Wed, Apr 1, 2020

Paul Smith Featured in Business Mole Discussing How COVID-19 is Impacting the UK Hotel Sector

Paul Smith, Managing Director in Duff & Phelps' Global Restructuring Advisory practice, recently spoke to Business Mole about supporting independent hotel chains through the current crisis and the importance of  reviewing contingency plans related to human resources (HR), HM Revenue and Customs (HMRC) and tax liabilities, funding, and cash flow. 

Paul commented: “It is clear that the hotel and catering sector is set to face a very tough few months, with income and revenue severely hit by the widespread travel restrictions in place, both across the UK and worldwide. Our team of experts are ready to assist hoteliers with the most pressing HR, tax, funding, and cash flow issues to help mitigate disruption during these uncertain times.”

“In addition to prioritizing the safety, hygiene and well-being of their employees, hotels will need to maintain a clear focus on business continuity throughout this time. We are already helping our hotel clients initiate flexible work arrangements that allow their people to work safely, as well as helping them review resource allocations, ensuring their teams are engaged and fully aware of their strategy,” Paul concluded.

Read the full article here


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