hospitality and leisure - pwc · 2018-03-02 · university of nicosia on contemporary tourism...

Cyprus Hospitality and Leisure Industry GroupAutumn 2016

www.pwc.com.cy

Industry Qualification Statement

Hospitality and Leisure

2 PwC Cyprus

Foreword

Adding value - Providing solutions to the Hospitality & Leisure (H&L) industry

Why PwC?

Experience Record

PwC Cyprus H&L team

PwC in Cyprus

PwC offices in Cyprus

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Table of contents

“Creating sustainable value for the tourism industry, supporting the efforts of the tourism community, turning vision into the right strategy”

Industry Qualification Statement 1

Hospitality has been an integral part of the Cypriot culture from the ancient times and the powerhouse which has helped to build our modern economy. During the last years tourism has experienced significant increase, mainly due to the growing number of tourists from Russia and Eastern Europe.

It is evident that tourism offers a significant “economic injection” and has an instrumental role in revitalising the Cyprus economy. Despite the global economic uncertainty, according to statistics released by the World Tourism Organization (UNWTO), tourists travelling internationally grew by 4,4% in 2015 reaching 1,184 million and capping a five year consecutive increase. It is expected that by 2030 International tourists will reach 1,8 billion. This proves the size of the opportunities for our tourism industry.

PwC Cyprus plays a vital role in the development and further advancement of the tourism industry and of the businesses and organisations operating in this sector. Our firm has been the trusted advisor to some of the most important local and international tourism enterprises, as well as to governmental authorities and Ministries, providing innovative, value adding services to the industry both in Cyprus and abroad.

We are implementing a distinctive methodology that leverages the expertise of our teams to offer customised services and solutions to help create the value that our clients are looking for. PwC in Cyprus has been actively supporting various tourism related institutions and associations, sponsoring studies and surveys, organising educational workshops, encouraging the creation of “think tanks” and networking the various stakeholders of the industry.

This booklet summarises our relevant experiences and competencies in the tourism industry and presents a brief profile background of the Hospitality and Leisure team.

Our commitment is to continue to proactively engage with the tourism industry on issues that will prove to be important, leveraging our local and global expertise and to use innovative tools that would help the industry succeed.

Foreword

Evgenios C Evgeniou CEO, PwC Cyprus

2 PwC Cyprus - Hospitality and Leisure


Equipped with a wealth of knowledge and experience we provide to our clients

custom made, innovative solutions to address their needs and challenges.

PwC provides integrated services to the H&L sector, indicatively including:

• feasibility studies

• mergers and acquisitions

• restructuring plans

• enterprise risk management

• strategy and business plans

• valuations

• assisting in negotiation of management contracts and/or franchise

agreements

• corporate finance

• review of development plans

• operational reviews

• tax planning

• VAT health checks and identification of VAT savings opportunities

• standards audit

• project management

• sustainability and regulatory compliance

• destination management

• payroll services

• succession planning services for family businesses

• internal audit

• corporate social responsibility

• cyber security services

• EU general data protection regulation



Equipped with a wealth of knowledge and experience we provide to our clients

custom made, innovative solutions to address their needs and challenges.

PwC Cyprus Hospitality & Leisure brings a unique combination of strengths, including:

• in-depth knowledge of hotel operations

• a strong track record in the production of high-quality sectoral reviews

• extensive experience of qualitative and quantitative research techniques

• a strong reputation for rigour, independence and impartiality

• access to the PwC international hospitality and leisure network

Why PwC

From left to right: Stavroulla Zenonos, George A Ioannou, Panagiotis Moiras, Ioanna M Ioannou, George Shiammoudis, Petros Petrakis


We support you to create the value you are looking for in thehospitality & leisure industry by providing specialised and innovative solutions based on quality. Together we build relationships based on trust and we say things as they are, to assist you to deal with issues that tomorrow will prove important. We adapt our expertise and the power of our global network to your specific needs helping you make the difference.


• Sustainability Management Systems (Quality,

Environment, Health and Safety, Food Safety)

• Valuations, Mergers and Acquisitions for local hotel

groups and Regulatory Compliance

• Sustainable tourism strategy development

• Reorganisation studies for large private groups

• Due dilligence for proposed investmnets

• Independent Business reviews of hotel groups

• Valuations and impairment reviews

• Feasibility studies for hotels and casino developments

• Corporate Social Responsibility and reporting

• Energy audit and Energy management

• Hotel Social Media strategy development

• Information Technology Audits

Experience Record

• Golf course development in a luxury hotel

complex

• Destination strategy formulation and action

planning

• Sustainable tourism strategy development

• Destination management

• Destination tourist product criteria development,

implementation and analysis

• Total Impact Measurement and Management

• Alleviating seasonality strategy formulation,

action planning and product development

Indicative work carried out for clients in the private and public sector both locally and internationally includes:

Services to Private companies Services to Organisations/Destinations

We are committed to promoting the highest quality of professional consulting standards and practices for hospitality and leisure clients.

Detailed understanding of hotel costings and operations performance indicators, in-depth knowledge of the hotel finance function and operations, proven record on the identification and management of hospitality and destination sustainability issues.

PwC professionals offer specialised experience in the hospitality and leisure industry having an in depth understanding of the changing market forces that are affecting the industry.

Cyprus Tourism Organisation

Experience RecordSome of our clients


PwC Cyprus H&L teamPetros C Petrakis, Partner, In charge of Hospitality & Leisure GroupT: 00357 25 555 250, F: 00357 25 555 001, [email protected]

Petros C Petrakis, BA (Hons), MBA, FCA member of ICAEW, is a Partner in the Assurance & Advisory Service Line, Member of the Board of PwC Cyprus. He has extensive experience in the Hospitality and Leisure Industry of more than twenty years. Petros has been providing assurance and advisory services to a large number of prominent organisations in the sector including a number of listed groups.

George A Ioannou, Director, ConsultingT: 00357 22 555 752, F: 00357 22 555 001, [email protected]

George Ioannou BSc (Hons) Eng., MSc, CMC, is a Director in Consulting, responsible for Sustainability Business Services. He has over 20 years’ experience in the provision of services in the areas of sustainability management systems, Sustainable Tourism and Corporate Social Responsibility strategy development and reporting as well as capability building for the special incentives forms of tourism. He has managed large sustainability projects in the areas of solid waste and pollution prevention in the Hospitality & Leisure industry. He specialises in sustainable tourism destinations with focus on the provision of services in the areas of the Environment and Quality as well as tourism strategy development.

Ioanna M Ioannou, Senior Manager, AssuranceT: 00357 24 555 207, F: 00357 22 555 001, [email protected]

Ioanna Ioannou BSc, FCA member of ICAEW, is a Senior Manager in the Assurance and Advisory Service line and has been with the Firm since year 2000. She is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC), and has a wealth of experience in the audit of local clients. Ioanna specializes in the hospitality and leisure industry. Her portfolio of clients is diversified in different industries (construction and developing, hotels and tourism, investment holding, quarries, manufacturing and general trading). She has extensive experience in IFRSs and ISAs both as an auditor and trainer.



Panagiotis Moiras, Manager, ConsultingT: 00357 22 555 763, F: 00357 22 555 001, [email protected]

Panagiotis Moiras BA (Hons), MSc, MCIM is a Manager in the Assurance & Advisory Service Line of PwC Cyprus. He has had key positions in various projects in Cyprus and Greece focusing on marketing and communication, strategy formulation projects, design, implementation and monitoring of action plans for tourism companies and organisations (both in the public and private sector). He has also been actively involved in conceptualising and developing destination management methodologies as well as assisting business and organisations in exploring various funding opportunities related to the H&L industry. Panagiotis is also a visiting lecturer at the University of Nicosia on contemporary tourism subjects, a member of its Business Advisory Board and the liaison person with PwC’s Chair hold in the University.

George Shiammoudis, Senior Manager, DealsT: 00357 22 555774, F: 00357 22 555 001, [email protected]

George Shiammoudis, BSc, MSc, ACA, is a senior manager in Deals & Corporate Finance. George has extensive experience in Hospitality and Leisure industry assignments including valuations, M&A advice, preparation of business and strategic plans, feasibility studies and corporate turnaround services. He has been participating in the team advising the Government and various local authorities on the formulation of tourism strategy and various infrastructure projects such as marinas.

PwC Cyprus H&L team

Stavri Zenonos, Senior Manager, Indirect TaxT: 00357 25 555 011, F: 00357 25 555 001, [email protected]

Stavri Zenonos, BSc (Econ), ACCA member, is a Manager in the Indirect Tax Line of Service of PwC Cyprus. Stavri has a solid experience in Indirect Tax and specialises in the Hospitality and Leisure Industry. She has delivered many seminars, in particular to Hotel and Tourism Operators and has been providing Indirect Tax services to a large number of companies in the sector including listed companies. She has been involved in various projects in the Tourism Industry identifying VAT issues and opportunities.

PwC in CyprusWe support you to create the value you are looking for by providing specialised solutions based on quality. Together we build relationships based on trust and we say things as they are, to assist you to deal with issues that tomorrow will prove important.

We adapt the expertise of our almost 1000 professionals in Cyprus and the power of our global network of 208,000 experts in 157 countries to your specific needs, helping you make the difference.

In a demanding and challenging business environment, our diverse teams of experts are sharing deep knowledge and experience. We provide a broad range of services as listed below to meet your increasingly complex needs.

• Assurance • Tax Advisory

• Consulting • Corporate Compliance

• Deals • Indirect Tax

• Company Administration

• Legal Services

Our industry specialisation in the following sectors, gives you the benefit of our in-depth industry knowledge and experience.

• Banking • Energy

• Insurance • Hospitality & Leisure

• Forex • Transportation & Logistics

• Other CySec regulated entities • Public Sector

• Funds • Retail, Consumer & Manufacturing

• Real Estate • Telecommunications

• Construction & EngineeringDesigned by: PwC Cyprus (Marketing & Communications Department)

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

©2016 PricewaterhouseCoopers Ltd. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers Ltd of Cyprus, which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

Visit www.pwc.com.cy to discover the benefits we can bring to you.


Nicosia

Mailing address: P O Box 21612, CY-1591 Nicosia, Cyprus

Street address: PwC Central, 43 Demostheni Severi Avenue, CY-1080 Nicosia

T: +357 - 22555000, F: +357 - 22555001

Limassol

Mailing address: P O Box 53034, CY-3300 Limassol, Cyprus

Street address: City House, 6 Karaiskakis Street, CY-3032 Limassol, Cyprus

T: +357 - 25555000, F:+357 - 25555001

Paphos

Mailing address: P O Box 60479, CY-8103 Paphos, Cyprus

Street address: City House, 58 Grivas Dighenis Avenue, CY-8047 Paphos, Cyprus

T:+357 - 26555000, F:+357 - 26555001

PwC offices in Cyprus


hospitality and leisure - pwc · 2018-03-02 · university of nicosia on contemporary tourism...

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