The Legacy accounting service is tailored to meet hotel owners specific requirements. Reporting systems are designed to produce on-demand information tailored to meet the business objectives.
Each hotel has a dedicated Financial Controller supported by the Managing Director. The focus of each Financial Controller is in 4 key areas.
- Internal Controls – stewardship function over the assets of the business.
- Transactional – ensure that the transactions of the business are accurately recorded and comply with all the relevant statutory requirements.
- Information Reporting – deliver management information that is accurate, timely and relevant. The reporting should set the agenda for the business.
- Commercial Value-Add – work closely with the General Manager to deliver the commercial objectives of the business through the Heads of Department. Legacy Financial Controllers have set commercial objectives that support the overall business plan.
Each hotel typically receives a full audit at least once a year with a detailed follow-up to ensure that the audit plan has been delivered by local management. Special investigative audits are also carried out as required.
With purchases typically accounting for 35% of the average hotel’s turnover securing the right combination of price quality and service from vendors is a key factor in conversion delivery.
Legacy offer a complete procurement service covering all revenue and capital commodities necessary for the fit-out and day to day running of a hotel. Legacy have particular expertise in the big three revenue items – Food, Liquor and Laundry which combined typically account for 50% of the procurement spend.
Legacy believe strongly in the benefits of strategic partnerships in the area of procurement.
This allows us to:
- Fully leverage our purchasing power
- Increase access to specialists in increasing complex markets
- Share market information and pricing
The above benefits combined with the power of the internet to facilitate transparency and remove costs from the procure to pay process allows Legacy to drive maximum value from the supplier base without compromising quality and service.