EY advises clients on the full suite of hospitality and tourism services — from digital operational innovations to strategy and transaction consulting. Our Hospitality Service professionals can provide insights to help your Hospitality organization reach its strategic goals.
How EY can help with your Hospitality Services
The rise in global travel and tourism has fueled a dynamic hospitality sector in recent decades, and the accompanying digital revolution has disrupted the hospitality industry and accelerated change. Customers expect far more from hospitality organizations than ever before, as seamless digital experiences in other sectors create a new normal. A desire for personalized service is driving the industry professionals to rethink how to reach and engage with customers.
As a result, hotels and restaurants are investing in technology to transform both their front- and back-office operations to lift the customer experience, optimize costs and gather data to provide insights into digital operational efficiency. Meanwhile, tourism and destination organizations are seeking to maximize the benefits of tourism, while satisfying both visitors and local communities.
EY hospitality and tourism teams support hotels and destination organizations, helping them to make operations cost-efficient while providing the required services for their customers and communities:
To meet the evolving demands of customers and to thrive in a digital age, we help hotels and hospitality organizations to transform their front- and back-office operations through:
- Strategy: Rethinking business strategies and operating models for the digital age - for example, developing integrated digital platforms to provide seamless customer experiences
- Innovation: Broad innovation capability, including incubating new ideas and business models, and redesigning the entire customer journey
- Experience: Analyzing the world of the customer, then designing and assisting new experiences such as e-commerce platforms that provide seamless digital experience
- Operations: Aligning, enhancing and automating operations and supply chain to deliver the promise of digital
- Trust: Helping EY clients build the agility to respond to digital risks
Tourism and economic consulting
The growth of tourism means it’s more important than ever for destinations to plan strategically for sustainable success. EY Future Destinations offering is a purpose-driven solution that allows clients to define and prioritize their strategic goals, implement the tools to reach those goals, and monitor performance. This can be attained through:
- Strategy: Identify and prioritize short- and long-term goals and objectives to enhance visitor experience, destination competitiveness, and market appeal
- Implementation: Develop and help implement purposeful tools such as data visualizations, website and mobile applications, and public safety training
- Monitoring: Monitor performance using tools such as return on investment (ROI) analysis, competitive benchmarking, and visitor and community sentiment reports
Hotel management and strategy
Managing hotels is a complex business. The hospitality industry is evolving fast and hotels need to revise their strategies, as well as manage existing requirements, to stay in the game. We can help with:
- Regulation: From assurance and financial accounting advisory services to tax compliance and structuring
- Mergers and acquisitions (M&A) strategies: M&A support — financial, commercial diligence (buy-side or sell-side), transaction readiness, valuation, entity and asset strategic advisory
- Development advisory and construction program management
- People advisory
- Capital strategy