Depending upon the length of time you have been in your current role or in the hospitality industry generally, you may have been reading these PKF Trends newsletters every month for several years. In fact, we have been publishing them in this National form since January 1998 and before that, Provincially, since 1970. (Sorry, if we just dated you!) But that is not all we do. PKF Consulting Inc. is more than just a publisher of Trends in the Canadian Hotel Industry.
PKF International is a worldwide affiliation of Consulting and Accounting services with 380 offices in 199 countries around the world. PKF is the tenth largest accounting network worldwide and has been serving the needs of the hospitality industry for over 100 years. PKF Consulting Inc. (“PKF”) is a Canadian management consulting firm that is nationally and internationally recognized as one of the foremost specialists in the hospitality, tourism, foodservice, leisure travel and real estate industries. PKF Consulting in Canada is driven by a team of professionals with more than 100 years of combined experience in the hospitality industry. There are three Directors of PKF Consulting in Canada, Beth Walters in Vancouver as Director of Western Canada and for Eastern Canada, Directors Brian Stanford and David Larone, as well as Fran Hohol, Principal, and Jon Lantz, President PKF Hotel Realty, based in Toronto. The diversely experienced support team currently comprises nine consultants and four administrative staff between the two offices.
Thanks to your contribution, we believe that our database is the most extensive available to the Canadian Hospitality Industry. We report on the monthly performance of approximately 222,000 guest rooms in Canada. On an annual basis, we also publish the only major source of financial performance data for the hotel industry, the annual PKF Trends Financial Edition, that reflects detailed operating performance of hotels by line item by geographic location, type of hotel, size and price range from in excess of 650 hotels. Not only is our database the largest in Canada, it is he only proprietary database. Our documents are widely used by hotels at budget time, by the financial lending industry as the benchmark performance indicators and of course by PKF Consulting in our own market studies and analyses. Utmost confidentiality is observed in handling individual property information. Individual property statistics are not made public; only the compilation of industry averages is made available to our clients/participants. It is this database and day to day contact with owners and operators that keep us abreast of new trends and developments in the industry. And it is this database that allows us to provide services and expertise in the following areas:
- Market and Economic Feasibility Studies
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- Franchise Agreement Negotiations
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- Estimates of Value/AACI or MAI Appraisals
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- Acquisitions and Underwriting Due Diligence
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- Asset Management/Owners Representation
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- Asset Evaluation/Asset Strategy
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- Economic Impact Assessments
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- Benchmarker/Market Share Reporting
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- Management Contract Negotiations
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Within these services, we work on accommodation facilities of all types, and projects related to tourism attractions, public assembly venues, golf courses, spas, resorts, attractions, visitor information centres, conference and convention centres, performing arts facilities, arenas, gaming facilities, public ranches, trail development projects, aboriginal cultural facilities and many other types of facilities in the diverse tourism industry. Most importantly we do more than just studies, we are business advisors to our clients.
On a national level, within the past 48 months, PKF Consulting has provided advisory services on $4.0 billion worth of existing hospitality and tourism industry assets across Canada. We have provided advice and opinions to a wide range of owners, lenders, purchasers and developers. Regardless of the project or client, we apply the same standard of market and financial due diligence in assessing and ensuring the viability of all facilities. At PKF, we pride ourselves in our ability to provide objective advice to our clients in all areas of market assessment, development potential, operations, management and finance. More than just industry advisors who provide sound business advice captured in a market study or appraisal, our clients receive true value in our operational reviews and critical evaluation on market positioning, management structure, branding options and more. Our approach focuses on value-added services, working with our clients throughout the process to allow them to make informed business decisions. In other words, we go beyond providing a number that allows our clients to get financing - we provide advice that helps them to operate their business more successfully and we can help with the implementation of those strategies.
Whether you are a hotel owner, developer, general manager, financial institution or tourism specialist, consider how PKF Consulting Inc. can help you in your current and future hospitality endeavours. We would be happy to apply our knowledge and expertise to your project, whether we can value your hotel, assess your market or financial positioning, offer advice, make a presentation or undertake an analysis. Or contact us to participate in our Monthly Trends or annual Financial Trends program. And our thanks to you for trusting us with over 30 years of data contribution!
PKF Consulting Inc. has been named Hotelier Magazine’s 2011
“Supplier of the Year” Pinnacle Award Winner!
