Hanrick Curran supporting Queensland Hotels Association- Considering and Planning for future trends

1. Hanrick Curran supporting QHA members
Considering and Planning for future trends
March 2014

2. Hanrick Curran Profile
 Multi-disciplined accounting and consulting Firm, services include:
 Business Services - financial statements, business structuring,
compliance
 Specialist Tax Advisory
 Transaction support - Due Diligence, Valuations
 General Insurance – Ausure SEQ broker with priority underwriting
agreements for Qld Hotels
 SMSF Administration
 Business improvement consulting services
 Specialist division dedicated to servicing our Hospitality clients
 Diamond sponsor of the QHA for over 25 years
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Hanrick Curran’s SME Client Base
Hanrick Curran’s Hospitality Client Base

3. SMSF
Administration
and Advice
Audit,
Assurance and
Corporate Services
Business Services,
Snapshot reporting,
Analytics
Taxation and
Structuring
Advice
CFO
Support
Finance
Institution
P.O.S. and
Hotel Management
Report System
Vendors
Legal Adviser
Profit Optimisation
Consulting
Specialist Hotel Services
Ausure SEQ for
General Insurance
Services
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Transaction Support
Due Diligence
Estate Planning &
Risk Insurance
Advisors

4. Future Trends
Technology
 New patrons increasingly consulting social media for reviews and opinions
 Point of Sale technology that connects into mobile bar tab apps & other future innovations
 Rise of International online gambling sites, potentially a threat to gaming revenue
Consumption trends
 Alcohol consumption is declining, by 0.7% over last 5 years
 Skew in growth towards premium imported and craft beer, high-end wine and cider consumption
Competitive landscape
 Expectations of Patrons are rising
 More venue choice from non-traditional venues
 Increasingly more access to specialist Live music festivals
 Independent operators not differentiated will come under increasingly more price pressure from
corporatised multi-site operations
Others?
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Source: Ferrier Hodgson State of the Nation Feb 2014

5. Planning your Response
1. Define your Target Market
 Re-define it as that becomes necessary
 Have clarity on what your venue’s points of difference is and make sure
these are important to your target market
2. Identify the opportunities and threats in the industry trends
 Are these identified in your SWOT or Business Plan?
 What are the impacts on your business if you do nothing?
3. Determine the course(s) of action that you could take
 Consider the implications of these on your target market and point of
difference
4. Assess the financial implications
 Develop a budget for capital expenditure, revenue impacts, cost impacts,
staffing impacts
 Monitor Actuals Vs Budget
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6. Specialists in the Team
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Hanrick Curran has a specialist Hospitality division with a depth of talent across our Partner and Director ranks. It is due to expertise of
our team that we have the enviable position of proactively managing the largest portfolio of hospitality in Queensland.
Peter Maletz, Partner
Peter’s diverse background of experience began with the ATO in the policy and legislation division in Canberra,
Partner of 7 years with a large multinational Accounting Firm including overseas placements in PNG and over 10
years as Partner with Hanrick Curran delivering strategic consulting predominantly in the Hospitality and Mining
sectors in Australian and PNG. As an industry representative on the ATO’s National Tourism & Hospitality Industry
Partnership Committee, he remains proactive in innovating to address industry challenges.
Jeremy Wicht, Director
As a Chartered Tax Advisor with the Tax Institute, Jeremy’s expertise includes tax structuring, transaction advice,
capital gains tax and estate planning advice. Hospitality is an industry close to Jeremy’s heart having initially
embraced it back in the late 90’s performing detailed business analysis, budgeting & capex and profit optimisation
reporting for ALH across over 90 outlets throughout Qld. Clients within his core industries of focus, namely
Hospitality, Agribusiness, IT and the Professions benefit from his insightful analysis & reporting and optimised
business structuring.
Kim Hanrick, Partner
Kim is the founder of Hanrick Curran and has over 30 years in the business industry. Kim is highly regarded
amongst the Queensland business community and has held a selection of official and honorary positions in
commercial and not for profit organisations. Kim’s principal areas of activity are in the hospitality and agribusiness
industries where he is renowned for .

7. Recap
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 The only thing that is constant now … is change
 Take stock of the big future trends for your industry
 Proactively take time out to plan your response to future trends
 Define your Target Market – so you don’t lose sight of your customers
 Identify the Opportunities and Threats ahead – do a SWOT annually
 Determine the course(s) of action open to you
 Assess the financial implications of the better options – do a forecast
 Seek expert assistance – measure twice, cut once!

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Disclaimer:
These notes contain factual information concerning the taxation and compliance implications of certain
accounting and taxation matters. The notes are intended as a guide only and may not apply to
circumstances of particular individuals. Do not act on the contents of these notes without first obtaining
specific advice from a qualified tax or legal professional about your particular circumstances.
Hanrick Curran Group, its associates and the presenter hereby disclaim any responsibility for persons
relying in whole or in part on these notes or the information presented at this seminar.

9. Topic Date
Thank you
www.hanrickcurran.com.au
Tel: 07 3218 3900