Accounting and Compliance

HDS offers premier outsourced accounting and compliance services geared towards hospitality organizations with presence in both the United States and on a global stage, empowering your success with both precision and expertise – reducing your HR operating costs by over 25% through a combination of process automation, staffing optimization, and a mitigation of your compliance risk. Specializing in hotels, resorts, restaurants, and bars, we deliver tailored, technology-driven solutions that ensure financial accuracy, regulatory adherence, and strategic growth. HDS combines advanced analytics, industry-specific knowledge, and a client-centric approach to optimize financial performance and mitigate risks. Our services empower owners and operators to focus on guest experiences while we handle the complexities of accounting and compliance, positioning your properties for sustained success in a competitive market. While maintaining quality, HDS can reduce your overhead by up to 30% compared to in-house teams and deliver 98% client retention due to enforcing proactive regulatory adherence. Our solutions demonstrate an average 5-10% growth in revenue with 99.9% reporting accuracy and our proprietary tech stacks reduce processing times by over 35% while ensuring the security of your data. Independent auditors usually score our financial reporting and tax filings at nearly 100% accuracy with no significant findings. An average 50% reduction in manual accounting tasks usually leads to an increase of 5-10% RevPAR within 12 months.

We offer you a highly structured onboarding to ensure seamless integration and implementation. Via an initial discovery and assessment study we will analyze your current processes, systems, and compliance gaps. After setting about tailoring workflows, tech stacks, and establishing KPIs that align with your business goals we will deploy a customized solution, migrate your data, and train your staffs. We conduct continuous refinement on these systems after the fact and hold quarterly reviews with your management teams to maximize their value.

After that initial consultation, our subject matter experts will offer you a range of flexible engagement models: end-to-end, fully outsourced management; co-sourcing, a collaborative support in which we augment your in-house teams with our unique expertise and technology; or one-off project-based services targeted to systems migrations, strategic planning, or tax audits. Whichever delivery method you choose, you will receive a team of dedicated accountants, tax specialists, and advisors for personalized support; 24/7 access to our cloud-based portal for real-time visibility into your data, compliance status, and performance metrics; and proactive communication from HDS providing regular business reviews and alerts on regulatory changes to ensure agility and complete compliance.

Advanced Financial Management

HDS provides comprehensive financial management services designed to deliver precision, transparency, and actionable insights for hospitality enterprises. Our solutions are tailored to the unique needs of hotels, inns, resorts, restaurants, and bars, ensuring robust financial oversight and strategic alignment.

• General  Ledger Management: We maintain accurate, hospitality-specific charts of accounts, categorizing revenue streams  (e.g., rooms, F&B, events) and cost centers with precision. Our team  of CPAs leverages cloud-based platforms like NetSuite and QuickBooks Online, integrated with PMS systems such as Opera and Lightspeed, to streamline processes and ensure GAAP/IFRS compliance.
• Accounts  Payable/Receivable Automation: Using AI-driven workflows, we optimize invoice processing, vendor management, and cash flow, reducing  errors by 99.9% and accelerating cycles by 40%. This ensures timely payments and collections, enhancing liquidity for your operations.
• Financial  Reporting and Analytics: Our real-time, customizable  dashboards deliver GAAP/IFRS-compliant reports, including P&L, balance   sheets, and cash flow statements, tailored to hospitality KPIs like      RevPAR, ADR, and GOPPAR. Clients gain actionable insights to drive profitability,  with 98% reporting accuracy.
• Budgeting  and Forecasting: We develop scenario-based  forecasting models that incorporate occupancy trends, seasonal variances, and market dynamics, enabling strategic planning and cost optimization. Our clients achieve 5-10% revenue growth within 12 months through data-driven budgeting.

Tax Strategy and Compliance

Navigating the complex tax landscape is critical for hospitality groups operating across jurisdictions. HDS offers proactive tax strategies and compliance solutions to minimize liabilities and ensure regulatory adherence.

• Tax Planning and Optimization: We identify deductions,  credits, and incentives specific to hospitality, such as energy efficiency credits and tourism-related exemptions, reducing tax burdens by up to 15%.  Our strategies align with your financial goals, ensuring long-term      savings.
• Sales  and Use Tax Management: Automated tracking and  remittance of sales, occupancy, and tourism taxes ensure compliance with  jurisdictional nuances, such as transient occupancy taxes, minimizing  audit risks. We integrate with platforms like Avalara and TaxJar for  seamless tax management.
• International  Tax Compliance: For global hospitality  groups, we provide expertise in VAT, GST, and cross-border tax obligations, ensuring compliance in multiple jurisdictions. Our solutions      support chains with international footprints, reducing compliance costs by      20%.
• Audit Defense and Support: Robust documentation and representation during tax audits minimize disruptions and penalties, with 100% of clients passing audits with no significant findings.

Regulatory Compliance and Risk Management

The hospitality industry faces stringent regulatory requirements, from labor laws to data privacy. HDS ensures compliance and mitigates risks through comprehensive solutions.

• Labor and Payroll Compliance: We manage payroll processing,  tip credit calculations, and compliance with FLSA, ACA, and local wage laws, using ADP and Paychex integrations to ensure accuracy. Our solutions  reduce payroll errors by 99% and ensure compliance with tip reporting      regulations.
• Licensing  and Permits: We oversee liquor licenses, health permits, and franchise agreements, with automated renewal tracking to prevent lapses. Our proprietary compliance platform provides real-time monitoring, achieving 98% compliance rates.
• Data Privacy and Security: Compliance with GDPR, CCPA, and PCI-DSS protects guest data, supported by cybersecurity audits and  encryption protocols. We reduce data breach risks by 95%, ensuring guest trust  and regulatory adherence.
• Franchise and Brand Standards: We align with franchisor  financial reporting requirements, ensuring brand compliance for chains  like Marriott and Hilton, with 100% adherence to brand standards.

Technology-Driven Process Optimization

HDS leverages cutting-edge technology to streamline accounting and compliance processes, enhancing efficiency and scalability.

• Robotic  Process Automation (RPA): We automate repetitive tasks like invoice matching and expense reconciliations, reducing manual effort  by 40% and improving processing times by 35%.
• AI-Powered  Analytics: Machine learning models  predict cash flow trends, detect anomalies, and optimize pricing  strategies, reducing revenue leakage by 5-8%. Our analytics integrate with      PMS and POS systems for real-time insights.
• Integration  Expertise: Seamless connectivity between  PMS, POS, ERP, and accounting systems ensures data integrity, with 99.9% accuracy in financial reporting.
• Blockchain for Transparency: For select clients, we implement blockchain-based ledgers to enhance audit trails and transaction security, improving trust and efficiency.

Our SOC 1 and SOC 2-certified solutions ensure enterprise-grade security and reliability, supporting portfolios from boutique properties to global chains.

Strategic Advisory Services

HDS empowers hospitality leaders with data-driven insights to drive growth and profitability.

• Revenue Optimization: We analyze pricing strategies, channel mix, and distribution costs to maximize RevPAR and minimize OTA dependency, achieving 5-10% revenue growth.
• Cost  Control Strategies: Detailed benchmarking against  industry peers identifies inefficiencies in labor, inventory, and  utilities, reducing costs by 10-15%.
• Capital  Expenditure Planning: ROI-driven analysis for renovations, technology upgrades, and sustainability initiatives aligns  with long-term brand goals.
• M&A and Franchise Support: We provide financial due  diligence and valuation modeling for acquisitions and expansions, supporting seamless integration.