Tailored Compliance and Banking Solutions for the Hospitality Industry.

With growing financial regulations, and Anti-Money Laundering (AML) laws, it has become more challenging for hotels to open and maintain bank accounts with traditional banks.
 

Hotels, with their international focus, large cash flows, and diverse ownership structures, face unique challenges in terms of compliance. We provide specialized support from A to Z, allowing hotel businesses to focus on their core operations while we handle all banking and compliance-related matters.
 

Our Services for the Hotel Industry

1. Bank Account Opening Assistance:

   • Local and International Bank Accounts: We guide hotel businesses through the process of opening both local and international bank accounts, which are crucial for their operational activities. This includes navigating the complex application procedures of banks, gathering and submitting the necessary documentation, and maintaining relationships with banks to expedite the process.

   • Complex Ownership Structures: Many hotels have complex ownership structures, such as franchisees, investors from multiple countries, or holding companies. We ensure that these structures are clearly presented to the bank, facilitating a smoother approval process.

2. Compliance and Due Diligence Support:

   • Comprehensive Due Diligence Assistance: Banks require extensive due diligence to understand the origin of funds, ownership structures, and transaction flows. We handle all necessary compliance documentation, such as KYC (Know Your Customer), UBO (Ultimate Beneficial Owner) declarations, and proof of funding, specifically tailored to the hotel industry.

   • AML and Sanctions Legislation: Hotels are vulnerable to AML issues due to their international clientele and complex cash flows. We assist hotel businesses in complying with AML regulations by ensuring that all requirements are correctly filled out and documented.

3. Support with Compliance Queries from Banks:

   • Transaction Investigations: Banks may inquire about large or unusual transactions, especially in hotels dealing with seasonal cash flows or payments from foreign customers. We provide support in answering these inquiries by delivering clear reports and explanations.

   • Avoiding Suspicious Transactions: We help hotel businesses implement internal controls to identify and prevent suspicious transactions, which increases the bank's confidence and helps avoid future issues.

4. Assistance with Integrity Issues:

   • Risk Assessment: If integrity issues arise, such as suspicions of money laundering or illegal financing, we conduct a thorough risk assessment and propose mitigation strategies to prevent further complications.

   • Advisory and Communication: We support hotels in communicating with banks and regulators regarding integrity issues, ensuring that all parties are well-informed and that all necessary measures are taken.
      

Process Overview

Our process for hotels follows clear steps, with the goal of fully relieving our clients of all related concerns:

1. Initial Intake and Analysis: Understanding the hotel’s specific needs, including ownership structures, international operations, and transaction flows.

2. Strategy Development and Planning: Creating a customized plan for opening bank accounts and meeting compliance requirements.

3. Document Collection and Preparation: Assisting with gathering all necessary documentation and properly preparing the dossier.

4. Bank Communication Support: Mediating between the hotel and the bank, submitting documentation, and negotiating terms.

5. Compliance and Audit Queries: Providing full support in responding to bank inquiries related to compliance and transactions.

6. Risk Management and Integrity Issues: Advising and assisting with resolving integrity issues and preventing suspicious transactions.
    

Expedited Services for Urgent Cases

We understand that the hotel industry often faces time constraints, such as seasonal operations or international expansion. For urgent cases, we offer expedited services, where the entire process can be completed within 2 to 4 weeks. This includes direct communication with banks and prioritizing the case.
 

Cost Structure

Our pricing structure is flexible and tailored to the specific needs of hotel businesses:

1. Standard Process (4-8 weeks): $4,000 - $15,000 per project, depending on complexity.

2. Urgent Process (2-4 weeks): $12.500 - $25,000 per project, depending on urgency and complexity.

3. Ongoing Compliance Support: $1,500 - $4,000 per month for periodic compliance checks and continuous support.

4. Hourly Rate for Specific Consultations: $300 per hour, depending on the consultant’s expertise.
    

Contracts and Transparency

Our contracts are clear and transparent, with no hidden costs. All agreements are clearly outlined upfront, so clients know exactly what to expect. If any changes occur during the project that impact the scope or cost, clients are always informed and asked for approval before any additional charges are applied.