked their way through the shutdowns, but are now dealing with labor shortages, government vaccination requirements, and supply shortages – all while finding that guests are ready to travel again and book reservations. Hotels and motels of all sizes are now having to rethink the way they have traditionally operated, from housekeeping services to pricing models. While managers and owners still have to focus on RevPAR or revenue per available room, they now also have to spend extra time figuring out how to deliver their services and maintain guest satisfaction – and position their operations for a successful post-pandemic future.
Our hotel / motel hospitality team works with many clients on their payroll, financial statement and tax return preparation needs, as well as helping them think through their business planning for the future. For smaller and more rural operations, such as a B&B or small inn, we also work with the owners on business planning and cashflow management. And no matter the room count, when a client currently dealing with heavy employee turnover has trouble finding professional experience with preparing for payroll, tax credit opportunities and/or bank loan requirements, our team can help there also.
