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Business Risk Services
Our Business Risk Services team deliver practical and pragmatic solutions that support clients in growing and protecting the inherent value of their businesses.
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Corporate Finance and Deal Advisory
We offer a dedicated team of experienced individuals with a focus on successfully executing transactions for corporates and financial institutions. We offer an integrated approach, with our corporate finance specialists working seamlessly with tax and other specialists to ensure that every angle is covered.
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Economic Advisory
Our all-island Economics Advisory team combines expertise in economics and business with a wealth of experience across the public and private sectors.
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Forensic Accounting
We have a different way of doing business by delivering real insight through a combination of technical rigour, commercial experience and intuitive judgment. We take pride in delivering responsive and tailored solutions to all our clients, capitalising on the wealth of experience housed within our Belfast and wider Forensics team
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People and Change Consulting
The Grant Thornton People & Change Consulting practice works with clients on these issues as well as on all aspects of how they attract, retain, engage develop, deploy and lead their people.
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Restructuring
We work with a wide variety of clients and stakeholders such as high street banks, private equity funds, directors, government agencies and creditors to implement solutions which provide the best possible outcomes.
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Technology Consulting
Motivating and assisting our clients to pursue, maintain and secure the benefits of digital solutions is at the core of our Digital Transformation teams' agenda and goals. We work with business leaders to deliver efficient digital strategies and operating models that provide new or enhanced capabilities.
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Corporate and International Tax
Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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Employer Solutions
Our team specialises in remuneration and incentive planning and works closely with employers, shareholders and employees to ensure that business strategies are aligned and goals achieved in the most tax efficient, cost-effective manner.
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Entrepreneur and Private Client Taxes
Our team of experienced advisors are on hand to guide you through any decision or transaction ranging from the establishment of new business ventures, to realising value on exit, to succession planning and providing for loved ones.
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Global Mobility Services
Grant Thornton Ireland offer a different approach to managing global mobility. We have brought together specialists from our tax, global payroll, people and change and financial accounting teams across Ireland and Northern Ireland, while drawing on the knowledge and insights of our global network of over 143 offices of mobility professionals to provide you with a holistic approach to managing global mobility.
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Outsourced Payroll
Our outsourced service provides valued service to over 150 separate PAYE schemes. These ranging from 1 to 1000 employees, working for micro, SME and global employers. The service is supported by the integrated network of tax and global mobility teams and the wider Grant Thornton network delivering a seamless service. Experienced staff deliver a personal service built around your business needs.
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Tax Disputes and Investigations
Our Tax Disputes and Investigation team is made up of tax experts and former HMRC investigators who have years of experience in dealing with a variety of tax investigations. Our expertise and insight can guide you through all interactions, keeping your cost at a minimum while allowing you to continue with the day to day running of your business.
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VAT and Indirect Taxes
At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
Mixed forecast for the Hotel market
02 Aug 2016Unlike our summer climate, on a five year view the hotel sector in Northern Ireland has enjoyed a sustained period of fair weather. According to Department for the Economy statistics, almost 1,250,000 hotel beds were sold in the first five months of 2016, a stellar performance that is 28% higher than the same period in 2011.
For Belfast, the phenomenon of not being able to find a hotel room is not new and it is unsurprising that the City Council region still boasts the highest hotel occupancy rates in the province. The statistics however indicate that hotels in the regions are also beginning to do better, with the council areas of Derry City & Strabane and Newry, Mourne & Down both reporting occupancy rates that are higher than at any stage over the five year period.
Larger players
The larger players in the market are continuing to improve, with almost 70% room occupancy on average during the five-month period. It is unsurprising that the confidence in the sector is reflected in the development of new hotel facilities throughout Northern Ireland with numerous hotel projects either ongoing or due to commence in Belfast before the end of the year.
On closer analysis, however, there are some early warning signs for the industry. Performance in 2016 was weaker than the same period in 2015, the first decline in sales volumes since at least 2011. Although the 3% decrease in the number of beds sold will be in part due to poor weather and strong pre-Brexit sterling exchange rates, the hotel industry in Northern Ireland cannot be immune to the challenges facing the industry across the globe.
Hotels worldwide are experiencing a good deal of market pressure, much of it from new sources. Airbnb and other sharing economy providers are growing in popularity and are claiming a significant share of the growing demand for accommodation, even in Northern Ireland. The Department for the Economy statistics show that in the two years between 2014 and 2016 guesthouses and B&Bs have significantly increased their share of bed nights sold from 12% to 15%.
In addition, more and more guests are booking through online travel agents who take substantial commissions, and when guests do arrive, they expect the same immediacy of service and control they get at home and at work through their smartphones.
Personalisation
A recent report from Grant Thornton has identified ‘Personalisation’ as one answer for hotels looking to maintain or grow their market share in this challenging environment. By meeting guests’ individual needs, hotels can win greater loyalty. From online check-in, to the app that customises the mini-bar, Personalisation can help hotels stand out from the crowd.
“Personalise or perish” should be the mantra at the heart of hotel companies’ efforts to build their brands and lay platforms for long term success. The new build hotels will have an advantage in the early adoption of technology. The risk for existing hoteliers is that they will struggle to make the necessary inroads to remain relevant to the guests of tomorrow.