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Blogs

  • The GST Rollercoaster

    Posted on behalf of Sundeep Gupta, Partner - Compliance, Indirect Tax, ASA & Associates LLP India had another tryst with freedom, though of a different kind, at the midnight hour on July 1, 2017. Freedom from multiplicity of taxes, as Goods and ...
    • 14 Nov 2017
  • Corporate Criminal Offence - Travel and tourism businesses are you complying ?

    There is a widely held view that amongst others, Corporations/Multinationals supported by their Advisors are not paying their “fair share” of tax. This has resulted in relentless scrutiny from the media and ever greater calls for aggressi...
    • 13 Nov 2017
  • Serving up profitability - RevPASH and other restaurant revenue management tools

    A restaurant only makes money when customers are paying their bills, having sat on the seats and eaten from the menu. Often restaurant menus have catchy descriptions, gorgeous photos and an attractive layout. But what is sometimes missing from the ov...
    • 6 Nov 2017
  • Will Brexit actually enhance image of Leisure as employment to consider for UK staff

    As Brexit nudges ever closer, many in the Tourism sector in the East of England are reporting signs that East European staff are starting to return to their homelands. To many employers this is a dis appointment as the image of working in Tourism and...
    • 3 Nov 2017
  • HMRC - no payments by credit card in January 2018

    HMRC have announced that from January 2018 they will be unable to take payment for tax via credit card.  In a blog I wrote 8 months ago I outlined the changes and the implementation date being January 2018.  These changes were instigated by...
    • 1 Nov 2017
  • New ATOL Bill – Will this be affected by the collapse of Monarch ?

    The new ATOL bill is passing through Parliament at a rate of knots. The committee stage, report stage and third reading were all due to take place in July 2017 and if the pace continues it will become law quickly. Following this the real business of ...
    • 1 Nov 2017
  • Tourist Numbers up, Sales down

    Despite higher arrival numbers currency fluctuations mean this is no longer translating into higher sales Despite a 9% increase in arrival numbers, retail sales to overseas customers in the UK declined by 9% in September, as a number of headwinds sta...
    • 27 Oct 2017
  • Provincial UK Hotels enjoy Gross Operating Profit growth of 4.8% (rolling 12 months to August 2017)

    Not quite as strong growth as on the revenue line, but in a world of low inflation, sterling devaluation, minimum wages, new pension obligations etc., most owners (not to mention their lenders and their operators) will be happy enough. This is an int...
    • 22 Oct 2017
  • The increase in Branded Attractions and working with an IP

    The use of intellectual property (“IP”)/ brands in the visitor attraction sector has been around for a long time – from the sprawling Disney World to the launch of the Pepsi Max “Big One” at Blackpool Pleasure Beach in 1...
    • 20 Oct 2017
  • FRS 102 – Sunshine for SMEs in the wake of Brexit

    It would not be appropriate to correlate the implication of an important standard such as the FRS 102, to a political event. However, one thing for sure, is that SMEs (Small Medium Businesses) need to be prepared to face greater compliance and regula...
    • 17 Oct 2017
  • Special Interest Group (SIGs) are rebranding

    In November our Special Interest Groups (SIGs) will be rebranding and becoming Communities. The rebrand is part of a wider objective to bring together a number of our member groupings (including SIGs, life stage groups, and online communities) and wa...
    • 13 Oct 2017
  • HOSPACE Conference & Exhibition 2017

    HOSPACE is a one day annual conference and exhibition hosted by HOSPA the Hospitality Professionals Association. It is now time to book your delegate spaces for HOSPACE 2017 in London at The Royal Lancaster Hotel on November 2nd. HOSPACE have an...
    • 10 Oct 2017
  • UK hotels’ good fortune continues but as uncertainty weighs in, is this as good as it gets?

    In this analysis, PWC's experts suggest that 2018 will not match 2017; provincial hotel RevPAR is forecast to grow 2.3% in 2018. We'll see. As a wise man once said, "the only certainty is death and taxes!" What do you think? Is this too pessimis...
    • 26 Sep 2017
  • 250 days left to comply with General Data Protection Regulations (GDPR)

    1. Background

    The 5,500 members of the Tourism and Hospitality Special Interest Group (SIG) of the Institute of Chartered Accountants of England and Wales (ICAEW) were recently surveyed through an online questionnaire to identify topics on which they wished to be advised. GDPR was the highest rated issue. ICAEW requested me as a member of the SIG Committee to write a short case study that might help members and others…

    • 13 Sep 2017
  • Data privacy in the tourism and hospitality sector

    Data privacy in the tourism and hospitality sector 

    Personal data security is becoming increasingly important in the tourism and hospitality sector, but many companies may not be ready to comply with the EU’s tough new data protection laws, which must be implemented by May 2018. 

    All EU businesses that handle data will have to comply with the General Data Protection Regulation (GDPR), which will require investment…

    • 11 Sep 2017
  • European Travel Commission - Quarterly Report - Q2/2017

    Early indicators point at another year of rapid growth for European tourism destinations. Although results are not yet indicative of the full-year performance, they are in line with the healthy trajectory seen earlier this year. Tourism demand from intra-regional markets remains crucial for future growth. However, perceptions of safety and security across Europe will continue to drive displaced travel and is likely to…

    • 11 Sep 2017
  • First half 2017 outbound UK travel to Eurozone remains solid despite Brexit devaluation

    Early indicators point to another year of rapid growth for European tourism destinations. Although results are not yet indicative of the full-year performance, they are in line with the healthy trajectory seen earlier this year. Tourism demand from intra-regional markets remains crucial for future growth. However, perceptions of safety and security across Europe will continue to drive displaced travel and is likely to…

    • 9 Sep 2017
  • How Saudi Arabia is gearing up to become a tourism destination

    The BBC recently reported Saudi Arabia's plan to convert 50 Red Sea islands into luxury tourist resorts. The Kingdom continues to attract pilgrims in droves, who are likely to swell to 30 million (from the current 8 million) by 2030. Little is known about the abundance of heritage sites, despite been registered with the UNESCO, which is intriguing.

    This of course, sounds promising to those working in the Industry…

    • 3 Aug 2017
  • Why Indian tourists could be the next big thing

    After years of being lauded as being part of the famed BRIC countries, India is starting to demonstrate signs of being on the cusp of realising the grandiose status that was predicted. In June 2017, retail sales to Indian tourists saw gains in sales of 35%, with double-digit gains in all major destination markets. Whilst the UK currently benefits from being the primary destination choice for Indian tourists to Europe…

    • 2 Aug 2017
  • Free Seminar: Staff Issues in the Tourism and Hospitality Sector

    Join the ICAEW Tourism and Hospitality Group, HOSPA and BHA (British Hospitality Association) in this seminar where common issues affecting business within the tourism and hospitality sector will be discussed.

     

    EVENT INFORMATION

    This seminar, chaired by Gareth Jones, Audit and Advisory Partner of Hospitality and Head of Hospitality & Leisure, Mazars, will explore the continued impact of labour issues, service charges and…

    • 2 Aug 2017
  • The elephant in all our rooms in travel and tourism

    Over the past decade Priceline’s pre-tax earnings have grown at a compound annual rate of 42%, faster than Apple, Amazon, Netflix and Alphabet. It also boasts a 96% gross margin. Its share price has risen by more than 50% over the past 12 months, about four times faster than the broader stockmarket.

    Take FULL account of it in all you decide / recommend 

    Ian

    • 31 Jul 2017
  • Dubai's population surges as tourists outnumber residents by five to one

    A study by UK-based travel firm On The Go Tours reveals that Dubai attracts 15.3 million tourists as compared to its just 2.7 million population, a swell of 459 per cent, third highest after Paris and Kuala Lumpur. This means there are over five tourists for each Dubai resident.

    Home to the world's tallest tower Burj Khalifa and tallest hotel JW Marriott Marquis, Dubai kicked off 2017 in a high gear as the Dubai Tourism…

    • 28 Jul 2017
  • Are Travel and Accommodation Habits Changing in London?

    Is Society’s demand for travel and accommodation changing, particularly in London?

    Some recent trends are now emerging in UK rail passenger transport:  historically volume and revenue from commuting into London followed “central (City) London employment”, with other rail passenger revenue broadly tracking economic growth.  Over the last year this appears to have decoupled:  despite employment holding up…

    • 25 Jul 2017
  • How to vote in the tourism and hospitality forum

    You may be aware that we recently launched the ICAEW Tourism and Hospitality voting forum. If you have experienced difficulty accessing or voting in this forum then please see below a step by step guide in how to ensure that your vote is counted!

     

    In order to log vote in the Tourism and Hospitality forum you would need to visit: https://ion.icaew.com/tourismandhospitality/f/tourism-and-hospitality---forum

    Once here please…

    • 11 Jul 2017
  • Football - continuing to grow in value - but what's the impact on the rest of us?

    Football is still growing in value as a leisure activity which drives domestic, in-bound and out-bound visits - and the UK continues to punch above its weight in this area.  The recent report  "Football Clubs‘ Valuation: The European Elite 2017" explores what's happening.  Media rights in particular are allowing the most valuable businesses to defy the economic fundamentals which affect most other sectors…

    • 29 Jun 2017