Annual Plan Determination – Ras Al Khaimah, UAE
Offices: Horwath HTL UAE & Horwath HTL London
Scope of work: Horwath HTL was appointed by the owners of a luxury desert resort to provide an independent review of the Operator’s proposed budget, over which they were in dispute, and to independently prepare a new plan for the coming year.
Description of project: Our Client was the owner of a luxury desert spa resort in the UAE. The resort had been developed and was now operated on the owner’s behalf by an established international luxury operator. However the operator had a track record of underperforming its budgets at the property and at the time of our appointment the owner was concerned that the latest plan was again overstated. Having rejected the budget in the first instance and subsequently failing to reach agreement, Horwath HTL was appointed as part of the contractually agreed resolution process to independently review the operator’s submitted plan. Having determined that it was indeed unrealistic, we prepared a viable budget for the coming year.
Project Status: Faced with clear supporting evidence, the operator accepted our findings and agreed to work to our recommended plan.