Understanding the nuances of the restaurant industry is essential to delivering exceptional service. Explore the business side of the restaurant business and gain critical insights and guidance specifically for the hospitality industry. Attend expert educational sessions covering various topics of financial, economic, accounting, technology, strategy and restaurant operations. This event is designed for finance and tax executives in the hospitality industry, including restaurants, hotels, bars, catering services, and other food and beverage businesses.
7 – 7:05 a.m.
Welcome and Announcements
7 – 7:55 a.m.
Restaurant and Hospitality 2023 Outlook
Karen Bremer, CAE, Georgia Restaurant Association
Credit: Specialized Knowledge – Technical (1.0)
What are the latest trends in the industry? Over the past few years, circumstances have triggered a transformation within the hospitality industry. Many businesses didn’t survive, others adapted swiftly and hung on, and some were born out of the chaos that ensued with innovative concepts tailored to our new normal. What new trends are emerging? Increased consumer awareness of all things sustainable, purposeful and health and well-being has set new benchmarks.
7:55 – 8:05 a.m.
Networking Break
8:05 – 9:20 a.m.
Restaurant and Hospitality Industry Tax Update
Tommy Lee, CPA, Aprio, Denver, Colo.
Credit: Taxes – Technical (1.5)
Discuss the latest tax information, including GAAP vs. tax lease accounting, state enactments of PTE regimes, bonus depreciation phase-out, movement on ERC and the audit landscape, reminder of Refresh Regulations for restaurants and Section 174 in hospitality.
9:20 – 9:30 a.m.
Networking Break
9:30 – 10:45 a.m.
Craft Beverage Lending 101
Jason Sleeman, United Community Bank, Woodstock, Ga.
Credit: Finance – Technical (1.5)
Review the industry’s current state, trends hitting the craft market, current challenges, and how a good financial team can help navigate these challenges and trends. Discuss lending options for the industry and the metrics considered when working on a loan.
10:45 a.m. – 11:30 p.m.
Lunch Break
11:30 – 12:45 p.m.
Financial Reporting for Hotels and Hospitality Groups
Giselle El Biri, CPA, Aprio, Atlanta, Ga.
Credit: Accounting – Technical (1.5)
Examine the differences of GAAP vs. tax basis, presentation requirements for the FDD, expected trends in income statement presentation, trends in reporting EBITDA for valuation purposes and accounting issues - common mistakes and lessons learned.
12:45 – 12:55 p.m.
Networking Break
12:55 – 2:10 p.m.
Your Craft Business Road Map: Financial Planning and Reporting
Sean Hendley, CPA, LSSB, Draffin Tucker, Atlanta, Ga.
Credit: Accounting – Technical (1.5)
Begin developing a vision for your business; look down the road 10-5-3-1 years, including all staff in some way. Create a plan for your business to help achieve your vision, including a budget for the next and future years, long-range projections, sales projections and targets by sectors, regions and revenue segments, and dashboards to help you stay on track. Additional topics, such as accounting tools, production schedules, meetings and reviews, will be discussed.
2:10 – 2:20 p.m.
Networking Break
2:20 – 3:10 p.m.
Legal Update for the Restaurant and Hospitality Industry
Taylor Harper, TFH Legal, Atlanta, Ga.
Credit: Business Law (1.0)
Receive breaking legal updates and analysis on the hospitality and restaurant industry
Speakers:
SEAN HENDLEY, CPA, LSSB- Sean is a manager in the Albany office and focuses his time in Draffin Tucker’s Resource Solutions group serving the health care industry and small businesses. He has more than 22 years of experience in accounting and finance roles, primarily in the health care industry. His expertise includes controller of a 100-bed hospital; assistant vice president overseeing reimbursement, payroll, budgeting, decision support, and data analytics for a large, multi-entity health care system; and chief financial officer of a company with a diverse portfolio of businesses.
KAREN BREMER, CAE- Karen is the president and CEO of the Georgia Restaurant Association (GRA), representing one of the largest industries in the state. She was the former owner of Dailey’s and City Grill restaurants and was a top executive with the Peasant Restaurant Group, starting as a manager and ultimately being named its president. Bremer is a founding member of the GRA and the past president of the GRA Board. She serves on the executive committee for the National Restaurant Association and the board of directors for the Atlanta Convention & Visitors Bureau (ACVB). Karen serves as vice president for the Council of State Restaurant Associations. She also sits on the Industry Advisory Board of Georgia State University’s Cecil B. Day School of Hospitality Administration and is a trustee of the Arby’s Foundation.
TOMMY LEE, CPA- Tommy is a partner-in-charge of retail, franchise and hospitality at Aprio. He works closely with executives and owners of middle-market retail, franchise and hospitality operations nationwide. Clients count on him for tax structures, ongoing business, and strategic tax planning supporting profitable growth. He helps navigate the sale of businesses and clients to minimize state and local tax exposure. Tommy has helped hundreds of businesses increase cash flow through the skillful coordination of CARES Act benefits. He is an expert at successfully guiding clients through PPP loan applications, accounting and forgiveness processes and coordinating other programs like the ERC payroll tax credit to maximize their benefits.